IMPORTANT INFORMATION
The BNP Paribas High Dividend Plus Index (the “Index”) is a custom index that is the exclusive property of BNP Paribas (“BNPP”) and is developed, maintained, determined, composed and calculated by BNPP or its affiliates. BNP, BNPP, BNP Paribas and the BNP Paribas High Dividend Plus Index (collectively, the “BNPP Marks”) are trademarks or service marks of BNPP. S&P® and S&P 500® are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by BNPP.
NONE OF BNPP, THE INDEX SPONSOR, THE INDEX CALCULATION AGENT OR ANY THIRD PARTY LICENSOR GUARANTEES THE ACCURACY, ADEQUACY, TIMELINESS, COMPLETENESS, COMPOSITION, CALCULATION, PUBLICATION, ADJUSTMENT OR AVAILABILITY OF THE BNP PARIBAS HIGH DIVIDEND PLUS INDEX OR ANY COMPONENT THEREOF OR DATA INCLUDED THEREIN, OR THAT NO ERROR, OMISSION, DELAY OR INTERRUPTION WILL EXIST THEREIN. THE INDEX CALCULATION AGENT AND THE INDEX SPONSOR MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED FROM THE USE OF ANY INDEX. NONE OF BNPP, THE INDEX SPONSOR, THE INDEX CALCULATION AGENT OR ANY THIRD PARTY LICENSOR MAKES ANY REPRESENTATION OR WARRANTY, AND EACH OF BNPP, THE INDEX SPONSOR, THE INDEX CALCULATION AGENT AND THE THIRD PARTY LICENSORS EXPRESSLY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, REGARDING THE BNP PARIBAS HIGH DIVIDEND PLUS INDEX, ANY BNPP MARK, AN S&P INDEX, TRADEMARK (INCLUDING S&P 500®) OR SERVICE MARK OF S&P (COLLECTIVELY, THE “S&P MARKS”) INCLUDING, WITHOUT LIMITATION, THOSE REGARDING MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE.
The BNP Paribas High Dividend Plus Index, an index developed by BNP Paribas which aims to track the excess returns of a portfolio of stocks and options over a hypothetical cash position accruing daily at 3-Month USD LIBOR. In calculating the performance of the Index, BNPP deducts on a daily basis a servicing cost of 1% per annum. In addition, the BNPP Index methodology embeds certain costs in the strategy which cover amongst other things, transaction, replication, trading friction and funding costs in running the BNPP Index. The levels of such costs (if any) may vary over time in accordance with market conditions as determined by BNPP acting in a commercially reasonable manner. These costs reduce the potential positive change in the BNPP Index.
BNPP reserves the right to amend or adjust the BNPP Index methodology from time to time and accepts no liability for any such amendment or adjustment. BNPP is not under any obligation to continue the calculation, publication or dissemination of the BNPP Index and accepts no liability for any suspension or interruption in the calculation thereof. Neither BNPP nor any of its affiliates accepts any liability in connection with the publication or use of the level of the BNPP Index at any given time.
BNPP may license the Index to one or more unaffiliated third-party companies (each, a “Company”) for use in a product offered or issued by the Company (each, a “BNPP Index Product”) linked to the Index. The BNPP Index Products are not, in whole or in part, sponsored, structured, priced, endorsed, offered, sold, issued or promoted by any third party licensor of information to BNPP or any third party index component (or part thereof) which may comprise the BNPP Index (each a “Reference Index”) that is not affiliated with BNPP (each such third party sponsor, a “Reference Index Sponsor”). BNPP may enter into derivative transactions or issue financial instruments linked to the Index. The Reference Index Sponsors make no representation whatsoever, whether express or implied, either as to the results to be obtained from the use of the relevant Reference Index and/or the levels at which the relevant Reference Index stands at any particular time on any particular date or otherwise. No Reference Index Sponsor shall be liable (whether in negligence or otherwise) to any person for any error in the relevant Reference Index and the relevant Reference Index Sponsor is under no obligation to advise any person of any error therein. None of the Reference Index Sponsors makes any representation and gives no warranty whatsoever, whether express or implied, as to the advisability or suitability for recipients’ financial needs of purchasing or investing in, or assuming any risk in connection with, the BNPP Index Products. BNPP shall have no liability to any party for any act or failure to act by any Reference Index Sponsor in connection with the calculation, adjustment or maintenance of the relevant Reference Index and have no affiliation with or control over any Reference Index or the relevant Reference Index Sponsor or the computation, composition or dissemination of any Reference Index. Although BNPP will obtain information concerning the Index from publicly available sources that it believes reliable, it will not independently verify this information. Accordingly, no representation, warranty or undertaking (express or implied) is made and no responsibility is accepted by BNPP as to the accuracy, completeness and timeliness of information concerning any Reference Index.
The information in this website should neither be regarded as comprehensive nor sufficient for making decisions, nor should it be used in place of professional advice. You should consult your own advisors about any products or services described herein in order to evaluate the merits, suitability, and financial, legal, regulatory, accounting and tax issues raised by any investment and should not rely on BNP Paribas or its affiliates for this.
Certain performance data are based on back-testing, i.e. simulations of the performance of a strategy, Index or assets as if it had actually existed during a defined period of time. All terms, pricing, estimates and opinions constitute the judgement of BNP Paribas and its affiliates and may be subject to change without notice. This type of information has inherent limitations which recipients must consider carefully. While the information has been prepared in good faith in accordance with BNP Paribas’ or its affiliates’ own internal models and other relevant sources, an analysis based on different models or assumptions may yield different results. Unlike actual performance records, simulated performance, returns or scenarios may not necessarily reflect certain market factors such as liquidity constraints, fees and transactions costs. Actual historical or back-tested past performance does not constitute an indication of future results or performance. Numerous factors may affect the indicative prices, which may or may not be taken into account. Therefore, these indicative prices may vary significantly from indicative prices obtained from other sources or market participants.
BNPP may act in a number of different capacities in relation to the Index and/or products linked to the BNPP Index, which may include, but not be limited to, acting as hedging counterparty, index sponsor and/or index calculation agent.
As an investment bank with a wide range of activities, BNP Paribas may face conflicts of interest and you should be aware that BNP Paribas and/or any of its affiliates may be long or short, for their own account or as agent, either for their own account or for the account of their clients. Additionally, BNP Paribas may have acted as an investment banker or may have provided significant advice or investment services to companies. The information in this website is not intended for distribution to, or use by, any person or entity in any jurisdiction where (a) the distribution or use of such information would be contrary to law or regulations, or(b) BNP Paribas or a BNP Paribas affiliate would become subject to new or additional legal or regulatory requirements. In no circumstances shall BNP Paribas or its affiliates be obliged to disclose any information that it has received on a confidential basis or to disclose the existence thereof.
Neither BNP Paribas, persons connected with it, affiliates of BNP Paribas, nor any of their respective directors, partners, officers, employees or representatives accepts any liability whatsoever (including in negligence) for any, special, punitive, indirect, direct or consequential loss arising from any action taken in connection with or reliance on the information contained in this website even where advised of the possibility of such losses; any of the foregoing may, from time to time act as manager, co-manager or underwriter of a public offering or otherwise, in the capacity of principal or agent, deal in, hold or act as market makers or advisors, brokers or commercial and/or investment bankers in relation to the securities and derivatives that are discussed herein.
To the extent that any transaction is subsequently entered into between the recipient and BNP Paribas, such transaction will be entered into upon such terms as may be agreed by the parties in the relevant documentation.
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