Legal notice

GENERAL DISCLAIMERS

Warrants/CBBC is a non-collateralised structured product. If the Issuer and its Guarantor are insolvent or default, investors may not recover part or all of the amount due.

This website is produced by Merrill Lynch Far East Limited ("Merrill Lynch Hong Kong"). The contents of this website are not intended for distribution to, or use by, any person or entity in any jurisdiction or country outside Hong Kong Special Administrative Region of People’s Republic of China (“Hong Kong”) where such distribution or use would be contrary to law or regulation or which would subject the distributors of any of the structured products set out in this website (the “structured products”) or their affiliates to any registration or other requirement within such jurisdiction or country. Some products and services may not be available in all jurisdictions or countries or to all persons. Without limiting the foregoing, sales restrictions apply in relation to the United States of America, US persons (as defined by Regulation S under the U.S. Securities Act 1933) and the United Kingdom. These restrictions are more fully described in the relevant listing or offering documents.

You must read the full details of the structured products set out in the relevant listing or offering documents and understand the nature of such structured products and carefully study the listing or offering documents in respect of such structured products prior to making an investment in such structured products. Nothing in this website constitutes investment advice or a specific recommendation to buy any structured products, and the contents of this website have not been prepared with regard to the specific investment objectives, financial situation and particular needs of any particular investor.

All opinions and estimates included in this website (if any) constitute our judgement as of the date indicated based on information that is available to us and that we are aware of, and are subject to change without notice.

Unless otherwise stated, any pricing information in this website is indicative only, is subject to change and is not an offer to deal. Where relevant, the price quoted is exclusive of tax, delivery costs and commissions. Any reference to the terms of executed transactions should be treated as preliminary.

Any discussion of tax matters contained herein is not intended or written to be used, and cannot be used, by you for the purpose of avoiding any tax–related penalties.

RISKS RELATING TO STRUCTURED PRODUCTS

For a list of risk factors in relation to any structured products, please refer to the listing or offering documents in respect of such structured products. You should make your own independent appraisal of the risks and should consult, to the extent you consider necessary, your own legal, financial, tax, accounting and other professional advisors in this respect prior to any subscription or acquisition.

The price of structured products may fall in value as rapidly as it may rise and investors in certain structured products may sustain a total loss of their investment.

There can be no assurance that a trading market will develop in a structured product even if it is listed on The Stock Exchange of Hong Kong Limited (the “Exchange”). There may at times be no counterparty or in the case of structured products listed on the Exchange, the issuer of such structured products or its affiliate may be the only person quoting prices on the Exchange.

Investing in any of the structured products is not equivalent to investing directly in the underlying stock, index or other asset. The market value of the structured products may be influenced by many unpredictable factors, including but not limited to market conditions affecting the underlying asset, the actual or perceived creditworthiness of the issuer and/or guarantor of such structured products, interest rates and general economic, financial, political, regulatory or judicial events.

Where past performance is referred to, it is not indicative of future performance.

Members of the Merrill Lynch group and their subsidiaries and affiliates may engage in transactions involving, as well as provide investment banking and other services to, any company or to any trustee or manager of a trust underlying the structured products set out on this website or their securities and those transactions may have a positive or negative impact on the value of such structured products. Members of the Merrill Lynch group and their subsidiaries and affiliates may have officers who serve as directors of any of the companies mentioned in this website and may issue other competing financial products which may affect the value of the structured products set out on this website. You should also note that potential conflicts of interest may arise from the different roles played by members of the Merrill Lynch group and their subsidiaries and affiliates in connection with the structured products set out on this website and the economic interests in each role may be adverse to your interests in such structured products. Members of the Merrill Lynch group and their subsidiaries and affiliates owe no duty to you to avoid such conflicts.

INFORMATION ABOUT INDICES

In addition to these disclaimers, the disclaimers, attribution language and limitations of liability pertaining to the various indices associated with the structured products and set forth in the relevant listing or offering documents shall apply to the structured products, the use of this website and shall be incorporated into these disclaimers.

In no event shall any member of the Merrill Lynch Group or any third party supplying information or data on this website have liability arising from any information provided on this website concerning such indices.

DISCLAIMER OF WARRANTY AND LIMITATION OF LIABILITY

The contents of this website have been prepared based on sources, materials and systems believed to be reliable and accurate. THERE IS NO GUARANTEE OF THE ACCURACY, VALIDITY, TIMELINESS, MERCHANTABILITY, FITNESS OR COMPLETENESS OF THE INFORMATION AND DATA. ANY WARRANTIES, WHETHER EXPRESS OR IMPLIED, OR ANY STATUTORY WARRANTIES OF ANY KIND ARE HEREBY DISCLAIMED.

In no event shall the issuers of the structured products, members of the Merrill Lynch group and their affiliates be liable for any losses, including without limitation, direct or indirect, special, incidental or consequential losses or expenses arising in connection with this website or the use thereof or in connection with any failure of performance, error, interruption, defect, line or system failure even if any of the above parties are advised of the possibility of any of such losses.

THE ISSUERS OF THE STRUCTURED PRODUCTS, MEMBERS OF THE MERRILL LYNCH GROUP AND THEIR AFFILIATES SHALL NOT BE RESPONSIBLE FOR ANY LOSS OR DAMAGE THAT COULD RESULT FROM INTERCEPTION BY THIRD PARTIES OF ANY INFORMATION MADE AVAILABLE TO AND BY YOU VIA THIS WEBSITE.

USE OF LINKS

Should you leave this site via a link contained herein, you do so at your own risk. The content to which you link will not have been developed, checked for accuracy, or otherwise reviewed by any of the issuers of the structured products or Merrill Lynch Hong Kong and their affiliates. Such persons are not responsible for any damages or losses caused by any delays, defects, errors or omissions that may exist in the services, information or other content provided in such website, whether actual, alleged, consequential or punitive. There are no guarantees or representations made as to, and no liability shall be taken for, any content delivered by any third party, including, without limitation, the accuracy, validity, timeliness, merchantability, fitness or completeness of any such content.

COPYRIGHT AND TRADEMARKS

Except where expressly stated, copyright in the information contained in this website is owned by or licensed to Merrill Lynch Hong Kong. You may use the information for your own personal reference only and you may not reproduce any information in breach of copyright laws. The information may not otherwise be reproduced and must not be distributed or transmitted to any other person or incorporated in any way into another website, document or other material.

This website is for your personal use only. You may not copy, publish, distribute, transfer, modify, display, reproduce, and or create any derivative works from the information or software on this site. You may not use “framing” or similar technology with the site. If you download any information or software from this site, you agree that you will not copy it or remove or obscure any copyright or other notices or legends contained in any such information or software.

The use of any trademarks and logos displayed on this website is strictly prohibited unless written permission for such use is obtained from Merrill Lynch Hong Kong and/or, where relevant, such third party which may own the trademarks and logos.

PRIVACY

Personal information collected from you

Any personal information supplied by you through this website will be kept strictly confidential, save as expressly provided herein, and will be used to provide you with the service you applied for and not used in ways that you have not consented to. If you visit our website to browse, read or download information, our system will log these movements. Please refer to the Privacy Statement section of the website for further information.

How your information is used

The Merrill Lynch group are the owners of the information collected on this website. By accessing this website, you are deemed to consent to our use of information collected from you for our own marketing purposes, planning, product development and research purposes.

We may also provide such information to third party service providers for the purposes of the Merrill Lynch group's marketing, planning, product development and research. Save as herein provided, we will not disclose this information to any third party unless disclosure is required or authorised by law.

RISKS RELATING TO THE USE OF THE INTERNET

Transactions over the internet may be subject to interruption, interception, transmission blackout, delayed transmission due to internet traffic or incorrect data transmission due to the public nature of the internet. Merrill Lynch Hong Kong does not guarantee the security of any information transmitted over, through or via the internet.

Although Merrill Lynch Hong Kong will use reasonable efforts to minimise such occurrences, it does not warrant that any communication or e-mail or any attachments thereto, that is sent out, will be free from viruses, worms or other harmful components.

Neither the Merrill Lynch group, nor any of its directors, officers or employees, nor any third party vendor will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or interruption of this website, or resulting from the act or omission of any other party involved in making this website or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of the website or these materials, whether or not the circumstances giving rise to such cause may have been within the control of the Merrill Lynch group or of any vendor providing software or services support.

AMENDMENTS AND UPDATES

We may amend these terms and conditions at any time by posting the updated terms on this website, although we do not undertake to update this website regularly. No other form of notification will be delivered to you.

Merrill Lynch Hong Kong reserves the right to partly or completely change the website at any time and to restrict, interrupt or terminate its service.

LIMITATION OF LIABILITIES

In no event will any member of the Merrill Lynch group be liable to any party for any direct, indirect, special, incidental, consequential or any other damages of any kind arising out of any use of this website even if we are expressly advised of the possibility or likelihood of such damages.

CHOICE OF LAW AND JURISDICTION

These terms and conditions are governed by the laws of Hong Kong without regard to principles of conflicts of laws. All disputes shall be adjudicated within the exclusive jurisdiction of the courts of Hong Kong.

TERMS AND CONDITIONS OF USE

Your use of this site is subject to our Privacy Statement, Legal Information (please go to the respective link on this webpage for more information) and this General Disclaimers (collectively the "Terms and Conditions of Use"). By proceeding to use this site by clicking "I accept" below, you accept the Terms and Conditions of Use and agree to be bound by them.

Please be advised that to view information in this website, you must accept the conditions of the disclaimer.