Access Restriction

The products described on the Web page are not intended for distribution in the US or to US persons and may not be eligible or suitable for sale in all jurisdictions or to certain categories of investors. The availability of product information on this Web page does not constitute a solicitation, offer or recommendation to establish a banking relationship between a person accessing the Web page and UBS. The products are not intended for persons domiciled in any jurisdiction that prohibits the publication of and the access to the Web page. Persons who are subject to such restrictions are prohibited from accessing the Web page.

Non-binding nature of information

The information and Materials available as well as the opinions expressed on the Web page do not constitute an investment advice or recommendation, and shall not be construed as a solicitation or an offer for sale or purchase of any products, to effect any transactions or to conclude any legal act of any kind. The information, Materials and opinions are only published for personal use and information purposes. Nothing therein is based upon the consideration of the particular needs, investment objectives and financial situation of any specific investor, nor are they a complete statement of the products, services, markets or developments. The products and services are not suitable for all investors, and trading in certain products is considered risky. Unless specifically stated otherwise, all information, Materials as well as price information is indicative only. The Materials are based on information obtained from sources believed to be reliable but are not guaranteed as being accurate, exact, complete, appropriate or up to date. Any opinions published on this Web page may differ or be contrary to opinions expressed by other business areas or groups of UBS as a result of using different assumptions and criteria. The information and Materials should not be regarded by investors as a substitute for the exercise of their own judgement. The information on the Web page shall not be construed as decision guidance for economic, financial, legal, regulatory, tax, accounting or any other issues. Investors should not make an investment decision or any other decision solely based on this information and Materials. Investors should consult qualified professionals in this regard.
The information, Materials, opinions, products and services are subject to change without notice. No representation or warranty (either expressed or implied) is provided in relation to the accuracy, exactness, completeness, appropriateness, actuality or reliability of the information, Materials, opinions published on the Web page. UBS is not under any obligation to update the information, Materials and opinions on the Web page, to remove outdated information, Materials and opinions from the Web page or to mark them as outdated.

Performance, influences

Past performance is not necessarily indicative of future performance. The investment value of a product may increase or decline. Foreign currency rates of exchange may adversely affect the value, price or income of any products. Therefore, UBS cannot guarantee the maintenance (or the increase in value) of the invested capital. The issuer ratings indicated in product documentations reflect the situation at the time of issuance and may be subject to changes during the lifetime of the product.

Essential interests

UBS and/or its directors, officers, employees and clients may have or have had interests or positions in the products described on the Web page, and may at any time make purchases and/or sales in them as principal or agent. In addition, they may act or have acted as market-maker in these products. Furthermore, UBS and/or its directors, officers, employees and clients may have or have had a relationship with or may provide or have provided investment banking and/or other services to the relevant companies. Employees of UBS may serve or have served as officers, directors, board members and/or members of the board of directors of the relevant companies.

No liability

To the fullest extent permitted by law, in no event shall UBS or any of its directors, employees or agents have any liability whatsoever to any person for any direct or indirect loss, liability, cost, claim, expense or damage of any kind, whether in contract or in tort, including negligence, or otherwise, arising out of or related to the access to or the use of the Web page, the use of all or part of information and Materials, even if UBS has been advised of the possibility of the same.