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DISCLAIMER: This material is based on public information believed to be reliable and is presented in good faith. We can not guarantee in any way its correctness, accuracy, or completeness. All information, opinions, estimates, forecasts and valuations contained herein, are subject to change without notice. This material is published for information purposes only and does not represent an offer to sell or a solicitation to buy an asset, security or financial instrument. Changes in interest rates or foreign exchange rates may affect the value and price of, or the income from securities or investment positions discussed herein. The assets, securities and financial instruments discussed herein, may not be suitable for all investors, depending on individual needs, objectives and financial conditions. Investors therefore should seek professional advice and exercise their independent judgment and make their own decisions. We accept no liability whatsoever for any direct or indirect loss arising from any use of this material. We, including our officers, personnel and related associates may have or had, for our own account, investment positions related to the material discussed herein, before, during or after the above material reaches you.

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