Common use of No Deposit Clause in Contracts

No Deposit. Any Investment in the Notes does not have the status of a bank deposit and is not within the scope of any deposit protection scheme. Disenfranchisement: In relation to any issue of Notes which have a Denomination consisting of a specified amount (the “Minimum Amount”) plus any integral multiple of a smaller specified amount, it is possible that the Notes may be traded in amounts in excess of the Minimum Amount that are not integral multiples of the Minimum Amount. In any such case, the relevant Global Note may be exchanged for definitive Notes only in the event the relevant Clearing System is closed for business for a continuous period of 14 days. If definitive Notes are to be printed, a Noteholder who, as a result of trading such amounts, holds a principal amount of less than the Minimum Amount will not receive a definitive Note in respect of such holding and would need to purchase a principal amount of Notes such that it holds an amount equal to an integral multiple of the Minimum Amount. Multipliers and leverage: If the Notes are structured to include a multiplier or leverage, their market value will be more volatile and losses from any exposure to them may be greater than for comparable securities that do not.

No Deposit. Any Investment in the Notes does not have the status of a bank deposit and is not within the scope of any deposit protection scheme. Disenfranchisement: In relation to any issue of Notes which have a Denomination consisting of a specified amount (the “Minimum Amount”) plus any integral multiple of a smaller specified amount, it is possible that the Notes may be traded in amounts in excess of the Minimum Amount that are not integral multiples of the Minimum Amount. In any such case, the relevant Global Note may be exchanged for definitive Notes only in the event the relevant Clearing System is closed for business for a continuous period of 14 days. If definitive Notes are to be printed, a Noteholder who, as a result of trading such amounts, holds a principal amount of less than the Minimum Amount will not receive a definitive Note in respect of such holding and would need to purchase a principal amount of Notes such that it holds an amount equal to an integral multiple of the Minimum Amount. Multipliers and leverage: If the Notes are structured to include a multiplier or leverage, their market value will be more volatile and losses from any exposure to them may be greater than for comparable securities that do not.