Legal Notices

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Disclaimer

Commerzbank AG provides you through Corporate Banking portal content, informaton and the accesss to different bank service applications.

a)

The content on this website has been created and published by the Commerzbank AG, Frankfurt/Main or the group companies mentioned in the document ("Commerzbank").

This is a financial promotion/marketing communication (together “communication”). It is not “investment research” or “financial analysis” as these terms are defined in applicable regulations and has not been prepared by a research analyst. The views in this communication may differ from the published views of Commerzbank Corporate Clients Research Department and the communication has been prepared separately of such department.

This communication may contain short term trading ideas. Any returns or future expectations referred to are not intended to forecast or predict future events. Any prices provided herein (other than those that are identified as being historical) are indicative only, and do not represent firm quotes as to either size or price.

This communication is for information purposes only. The information contained herein does not constitute the provision of investment advice. It is not intended to be nor should it be construed as an offer or solicitation to acquire, or dispose of, any of the financial instruments and/or securities mentioned in this communication and will not form the basis or a part of any contract. Potential counterparties/ distributors should review independently and/or obtain independent professional advice and draw their own conclusions regarding the suitability/appropriateness of any transaction including the economic benefit and risks and the legal, regulatory, credit, tax and accounting aspects in relation to their particular circumstances. Levels, bases and relief from taxation may change from time to time.

Any information in this communication is based on data obtained from sources believed by Commerzbank to be reliable, but no representations, guarantees or warranties are made by Commerzbank with regard to the accuracy, completeness or suitability of the data.

The past performance of financial instruments is not indicative of future results. No assurance can be given that any financial instrument or issuer described herein would yield favourable investment results.

This communication is intended solely for distribution to Professional Clients and/or Eligible Counterparties of Commerzbank. It is not intended to be distributed to Retail Clients or potential Retail Clients. Neither Commerzbank nor any of its respective directors, officers or employees accepts any responsibility or liability whatsoever for any expense, loss or damages arising out of or in any way connected with the use of all or any part of this communication.

Commerzbank and/or its principals or employees may have a long or short position or may transact in financial instrument(s) and/or securities referred to herein or may trade in such financial instruments with other customers on a principal basis. The information may have been discussed between various Commerzbank personnel and such personnel may have already acted on the basis of this information (including trading for Commerzbank’s own account or communication of the information to other customers of Commerzbank). Commerzbank may act as a market maker in the financial instruments or companies discussed herein and may also perform or seek to perform investment banking services for those companies.

No part of this communication may be reproduced, distributed or transmitted in any manner without prior written permission of Commerzbank. This communication or the manner of its distribution may be restricted by law or regulation in certain countries. Persons into whose possession this content may come are required to inform themselves about, and to observe any such restriction.

By accepting this communication, a recipient hereof agrees to be bound by the foregoing limitations.

Copyright © Commerzbank AG 2020. All rights reserved.

b)

Dubai (DIFC): The content on the website has been approved for distribution in or from the DIFC, Dubai, United Arab Emirates (the U.A.E) under the applicable Regulatory Law 2004 and the DFSA Rules by Commerzbank AG DIFC Branch. This document may only be received in or from the DIFC, Dubai U.A.E by Market Counterparties and Professional Clients as defined in the DFSA Rulebook Conduct of Business Module Section 2.3. Commerzbank AG DIFC Branch is regulated by The Dubai Financial Services Authority (The ‘DFSA’). Commerzbank AG DIFC Branch Suite 11-15, Gate Village 05 4th Floor, Dubai International Financial Centre PO Box 506596, Dubai, United Arab Emirates Tel.: +971 4 428 4999