On March 9th 2020, the Underlying of this Daily Long Leveraged Product experienced extreme market movement with the price of the WTI future dropping by more than 20% intra-day, triggering an Intraday Restrike Event (as per the mechanism described in the Base Prospectus and Final Terms of this product). As a result of such extreme market movement and intraday restrike, the Daily Long Leveraged Product lost its entire value and will not recover in the future. The product can still be sold back to the Issuer at 0.0005 GBP per Unit.
On March 9th 2020, the Underlying of this Daily Long Leveraged Product experienced extreme market movement with the price of the WTI future dropping by more than 20% intra-day, triggering an Intraday Restrike Event (as per the mechanism described in the Base Prospectus and Final Terms of this product). As a result of such extreme market movement and intraday restrike, the Daily Long Leveraged Product lost its entire value and will not recover in the future. The product can still be sold back to the Issuer at 0.0005 USD per Unit.
On April 02nd 2020, the Underlying of this Daily Short Leveraged Product experienced extreme market movement with the price of the WTI future increasing by more than 20% intra-day, triggering an Intraday Restrike Event (as per the mechanism described in the Base Prospectus and Final Terms of this product). As a result of such extreme market movement and intraday restrike, the Daily Short Leveraged Product lost its entire value and will not recover in the future. The product can still be sold back to the Issuer at 0.0005 GBP per Unit.
On April 02nd 2020, the Underlying of this Daily Short Leveraged Product experienced extreme market movement with the price of the WTI future increasing by more than 20% intra-day, triggering an Intraday Restrike Event (as per the mechanism described in the Base Prospectus and Final Terms of this product). As a result of such extreme market movement and intraday restrike, the Daily Short Leveraged Product lost its entire value and will not recover in the future. The product can still be sold back to the Issuer at 0.0005 USD per Unit.
Following our previous communication related to the product below, we would like to inform you that the cancellation of their listing on the London Stock Exchange, initially scheduled from 04/09/2020, has been postponed by one week.
As a result, the cancellation of the listing on the London Stock Exchange of these 2 Products is expected to be effective only from 11/09/2020, being clarified that the last day to trade (i.e. sell) the Products is expected to be on 10/09/2020.
An amended RNS announcement has been made on the London Stock Exchange (see RNS intention to de-list), a revised notice to holders in relation to the delisting of the Products and a new notice in relation to the early redemption of the Products have been sent to the clearing system through the paying agent (see notices).
The Products are expected to be terminated with a final redemption amount determination date based on the closing price of their underlying as of 10/09/2020.
Please do not hesitate to contact us should you need any further information relating to this delisting and early termination process.
In accordance with the Rules of the Financial Conduct Authority, it is not possible to show the past performance for a product that has been available for less than 12 months since its launch. Past Performance is not a reliable indication of future performance. Please refer to the London Stock Exchange website
Please refer to the Final Terms / Prospectus / Term Sheet in the ‘Materials’ section above for a full description of the specific product terms.
Indicative information only. This past performance is not a reliable indicator of future performance and is not taking into account potential brokerage fees. It has to be considered as a Gross Performance. These results are not based on and do not refer to simulated past performance, and are based on reasonable assumptions.
*for commodity and equity products, this figure equates to the % change in underlying asset multiplied by the leverage of the product, and for FX products this figure equates to the % change in the underlying asset (which already has leverage embedded)
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We recommend that you consult an appropriately qualified financial advisor prior to considering any investment in a product described on this website.
Securitised derivatives are classified as complex financial products and therefore prior to trading these products with your Broker they will be required to assess whether you have necessary knowledge and experience in order to understand the risks involved in dealing in these products. https://www.handbook.fca.org.uk/handbook/COBS/10
The purpose of the suitability test is to ensure that the products and services offered meet the client's investment objectives. In addition, it ensures that the client shall be able financially to bear the risks of the investment (including any relevant loss of capital) and that the client has the necessary experience and knowledge to understand these risks. When providing personal recommendations in relation to Securitised Derivatives your advisor must have undertaken a suitability test and must only recommend products and services that are in accordance with the results of the suitability test.
Please note that we do not provide investment advice: https://www.handbook.fca.org.uk/handbook/COBS/9/
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Secondary market warning
SG Option Europe, Societe Generale or any affiliate thereof is the only market maker of the products. Under normal conditions SG Option Europe, Societe Generale or any affiliate will endeavour to provide a market-making service, which involves giving the right market value and ensuring liquidity, both when buying and selling a financial product under specific conditions. Such arrangements may be temporarily or indefinitely curtailed as a result of technical problems within companies of the Societe Generale group or the London Stock Exchange or data vendors or telecommunications carriers, or in the event of pending announcements by or difficulties in procuring information on underlying companies. We are committed to ensure our product prices are always broadcast, however due to factors often out of our control e.g. technical issues with providers' feeds, there may be occasions whereby our products' prices are not broadcast. In such events, we will always endeavour to do whatever is in our power to resolve these issues promptly.
As a result of this secondary market risk, you may find it difficult or impossible in certain extreme circumstances to sell the relevant product or may be offered a price that is significantly less than you paid for it.
Leveraged returns are a major advantage of Short & Long Leveraged Exchange Traded Products but can also work against investors. Investors in Short & Long Leveraged Exchange Traded Products should be aware that, if the underlying instrument to the product moves in the opposite direction to that anticipated by investors, the losses incurred by the product will be greater in percentage terms than those incurred by the underlying itself. The prices of Short & Long Leveraged Exchange Traded Products can therefore be volatile. Short & Long Leveraged Exchange Traded Products have a limited life, as denoted by the expiry date of each issue. After this date, the products can no longer be traded or exercised. As the product is reset on a daily basis, your capital could erode very quickly following a continued succession of positive or negative performance of the underlying asset. Investors who wish to hold their position overnight will pay a commission in the same way as they would with a fund.
As a result of corporate actions such as rights issues, share splits, share buy backs and take over and mergers, strike levels of the products may be adjusted to reflect such activity. The reason for this is to ensure that investors in the products are not disadvantaged or gain undue benefit by equity adjustments. When such a change takes place, if you require any further information please do not hesitate to contact us. Further information regarding the calculation of the changes can be supplied upon request.
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Societe Generale or its affiliates may from time to time have a position, or material interest in the products described in this website or the investments underlying them. Generally SG Option Europe, Societe Generale or any affiliate thereof will be the only market maker in the products discussed and will or may have provided significant advice in relation to such products and the investments underlying them.
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