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.
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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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.
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