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For material issued by the Sales/Trading departments of Nomura International plc |
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This information has been issued by the Sales/Trading departments of Nomura International plc ("NIplc") and is made available to you by NIplc and/or its affiliates (collectively, "Nomura"), in order to promote investment services and is provided without compensation. This is not investment research within the meaning of applicable regulatory rules in the European Economic Area, nor is it research under the rules of the U.S. Self Regulatory Organizations of which Nomura is a member or under applicable rules in Hong Kong. Information contained herein is provided for informational purposes only, is intended solely for your use and may not be quoted, circulated or otherwise referred to without our express consent. This material contains indicative terms only, and should not be considered as an offer to buy or sell securities or other products discussed herein. Any prices, yields and opinions expressed are subject to change without notice. The information is based on sources we believe to be reliable, but we do not represent that it is accurate or complete. We are not your designated investment adviser and this information is therefore provided on the basis that you have such knowledge and experience to evaluate its merits and risks, and are capable of undertaking your own objective analysis of the investment and its suitability to meet your requirements. It does not constitute a personal recommendation within the meaning of applicable regulatory rules in the European Economic Area, or take into account the particular investment objectives, financial situations or needs of individual investors. Nomura and/or connected persons do not accept any liability whatsoever for any direct, indirect or consequential loss arising from any use of the information or its content. Nomura also may have acted as an underwriter of such securities or other products discussed in this material, and may currently be providing investment banking services to the issuers of such securities or products. Nomura and/or its officers, directors and employees, including persons, without limitation, involved in the preparation or issuance of this material may, from time to time, have long or short positions in, and buy or sell, the securities, or derivatives (including options) thereof, of companies mentioned herein, or related securities or derivatives. This material has been approved for distribution in the United Kingdom and European Union by NIplc, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, and is a member of the London Stock Exchange. This material has been approved for distribution in Australia by Nomura Australia Ltd, which is authorised and regulated in Australia by the Australian Securities and Investment Commission ("ASIC"). It is not intended for retail clients. It is intended only for investors who are "eligible counterparties" or "professional clients" for the purposes of applicable regulatory rules in the European Economic Area, and may not, therefore, be redistributed to other classes of investors. Nomura manages conflicts identified through the following: their Chinese Wall, confidentiality and independence policies, maintenance of a Stop List and a Watch List, personal account dealing rules, policies and procedures for managing conflicts of interest arising from the allocation and pricing of securities and impartial investment research and disclosure to clients via client documentation. Disclosure information is available at https://www.nomura.com/research/. |