Prospectus Supplement for Index Linked Notes slide image

Prospectus Supplement for Index Linked Notes

receive any dividends, distributions or other income or amounts accruing or paid thereon or any other rights with respect to the underlying interests. There is generally no restriction on the Bank's, or its affiliates', ability to hedge, sell, pledge or otherwise convey all or any of the underlying interests acquired by the Bank or its affiliates. Neither the Bank nor its affiliates will hedge, pledge or otherwise hold any underlying interests for the benefit of holders of the Notes under any circumstances. Consequently, in the event of bankruptcy, insolvency or liquidation of the Bank, any such underlying interests owned by the Bank or its affiliates will be subject to the claims of the Bank's creditors generally and will not be available for the benefit of holders of the Notes specifically. Changes that affect Indices will affect the market value of the Notes and the amount payable on the Notes The policies of an Index Sponsor concerning the calculation of an Index, additions, deletions or substitutions of the underlying interests and the manner in which changes affecting those underlying interests or the issuers thereof, such as dividends, distributions or other income or amounts paid thereon, reorganizations, mergers, acquisitions or divestitures, may be reflected in the prices of the equity securities comprising such Index and the value of the relevant Index, and could affect the amount payable on the Notes and the market value of the Notes prior to maturity. The amount payable on the Notes and their market value could also be affected if the Index Sponsor changes these policies, for example by changing the manner in which it calculates an Index, or if the Index Sponsor discontinues or suspends calculation or publication of an Index, in which case it may become difficult to determine the market value of the Notes and may result in the inability or impracticability of the Calculation Agent to determine a bid price for the Notes or may result in a bid price that is unfavourable to holders of the Notes. If events such as these occur, or if an Index level is not available because of a Market Disruption Event or for any other reason and no Successor Index is selected, the Calculation Agent may determine such Index level and the amount payable on the Notes in a manner it considers appropriate, in its sole discretion, subject to confirmation by an independent calculation expert if a determination contemplated to be made by the Calculation Agent following the occurrence of any special circumstance that involves the application of material discretion and is not based on information or calculation methodologies compiled, utilized or provided by, or derived from, independent third party sources (including hedge counterparties). See "Special Circumstances". The Index Sponsor is under no obligation to continue the calculation, dissemination and publication of the Index and may also make changes to the terms and conditions of the Index and the method used to calculate the Index as provided for in the methodology of the Index. The Index Sponsor is not obliged to provide information on any such modifications or changes. Additionally, disruptions in operations for any reason, including interruptions, limitations, breakdowns, suspensions or the permanent discontinuance of trading on any exchange or trading system on which the equity securities of the issuers comprising the Index are traded may adversely affect the prices of such equity securities and therefore the level of the level of the Index, and the amounts that may be payable on the Notes and the value of the Notes on or prior to maturity. Such occurrences may impact the Index Sponsor's ability to provide continuous services related to the operation of the Index, including calculating and announcing the closing level or value of the Index. The Bank and the Investment Dealers are not responsible for the public disclosure of Index Sponsors Where the Bank is not, and is not related to, an Index Sponsor, such Index Sponsor will not be involved in the offering of the Notes, will have no obligation of any sort with respect to the Notes and will have no obligation to take the interests of holders of Notes into consideration for any reason, including in taking any corporate actions that might affect the value of the Notes. Where the Bank is not, and is not related to, an Index Sponsor, the Bank does not, and in all cases the Investment Dealers do not, assume any responsibility for the adequacy or completeness of the information about such Index Sponsor or the relevant Index contained in this product supplement, any pricing PROD-SUP-ILN-17
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