Jefferies Proprietary Convertible Bond Stat Pack Disclaimer

Important Disclosure

This proprietary convertible bond stat pack (“JCSP”) is supplied to you by Jefferies International Limited (“JIL”), authorised and regulated in the United Kingdom by the Financial Conduct Authority and registered in England and Wales No. 1978621, whose registered office is at 100 Bishopsgate, London EC2N 4JL.

All information contained herein regarding each of the securities (the “Relevant Securities”), as chosen by JIL to give both security level details and aggregated views of the convertible bonds market in which Jefferies entities participate, is provided at your request for informational purposes only, and is intended solely for your use and may not be quoted, reproduced, circulated or otherwise referred to, or in a manner contrary to that set out herein, without our express consent. 

Neither the communication of, nor the content of, the JCSP shall constitute an offer to sell or the solicitation of an offer to purchase any Relevant Securities at this or any other level. Any discussions in respect of the JCSP, or transactions which you may enter into in respect of the Relevant Securities with a Jefferies entity, will be conducted between you and the Jefferies entity with whom you ordinarily undertake such transactions in your jurisdiction. For example, for recipients based in the United States, all transactions will be entered into by Jefferies LLC.

The JCSP has not been tested independently by JIL. Neither JIL nor any other Jefferies entity makes any representation or warranty with respect to the accuracy of the JCSP nor is responsible for losses or damages or claims relating in any way to the JCSP. The data, information or content provided herein may differ substantially from actual values or actionable information, may vary significantly from valuation estimates from other sources, do not necessarily reflect JIL’s internal bookkeeping or theoretical model-based valuations and may be affected by various factors, such as size, underlying volatility, and costs of carry, which were not assessed and may substantially affect such data, information or content. The JCSP is as of the date of this communication and is subject to change without notice; JIL does not undertake any obligation to update the JCSP.

The JCSP is not a benchmark pursuant to Regulation (EU) 2016/1011 (otherwise known as the “EU Benchmarks Regulation”) or the equivalent legislation applicable in the United Kingdom, and neither the EU Benchmarks Regulation nor the equivalent legislation applicable in the United Kingdom shall apply to the JCSP. The JCSP may not be utilised in any manner that would be regarded as a “use of a benchmark” or otherwise result in the JCSP being regarded as a “benchmark” (in each case as such term is defined in the EU Benchmarks Regulation and the equivalent legislation applicable in the United Kingdom). In particular, no person shall use the JCSP as a reference by which (i) the amount payable under a financial instrument or a financial contract, or the value of a financial instrument, is determined, or (ii) the performance of an investment fund is measured, with the purpose of tracking the return of such index or defining the asset allocation of a portfolio or of computing the performance fees.

The JCSP does not constitute, and is not intended to constitute, investment advice. The inclusion of the Relevant Securities in the JCSP should not be viewed as a recommendation by JIL or any other Jefferies entity to buy, sell, or trade in such securities, or a recommendation not to trade in other securities.  Any investment decisions you make should not be based solely on the JCSP, but should consider other available information in the marketplace. Neither JIL nor any other Jefferies entity makes any guarantee of profit nor offers any protection against loss as a result of your use of the JCSP. Your use of the JCSP is at your sole risk and you are solely responsible for your use and interpretation of the information included in or derived from the JCSP.

The information contained herein is proprietary to JIL and is protected under intellectual property laws. JIL owns all rights, title and interest, including without limitation, all copyrights, in and to all content of this communication. Other than the right to access the communication and view information contained therein under the terms and conditions set forth herein, you acquire no ownership, title or right of interest of any kind in or to any of the content of this communication.

Where we have made a disclosure in relation to conflicts of interest in this communication, this is because the organisational and administrative arrangements established under our conflicts of interest policies may not be sufficient to ensure with reasonable confidence that the risk of damage to your interests will be prevented.

JIL and its affiliates may, from time to time, perform investment banking or other services for, or solicit investment banking or other business from, any issuer of the Relevant Securities. In connection with providing these services, JIL and its affiliates and their respective officers, directors, and employees may come into possession of confidential and/or material non-public information with respect to any issuer of the Relevant Securities, which, if disclosed, might affect your decision to buy or sell or hold a Relevant Security.  Under applicable law, JIL and its affiliates and their respective officers, directors, and employees are prohibited from improperly disclosing or using such information for their personal benefit or for the benefit of any other person, regardless of whether such a person is a customer of JIL or its affiliates. Accordingly, should JIL and its affiliates and their respective officers, directors, and employees come into possession of confidential or material non-public information with respect to any issuer of the Relevant Securities, they shall be prohibited from communicating such information to you, and neither JIL nor its affiliates shall have any responsibility or liability for failing to disclose such information to you as a result of following policies and procedures designed to comply with applicable law.

JIL and its affiliates and their respective officers, directors, and employees may also from time to time hold long or short positions in, buy or sell (on a principal basis or otherwise), or act as market maker in, securities, futures or other financial instruments or products related to the Relevant Securities. JIL is not an adviser as to legal, taxation, accounting or regulatory matters in any jurisdiction, and is not providing any advice as to any such matter to the recipient. The recipient of this communication should take their own independent advice with respect to such matters.

For recipients located in the United States, please note that, with respect to the information in this document, JIL: (i) is not acting as a municipal advisor, financial advisor or fiduciary to any person or entity; (ii) will not have any duties or liability to any person or entity; and (iii) is not recommending an action to you. The information provided is not intended to be and should not be construed as “advice” within the meaning of Section 15B of the Securities Exchange Act of 1934. The recipient should consult with its own financial and/or municipal, legal, accounting, tax, and other advisors to the extent it deems appropriate.