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By accessing this Website, you acknowledge that you have read, understood and agree to the following terms of use of Deal Vault ("us" or "we"). If you do not wish to agree to the terms of use, please leave the Website immediately. The terms of use may be modified and the use of the Website may be restricted or terminated at any time without notice. This Website and the information contained herein are intended solely for persons who are not U.S. Persons (as defined under Regulation S of the U.S. Securities Act of 1933) and who are permitted under the applicable laws of their jurisdiction to access such information. The information is directed at professional clients and eligible counterparties (and, where applicable, retail clients) domiciled in Switzerland and the European Economic Area, subject to applicable regulatory restrictions. No representation is made that the information is appropriate or lawful for use in any other jurisdiction. The information contained on this Website is provided without regard to the investment objectives, financial situation or particular needs of any specific person. Certain products may be available only to professional clients or eligible counterparties within the meaning of Directive 2014/65/EU (MiFID II). We reject any liability or guarantee for damages resulting from an incorrect declaration of residence.

The information and opinions published on this Website do not constitute a solicitation, offer, or recommendation to use any service, to buy or sell any financial product, or to engage in any other transaction. The financial products mentioned on this Website involve risk and are not suitable for all investors. This Website is not intended to provide investment advice or any other basis for decision-making and does not constitute financial, legal, tax, and/or other advice. It is not a substitute for the qualified advice required prior to any purchase decision, in particular with regard to all associated risks. No investment or other decisions should be made on the basis of this Website.

The financial products described on this Website may constitute derivative financial instruments and do not qualify as units of a collective investment scheme pursuant to the Swiss Federal Act on Collective Investment Schemes (CISA). Accordingly, they are not subject to authorization or supervision by the Swiss Financial Market Supervisory Authority (FINMA) under CISA, and investors do not benefit from the investor protection provisions applicable to collective investment schemes. Investors should make sure that they understand the nature of the financial products and the risk they intend to take. Such transactions should only be undertaken by those who are absolutely clear about the risks of the transaction to be concluded and who are financially able to bear the losses that may occur as a result. An investment in the published financial products may not be suitable for every investor. Past performance is not an indication or guarantee of future price performance of the financial product or underlying asset. No liability or guarantee, express or implied, is made with respect to future performance. The value of any investment may be subject to fluctuations and, in some circumstances, investors may not recover the original amount invested. Exchange rate fluctuations may also cause the value of an investment to rise or fall.

The information on this Website about the financial products is not available to persons residing in certain countries. Please note the selling restrictions applicable to the relevant financial products as set out in the relevant product documentation. For detailed information on selling restrictions, please refer to the respective issuance program of the respective issuer. No action has been or will be taken to permit a public offering of the products or possession or distribution of any offering material in relation to the products in any jurisdiction, where such action for that purpose is required. Consequently, any offer, sale or delivery of the products, or distribution or publication of any offering material relating to the products, may only be made in or from any jurisdiction in compliance with applicable laws and regulations not imposing any obligations on the issuers or the lead manager. Possible limitations resulting from legal restrictions with regard to cross-border communication and cross-border business concerning the products and related information remain reserved. The most important jurisdictions where the products may not be publicly distributed are EEA, UK, Hong Kong and Singapore.

All intellectual property rights (such as copyright, design rights, and trademark rights) in the material contained on this Website are owned by us or by the issuers of the financial products, who will enforce the relevant rights in accordance with the applicable laws. Use of this Website does not grant the user any rights in the content, registered trademarks, or otherwise in any part of this Website. Any reproduction, republication, or distribution of the content of this Website requires our written consent and/or that of the relevant issuers of the financial products and is only permitted with full acknowledgement of the source.

No representation is made as to the accuracy, timeliness, or completeness of the information and opinions contained on this Website or the results obtained from the use of this Website. All available data, such as financial market data, price data, reports, or other financial market information, are based on sources that are deemed reliable and have been carefully selected. Opinions, estimates, and forecasts are those of the authors at the time of writing. There is no obligation or responsibility to update or correct such information. This Website is subject to changes at any time without notice. In the event of any inconsistency between language versions, the English version shall prevail.

We and/or our directors, officers, and employees may have/had interests or positions or traded or acted as distributors or market makers in financial products mentioned on the Website. In addition, such legal entities or individuals may have/had a relationship with, provide/provided services to, or have/had a seat on the board of directors of companies mentioned on the Website. From time to time, the issuers and/or lead manager and/or their third-party agents may, for their own account or for the account of others, take positions in securities, currencies, financial instruments or other assets that serve as an underlying asset to the products on this Website. They may buy or sell these assets, act as market makers, and simultaneously operate as seller or as purchaser. The trading or hedging activities of the issuers and/or lead manager and/or their third-party agents may influence the price of an underlying asset and may influence whether or not the relevant barrier level is reached (if such a level exists).

We shall not be liable, even in the case of negligence, for any damages or consequential damages arising out of or in connection with the access or use of this Website or the inability to access or use it. Accessing this Website does not create any contractual relationship, advisory relationship, fiduciary duty or client relationship between the user and the operator of the Website or any affiliated entity.

Selling Restrictions

Neither this marketing page or other marketing material or offering material, including Termsheet, may be publicly distributed or otherwise be made publicly available in Switzerland. This Product may be distributed in or from Switzerland only to professional or institutional clients within the meaning of article 4 et seq. FinSA, as amended from time to time, and only marketing efforts commonly deployed for the market with such a selected investors' universe may be used. No action has been or will be taken to permit a public offering of the Product or possession or distribution of any offering material in relation to the Product in any jurisdiction, where such action for that purpose is required. Consequently, any offer, sale or delivery of the Product, or distribution or publication of any offering material relating to the Product, may only be made in or from any jurisdiction in compliance with applicable laws and regulations not imposing any obligations on the Issuing Parties or the Product Sponsor. Possible limitations resulting from legal restrictions regarding cross-border communication and cross-border business concerning the Product and related information remain reserved. Most important jurisdictions where the Product may not be publicly distributed are Switzerland, Singapore, Hong Kong, Panama, Liechtenstein, Dubai and European Economic Area. Most important jurisdictions where the Product may not be subscribed by investors are Albania, Barbados, Cambodia, Canada, Colombia, Guernsey, Haiti, Iran, Jamaica, Myanmar, Nicaragua, North Korea, Pakistan, Syria, Ukraine, United Kingdom, United States of America (to or for the account or benefit of US persons as defined in Regulation S), Vanuatu, Venezuela, Yemen, all African countries except Mauritius and South Africa, all countries of the Commonwealth of Independent States. The Product neither has been nor will be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and the Product may neither be offered nor sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act). Switzerland: The Product may not be offered, sold or advertised, directly or indirectly, in Switzerland to retail clients (Privatkundinnen und -kunden) within the meaning of FinSA ("Retail Clients"). The offering of the Product directly or indirectly, in Switzerland will only be made to Investors classified as professional clients (professionelle Kunden) or institutional clients (institutionelle Kunden) as per FinSA ("Professional or Institutional Clients"). No application has or will be made to admit the Product to trading on any trading venue (exchange, multilateral trading facility) in Switzerland. Detailed information on Selling Restrictions can be ordered free of charge from the Product Sponsor via e-mail (info@blackbulle.com).

Legal Notice / Disclaimer

Product Documentation: The detailed and legally binding product information for this Product ("Product Documentation") can be ordered free of charge from the Product Sponsor via e-mail (info@blackbulle.com) during the whole term of this Product. Even though a translation into other languages might be available, only the English version of the Product Documentation is legally binding. No Offer: The Termsheet available is primarily provided for information purposes and does not constitute a recommendation, an offer or a solicitation of an offer to buy financial products. No Representation: The Issuer, the Product Sponsor and any third party appointed by them make no representation or warranty relating to any information in the Termsheet which is derived from independent sources.

This website is operated by Novum Asset Management AG.

Contact

Novum Asset Management AG
Gewerbeweg 9 | FL-9490 Vaduz
Email: info@dealvault.co
Website: www.novum.li

Disclaimer of Liability

Novum Asset Management AG ("we" or "us") assumes no liability whatsoever with regard to the correctness, accuracy, up-to-dateness, reliability and completeness of the information provided on this website. We are constantly developing the content of this website and strive to provide correct and up-to-date information. We do not accept any liability for the correctness of all the content on this website, especially for content provided by third parties. We are service providers and are not obligated to monitor the information transmitted or stored by them or to search for circumstances that indicate illegal activity. Liability claims against us for material or immaterial damage arising from access to or use or non-use of the published information on this website, from misuse of the connection or from technical faults are excluded. We expressly reserves the right to change, supplement or delete parts of the pages or the entire offer without special notice or to temporarily or permanently cease publication.

Disclaimer for Links

This website contains links to other websites for whose content we are not responsible. Any responsibility for such websites is rejected. Access to and use of such websites is at the user's own risk.

Copyright, Trademark Rights, Licensing Rights, and Other Rights

All elements on this website are protected by copyright. Individual pages and/or sections of this website may be saved or printed out, insofar as neither the copyright notices nor other legally protected designations are removed. By storing or otherwise reproducing software or other data on this website, users are agreeing to comply with and be bound by the relevant terms and conditions of use. All rights of ownership remain with Deal Vault. The complete or partial reproduction, transmission (either electronically or by other means), modification, linking or use of this website for public or commercial purposes is prohibited without the prior written consent of Deal Vault.