Terms and conditions

Use of website

1. The information provided on this website or in any communication containing a link to this site is for personal use and informational purposes only and is not intended for distribution to, or use by, any person or entity in any jurisdiction in any country where such distribution or use would be contrary to law or regulation or which would subject any member of the NatWest Markets to any registration requirement within such jurisdiction or country. Where any opinions are expressed on this website, they are provided by the NatWest Markets for personal use and for informational purposes only.
2. Unless otherwise stated on the product pages, the services and products on this website are intended for use by United States corporate and institutional customers only, and are not aimed at or intended for use by residents of any other jurisdiction or retail customers.
3. You must not reverse engineer, decompile, disassemble, modify, translate, make any attempt to discover the source code of any software comprised in this website, or create derivative works based on same, except as permitted by law. You must not sublicense, assign or transfer the license created hereby, or rent, lease or provide access to any portion of any software comprised in the website to others.
4. This website is designed to be accessed through its principal home pages and such other pages as we may decide. If you access the site through individual pages directly, which are not designed for this purpose, you may not see important information which is relevant to information on this website. This information will contain important details and relevant legal or regulatory information and should be read in conjunction with the relevant site pages.
5. You must not use this website (or permit or procure other to use it) as follows:
   
   i. for any unlawful, improper or illegal purpose or activity;
   
   ii. to violate copyright, trademark, proprietary or other intellectual property rights of any member of the NatWest Markets or any third party;
   
   iii. to damage the name or reputation of any member of the NatWest Markets or any third party;
   
   iv. to impersonate any of our employees or other person or use a false name while using this website or implying an association with us;
   
   v.to generate excessive amounts of internet traffic, to interfere with our network or other's use of this website or to engage in activities designed to or having the effect of degrading or denying service to users of this website or others;
   
   vi. to introduce a computer virus, 'trojan horse', worm, logic bomb, back door, malware or similar item onto the internet or into this website;
   
   vii. to transmit confidential or proprietary information, except your own and then solely at your own risk.

Your Privacy and Personal Data

6.     Please refer to our Privacy Policy.

Exclusion of liability

7.     These “Exclusion of Liability” provisions should be read carefully as they exclude or limit our legal liability in connection with your use of this website. Nothing in these terms and conditions and in particular within the “Exclusion of Liability” clauses shall attempt to exclude liability that is not permissible under applicable law, including without limitation, for death or personal injury, or for fraudulent misrepresentation or to the extent that such liability may not be limited or excluded under applicable law.

8.     Nothing in these terms and conditions shall exclude or limit or restrict our duties and liabilities to you under relevant securities, state or federal rules or laws, or any conduct of business rules which we are bound to comply with.

9.     While we have taken all reasonable steps to ensure the accuracy and completeness of the content of the website, we exclude any warranties, undertakings or representations (either express or implied) to the full extent permitted under applicable law, that the website or (including without limitation) all or any part of the content or materials, accuracy, availability or completeness of the content of the website or any part of the content or materials are appropriate or available for use either in the United States or in other jurisdictions. If you use this website from other jurisdictions, you are responsible for compliance with applicable local laws.

10.  We accept no liability (including without limitation) in either contract, tort, negligence, statutory duty or otherwise (to the maximum extent permitted by applicable law) arising out of the use of or access to this website (which includes without limitation) any errors or omissions contained in this website or if the website is unavailable and we shall not be liable for any direct or indirect:

• economic losses (including without limitation loss of revenues, data, profits, contracts, use, opportunity, business or anticipated savings);
• loss of goodwill or reputation; and/or special or incidental loss or damage, suffered or incurred arising out of or in connection with your use of this website and these terms and conditions.

11.  Access to and use of this website is at the user's own risk and we do not warrant that the use of this website or any material downloaded from it will not cause damage to any property, or otherwise minimize or eliminate the inherent risks of the internet including but not limited to loss of data, computer virus infection, spyware, malicious software, trojans and worms. Also, we accept no liability in respect of losses or damages arising out of changes made to the content of this website by unauthorized third parties.

12.  To provide increased value to users of this website, we may provide links to other websites or resources (that are not part of NatWest Markets) for you to access at your sole discretion. You acknowledge and agree that, as you have chosen to enter the linked website we are not responsible for the availability of such external sites or resources, and do not review or endorse and shall not be responsible or liable, directly or indirectly, for (i) the privacy practices of such websites, (ii) the content of such websites, including (without limitation) any advertising, content, products, goods or other materials or services on or available from such websites or resources or (iii) the use that others make of these websites or resources, nor for any damage, loss or offence caused or alleged to be caused by, or in connection with, the use of or reliance on any such advertising, content, products, goods or other materials or services available on such external websites or resources.

13.  The above limitation or exclusion may not apply to you to the extent that applicable law may not allow the limitation or exclusion of liability for incidental loss or damage.

Trade marks

14.  This website contains numerous trade marks belonging to NatWest Markets, NatWest Group plc and other companies in the NatWest Group. These trade marks include, but are not limited to, the NatWest Group logo, NatWest Group, and NatWest. If you are in doubt as to whether a trade mark is a trade mark of NatWest Markets, NatWest Group plc, or any other company in the NatWest Group, please contact us for clarification at the registered office address below.

Advice

15.  The contents of this website do not purport to provide any financial, investment or professional advice and nothing on the pages of this website shall be deemed to constitute the offer or provision of financial, investment or other professional advice in any way. In particular, you should obtain advice from a qualified expert before making any investment decision.

Regulatory information and Registered Details

16.  NatWest Markets conducts its U.S. securities business through NatWest Markets Securities Inc., 600 Washington Blvd, Stamford, CT, 06901, a Delaware Corporation, a U.S. registered broker-dealer, member of FINRA (http://www.finra.org) and SIPC (http://www.sipc.org), and an indirect wholly-owned subsidiary of NatWest Group plc.

17.  NatWest Markets Plc. Registered in Scotland No 90312 with limited liability. Registered Office: 36 St Andrew Square, Edinburgh EH2 2YB. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. The Bank is entered in the FCA's Register and its Register number is 121882. The FCA's Register can be accessed at www.fca.org.uk/register/. The Bank's registered VAT number is GB 243852752.

18.  NatWest Markets N.V. is authorised and supervised by De Nederlandsche Bank, the European Central Bank and the Autoriteit Financiële Markten. It has its seat at Amsterdam, The Netherlands, and is registered in the Commercial Register under number 33002587. Registered Office: Claude Debussylaan 94, Amsterdam, The Netherlands. NatWest Markets Plc is in certain jurisdictions an authorised agent of NatWest Markets N.V and NatWest Markets N.V is in certain jurisdictions an authorised agent of NatWest Markets Plc.

19.  NatWest Markets Plc, Singapore branch [UEN: S85FC3595J] is authorised and regulated by the Monetary Authority of Singapore.

20.  In Japan, NatWest Markets Securities Japan Limited [Kanto Financial Bureau (Kin-sho) No. 202] is authorised and regulated by the Japan Financial Services Agency.

Changes to website

21.  The contents of this website, including these terms and conditions of use, are subject to change by us without notification and NatWest Markets shall not be obliged to remove any outdated information from the website or to expressly mark it as being outdated.

Telephone calls

22.  Calls may be recorded.

Internet communications

23.  In order to maintain the security of its systems, protect its staff and detect fraud and other crimes, the NatWest Markets reserves the right to monitor all internet communications, including web and email traffic, into and out of its domains. Monitoring includes checks for, but not limited to; viruses and other malignant code, criminal activity, and use or content which is unauthorized or unlawful, or material that may cause offence in any way.

United States residents

24.  This website and its respective contents do not constitute an offer or invitation to purchase or subscribe for any securities or a solicitation of any offer to sell any securities or any other banking product or service to U.S. persons.

Other important information

25.  The information, and any opinion contained in this website does not constitute a public offer under any applicable legislation or an offer to sell or solicitation or an offer to buy any securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments.

26.  This website contains certain "forward looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995, such as statements that include the words "expect", "estimate", "project", "anticipate", "should", "intend", "plan", "probability"", "risk", "Value-at-Risk ("VAR")", "target", "goal", "objective", "will", "endeavour", "outlook", "optimistic", "prospects" and similar expressions or variations on such expressions.

27.  Factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this website include, but are not limited to, general economic conditions in the UK and in other countries in which the NatWest Group has significant business activities or investments, including in the United States; the monetary and interest rate policies of the Bank of England, the Board of Governors of the Federal Reserve System and other G-7 central banks; unanticipated turbulence in interest rates, foreign currency exchange rates, commodity prices or equity prices; changes in UK or foreign laws, regulations or taxes; changes in competition or pricing environments; natural and other disasters; the inability to hedge certain risks economically; the adequacy of loss reserves; acquisitions or restructurings; technology changes; changes in consumer spending and saving habits; and the success of the NatWest Group in managing the risks involved in the foregoing. The risks and uncertainties are discussed in the NatWest Group's SEC filings. The forward-looking statements contained in this website speak only as of the date of the related document, and the NatWest Group does not undertake to update any forward looking statement to reflect events or circumstances after the date hereof.

28.  The information contained in this website is subject to, and must be read in conjunction with, all other publicly available information, including, where relevant any fuller disclosure document published by NatWest Markets.

29.  Any person at any time acquiring the securities must do so only on the basis of such person's own judgement as to the merits of the suitability of the securities for its purposes and only on such information as is contained such in public information having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained herein.

30.  The information is not tailored for any particular investor and does not constitute individual investment advice.

31.  Information in this website relating to the price at which investments have been bought or sold in the past or the yield on investments cannot be relied upon as a guide to future performance.

32.  The financial information published or to be published on this website, or made available or to be made available through this website, such as annual reports and quarterly reports, is compiled and placed on this website with the greatest of care. Nevertheless, only the original hard-copy English versions of this information shall be regarded as the original version. No rights may be derived from financial information published or to be published on this website, or available or to be made available through this website, including with regard to its accuracy and completeness.

33.  In addition, it should be noted that the annual report and accounts of the NatWest Group which are published on this website or made available through this website, may be subject to adoption by the Annual General Meeting of Shareholders of the NatWest Group for the year to which the report and accounts relate.

General information

Enforceability

34.  In the event any provision of these terms and conditions of use and access of this website is held unenforceable, it will not affect the validity and enforceability of the remaining provisions and will be replaced by an enforceable provision that comes the closest to the intention underlying the unenforceable provision.

Governing law

35.  The terms and conditions of use of this website are governed by the laws of New York and any dispute regarding this website shall be subject to the exclusive jurisdiction of the New York courts.

Notice to customers

36.  To help the US government fight the funding of terrorism and money laundering activities, all financial institutions are required by law to obtain, verify and record information that identifies each individual or entity that opens an account.