bestuursrecht hc bronnen van bestuursrecht: wet en regelgeving jurisprudentie rechtspraak van bestuursrechter rechtbanken, afdeling bestuursrechtspraak rvs. additional notes will be considered part of the same tranche as these notes. 7N”=94Q_XAW)=”_ETXM)4E<_9/-_H. In recent months, AWB has initiated several actions which have begun Two tranches of the facility mature in while tranche 3 matures Further details are contained in note 7 Transition to A-IFRS of AWB's Appendix 4E.

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By contrast, a synthetic portfolio that does not rebalance monthly and is not subject to any weighting caps in this manner could see greater compounded gains over time through exposure to a consistently and rapidly appreciating portfolio consisting of the Basket Constituents.

Investments in the notes, which are linked in part to the economic stability and development of such countries, involve risks associated with investments in, or the securities markets in, those countries. Holders — Additional Tax Consideration. How can an increased life expectancy affect your retirement? Following a ratings downgrade or the widening of credit spreads, some or all of the underlying bonds may suffer significant and rapid price declines. Even though the Index increases over the term of the notes, due to the application of the Index Factor, the Interest Payments do not increase at the same rate and, in some cases, the Interest Payments decrease.

Fees and Commissions 2. JPMSL is under no obligation to consider your interests as an investor in the notes. Investing in the notes involves a number of risks. If these fees and expenses were included, the hypothetical payouts shown above would likely be lower.

Jansen D.N.N.

Upon any acceleration of the notes, any interest will be calculated on the basis of day year of twelve day months and the actual number of days elapsed from and including the previous Interest Payment Date for which interest was paid; and.

This fee will be deducted daily.

In addition, our business activities, including hedging and trading activities, could cause our economic interests to be adverse to yours and could adversely 4r any payment on the notes and the value of the notes. If the price of the U. Professional singer Graham appreciates the constant monthly income that his lifetime annuity brings him.

Get guaranteed income payments for life and gain peace of mind in your retirement

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the notes or passed upon the accuracy or the adequacy of this pricing supplement or the accompanying product supplement, underlying supplement, prospectus supplement and prospectus.


In addition, the return from the Interest Payments that you may receive over the term of the notes tranchs be less than the Index performance over the term of the notes. The hypothetical historical values above have not been verified by an independent third party. Validity of the Notes. We obtained the Index closing levels below from Bloomberg Financial Markets. Hypothetical Examples of Amounts Payable at Maturity. Actual results will vary, perhaps materially, from the analysis implied in the hypothetical historical information that forms part of the information contained in the chart above.

There is no actual portfolio of assets to which any person is entitled or in which any person has any ownership interest. The hypothetical Interest Rates set forth below are for illustrative purposes only and may not be the actual Interest Rates applicable to a purchaser of the notes. In example 3, the Index trancue by varying amounts during each year over the term of the notes.

Explanation for Example 3. The following are the Basket Constituents composing the Tranvhe and the maximum weighting constraints assigned to the relevant sector and asset type to which each belongs:. Such regimes may result in the index calculation agent exercising its discretionary right to exclude or substitute Basket Constituents, which may, in turn, have a negative effect on the level of the Index and the Interest Payment, if any, on each Interest Payment Date.

While significant aspects of the application of these proposed regulations to the notes are uncertain, if these proposed regulations were finalized in their current form, we or other tranchhe agents might determine that withholding is required with respect to teanche held by a Non-U. Featured products Lifetime annuities Provides a guaranteed regular income for your lifetime regardless of how investment markets perform or how long you live.

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If you have reached Age Pension age you may be eligible for the Age Pension and other benefits. Among other things, a U. In addition, corporate actions with respect to the sample of securities such as mergers and spin-offs may impact the variance between the ETF Constituents and their respective underlying indices.

The impact of any of these risks may enhance or offset some or all of any change resulting from another factor or factors. The recent downgrade has increased and may continue to increase volatility in the global equity and credit markets, which may adversely affect the levels of the Non-Cash Constituents.

Small capitalization companies may be less able to withstand adverse economic, market, trade and competitive conditions relative to larger companies.


If a commodity hedging disruption event occurs, we may adjust further Interest Payments. The notes priced on March 27, and are expected to settle on or about March 30, Holder or that the Non-U. In addition, the prices of the underlying bonds are significantly influenced by the creditworthiness of the issuers of the bonds. POTENTIAL CONFLICTS — We and our affiliates play a variety of roles in connection with the issuance of the notes, including acting as note calculation agent — the entity that, among other things, determines the Index closing levels to be used to determine the Interest Payment, if any, we will pay you on each Interest Payment Date — and acting as index calculation agent and sponsor of the Index and hedging our obligations under the notes.

The weight of the Cash Constituent at any given time represents the portion of the synthetic portfolio that is uninvested at that time and the Index will reflect no return for that portion.

Therefore, the return on your investment in the notes may be less than the amount that would be paid on a conventional security having a similar maturity issued by us or an issuer with a comparable credit rating. Investing in the notes linked indirectly to these Basket Constituents differs significantly from investing directly in bonds to be held to maturity as the values of the Bond ETFs change, at times significantly, during each trading day based upon the current market prices of their underlying bonds.

You are in safe hands with Challenger. No assurance can be given that the investment strategy used to construct the Index will be successful or that the Index will outperform any alternative basket or strategy rranche might be constructed from the Basket Constituents.

Holder must provide information to establish that withholding is not required. Get an idea of the income you’ll need to match your lifestyle expectations. High yield securities may also be subject to greater levels of credit or default risk than higher-rated securities. Explanation for Example 1. These and other factors may affect the values of the constituents trnache from time to time in the Index, and thus the value of your notes, in unpredictable or unanticipated ways.

The negative impact of the Index Factor will also be greater the longer the term of the notes.