Invitation to Consider a Derivatives Transaction: This communication is prepared by the sales and trading desk and is marketing material and/or trader commentary. It does not constitute research. This material constitutes an invitation to consider entering into a derivatives transaction under U.S. CFTC Regulations 1.71 and 23.605, where applicable, but is not a binding offer to buy/sell any financial instrument. The views of the author may differ from others at NatWest Markets Plc, NatWest Markets N.V. and/or NatWest Markets Securities Inc. (collectively "NatWest Markets").
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Certain transactions, including those involving futures, options, derivatives and high yield securities, give rise to substantial risk and are not suitable for all investors. Foreign currency denominated securities are subject to fluctuations in exchange rates that could have an adverse effect on the value or price of or income derived from any investments discussed herein. In addition, investors in securities such as ADRs, the values of which are influenced by foreign currencies, effectively assume currency risk. Please ensure that you have read and understood the current options disclosure document before entering into any options transactions. United States listed options disclosure documents are available from our sales representatives or at http://www.theocc.com/components/docs/riskstoc.pdf. Unless otherwise specifically stated, all statements contained herein (including any views, opinions or forecasts) are as of the date indicated only, and are subject to change without notice. Changes to assumptions made in the preparation of such material may have a material impact on returns. NatWest Markets Securities Inc. does not undertake a duty to update this material or to notify you when or whether the analysis has changed. While the information contained in this material is believed to be reliable, no representation or warranty, whether express or implied, is made and no liability or responsibility is accepted by NatWest Markets Securities Inc. or its affiliates as to the accuracy or completeness thereof, except with respect to any disclosures relative to NatWest Markets Securities Inc. and/or its affiliates and the author’s involvement with an issuer that is the subject of this material.
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The views expressed in this publication accurately reflect the author’s personal views about the subject financial instruments and issuers, and no part of the author’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views contained herein.