Important Information
Legal Notice: This document is CONFIDENTIAL AND FOR DISCUSSION PURPOSES ONLY; it constitutes a marketing communication and has been prepared by a Sales and Marketing function within BNP Paribas and/or its subsidiaries or affiliates (collectively “we” or “BNP Paribas”). As a confidential document it is submitted to selected recipients only and it may not be made available (in whole or in part) to any other person without BNP Paribas’ written consent.
This document is not a recommendation to engage in any action, does not constitute or form any part of any offer to sell or issue and is not a solicitation of any offer to purchase any financial instrument, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. To the extent that any transaction is subsequently entered into between the recipient and BNP Paribas, such transaction will be entered into upon such terms as may be agreed by the parties in the relevant documentation.
The information contained in this document has been obtained from sources believed to be reliable, but there is no guarantee of the accuracy, completeness or suitability for any particular purpose of such information or that such information has been independently verified by BNP Paribas or by any person. None of BNP Paribas, its members, directors, officers, agents or employees accepts any responsibility or liability whatsoever or makes any representation or warranty, express or implied, as to the accuracy or completeness of the information, or any opinions based thereon, contained in this document and it should not be used in place of professional advice. Additional information may be provided on request, at our discretion. Any scenarios, assumptions, historical or simulated performances, indicative prices or examples of potential transactions or returns are included for illustrative purposes only. Past performance is not indicative of future results. Investors may get back less than they invested. BNP Paribas gives no assurance that any favourable scenarios described are likely to happen, that it is possible to trade on the terms described herein or that any potential returns illustrated can be achieved. This document is current as at the date of its production and BNP Paribas is under no obligation to update or keep current the information herein. In providing this document, BNP Paribas offers no investment, financial, legal, tax or any other type of advice to, and has no fiduciary duty towards, recipients. Certain strategies and/or potential transactions discussed in this document may involve the use of derivatives which may be complex in nature and may give rise to substantial risks, including the risk of total or partial loss of any investment or losses without limitation and which should only be undertaken by those with the requisite knowledge and experience. BNP Paribas makes no representation and gives no warranty as to the results to be obtained from any investment, strategy or transaction, or as to whether any strategy, security or transaction described herein may be suitable for recipients’ financial needs, circumstances or requirements. Recipients must make their own assessment of strategies, securities and/or potential transactions detailed herein, using such professional advisors as they deem appropriate. BNP Paribas accepts no liability for any direct or consequential losses arising from any action taken in connection with or reliance on the information contained in this document even where advised of the possibility of such losses.
As an investment bank with a wide range of activities, BNP Paribas may face conflicts of interest and you should be aware that BNP Paribas and/or any of its affiliates may be long or short, for their own account or as agent, in investments, transactions or strategies referred to in this document or related products before the material is published to clients and that it may engage in transactions in a manner inconsistent with the views expressed in this document, either for their own account or for the account of their clients. Additionally, BNP Paribas may have acted as an investment banker or may have provided significant advice or investment services to companies or in relation to investments mentioned in this document. The information in this document is not intended for distribution to, or use by, any person or entity in any jurisdiction where (a) the distribution or use of such information would be contrary to law or regulations, or (b) BNP Paribas or a BNP Paribas affiliate would become subject to new or additional legal or regulatory requirements. Persons in possession of this document should inform themselves about possible legal restrictions and observe them accordingly.
The BNP index described in this document (the “Index”) is the exclusive property of BNP Paribas (the “Index Sponsor”). BNP Paribas Arbitrage SNC (the “Index Calculation Agent”) and the Index Sponsor do not guarantee the accuracy and/or completeness of the composition, calculation, publication and adjustment of the Index, any data included therein, or any data from which it is based, and the Index Calculation Agent and the Index Sponsor shall have no liability for any errors, omissions, or interruptions therein. The Index Calculation Agent and the Index Sponsor make no warranty, express or implied, as to results to be obtained from the use of the Index. The Index Calculation Agent and the Index Sponsor make no express or implied warranties, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the Index or any data included therein. Without limiting any of the foregoing, in no event shall the Index Calculation Agent and the Index Sponsor have any liability for any special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages.
BNP PARIBAS HAS DEVELOPED, MAINTAINS AND IS THE SOLE PARTY RESPONSIBLE FOR THE METHODOLOGY THAT IS EMPLOYED IN CONNECTION WITH THE INDEX. PROSPECTIVE INVESTORS ARE ADVISED TO MAKE AN INVESTMENT IN ANY PRODUCT ONLY AFTER CAREFULLY CONSIDERING THE RISKS ASSOCIATED WITH INVESTING IN SUCH PRODUCT, AS DETAILED IN AN OFFERING MEMORANDUM OR SIMILAR DOCUMENT THAT IS PREPARED BY OR ON BEHALF OF THE ISSUER OF THE PRODUCT OR THE INDEX SPONSOR.
This document contains certain performance data based on back-testing (i.e., simulations of performance of a strategy, index or assets as if it had actually existed during a defined period of time). To the extent any such performance data is included, the scenarios, simulations, development expectations and forecasts contained in this document are for illustrative purposes only. All estimates and opinions included in this document constitute the judgment of BNP Paribas and its affiliates as of the date of the document and may be subject to change without notice. This type of information has inherent limitations which recipients must consider carefully. While the information has been prepared in good faith in accordance with BNP Paribas’ or its affiliates’ own internal models and other relevant sources, an analysis based on different models or assumptions may yield different results. Unlike actual performance records, simulated performance, returns or scenarios may not necessarily reflect certain market factors such as liquidity constraints, fees and transactions costs. Actual back-tested past performance does not constitute an indication of future results or performance.
The information in this document is not intended for distribution to, or use by, any person or entity in any jurisdiction where (a) the distribution or use of such information would be contrary to law or regulations, or (b) BNP Paribas or a BNP Paribas affiliate would become subject to new or additional legal or regulatory requirements.
This document is intended only for those defined under U.S. securities laws as “institutional Investors” and/or “major institutional investors”. Securities transactions with BNP Paribas that result from the provision of this document will be effected by or through BNP Paribas Securities Corp., a U.S. registered broker-dealer and member of FINRA, the New York Stock Exchange and other principal exchanges.
© BNP Paribas. All rights reserved.
BNP Paribas Securities Corp. (the “Company”) relies on the International Dealer Exemption pursuant to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations in Canada. To the extent that you have an account with the Company or deal with representatives of the Company, please note that:
(i) the Company is not registered in Canada to trade in securities;
(ii) the Company’s jurisdiction of residence is the United States of America;
(iii) all or substantially all of the assets of the Company may be situated outside of Canada;
(iv) there may be difficulty enforcing legal rights against the Company because of the above; and;
(v) the names and addresses of the Company’s agents for service of process in the local jurisdictions may be obtained upon request.
THIS DOCUMENT IS CONFIDENTIAL AND IS BEING SUBMITTED TO SELECTED RECIPIENTS ONLY WHO QUALIFY, AS REQUIRED UNDER APPLICABLE LAW IN CANADA, as CANADIAN PERMITTED CLIENTS, QUALIFIED PARTIES OR ACCREDITED COUNTERPARTIES.
Any offer or sale of securities described herein in Canada will be made only under an exemption from the requirements to file a prospectus with the relevant Canadian securities regulators and only by a dealer properly registered under applicable laws or, alternatively, pursuant to an exemption from the dealer registration requirement in the relevant province or territory of Canada in which such offer or sale is made. No securities commission or similar regulatory authority in Canada has reviewed or in any way passed judgment upon these materials, the information contained herein, or the merits of any securities described herein, if any.
BNP PARIBAS and its US affiliates are not financial institutions licensed in Mexico. Consequently, the marketing and offering of financial products may be limited by applicable International Treaties on transborder financial services provisions and Mexican applicable financial laws. Therefore, any information regarding financial products will be provided upon request of the interested party, and financial services will be rendered out of Mexican territory only.
BNP Paribas Global H-Factor Index
This product is not sponsored, endorsed, sold or promoted by BNP Paribas or any of its affiliates (collectively, “BNP Paribas”) or any third-party licensor of information to BNP Paribas. Neither BNP Paribas nor any other party (including without limitation, New Age Alpha LLC (“NAA”), any calculation agents or data providers make any representation or warranty, express or implied, regarding the advisability of purchasing this product. The BNP Paribas Global H-Factor Index (the “Index”) is the exclusive property of BNP Paribas with no ownership claim made with respect to “H-Factor” which is a registered trademark owned by NAA and licensed to BNP Paribas for the limited purpose of creating and licensing the Index, and all NAA indices and any index data thereto that are components of the Index. BNP Paribas and the Index are service marks of BNP Paribas and have been licensed for use for certain purposes by Nationwide Life and Annuity Insurance Company. Neither BNP Paribas nor any other party has or will have any obligation or liability to owners of this product in connection with the administration or marketing of this product, and neither BNP Paribas nor any other party guarantees the accuracy and/or the completeness of the Index or any data included therein.
The BNP Paribas Global H-Factor Index (the “BNPP Index”) is the exclusive property of BNP Paribas or one of its affiliates (BNP Paribas and its affiliates are hereinafter referred to as “BNPP”) with no ownership claim made with respect to H-Factor which is a trademark owned by NAA and licensed to BNP Paribas for the limited purpose of creating and licensing the BNPP Index, and all NAA indices and any index data thereto that are components of the BNPP Index. The BNPP Index is determined, composed and calculated by BNPP. “BNP”, “BNPP”, “BNP Paribas” and the “BNP Paribas Global H-Factor Index” (collectively, the “BNPP Marks”) are trademarks or service marks of BNPP and are licensed by Nationwide Life and Annuity Insurance Company. (the “Company”) for use in a [fixed indexed annuity][indexed universal life insurance product] (the “Company Product”) offered by the Company.
The Company Product is not, in whole or in part, sponsored, structured, priced, endorsed, offered, sold, issued or promoted by BNPP or any third party licensor of information to BNPP. BNPP’s only relationship to the Company is the licensing of the BNPP Index and the BNPP Marks for certain purposes as well as acting as a hedge provider to the Company with respect to the Company Product. Neither BNPP or any of its third party licensors (including but not limited to NAA), shall have any liability with respect to a Company Product, and are not liable for any loss relating to the Company Product, whether arising directly or indirectly from the use of the BNPP Index, its methodology, any third party information used in the Index or its methodology, any BNPP Mark or otherwise. BNPP and any third party licensor of information to BNPP, which includes but is not limited to NAA, make no representations or warranties regarding the Company Product.
No purchaser, seller or holder of the Company Product, or any other person or entity, should use or refer any BNPP Mark or other BNPP trade name, including those that may be licensed from third parties, to sponsor, endorse, market or promote the Company Product without first contacting BNPP. Under no circumstances may any person or entity claim any affiliation with BNPP without the prior written permission of BNPP. In calculating the level of the BNPP Index, BNPP deducts an annual fee of 0.50% per annum, calculated on a daily basis, which reduces the performance of the Index in the same way as a cost. In addition, the BNPP Index methodology embeds certain costs, which cover among other things, rebalancing, and replication costs. Such costs (if any) may vary over time with market conditions. These costs reduce the potential positive change in the BNPP Index and thus the amount of interest that will be credited to the Company Product that includes the BNPP Index. The volatility control applied by BNPP may reduce the potential positive or negative change in the BNPP Index and thus the amount of interest that will be credited to the Company Product that includes the BNPP Index.
The level of the BNPP Index includes the deduction of fees, which may be variable and will reduce the performance of the BNPP Index. Such fees may vary over time and may be significant. These fees reduce the potential performance of the Index and thus the amount of interest that will be credited to the Company Product that references or is linked to the BNPP Index. The methodology of the BNPP Index may yield different results than an investment in the components of the BNPP Index or any other investment or strategy.
BNPP AND NAA DO NOT GUARANTEE THE ACCURACY, ADEQUACY, TIMELINESS, COMPLETENESS OR AVAILABILITY OF THE BNPP INDEX OR ANY COMPONENT THEREOF OR DATA INCLUDED THEREIN, OR THAT NO ERROR, OMISSION, DELAY OR INTERRUPTION WILL EXIST THEREIN. BNPP AND NAA MAKE NO REPRESENTATIONS OR WARRANTIES, AND EXPRESSLY DISCLAIM ALL REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, REGARDING THE BNPP INDEX, ANY BNPP MARK, OR THE COMPANY PRODUCT, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, OR THE ADVISABILITY OF ANY PERSON INVESTING IN THE COMPANY PRODUCT.
BNPP and NAA shall not have any liability for any modification or change in the methodology of the BNPP Index or connection with the level of the BNPP Index at any given time. BNPP and NAA shall not be held liable for any loss whatsoever, directly or indirectly related to the BNPP Index. BNPP and NAA do not guarantee the accuracy of the BNPP Index or the calculation methods, or for any use thereof. BNPP and NAA do not make any representation whatsoever, either as to the results to be obtained from the use of the BNPP Index. The market data used to calculate the BNPP Index and any component indices may be furnished by third party sources that are believed to be reliable; however, neither BNPP nor NAA make any representations or guarantees with respect to, and are under no obligation to verify, the accuracy and completeness thereof.
The Index incorporates deductions for fees. These fees are an annual fee of 0.50%, deducted on a daily basis and certain variable fees intended to approximate the costs or charges that may be incurred when executing the strategy of the Index and will vary under different market conditions. Fees are determined based on certain assumptions and may not reflect actual market activity or actual costs or fees that may be incurred by any person, including BNP Paribas, in executing the strategy of the Index.
This document is provided for informational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities. New Age Alpha may discuss general market activity, industry or sector trends, or other broad-based economic or market conditions and this should not be construed as research, securities recommendations or investment advice. Investors are urged to consult with their financial advisors before buying or selling any securities. Any forecasts or predictions are subject to high levels of uncertainty that may affect actual performance. Accordingly, all such predictions should be viewed as merely representative of a broad range of possible outcomes. Past performance is not a guarantee of future performance.
New Age Alpha will obtain information concerning its component indexes to the Underlying Index from publicly available sources that it believes reliable, it will not independently verify this information. Accordingly, no representation, warranty or undertaking (express or implied) is made and no responsibility is accepted by New Age Alpha as to the accuracy, completeness and timeliness of information concerning any component indexes as they relate to the Underlying Index.
All New Age Alpha trademarks, including the H-Factor, are owned by New Age Alpha LLC. All other company or product names mentioned herein are the property of their respective owners and should not be deemed to be an endorsement of any New Age Alpha product or fund.
CC: NAA10311, SKU: 10178
New Age Alpha Global Leading Index (the “Index”) is the property of New Age Alpha LLC, which has contracted with S&P Dow Jones Indices LLC or its affiliate (“S&PDJI”) to maintain and calculate the Index. New Age Alpha LLC and S&PDJI shall have no liability for any errors or omissions in calculating the Index. The New Age Alpha Global Leading Index based on the Index is not sponsored, endorsed, sold or promoted by New Age Alpha LLC, S&P Dow Jones Indices LLC, its affiliates or their third party licensors and neither New Age Alpha, LLC, S&P Dow Jones Indices LLC, its affiliates nor their third party licensors make any representation regarding the advisability of purchasing or investing in the New Age Alpha Global Leading Index.
