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Under the Euro Medium Term Note Programme ... - Finance - EDF

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Summary<br />

<br />

risk of a change of law<br />

The <strong>Term</strong>s and Conditions of <strong>the</strong> <strong>Note</strong>s are based on French<br />

law in effect as of <strong>the</strong> date of <strong>the</strong> Base Prospectus. No<br />

assurance can be given as to <strong>the</strong> impact of any possible judicial<br />

decision or change in French law or <strong>the</strong> official application or<br />

interpretation of French law after <strong>the</strong> date of this Base<br />

Prospectus.<br />

<br />

risk relating to <strong>the</strong> liquidity/trading market for <strong>the</strong> <strong>Note</strong>s<br />

<strong>Note</strong>s issued under <strong>the</strong> <strong>Programme</strong> may not be widely<br />

distributed and <strong>the</strong>re may be no active trading market in respect<br />

of such <strong>Note</strong>s.<br />

risks relating to exchange rates risks and exchange<br />

controls<br />

The Issuer will pay principal and interest in <strong>the</strong> currency<br />

specified in <strong>the</strong> relevant Final <strong>Term</strong>s. For investors whose<br />

financial activities are denominated in a currency o<strong>the</strong>r than <strong>the</strong><br />

specified currency in which <strong>the</strong> related <strong>Note</strong>s are denominated,<br />

<strong>the</strong>re is a risk of significant fluctuation in <strong>the</strong> rate of exchange<br />

between <strong>the</strong>se two currencies.<br />

<br />

risks relating to credit ratings<br />

The credit ratings assigned to <strong>the</strong> <strong>Note</strong>s may not reflect <strong>the</strong><br />

potential impact of all risks relating to <strong>the</strong> <strong>Note</strong>s, and o<strong>the</strong>r<br />

factors which may affect <strong>the</strong> value of <strong>the</strong> <strong>Note</strong>s.<br />

<br />

risks related to <strong>the</strong> market value of <strong>the</strong> <strong>Note</strong>s<br />

The market value of <strong>the</strong> <strong>Note</strong>s will be affected by <strong>the</strong><br />

creditworthiness of <strong>the</strong> Issuer and a number of additional<br />

factors.<br />

There are also risks relating to <strong>the</strong> structure of a particular issue of<br />

<strong>Note</strong>s (<strong>Note</strong>s subject to optional redemption of <strong>the</strong> Issuer, Fixed<br />

Rate <strong>Note</strong>s, Floating Rate <strong>Note</strong>s, Inverse Floating Rate <strong>Note</strong>s,<br />

Fixed/Floating Rate <strong>Note</strong>s, <strong>Note</strong>s issued at a substantial discount or<br />

premium, Index-Linked <strong>Note</strong>s, Partly Paid <strong>Note</strong>s, Variable Rate<br />

<strong>Note</strong>s, Structured <strong>Note</strong>s, etc.) and particular risks relating to <strong>Note</strong>s<br />

denominated in certain currencies, such as RMB.<br />

These risk factors are more detailed in "Risk Factors" below.<br />

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