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

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RISK FACTORS<br />

A. RISK FACTORS RELATING TO THE NOTES<br />

The following paragraphs describe some risk factors that are material to <strong>the</strong> <strong>Note</strong>s to be<br />

offered and/or admitted to trading in order to assess <strong>the</strong> market risk associated with <strong>the</strong>se<br />

<strong>Note</strong>s. They do not describe all <strong>the</strong> risks of an investment in <strong>the</strong> <strong>Note</strong>s. Prospective investors<br />

should consult <strong>the</strong>ir own financial and legal advisers about risks associated with investment<br />

in a particular Series of <strong>Note</strong>s and <strong>the</strong> suitability of investing in <strong>the</strong> <strong>Note</strong>s in light of <strong>the</strong>ir<br />

particular circumstances. These risk factors may be completed in <strong>the</strong> Final <strong>Term</strong>s of <strong>the</strong><br />

relevant <strong>Note</strong>s for a particular issue of <strong>Note</strong>s.<br />

<strong>Term</strong>s defined herein shall have <strong>the</strong> same meaning as in <strong>the</strong> <strong>Term</strong>s and Conditions of <strong>the</strong><br />

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

1. General Risks Relating to <strong>the</strong> <strong>Note</strong>s<br />

Independent review and advice<br />

Each prospective investor of <strong>Note</strong>s must determine, based on its own independent review<br />

and such professional advice as it deems appropriate under <strong>the</strong> circumstances, that its<br />

acquisition of <strong>the</strong> <strong>Note</strong>s is fully consistent with its financial needs, objectives and condition,<br />

complies and is fully consistent with all investment policies, guidelines and restrictions<br />

applicable to it and is a fit, proper and suitable investment for it, notwithstanding <strong>the</strong> clear<br />

and substantial risks inherent in investing in or holding <strong>the</strong> <strong>Note</strong>s.<br />

A prospective investor may not rely on <strong>the</strong> Issuer or <strong>the</strong> Dealers, <strong>the</strong> Arranger or any of <strong>the</strong>ir<br />

respective affiliates in connection with its determination as to <strong>the</strong> legality of its acquisition of<br />

<strong>the</strong> <strong>Note</strong>s or as to <strong>the</strong> o<strong>the</strong>r matters referred to above.<br />

Provision of information<br />

None of <strong>the</strong> Issuer, <strong>the</strong> Dealers, <strong>the</strong> Arranger or any of <strong>the</strong>ir respective affiliates makes any<br />

representation as to an index. Any of such persons may have acquired, or during <strong>the</strong> term of<br />

<strong>the</strong> <strong>Note</strong>s may acquire, non-public information with respect to an index that is or may be<br />

material in <strong>the</strong> context of index-linked <strong>Note</strong>s. The issue of index-linked <strong>Note</strong>s will not create<br />

any obligation on <strong>the</strong> part of any such persons to disclose to <strong>the</strong> <strong>Note</strong>holders or any o<strong>the</strong>r<br />

party such information (whe<strong>the</strong>r or not confidential).<br />

Potential conflicts of interest<br />

Each of <strong>the</strong> Issuer, <strong>the</strong> Dealers, <strong>the</strong> Arranger or <strong>the</strong>ir respective affiliates may deal with and<br />

engage generally in any kind of commercial or investment banking or o<strong>the</strong>r business with<br />

any issuer of <strong>the</strong> securities taken up in an index, <strong>the</strong>ir respective affiliates or any guarantor<br />

or any o<strong>the</strong>r person or entities having obligations relating to any issuer of <strong>the</strong> securities taken<br />

up in an index or <strong>the</strong>ir respective affiliates or any guarantor in <strong>the</strong> same manner as if any<br />

index-linked <strong>Note</strong>s issued under <strong>the</strong> <strong>Programme</strong> did not exist, regardless of whe<strong>the</strong>r any<br />

such action might have an adverse effect on an issuer of <strong>the</strong> securities taken up in <strong>the</strong> index,<br />

any of <strong>the</strong>ir respective affiliates or any guarantor.<br />

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