Constellation Credit Linked Notes
Update on Constellation Callable Credit Linked Notes Series 3-4
Disclaimer
The below information is intended only for holders of Constellation Callable Credit Linked Notes Series 3-4 to which the information relates.
The below information should not be treated as legal or financial advice. No one reading the information is entitled to rely on any such information as legal and financial advice. Investors should seek independent professional advice with respect to their own positions.
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DBS Bank Ltd. (“DBS Bank”), as the Market Agent of the Constellation Callable Credit Linked Notes Series 3-4 (the “Notes”) notified DBS Bank (Hong Kong) Limited (as a distributor of the Notes) the following:
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DBS Bank, as the Market Agent of the Notes, intends to quote on 16 February 2009, 17 February 2009 and 18 February 2009 (“the Dates”) prices at which DBS Bank is willing to purchase the Notes. The prices will be quoted once per day on a best effort basis and will be determined by DBS Bank in its sole and absolute discretion.
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This is a one-off exercise. DBS Bank is under no obligation to provide these prices. DBS Bank may not eventually provide such prices and, if it does, may discontinue the provision of such prices at any time.
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Prices quoted by DBS Bank without final confirmation must not be treated as trade prices, and in fact, may be withdrawn at any time after they are quoted.
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The prices quoted by DBS Bank are less than the principal amount of the Notes. Before investors decide to sell the Notes at the prices quoted by DBS Bank, they should note that under the terms and conditions of the Notes, if no credit event or early redemption event is determined to have occurred on or before the maturity date of the Notes (being 20 February 2009), the Notes will be redeemed at their principal amount. The provision of the prices is not to be construed as DBS Bank’s opinion as to the likelihood of the occurrence of any credit event or early redemption event. The prices quoted by DBS Bank are NOT firm prices. DBS Bank may withdraw the price quoted and cease to take orders at any time.
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Important Notes by DBS Bank ( Hong Kong) Limited (“Our Bank”):
- If our Bank’s customer holding the Notes with our Bank (the “Customer”) intends to sell the Notes on a Date, the Customer must place the sale order of the Notes with our Bank by 3:30 p.m. on that Date. Nonetheless, our Bank gives no representation or warranty of whatsoever nature that DBS Bank will quote any price on any Date or purchase any Notes under any sale order of any Customer (even placed in time with our Bank).
- Our Bank’s dissemination of the above notifications from DBS Bank and/or prices quoted by DBS Bank shall not be construed as our Bank’s opinion as to the likelihood of the occurrence of any credit event or early redemption event.
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Our Bank is not any Customer’s advisor and not acting in any fiduciary capacity to any Customer. Customers shall make their own independent decision as to whether it is appropriate for them to sell any Notes on any Date. Customers should consult their own investment advisor if necessary.
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If there is any discrepancy between the English and the Chinese versions of the above messages and/or Important Notes, the English version shall prevail.
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Disclaimer: The above information is provided by DBS Bank (Hong Kong) Limited (the ‘Bank’) as distributor of the Notes to you as an after-sales service. In providing you with copies of materials issued by the Issuer/ the Arranger, the Bank takes no responsibility for any of their contents. The information is for your reference only and the Bank is not acting as your financial advisor. For details of the Notes, you should refer to the relevant offering documents, including but not limited to Issue Prospectus, Programme Prospectus, Addendum, Further Addendum, Programme Memorandum and Base Disclosure Document, whenever applicable. Please consult your independent professional investment advisor if necessary.
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