Investors should note that CPI Product is different from usual time deposit and involves investment risk. Investors can only obtain the return expressly provided in the relevant Termsheet and Terms and Conditions and thus should not be treated as an usual time deposit or a substitute so that the CPI Product may not be protected by the Saving Administration Regulation of People’s Republic of China. Investors should fully understand the investment risks and invest with caution. Investors should consider the following risks and read the other information contained in the relevant Terms and Conditions before making any investment decision:

As CPI Product has its pre-determined investment period, investors should consider their need to maintain sufficient liquid assets during the relevant investment period (especially for products with relatively long investment periods) and satisfy themselves that the CPI Product is suitable for them in view of their own circumstances and financial position before making any investment decision.

Investors should avoid excessive investment in any particular type of investment(s) or geographical or industry focus, so as to avoid the investment portfolio being over-exposed to any particular investment risk.

In order to provide capital protection, the investment strategy adopted for CPI Product may lead to a dilution of performance when compared to non-capital protected products investing in similar markets. Investors should be prepared to take the risks of earning a lower return on the capital invested and losing the interest that might otherwise be earned on money invested by way of deposits.

Investors should understand that the investment amount of the CPI Product is capital-protected only when it is held to maturity (please refer to “Early Termination Risk” below) and that no periodic income will be payable to investors prior to the maturity.

There is no guarantee of any Potential Return. Return is payable only if the investment is held to maturity. Returns of CPI Product depend on the market conditions at the time of the relevant determination. Returns on foreign exchange-linked products are dependent on the prices of inter-banks’ transactions on the linked exchange rate in the foreign exchange markets. Investors should be fully aware of the risks relating to fluctuations in the linked exchange rates. Factors affecting the performance of foreign exchange markets are numerous, including but are not limited to changes in global and local investment sentiments, interest rate policies, fund flows, political environment, economic environment, business and social conditions in the local marketplace. There is an inherent risk that the total returns payable to investors at maturity will be less than that would have been payable on a time deposit for the same tenor or that no Potential Return will be payable at maturity of the CPI Product.

If the Base Currency used for investment is not the local currency customarily used by investors and thus conversion into local currency is required, investors should note that they may suffer a loss due to exchange rate fluctuations.

Investors cannot early terminate the CPI Product and the capital of the investors will be invested in the CPI Product for the entire investment period. The Bank may at its absolute discretion refuse to give consent to any early termination request. Furthermore, the Bank may early terminate the CPI Product in its sole and absolute discretion, in which case the investors' interest may be adversely affected. If the Bank in its sole discretion decides to allow investors to early terminate the CPI Product with written consent, the Bank shall be entitled to deduct from the Investment Amount of the relevant CPI Product and/or any other amount, which may have accrued to investors any expenses, costs or damages to the Bank. Damages may include any costs, expenses, liability or losses to the Bank as a result of the early termination by the investors. Therefore, there is no guarantee that investors will be able to receive the Investment Amount or the Guaranteed Investment Amount at early termination and the amount payable to the investors at early termination may be less than the Investment Amount initially invested.

The Terms and Conditions and /or the Final Exchange Rate Determination Date and/or the Maturity Date are subject to adjustment or amendment by the Bank. Such adjustment/amendment may adversely affect the returns of the CPI Product. Investors must read the Terms and Conditions (especially Clause 6) to ensure they understand and accept the Terms and Conditions.

The Bank reserves the absolute right to approve any application and to decline any application received (whether in whole or any part thereof) before the CPI Start Date. In the event of non-acceptance, a notification will be sent by the Bank and any subscription funds received will be returned to the relevant investors after the CPI Start Date or other practicable circumstances as soon as possible.
Note: All CPI Product cannot be cancelled after subscription.

	Product Features
	Illustrative Examples