This website is published by Société Générale:

Société Anonyme with a capital stock of [EUR 1 006 509 557,50 as of January 8, 2015]
Paris Trade Register No. 552 120 222
APE No.: 651C
Registered Office: 29 Boulevard Haussmann 75009 Paris
VAT No : FR 27 552 120 222

Legal Representative: Mr Frédéric OUDÉA, Chief Executive Officer
Publication Manager: Mrs. Caroline GUILLAUMIN
Editorial Manager: Mr Denis MARQUET
Contact : UKDFM@sgcib.com or telephone number 020 7676 7906.


This website is hosted by Societe Generale on its own servers.


This website is governed by, and shall be construed in accordance with, English law.You hereby agree (a) that the courts of England are to have jurisdiction to settle any disputes in connection with these Terms and Conditions and submit to the non-exclusive jurisdiction of the English courts in connection with these Terms and Conditions, (b) to waive any objection that such proceedings have been brought in an inconvenient forum and (c) not to claim, with respect to such proceedings, that such court does not have jurisdiction over such party.



Professional regulations

This document is issued in the UK by the London Branch of Société Générale. Société Générale is a French credit institution (bank) authorized by the Autorité de Contrôle Prudentiel (the French Prudential Control Authority). Société Générale is subject to limited regulation by the Financial Services Authority in the UK. Details of the extent of our regulation by the Financial Services Authority are available from us on request.



Contents of this website

Société Générale, any other entity member of the Group Société Générale and any third party contributor (the "Contributors") shall make their best efforts to ensure that the information displayed on this website is accurate and up-to-date; Société Générale and the Contributors reserve their right to amend the content of this website at any time, without prior notice. However, they are not able to guarantee that the information herein is complete or that it will not be modified by a third party (for example in the event that this website was infected by, particularly but not limited to, any kind of malware, in spite of all the precautions taken by Société Générale). SOCIÉTÉ GÉNÉRALE RESERVES THE RIGHT TO AMEND THE INFORMATION DISPLAYED ON THIS WEBSITE AT ANY TIME AND WITHOUT PRIOR NOTICE. SOCIÉTÉ GÉNÉRALE AND THE CONTRIBUTORS HEREBY DISCLAIM ANY AND ALL DIRECT OR INDIRECT LIABILITY RELATED TO OR CAUSED BY ANY DELAY, OMISSION IN THE CONTENTS OF THIS WEBSITE, AS WELL AS FROM THE USE, THE INTERRUPTION OR NON-AVAILABILITY OF THIS WEBSITE. THEREFORE, SOCIÉTÉ GÉNÉRALE AND THE CONTRIBUTORS SHALL NOT BE HELD LIABLE FOR ANY INDIRECT AND/OR CONSEQUENTIAL LOSS OR DAMAGE, INCLUDING, BUT NOT LIMITED TO: (I) ANY DAMAGE OR LOSS ARISING FROM ANY TRANSACTION CARRIED OUT ON THE BASIS OF THE INFORMATION HEREIN; (II) ANY LOSS OF PROFIT, LOSS OF BUSINESS, OR ANY OTHER LOSS ARISING FROM AN INTERRUPTION TO THE THIS WEBSITE; OR, (III) THE INCREASE OF THE FEES OR CHARGES FOR ACCESSING AND PROCESSING THE INFORMATION. FURTHER, SOCIÉTÉ GÉNÉRALE AND THE CONTRIBUTORS SHALL NOT BE HELD LIABLE NEITHER FOR THE RESULTS OF ANY FACTOR BEYOND THEIR CONTROL NOR FOR ANY EVENTUAL LOSS OR DAMAGE TO YOUR TECHNICAL ENVIRONMENT, INCLUDING, BUT NOT LIMITED TO, HARDWARE, SOFTWARE, OR ANY OTHER EQUIPMENT USED TO ACCESS THIS WEBSITE OR USE THE SERVICES AND/OR THE INFORMATION HEREIN. FINALLY, SOCIÉTÉ GÉNÉRALE AND THE CONTRIBUTORS DO NOT GUARANTEE, NOR SHALL THEY BE HELD LIABLE, UNDER ANY CIRCUMSTANCE, FOR THE SUITABILITY, FITNESS FOR ANY PARTICULAR PURPOSE, SEQUENCE, ACCURACY, ABSENCE OF ERRORS, VERACITY, TOPICALITY, LOYAL AND COMMERCIAL NATURE, QUALITY, SOUNDNESS, NON-INFRINGEMENT OR AVAILABILITY OF THE INFORMATION CONTAINED ON THIS WEBSITE.


YOU UNDERTAKE TO ACCESS AND USE THE INFORMATION CONTAINED ON THIS WEBSITE AT YOUR OWN RISK.


Société Générale may, in its sole discretion, with or without cause or prior notice to you, temporarily or permanently cease to operate this website or suspend, restrict, or terminate your access to or use of this website.



Information about Financial Instruments

The terms and conditions relating to financial instruments are indicative and for guidance purposes only. Information about financial instruments on this website does not constitute on the part of Société Générale an offer to purchase, sell or subscribe financial products or services (including banking and insurance products).

SOCIÉTÉ GÉNÉRALE AND THE CONTRIBUTORS HEREBY DISCLAIM ANY AND ALL LIABILITY RELATED TO THE ACCURACY, COMPLETENESS OR ADEQUACY OF ANY INFORMATION DRAWN FROM EXTERNAL SOURCES, ALTHOUGH THIS INFORMATION COMES FROM SOURCES DEEMED RELIABLE.

Although information contained on this website is from sources believed to be reliable, Société Générale makes no representation or warranty regarding the accuracy of any information. Any reproduction, disclosure or dissemination of these materials is prohibited.

The products described within this website are not suitable for everyone. Investors' capital may be at risk. Investors should not deal in this a product unless they understand its nature and the extent of their exposure to risk. The value of the products can go down as well as up and can be subject to volatility due to factors such as price changes in the underlying instrument and interest rates.

Prior to any investment in any financial product, an investor should make his own appraisal of the risks from a legal, tax and accounting perspective, without relying exclusively on the information provided by Société Générale, by consulting, if it necessary, independent professional advisors in these matters. Subject to compliance with legal and regulatory requirements, Société Générale may not be held responsible for the financial or other consequences that may arise from the investment in any financial product.

Recipients of this website who intend to subscribe for Notes, Certificates, Preference Shares, Securities or other instruments are reminded that any such application may only be made on the basis of the information contained in the Final Terms of the relevant product and any amendments or supplements thereto (including the documents incorporated by reference therein), which may be different from the information contained in this website.

This document website does not constitute an offer for sale of securities in the United States and the securities will not be registered under the U.S. Securities Act of 1933, as amended (the « Securities Act »). The securities can be neither offered nor transferred in the United States without being registered or being exempted from registration under the Securities Act. The securities are offered only outside the United States in compliance with Regulation S promulgated under the Securities Act (the « Regulation S ») to a selected group of investors only in "Offshore Transactions" with "Non-U.S. Persons" (each as defined in Regulation S). The securities may be reoffered and sold only to "Non-U.S. Persons" in "Offshore Transactions" pursuant to the resale provisions of Regulation S. No person is obligated or intends to register the securities under the Securities Act or any state securities laws in the United States.



Specific Risks

Liquidity Risk:

For certain products, except when Société Générale undertakes to assure a secondary market, there is no liquid market on which these products can be easily traded, and this may have a material adverse effect on the price at which these products might be sold. Even where Société Générale has proposed to assure a secondary market there will be certain circumstances which prevent them from doing so such as where the market of the underlying investment is suspended or not available, there is a failure in Société Générale?s systems or there is an abnormal market.

Counterparty Risk:

Any failure of the issuer to perform obligations when due may result in the loss of all or part of an investment. The issuer of each product mentioned on this website is detailed in the relevant product fact sheet.

Risk of volatility:

Until the maturity date of the product, the marked-to-market value of such product may be subject to significant volatility due to, inter alia, the evolution of the price of the underlying instrument(s) and of the interest rates. In certain circumstances, the marked-to-market value of the product may be substantially lower than the amount initially invested

Tax:

The tax treatment of investments will depend on an individual?s circumstances. Any potential investor should ascertain for themselves the taxation consequences of acquiring, holding or disposing of products mentioned on this website by obtaining advice from his own independent professional advisor.



Further information

Where simulations of future performance are presented, the data for these performances are only predictions and are not a reliable indicator of actual future performance of any product. Where simulated past performance or past performance are presented, the relevant data pertaining to past periods are not a reliable indicator of future results. In addition, where past performance or simulated past performance is based on data expressed in a currency other than that of the State of the investor, the potential gains can increase or decrease depending on changes in exchange rates. Finally, when past performance or simulated performance (whether past or future) are presented, any gains can also be reduced by the effect of commissions, fees or other charges incurred by the investor.

Should you wish to obtain further information on or make a purchase of any of the products or services displayed herein, please contact Société Générale to obtain information on availability, contractual terms, conditions and prices.

Any investment decision with respect to the products described on this website must only be made on the basis of the information contained in the Final Terms of the relevant product. Société Générale takes no responsibility for further information or representations given or made by any Distributor, Selling Agent, dealer, salesman or other person in respect of any products on this website should be disregarded, and accordingly must not be relied upon.

Nothing on this website will, under any circumstances, constitute a representation that the information given in other documents relating to products is correct. The content of this website is for information purposes only and cannot take into account your individual financial circumstances or investment objectives. Accordingly nothing on this website is intended to constitute nor should be construed as a personal recommendation or investment advice on the merits of the purchase of or subscription for any products detailed herein, or the exercise of any rights attached thereto, or otherwise. For products benefiting from a guarantee of Société Générale or of any other entity of the Société Générale Group (hereinafter referred to as the "Guarantor"), the due and punctual payment by the principal debtor of the obligation of any sums due in respect of these products is guaranteed by the Guarantor only at the times and according to the terms set forth in the relevant documentation governing the guarantee. In this case, the investor bears the credit risk of the Guarantor. In addition, any such guarantee is not a guarantee of any secondary market transaction. Unless otherwise set forth pursuant to the terms of the relevant transaction, Société Générale does not guarantee a secondary market in (or that it will repurchase) any financial instrument, and such activities, if commenced, may be discontinued at any time.

The attention of investors is drawn to the fact that, by the maturity date, the price of certain products may be subject to volatility due to the evolution of market parameters and more precisely the price of the underlying instrument and interest rates. Certain products embed leverage i.e. either (i) the issuer of these products may borrow funds to invest more than 100% of the amount initially invested by the investor in the underlying assets or (ii) the issuer of an underlying instrument may borrow funds to invest more than 100% of its assets in other assets, which involves in both cases further risks. Therefore, the value of these leveraged products will amplify the upwards and downwards movements (i) in the value of the underlying assets or (ii) in the value of these other assets, and these products may even have no value.



Valuations

The valuation statements available on this website are provided for information purpose only. They may not be disclosed to, reproduced or used or relied upon by any other person or entity or used for any other purpose without the prior written consent of Société Générale ("SG", which, as used herein, shall refer to any affiliate of SG engaging in a relevant transaction).

Unless you promptly inform us to the contrary, acceptance of any such valuation statement constitutes your acknowledgment and acceptance of the conditions on which the valuations contained therein are provided and your agreement to be bound by the terms hereof.

Valuations do not constitute, and under no circumstances should be considered in whole or in part as, an offer by SG to buy or sell, a solicitation or a price (firm or otherwise) for, or advice or a recommendation of any kind to acquire or dispose of, any investment or advice or a recommendation to engage in, liquidate, unwind or terminate any transaction prior to its stated maturity.

Valuations are estimated values as of the valuation date only. The valuation date is indicated in the valuation statement. SG accepts no obligation to provide or to update valuations in the future.

Valuations are calculated using methodologies that are based on one or more of the following (including, as the case may be, a combination thereof): (i) quotations obtained from brokers; (ii) quotations obtained from our own traders; and (iii) SG?s own proprietary pricing models. Such methodologies may change without notice. Valuations based on different models or assumptions may yield different results.

Valuations calculated using SG?s own proprietary pricing models are based on: (i) estimates of relevant present and/or future market conditions; (ii) the size and liquidity of the positions concerned; and/or (iii) any related actual or potential hedging transactions.

Market parameters used in SG?s own proprietary pricing models are monitored by services independent from the business lines. Valuation methods that use SG?s own proprietary pricing models are validated by such independent services.

Negative valuations for derivative transactions outstanding between SG and an investor mean that the termination of the transaction on the valuation date would give rise to a payment from the investor to SG.

Valuations may be expressed as a percentage of the current notional amount as of the valuation date or in currency units as appropriate.

Investors should read the valuation statement carefully and in particular note whether the valuations are stated to be bid/offer prices, bid (unwind/purchase by SG) or offer (sale by SG) prices or estimates of mid:

(A) for products products where valuations are provided on a bid/offer basis, valuations are SG?s determination, for the relevant derivative transaction, deposit, loan or securities of SG?s bid and offer prices (that may include any element deemed relevant by SG) that would have been tradable under normal market conditions, for the size specified in the valuation statement or for a standard size, as at the date and time of the valuation;

(B) for products where valuations are provided on a bid or offer basis, valuations are SG?s determination, for the relevant transaction, deposit, loan or securities, of SG?s bid or offer price (that may include any element deemed relevant by SG) at which SG would have bought, unwound or sold the relevant product under normal market conditions, for the size specified in the valuation statement or for a standard size, as at the date and time of the valuation;

(C) for products where the valuation is provided on a mid basis, this represents: - either the midpoint between SG?s estimated bid and offer prices that would have been tradable under normal market conditions, for the size specified in the valuation statement or for a standard size, as at the date and time of the valuation; - or, when SG is not able or prepared to early unwind, or provide for a secondary market for, such products, valuations are provided on a mid basis representing a valuation estimated by SG on the basis of its own proprietary pricing models and estimation of market parameters.

Bid and/or offer valuations shall not be considered as binding prices on SG. In the case of a given product the offer or bid prices at which SG may be willing to trade with you could be different from valuations presented in the valuation statement, taking into account market conditions, the size of the transaction and the liquidity of related markets, costs of execution and any other elements deemed by SG as relevant to define transaction prices.

In any case, valuations on a mid basis are indicative and do not represent prices at which SG would have been willing to trade or would be willing to trade.

All valuations assume that the relevant counterparty provided SG with sufficient notice, and that SG was accepting transaction requests at the relevant time.

The valuations presented on this website result from mark-to-market estimates based on information and/or models that SG believes to be reliable, although such information has not been independently verified and models used in any analysis may be of a proprietary nature making the results difficult for any third party to reproduce.

Please contact your SG representative should you need more detailed information about the basis of calculation for a particular transaction provided to you or should you wish to change the frequency with which you are provided valuations.

Valuations may vary significantly depending on (i) the models or assumptions used to calculate the value of each transaction; (ii) the date and time of calculation; and (iii) the size of positions.

Valuations may be impacted by, and subject to modification resulting from, similar transactions, or transactions on similar underlying securities or transactions on other instruments (including but not limited to derivative transactions).

Valuations provided on this website may differ from values that SG uses (i) to assess its own positions; or (ii) for purposes of collateral calls.

Although SG believes that the information used in connection with valuations comes from reliable sources, SG does not accept any obligation to independently verify such sources and expressly disclaims any liability in this respect.

While all reasonable care is taken in the calculation of valuations, SG makes no representations or warranties, and expressly disclaims any responsibility or liability, including of a fiduciary nature, for: (i) the accuracy or completeness of any models, including the reasonableness or appropriateness of any assumptions underlying such models; (ii) the market data inputs used in any valuation models; (iii) any errors or omissions in computing or disseminating any valuation; (iv) any use made of any valuation including in connection with its own financial or accounting determinations or in satisfaction of its reporting obligations; and (v) any financial or other consequences arising from any valuation.

Investors should consult their auditors and other advisors as they deem appropriate as to whether SG valuations may be useful to them in connection with the preparation of their financial statements or for any other purpose.



Product subscription and Investment services provision

In accordance with its legal and regulatory requirements (particularly under the Market in Financial Instruments Directive (MiFID)), and depending on the type of financial instruments involved and your classification as agreed with Société Générale, Société Générale may be required to verify that the financial instruments are appropriate to your investment or hedging objectives, financial capacity, knowledge and experience. Without prejudice to the legal and regulatory requirements of Société Générale, investors must before investing in the product or entering into any transaction relating thereto conduct their own analysis of the product and its risks, particularly in terms of legal, tax and accounting, without relying solely on information supplied to them ; investors should consult, as deemed necessary, their own advisers on the matter or any other professional. SUBJECT TO COMPLIANCE WITH LEGAL OR REGULATORY REQUIREMENTS, SOCIETE GENERALE WILL NOT BE HELD LIABLE FOR FINANCIAL CONSEQUENCES OR ANY NATURE WHATSOEVER ARISING FROM ANY TRANSACTION RELATING TO THE PRODUCT OR INVESTMENT IN THE PRODUCT.

The on-line request for subscription of a product or service offered by Société Générale requires of the acceptance of the latter and shall not be valid without it. Such subscription implies the subscriber?s acceptance to the applicable contractual conditions and fees, and its submission to English law.



Intellectual Property

This entire website is governed by international legislation on copyright, trademark and intellectual property in general, both as they are applicable to its form (editorial choices, layout, topics, means for accessing data, display, etc.), and to its content (text, images, etc.). The contents displayed on this website are of the exclusive property of Société Générale Group and the Contributors, respectively. You also undertake not to use this content for illegal purposes and not to allow anyone to do so. By way of exception, some of the content (text, images) is the property of their respective authors. Any reproduction, representation, diffusion or re-diffusion, in whole or in part, of the contents of this website on any medium or by any means whatsoever (including, but not limited to, caching, framing), as well as any sale, resale, retransmission or any other act tending to make such contents available to any third party in any manner whatsoever shall be prohibited.

Failure to comply with these restrictions shall constitute a forgery engaging the civil and criminal liability of the forger.



Hypertext links

Société Générale shall not be liable for the hypertext links towards other websites, and particularly for the contents of the linked websites. Any opinions or recommendations expressed on such other websites are solely those of the relevant provider and are not the opinions or recommendations of Société Générale. The existence of a link from the Site to any other such website does not constitute a recommendation or other approval by Société Générale of such website or any provider thereof and, in particular (but without prejudice to the foregoing), no approval is given by Société Générale to any such other website or its content.

Société Générale shall not be liable for the hypertext links towards this website; no one shall create any such a link without Société Générale?s prior and express authorization.



Privacy

- Collection Société Générale may as a result of your interaction with the website collect directly or indirectly nominative personal information about you, sometimes through the use of on-line or off-line forms. This information will be stored in and processed by Société Générale and/or its named providers or consultants information systems. The providing of some personal data may be mandatory in order to process your requests. If so, mandatory fields will be marked with an asterisk or any equivalent. - Use The data collected are to be used mainly for the continuation of the banking relationship with the customer. These data can also be used to keep you informed advise them of events, actions or publications that might arouse your interest. Personal data, which may enable indirect identification, may also be collected and processed in order to better manage your connection and browsing (see below for information on Cookies). - Communication with third-parties To the extent that any personal data is given, such personal data collected can, as expressly agreed upon at registration, be shared with legal entities of Société Générale Group, as well as to its partners, brokers and insurers as well to its subcontractors to the extent necessary for the fulfillment any contractual arrangement it, or they, have entered into or for direct marketing purposes. - Processing security Société Générale takes all physical, technical and organisational measures needed to ensure the security and confidentiality of personal data, particularly in view of protecting it against loss, accidental destruction, alteration, and non authorised access. - Application of European regulations on the transfer of personal data outside the European Union In particular owing to the international nature of Société Générale Group, and in order to optimise quality of service, the communication of information mentioned above may involved the transfer of personal data to countries from outside the European Economic Area, whose legislation on the protection of personal data is different from that within the European Union. Throughout the entire length of the banking relationship, Société Générale may entrust certain services with operational functions to service providers chosen for their expertise and reliability outside the European Union to provide targeted and limited IT services (tests, developments, IT maintenance). - Rights of access, modification and objection You are entitled to access your personal information and to have it amended, updated or deleted, where such information is incorrect, incomplete or outdated. You may also, on legitimate grounds, object to the processing of your personal information. Such objection may, however, prohibit Société Générale from providing the requested service. Anyone, without having to justify his/her decision, may refuse that any information pertaining to her/him is used, or communicated to, any third party for commercial purposes. You may exercise your right to access, rectify and object to the use of your personal information by contacting Société Générale at the following address: solentis-team@sgcib.com - Cookies For your security, this website uses "cookies". A cookie is a text file which is stored by your browser which is used to authenticate you during your browsing on the website. You can, however, stop your browser storing "persistent cookies" by configuring your browser as follows:



For Microsoft Internet Explorer 6 and 7:

1. Choose Tools / Internet Options in the menu bar. 2. Click on the Security tab and then on the 'advanced' button. 3. In the cookies menu, choose the option that suits you best. You can opt for automatic management of cookies (default) or place a check in the box by "Override automatic cookie handling" and then select "Refuse" in "First party cookies", and in "Third party cookies". Finally select "Always allow session cookies" and press "OK".



For Firefox 2 and more:

1. Choose Tools / Options in the menu bar. 2. Select the Privacy category. 3. Then click on Cookies, select "Keep Cookies:" and choose "Until I close Firefox" and press "OK".



For Safari:

1. Choose Preferences from the Safari menu and click Security 2. Click Always to accept and remember all cookies. Click "Only from sites you navigate to" to prevent storing cookies that come from websites other than those you open. Select this option to prevent advertisers on websites you visit from storing cookies on your computer. To see the cookies you have accepted, click Show Cookies. You can then remove cookies.



For Netscape 7.02:

1. Choose Edit / Preferences in the menu bar. 2. Select Confidentiality and Security. 3. Select Cookies and then click on "Accept cookies from the originating website only" and on "Accept for current session only". Required Plug-ins - Plug'in Quicktime version 6 and above - Plug'in Flash version 8 and above



Safety

This website is protected by one of the highest levels of technical security, and it is under permanent monitoring. The algorithms and mechanisms used to protect your communications with Société Générale, and the information that pertains to you, comply with the French and English regulations in effect.

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