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Basis of access

Access to electronic versions of these materials is being made available on this webpage by the European Stability Mechanism in good faith and for information purposes only. Any person seeking access to this webpage represents and warrants to the European Stability Mechanism that they are doing so for information purposes only. Making documents available in electronic format does not constitute an offer to sell or the solicitation of an offer to buy securities of the European Stability Mechanism.  Further, it does not constitute a recommendation by the European Stability Mechanism or any other party to sell or buy securities of the European Stability Mechanism.

 

Overseas Persons

Viewing the materials you seek to access may not be lawful in certain jurisdictions. In other jurisdictions, only certain categories of person may be allowed to view such materials. Any person resident who wishes to view these materials must first satisfy themselves that they are not subject to any local requirements that prohibit or restrict them from doing so.

The materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for the securities mentioned in such materials in the United States of America (including its territories, the "United States"), Canada, Japan, Australia or any jurisdiction or jurisdictions in which such offers or sales are unlawful prior to registration or qualification under the securities laws of any such jurisdiction. These materials are not directed at or accessible by persons located in the United States, Canada, Japan, Australia or any jurisdiction or jurisdictions where the offer for sale of securities is not permitted.

In particular, the Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") or under any applicable securities laws of any state, province, territory, county or jurisdiction of the United States, and may not be offered, sold, resold, taken up, exercised, renounced, transferred, transferred, delivered or distributed, directly or indirectly, in or into the United States unless an exemption under relevant securities law is applicable. There will be no public offering of such securities in the United States.

THE MATERIALS APPEARING ON OR LINKED FROM THE FOLLOWING WEBPAGES ARE NOT DIRECTED INTO AND MAY NOT BE VIEWED BY OR DISTRIBUTED WITHIN THE UNITED STATES TO PERSONS UNLESS SUCH PERSONS ARE EITHER (A) NOT A U.S. PERSON AS DEFINED IN AND IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT, OR (B) A PURCHASER WHO IS A QUALIFIED INSTITUTIONAL BUYER ("QIB") AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT ("RULE 144A") AND, TO THE EXTENT THAT SUCH PERSONS ARE ACTING AS EITHER A FIDUCIARY OR AGENT FOR ONE OR MORE INVESTOR ACCOUNTS, (i) EACH INVESTOR ACCOUNT MUST BE A QIB, (ii) SUCH PERSONS MUST HAVE INVESTMENT DISCRETION WITH RESPECT TO EACH INVESTOR ACCOUNT, AND (iii) SUCH PERSONS MUST HAVE FULL POWER AND AUTHORITY TO MAKE THE REPRESENTATIONS, WARRANTIES, AGREEMENTS AND ACKNOWLEDGEMENTS HEREIN ON BEHALF OF EACH SUCH ACCOUNT.

If you are not permitted to view materials on this webpage or are in any doubt as to whether you are permitted to view these materials, please exit this webpage.
 

Confirmation of understanding and acceptance of disclaimer

I confirm that I have read, understood and agree to comply with the restrictions set out above. I am satisfied that I am not subject to any local requirements that prohibit or restrict me from accessing the materials and in particular  I certify that I am either

  • not located in the United States and not a U.S. person, or
  • a Qualified Institutional Buyer as defined in Rule 144A under the Securities Act.

I understand that accepting the restrictions set out in the above disclaimer may affect my rights and I agree to be bound by the terms of such disclaimer. I confirm that I am permitted to proceed to the electronic versions of these materials which are being made available by the European Stability Mechanism in good faith and for information purposes only.