bestuursrecht hc bronnen van bestuursrecht: wet en regelgeving jurisprudentie rechtspraak van bestuursrechter rechtbanken, afdeling bestuursrechtspraak rvs. additional notes will be considered part of the same tranche as these notes. 7N”=94Q_XAW)=”_ETXM)4E<_9/-_H. In recent months, AWB has initiated several actions which have begun Two tranches of the facility mature in while tranche 3 matures Further details are contained in note 7 Transition to A-IFRS of AWB's Appendix 4E.

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An efficient frontier for a portfolio of assets defines the optimum return of the portfolio for a given amount of risk. The numbers appearing in the following table and examples have been rounded for ease of analysis. The recent downgrade has increased and may continue to increase volatility in the global equity and credit markets, which may adversely affect the levels of the Non-Cash Constituents.

This strategy is based on the assumption that the most efficient allocation of assets is one that maximizes returns per unit of risk.

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The following results are based solely on the hypothetical examples cited and assume that a commodity hedging disruption event has not occurred during the term of the notes. These events may also increase short-term borrowing costs, including the 3-month LIBOR rate underlying the Cash Constituent, which will adversely affect the level of the Index.

These variables may create additional investment risks that cause the value of the notes to be more volatile than the values of traditional notes. Investments in the notes, which are linked in part to the economic stability and development of such countries, involve risks associated with investments in, or the securities markets in, those countries. This is different from, and may be less than, an Interest Rate determined based on the percentage difference of the Index closing levels between two Interest Determination Dates.


Title of Each Class of Securities Offered. Future downgrades by credit ratings agencies may also increase this volatility. We obtained the Index closing levels below from Bloomberg Financial Markets.

The commodity hedging disruption event may occur prior granche the final Interest Determination Date. Amount of Registration Fee. Maximum Aggregate Offering Price. The weight of the Cash Constituent at any given time represents the portion of the synthetic portfolio that is uninvested at that time and the Index will reflect no return for that portion. Holder or that the Non-U.

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Prospectus supplement dated November 14, The Index tracks the excess return of a portfolio of twelve ETFs and the Cash Constituent using an investment strategy that is based on the modern portfolio theory of asset allocation, which suggests how a rational investor should allocate his capital across the available universe of assets to maximize return for a given risk appetite. An investment in the notes involves significant risks.

The hypothetical payouts on the notes shown above do not reflect fees or expenses that would associated with any sale in the secondary market. Hypothetical Examples of Amounts Payable at Maturity.

Holders — Additional Tax Consideration. You should consider carefully whether the notes are suitable to your investment goals. The notes priced on March 27, and are expected to settle on or about March 30, In addition, our business activities, including hedging and trading activities, could cause our economic interests to be adverse to yours and could adversely affect any payment on the notes and the value of the notes. If the Index has declined from the trance date to the applicable Interest Determination Date, resulting in a negative Cumulative Index Return, or if the Cumulative Index Return on the applicable Interest Determination Date multiplied by the applicable Index Factor is less than 0.

Upon any acceleration of the notes, any interest will be calculated on the basis of day year of twelve day months and the actual number of days elapsed from and including adb previous Interest Payment Date for which interest was paid; and. The impact of any of these risks may enhance or offset some or all of any change resulting from another factor or factors. Even if there is a secondary market, it may not provide enough liquidity to allow you to trade or sell the notes easily.


If you have reached Age Pension age you may be eligible for the Age Pension and other benefits. This fee will be deducted daily. The price of gold is primarily affected by the global demand for and supply of gold.

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The Index may not be successful, outperform any alternative strategy that might be employed in respect of the basket constituents or achieve its target volatility — The Index follows a notional rules-based proprietary strategy that operates on the basis of pre-determined rules.

Get an idea of the income you’ll need to match your lifestyle expectations. Investors should be willing to forgo dividend payments and any return on this investment beyond the Interest Payments, while seeking payment of your principal in full at maturity. The Index was established on October 29, The Index merely references certain assets, the performance of which will be used as a reference point for calculating the level of the Index.

If the index calculation xwb determines in its discretion that no suitable substitute ETF or index is available for an affected Basket Constituent other than the Cash Constituentthen the index calculation agent will replace such Basket Constituent with tranceh Cash Constituent as its substitute.