These documents are prepared by experts of the group Societe Generale S.A. and more particularly of Societe Generale Private Banking division (SGBP), and relate to certain financial and economic data.
They are intended exclusively to the clients of Societe Generale Private Banking. They are not intented to be distributed to a person or in a jurisdiction where such distribution would be restricted or illegal. They are in no way intended to be distributed in or into the United States of America not to any U.S person.
These documents are non-independent researches and are marketing communications. They have not been prepared in accordance with legal requirements designed to promote the independence of investment research and the investment service provider is not subject to any prohibition on dealing ahead of the dissemination of investment research.
Their content does not constitute and under no circumstances should it be considered in whole or in part as an offer or a personal recommendation or advice from Societe Generale group. In order to understand the financial and economic information included in these publications that may not be suitable for all investors, you will need to have knowledge and experience of financial markets. For any additional information, please contact your private banker in your Societe Generale private Banking entity.