Important Disclosures & Disclaimer
(i) In Australia, financial services are provided by Bank of America N. A., ABN 51 064 874 531, AFSL No 412 901 (BANA), Merrill Lynch (Australia) Futures Limited ABN 34 003 639 674 AFSL No 235 143 (MLAF), Merrill Lynch Equities (Australia) Limited ABN 65 006 276 795 AFSL No 235 132 (MLEA), Merrill Lynch International ARBN 125 336 567 (MLI), Merrill Lynch Markets (Australia) Pty Limited ABN 88 075 587 816 AFSL No 432 424 (MLMA), Merrill Lynch Pierce Fenner & Smith Inc ASIC Organisation Number 104 537 466 (MLPF&S), Merrill Lynch (Asia Pacific) Limited ASIC Organisation Number 104 537 233 (MLAP), Merrill Lynch (Singapore) Pte Ltd ASIC Organisation Number 617 978 720 (MLS), BofA Securities, Inc. ASIC Organisation Number 625 353 308 (BofA Securities, Inc) to institutional clients only, classified as “wholesale” under the Corporations Act 2001 and are not offered to retail clients.
(ii) For the purposes of this document, Bank of America entities in Australia (BofA Australia) means Bank of America group companies registered, operating or carrying on a business in Australia from time to time. A reference to a BofA representative means any director, officer, employee, contractor or agent of BofA Australia or any one or more of its related bodies corporate.
(iii) Any material provided is presented by BofA Australia for the information of wholesale clients only. The material is prepared without taking account the objectives, financial situation or needs of any particular person. Before acting on the information, consider the appropriateness of the information, having regard to your financial objectives, financial situation and needs and, if necessary, seek appropriate professional advice. BofA Australia believes that the information in the material provided to be correct and any opinions, conclusions or recommendations to be reasonably held or made, based on the information available at the time of its compilation, but no warranty is made as to the accuracy, reliability or completeness of the material. To the extent permitted by law, BofA Australia and its affiliates do not accept liability to any person for any direct indirect or consequential loss or damage arising from the use of this material. Any valuations, projections and forecasts contained in any material provided are based on a number of assumptions and estimates and are subject to contingencies and uncertainties. The inclusion of any such valuations, projections and forecasts should not be regarded as a representation or warranty by or on behalf of BofA Australia, its related entities, their affiliates or any other person that such valuations, projections and forecasts or their underlying assumptions and estimates will be met. Past performance is not a reliable indicator of future performance. Any material provided is not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would subject BofA Australia or its related entities to any registration or licensing requirement within such jurisdiction where such requirements are not otherwise currently complied with by BofA Australia or its related entities. BofA representatives may hold interests in the financial products or issuers of financial products named in the materials provided, from time to time. The person(s) responsible for preparing any material receive a salary and a bonus that is dependent on a number of factors including their performance and the overall financial performance of BofA Australia and its related entities, a portion of which are or have been generated by corporate advisory and capital markets activities. BofA Australia, its related entities and/or its or their affiliates may undertake transactions for their own account in any financial products or related investments referred to in any material provided, including selling to or buying from clients on a principal basis. BofA Australia and its related entities and their affiliates may engage in transactions in a manner inconsistent with materials provided. In the case of some financial products, BofA Australia and/or its related entities are or may be a market maker or the only market maker, from time to time.
(iv) MLI is exempt from the requirement to hold an Australian Financial Services Licence pursuant to s911A(2)(h) of the Corporations Act 2001 and Class Order 03/1099. MLAP is exempt from the requirement to hold an AFSL pursuant to s911A(2)(h) of the Corporations Act 2001 and Class Order 03/1103. MLS is exempt from the requirement to hold an AFSL pursuant to s911A(2)(h) of the Corporations Act 2001 and Class Order 03/1102. BofA Securities, Inc is exempt from the requirement to hold an AFSL pursuant to s911A(2)(h) of the Corporations Act 2001 and Class Order 03/1100. MLPF&S does not have an Australian Financial Services (AFS) Licence in respect of the financial services it provides and relies on an Instrument of Relief (ASIC Instrument Number 10-0763) pursuant to section 911A(2)(1) of the Corporations Act 2001. MLI is regulated under the laws of United Kingdom, MLAP is regulated under the laws of Hong Kong, MLS is regulated under the laws of Singapore, BofA Securities, Inc and MLPF&S are both regulated under the laws of United States, which all differ from Australian laws.
(v) In accordance with the Australian Prudential Standard APS 222, we are required to notify you that, with the exception of BANA, none of the entities of BofA Australia is authorised as an Authorised Deposit-taking Institution (ADI) under the Banking Act 1959 of Australia or subject to prudent regulation by the Australian Prudential Regulation Authority (APRA).
(vi) Furthermore, unless expressly stated: 1. financial products issued by such BofA Australia entities, excluding BANA, do not represent liabilities of BANA and the investment performance of such financial products is not guaranteed by BANA; 2. financial transactions entered into by such BofA Australia entities, excluding BANA, do not represent liabilities of BANA and are not guaranteed by BANA; and 3. other obligations assumed by such BofA Australia entities, excluding BANA, do not represent liabilities of BANA and are not guaranteed by BANA.
(vii) BofA Australia may record the telephone conversations held between you through any of your representatives and any BofA Australia representative from time to time. The relevant telephone line being recorded may emit an audible beep periodically as an indication to the participants that the telephone conversation is being recorded. By entering into or engaging in any such telephone conversation with any BofA Australia representative, you and any of your representatives are taken to have consented to having that telephone conversation recorded.
(viii) By instructing BofA Australia to provide a financial service, you will be taken to confirm that you are a wholesale client (as defined in the Corporations Act 2001 (Cth)), and to notify BofA Australia immediately if you cease to be a wholesale client. In the event you cease to be a wholesale client, BofA Australia may cease to provide financial services to you.
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