Disclaimer

The above minimum residual value is calculated by using the formula as set out below and it is provided for informational purposes only. The actual residual value may not be the same as the above calculated value, the announcement by respective issuer through the Hong Kong Exchanges and Clearing Limited should be final. It should not be relied upon in any way by the recipient hereof or any third party. Societe Generale is not responsible for any loss or damage arising out of any person's use of or reliance upon the information provided herein. Societe Generale is the liquidity provider for Structured Products, and may be the only market participant.

Bull Residual Value = (Underlying Minimum Trade Price - Strike) / Entitlement Ratio X Index Currency Amount
Bear Residual Value = (Strike - Underlying Maximum Trade Price) / Entitlement Ratio X Index Currency Amount

Underlying Minimum Trade Price (Bull) : the lowest spot price or level of the underlying asset in the MCE valuation period. MCE valuation period is a period commencing from the time upon which a mandatory call event occurs in the trading session of the Exchange up to and including the end of the following trading session.
Underlying Maximum Trade Price (Bear) : the highest spot price or level of the underlying asset in the MCE valuation period. MCE valuation period is a period commencing from the time upon which a mandatory call event occurs in the trading session of the Exchange up to and including the end of the following trading session.

For first day listing US Index CBBC, if the Index Closing Level on the Index Business Day immediately preceding the Observation Commencement Date ≤ the Call Level (for Bull CBBCs), or that of the Index Closing Level ≥ the Call Level (for Bear CBBCs), the Mandatory Call Event is deemed to have occurred as at 9:00a.m. Hong Kong time on the Observation Commencement Date.