Form of the Securities: Dematerialised Form
3COMMODITY  TURBO CERTIFICATES
Series: Silver Turbo Short Certificates
Issue Price: EUR 2.05 (Indicative)
Additional Market Disruption Events: None
Business Day: As specified in Product Condition 1
Cash Amount: As specified in Product Condition 1
Commodity: Spot Silver on a per troy ounce basis (31.1035g) quoted in USD
(Reuters Page XAG=)
Current Financing Level on the Launch
Date:USD 39.50
Current Spread on the Launch Date: 2%
Current Stop Loss Premium Rate on
the Launch Date:5% of Current Financing Level on the Launch Date
Emerging Market Disruption Events: As specified in Product Condition 1
Entitlement: 1
Exchange: London Bullion Market Association
Exercise Time: 10.00 a.m. Central European Time
Final Reference Price: As specified in Product Condition 1
Final Valuation Date: Not Applicable
Financing Level Currency: USD
Issuer Call Commencement Date: The first Business Day following the three month period from and
including the Launch Date
Issuer Call Notice Period: One year
Maximum Premium: 6% of Current Financing Level
Maximum Spread: 3.5%
Minimum Premium: 5% of Current Financing Level
Relevant Currency: As specified in Product Condition 1
Relevant Number of Trading Days: For the purposes of:
Issuer Call Date: 5, or in respect of an Emerging Market
Disruption Event only, 180
Valuation Date: 5, or in respect of an Emerging Market Disruption
Event only, 180
Reset Date: 15th day
Securities Exchange: NYSE Euronext in Amsterdam
Settlement Currency: EUR
Settlement Date: Up to the fifth Business Day following the Valuation Date, the last
day of the Stop Loss Termination Valuation Period or the Issuer
Call Date, as the case may be
Standard Currency: As specified in Product Condition 1
Stop Loss Event: Occurs if, subject to any adjustment in accordance with Product
Condition 4, the bid high price of the Commodity quoted on the
Reuters page specified as such in the definition of the Commodity
4is at any time on any Trading Day, from and including the Launch
Date, and other than at the Stop Loss Reset Time or a time at
which there is, in the determination of the Calculation Agent, a
Market Disruption Event, greater than or equal to the Stop Loss
Price. 
### Language ###
English

### Assessment ###
The text contains information about a commodity trading instrument, and a simple query could be about the specific commodity being traded.

### Query ###
What is the metal price being tracked in this financial product?
What is the metal price being tracked in this financial product?