Contractual version in force. For the following banks of the Intesa Sanpaolo Group. Intesa Sanpaolo S.p.A. Banco di Napoli S.p.A.

Transcription

1 Contractual version in force For the following banks of the Intesa Sanpaolo Group Intesa Sanpaolo S.p.A. Banco di Napoli S.p.A. Cassa di Risparmio del Veneto S.p.A. Banca CR Firenze S.p.A. Cassa di Risparmio in Bologna S.p.A. Cassa di Risparmio del Friuli Venezia Giulia S.p.A. Cassa dei Risparmi di Forlì e della Romagna S.p.A. Cassa di Risparmio di Pistoia e della Lucchesia S.p.A. Banca Prossima S.p.A.

2 ANALYSIS OF INVESTMENT OBJECTIVES - LEGAL PERSONS/RETAIL COMPANIES PORTFOLIO The Financial Profile analysis is performed by referring to a general index number (NSG). The NSG is an internal code used by the Bank to group together all the relationships with the same counterparty. NSG Account holder: Relationships Situation as at: Financial products classification other than OTC derivatives: [ ] Elective retail customer [ ] Per Se Retail customer [ ] Elective Professional customer [ ] Per Se Professional customer Classification in OTC derivatives products: [ ] Elective retail customer [ ] Per Se Retail customer [ ] Elective Professional customer [ ] Per Se Professional customer The customer intends to trade in OTC Derivatives also in the future: [ ] Yes [ ] No Relevance of the questionnaire Collecting data and information about the Company s characteristics and needs is an essential condition for the Bank to best provide the consultancy service for trading in OTC Derivatives. It is important that the information and data that you provide us are complete, true, and upto-date since the Bank uses them to formulate recommendations that meet the needs and objectives of the Company. Based on the information held, or provided by, the Company, the Bank formulates recommendations that meet the financial characteristics of the Company. In case it is not provided with complete, true and up-to-date information, the Bank cannot provide the consultancy service. The adequacy assessment prepared by the Bank requires knowledge of the individual authorised to operate in name and on behalf of the Company with regard to his/her financial knowledge and experience, as well as the financial position and investment objectives of the Company itself. In addition to the foregoing, the Bank classifies its products based on thedegree of complexity and risk thereof, in order to propose its risk management solutions in a manner that is consistent with the characteristics of the Company. Every customer has financial objectives that are based on their investment needs and preferences. A careful definition of the objectives allows the customer to evaluate which risk(s) it is capable to bear. Risk appetite It represents the willingness to bear pecuniary losses arising out of negative market fluctuations. The higher a customer s risk appetite, the more it must be willing to accept, (also relevant) fluctuations, in the transactions value. In this questionnaire, the words: Holder and Delegate shall have the meaning attributed thereto in the questionnaire titled Analysis of Knowledge and Experience". The word Customer identifies the Holder of each relationship or, for joint accounts, the Holders collectively considered. Page 2 of 5

3 ANSWERS TO THE QUESTIONNAIRE Financial situation The assessment of the Company s financial situation is done to ensure that the investment risks can be borne. In this regard, the Bank intends to acquire information, if still missing, related to the Company s financial situation. The ratings classes are grouped as follows: From I1 to I3 From I4 to I6 From M1 to M4 From R1 to R5 or worse What is the Company s balance sheet total (Assets)? What is the amount of Company revenues (sales, turnover,...)? Up to 10,000,000 Euro Exceeding 10,000,000 Euro - up to 40,000,000 Euro Exceeding 40,000,000 Euro - up to 70,000,000 Euro Exceeding 70,000,000 Euro What was last year s reported net income? What is the amount of the Company s third party indebtedness (banks, suppliers,...)? Page 3 of 5

4 Objectives The definition of objectives permits to set the maximum risk level that the Company can bear when trading in financial instruments. Such level is set based both on the objective ability of the Company to bear the risk (determined by the Bank through the analysis of the financial overview), and the Company s risk appetite (determined by the Bank through the following questions). What goals has the Company set with regard to trading in OTC derivative instruments? Pursue a goal of maximum risk mitigation through products characterised by their simplicity and through the use of technical forms, possibly combined, typically found in the financial markets. Pursue a goal of risk mitigation through products that are more complex in terms of their structure even though they are also meant to define the Customer s financial flows. Pursue a goal of risk mitigation through structured products that offer conditional protection until a predetermined event occurs. Pursue a goal of optimising the financial management of their own transactions even by assuming very high levels of risk through the use of management products that may not be intended for hedging. Bearing of a risk related to transactions in OTC Derivatives With regard to the goal indicated in the previous question, does the Company accept, also in the context of hedging strategies, the possibility to suffer negative financial flows, that may not be quantifiable or that are different from those originally expected, and are tied to a single OTC Derivative transaction? No Yes Page 4 of 5

5 IDENTIFYING THE FINANCIAL PROFILE Dear Customer, The level of Knowledge and Experience of each individual authorised to operate in the Company s name on relationships associated with the NSG being profiled, was determined based on the processing of the information provided in the separate Analysis of Knowledge and Experience questionnaire. In case, over the course of the evaluation of the relationship, more than one individual has been granted the power to act in the Company s name, and one or more of them has not provided his/her information by filling out the separate Analysis of Knowledge and Experience questionnaire, the level of Knowledge and Experience is assigned to each individual by the Bank based on the most prudent Knowledge and Experience level among those related to the NSG to which they separately refer to as holders. This will be the case until the aforementioned Analysis of Knowledge and Experience questionnaire is filled in. Any time an individual authorised to operate on the Company s behalf has not provided his/her information, in relation to the relationship being profiled, by completing the separate Analysis of Knowledge and Experience questionnaire, and this individual does not have an investment relationship with the Bank, the Bank will assign the minimum level of Knowledge and Experience to the individual. This will be the case until the aforementioned Analysis of Knowledge and Experience questionnaire is filled in. Taken into account the level of Knowledge and Experience of each individual authorised to operate on behalf of the Company, and based on the responses provided regarding the Investment Objectives and Financial Condition, the Bank assigns the Company the following Financial Profile which will be used to assess the adequacy of OTC Derivative transactions. Below is a summary of the information that represents the level of Knowledge and Experience of each individual authorised to operate in the Company s name on relationships associated with the NSG being profiled, information that will be used to assess the appropriateness of transactions in financial instruments other than OTC Derivatives. OMISSIS Below, we summarise the Risk Appetite information - released today - that will be used by the Bank to assess the adequacy of OTC Derivative transactions as from xx.xx.xxxx. OMISSIS The information that you have provided is valid from today s date. Variations in the above mentioned information that may result in changes to the Financial Profile must be promptly communicated to the Bank. The Customer declares that he/she has received a copy of this document. Place and date Company name Title Company name Title The operator: (Bank Name) Page 5 of 5