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The following is generally applicable to all electronic communications (including emails, faxes, Internet-based and other digital messages) you receive from Credit Suisse and its affiliates:

Electronic communications may be delayed, and information may not be current. Electronic message communications are not guaranteed to be accurate, timely, secure, or error-free. The information provided speaks only as of its date. Credit Suisse has no duty to update the information or otherwise advise you of changes in our opinion or in the research or information the firm makes available to you.

Not an official communication. The information in this communication is provided as an informational courtesy. Unless otherwise agreed, an electronic message is not intended as an official document or confirmation.

Not Secure Transmissions. Credit Suisse makes no representation or warranty that electronic communications will be confidential. Electronic communications may be intercepted or accessed by unauthorized or unintended parties, may not arrive at the intended destination, or may not arrive in the form transmitted.

Non-Reliance and Risk Disclosure. The material in this electronic communication is provided for information purposes, is intended for your use only and does not constitute an invitation or offer to subscribe for or purchase any of the products or services mentioned. The material of the electronic communication is not intended to provide a sufficient basis on which to make an investment decision. It does not constitute a recommendation or take into account the particular investment objectives, financial conditions, or needs of individual clients. Before acting on this material, you should consider whether the investment is suitable for your particular circumstances, and if necessary, seek professional advice. Any pricing information provided in electronic communications is indicative only and does not represent a level at which an actual trade could be executed. Past performance is not a guide to future performance. Future returns are not guaranteed and a loss of original capital may occur. Information and opinions presented in this material have been obtained or derived from sources believed by Credit Suisse to be reliable, but the firm makes no representation as to their accuracy or completeness.

Not an offer to sell securities in Canada. Only Credit Suisse Securities (Canada), Inc. can offer Canadian securities to Canadian clients for purchase or sale.

Conflict of Interest Disclosure. Credit Suisse is a full-service, integrated investment banking, investment management, and brokerage firm. The professionals who prepared this material are partly paid based on the profitability of the firm, which includes earnings from the firm’s trading, capital markets, investment banking, and other businesses. The views of the Credit Suisse’s Trading Desks may differ materially from the views of the Research Departments and other divisions at Credit Suisse. Credit Suisse has a number of policies in place designed to ensure the independence of its Research Departments from its Trading Desks, including policies relating to trading securities prior to distribution of research reports. These policies do not apply to the materials provided by Fixed Income Sales. Credit Suisse may trade as principal or have trading positions in securities or other financial instruments that are the subject of this material Credit Suisse’s Trading Desks may have accumulated, be in the process of accumulating, or accumulate long or short positions in the subject security or related securities on the basis of Fixed Income Sales materials. Trading desks may have, or take, positions inconsistent with materials provided by Fixed Income Sales. The material communicated is intended only to provide observations and views of the firm’s personnel who have prepared the electronic communication and its materials, which may be different from, or inconsistent with the observations and views of Credit Suisse analysts or other Credit Suisse sales and/or trading personnel, or the trading positions of Credit Suisse. Observations and views of the salesperson or trader may change at any time without notice. In addition, Credit Suisse may have served as manager or co manager of a public offering of securities by any such company within the past three years.

Derivatives Transactions. In any instance where distribution of this communication is subject to the rules of U.S. Commodity Futures Trading Commission ("CFTC"), this communication constitutes an invitation to consider entering into a derivatives transaction under U.S. CFTC Regulations §§ 1.71 and 23.605, where applicable, but is not a binding offer to buy and/or sell any financial instrument.

Market Commentary. Market Commentary produced by Credit Suisse trading, sales and analytic strategists is neither Marketing Material nor research. See full disclaimer at:

Marketing Materials. Marketing Materials are not investment research and is intended for Institutional Investors only. See for Marketing Materials disclaimer.

Not a Valuation. Values stated in electronic communications are not customer valuations and should not be used in lieu of a customer valuation statement or account statement. The information provided herein does not supersede any customer statements, confirmations, or other similar notifications. These values may not reflect the value of the positions carried on the books and records of Credit Suisse or its affiliates and should not be relied upon for the maintenance of your books and records or for any tax, accounting, legal, or other purposes.

Not a Fiduciary. Information in electronic communications is provided to an employee benefit plan or account subject to the Employee Retirement Income Security Act of 1974 or Section 4975 of the Internal Revenue Code solely on the basis that the information will not constitute as investment advice and will not form a primary basis for any person’s or plan’s investment decisions. Nothing in an electronic communication will result in Credit Suisse becoming a fiduciary or advisor with respect to any person or plan. If the information in the electronic communication is provided to any other recipient, it is provided solely on the basis that the recipient has the capability to independently evaluate the investment risk and is exercising independent judgment in evaluating the investment.

Information Not for Further Dissemination. Credit Suisse’s pricing and other information provided in any electronic communication is proprietary and/or confidential, and is provided solely for the internal use of the intended recipient(s). You are notified that any unauthorized use, dissemination, distribution, or copying of an electronic communication or its contents, including pricing information, in whole or in part, is strictly prohibited. Further, unless prohibited by local law, any use, review or acceptance of this information is subject to your agreement with Credit Suisse.

Not Advice to Municipality: Except in circumstances where Credit Suisse expressly agrees otherwise in writing, Credit Suisse is not acting as a municipal advisor and the opinions or views contained herein are not intended to be, and do not constitute as advice, including within the meaning of Section 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. See to the Municipal Advisor disclaimer.

Not Tax Advice. Credit Suisse does not render advice on tax and tax accounting matters to clients. Nothing in the materials provided constitutes as investment, legal, accounting or tax advice, or a representation that any investment or strategy is suitable or appropriate to your individual circumstances. Investors should consult their own legal, tax, investment or other advisors, at the time of any transaction and on an ongoing basis to determine the laws and analyses applicable to their specific circumstances.

Third Party Data. The data contained in an electronic communication may be obtained from a variety of sources and may be subject to change. Credit Suisse and its affiliates disclaim any and all liability for the third party information. Credit Suisse and its affiliates, employees, and officers shall not be held responsible for any loss or liability suffered by you resulting from the firm’s provision of the third party data or your use or reliance in any way on the third party data.

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Monitoring of Communications. Credit Suisse reserves the right, to the extent permitted by applicable law, to monitor electronic communications and to store such communications in a manner and at a location within Credit Suisse’s discretion.

Phone Recording. In accordance with applicable laws and regulations, telephone conversations with Credit Suisse personnel may be recorded and retained.

Other Regulatory Disclosures: Where required by law, pre-trade mid-market mark is the arithmetic mean of bid and offer prices unless otherwise stated; other regulatory disclosures are found at Credit Suisse PLUS.