/DGLWWDFRVWUXWWULFHGHFOLQDRJQLUHVSRQVDELOLWjSHUOHLQHVDWWH]]HFRQWHQXWHQHOSUHVHQWHVHGRYXWHDGHUURULGL
VWDPSDRGLWUDVFUL]LRQL
7KHPDQXIDFWXUHUGHFOLQHVDOOUHVSRQVLELOLW\IRUDQ\LQDFFXUDFLHVLQWKLVPDQXDOGXHWRSULQWLQJRUW\SLQJHUURUV
7KHPDQXIDFWXUHUUHVHUYHVWKHULJKWWRPRGLI\WKHSURGXFWVFRQWHQWVLQWKLVFDWDORJXHZLWKRXWSUHYLRXVQRWLFH
/HIDEULFDQWGpFOLQHWRXWHUHVSRQVDELOLWpSRXUOHVHUUHXUVG¶LPSUHVVLRQRXGHWUDQVFULSWLRQTXHSRXUUDLWSUpVHQWHUFHPDQXHO
,OVHUpVHUYHODIDFXOWpGHPRGLILHUHWG¶DPpOLRUHUOHVSURGXLWVSUpVHQWpVGDQVOHFDWDORJXHjWRXWPRPHQWVDQVSUpDYLV
(OIDEULFDQWHGHFOLQDWRGDUHVSRQVDELOLGDGSRUFXDOTXLHULPSUHFLVLyQHQHVWHPDQXDOGHELGRDHUURUHVGH
LPSUHVLyQRGHPHFDQRJUDItD
(OIDEULFDQWHVHUHVHUYDHOGHUHFKRGHPRGL¿FDUORVSURGXFWRVLQFOXLGRVGHHVWHFDWiORJRVLQSUHYLRDYLVR
*HQWLOHFOLHQWH
/DULQJUD]LDPRSHUDYHUSUHIHULWRQHOODFTXLVWRXQFOLPDWL]]DWRUH)(552/,(VVRqIUXWWRGLSOXULHQQDOLHVSHULHQ]HHGL
SDUWLFRODULVWXGLGLSURJHWWD]LRQHHGqVWDWRFRVWUXLWRFRQPDWHULDOLGLSULPLVVLPDVFHOWDHFRQWHFQRORJLH
DYDQ]DWLVVLPH/DPDUFDWXUD&(LQROWUHJDUDQWLVFHFKHJOLDSSDUHFFKLULVSRQGDQRDLUHTXLVLWLGHOOD'LUHWWLYD0DFFKL
QH(XURSHDLQPDWHULDGLVLFXUH]]D,OOLYHOORTXDOLWDWLYRqVRWWRFRVWDQWHVRUYHJOLDQ]DHGLSURGRWWL)(552/,VRQR
SHUWDQWRVLQRQLPRGL6LFXUH]]D4XDOLWjH$I¿GDELOLWj,OQRVWUR6HUYL]LRGL$VVLVWHQ]DSLYLFLQRVHQRQFRQRVFLXWR
SXzHVVHUHULFKLHVWRDO&RQFHVVLRQDULRSUHVVRFXLODSSDUHFFKLRqVWDWRDFTXLVWDWRRSXzHVVHUHUHSHULWRVXOOH3DJL
QH*LDOOHVRWWRODYRFH&RQGL]LRQDPHQWRR&DOGDLHDJDVYDOLGRVRORSHULOPHUFDWRLWDOLDQR,GDWLSRVVRQRVXELUH
PRGL¿FKHULWHQXWHQHFHVVDULHSHULOPLJOLRUDPHQWRGHOSURGRWWR
1XRYDPHQWHJUD]LH
)(552/,6S$
'HDU&XVWRPHU
7KDQN\RXIRUKDYLQJSXUFKDVHGD)(552/,SURGXFW,WLVWKHUHVXOWRIPDQ\\HDUVRIH[SHULHQFHVDQGRISDUWLFXODU
UHVHDUFKVWXGLHVDQGKDVEHHQPDGHZLWKWRSTXDOLW\PDWHULDOVDQGDGYDQFHGWHFKQRORJLHV7KH&(PDUNJXDUDQWHHV
WKDWWKHSURGXFWVVDWLVI\DOOWKHDSSOLFDEOH(XURSHDQ'LUHFWLYHV
7KHTXDOLWDWLYHOHYHOLVNHSWXQGHUFRQVWDQWFRQWURODQG)(552/,SURGXFWVWKHUHIRUHRIIHU6$)(7<48$/,7<DQG
5(/,$%,/,7<'XHWRWKHFRQWLQXRXVLPSURYHPHQWVLQWHFKQRORJLHVDQGPDWHULDOVWKHSURGXFWVSHFL¿FDWLRQDVZHOO
DVSHUIRUPDQFHVDUHVXEMHFWWRYDULDWLRQVZLWKRXWSULRUQRWLFH
7KDQN\RXRQFHDJDLQIRU\RXUSUHIHUHQFH
)(552/,6S$
&KHUFOLHQW
1RXVYRXVUHPHUFLRQVG¶DYRLUFKRLVLXQSURGXLW)(552/,,OUHSUpVHQWHOHUpVXOWDWG¶XQHORQJXHH[SpULHQFHHWG¶XQH
UHFKHUFKHDWWHQWLYHHWDpWpUpDOLVpjSDUWLUGHPDWpULDX[GHSUHPLHUFKRL[HWVHORQGHVSURFHVVXVGHSRLQWH/HODEHO
&(JDUDQWLWTXHOHVSURGXLWVVRQWFRQIRUPHVjWRXWHVOHVGLUHFWLYHVHXURSpHQQHVDSSOLFDEOHV/HQLYHDXTXDOLWDWLI
IDLWO¶REMHWG¶XQFRQWU{OHFRQVWDQWGHVRUWHTXHOHVSURGXLWV)(552/,SXLVVHQWWRXMRXUVrWUHV\QRQ\PHGH6pFXULWp
4XDOLWpHW)LDELOLWp
(QYXHG¶DPpOLRUHUVHVSURGXLWV)(552/,SHXWHQPRGL¿HUOHVFDUDFWpULVWLTXHVjWRXWPRPHQWVDQVSUpDYLV
1RXVUHQRXYHORQVQRVUHPHUFLHPHQWV
)(552/,6S$
(VWLPDGRFOLHQWH
*UDFLDVSRUKDEHUFRPSUDGRXQSURGXFWR)(552/,(VWHHVHOUHVXOWDGRGHPXFKRVDxRVGHH[SHULHQFLD\GH
LQYHVWLJDFLyQSULYDGD\KDVLGRIDEULFDGRFRQPDWHULDOHVGHSULPHUDFDOLGDG\WHFQRORJtDVDYDQ]DGDV/DPDUFD
&(JDUDQWL]DTXHORVSURGXFWRVFXPSOHQWRGDVODV'LUHFWLYDV(XURSHDVDSOLFDEOHV
(O QLYHO GH FDOLGDG VH PDQWLHQH EDMR XQ FRQVWDQWH FRQWURO \ ORV SURGXFWRV )(552/, RIUHFHQ SRU OR WDQWR
6(*85,'$'&$/,'$'\&21),$%,/,'$''HELGRDODVPHMRUDVFRQWLQXDVHQWHFQRORJtDV\PDWHULDOHVODV
HVSHFL¿FDFLRQHVGHOSURGXFWRDVtFRPRODVSUHVWDFLRQHVHVWiQVXMHWDVDYDULDFLRQHVVLQSUHYLRDYLVR
*UDFLDVXQDYH]PiVSRUVX
SUHIHUHQFLD
)(552/,6S$