DISCLAIMER BBVA Quantitative Investment Strategies (not administrator)

The Indexes are not calculated, sponsored, administered or published in any manner by Banco Bilbao Vizcaya Argentaria, S.A. nor any of its affiliates (hereinafter, “BBVA”). BBVA does not act as an administrator or a contributor of the Indexes. BBVA does not offer any express or implicit guarantee or assurance with regard to the calculation, publication or results of using the Indexes and/or Indexes trade mark or the Indexes prices or levels at any time or in any other respect.

There is no corporate ownership relationship between BBVA and the third party organisation relevant to this particular index, being independent companies.

BBVA is not responsible for the Indexes in any case. BBVA makes no representations or warranties, either explicit or implied, as to the accuracy, reliability or completeness of the matters stated in this marketing communication (hereinafter, the “Document”). All statements, information and data in this Document are merely indicative and subject to change without notice and shall not in any case be deemed to constitute an offer, invitation, solicitation, investment advice or a recommendation to enter into any transaction or to trade, nor shall they form the basis of any contract, commitment or investment decision of any kind. Historical performance of securities, instruments, products or indexes (including the Indexes) or the historical results of investments do not guarantee future performance. This Document and its content do not constitute, and shall not be deemed to in any way offer, invitation or solicitation to purchase or subscribe any securities or other instruments, or to undertake investments or divestments and they are therefore not intended to form the basis of any contract or commitment. The document does not constitute investment advice, legal advice, tax advice or personal recommendation. You acknowledge that the products described herein may not be appropriate for you due to your specific investment or risk management goals, financial positions or risk profiles. Therefore, before entering into a transaction, you should independently evaluate the financial, market, legal, regulatory, credit, tax and accounting risks and consequences involved and consult your own advisors. BBVA is not providing any such advice. The performance by BBVA of any of the tasks mentioned in this Document is conditional upon all of the definitive legal documentation being entered into between itself and a potential client, and BBVA having access to any of the third party platforms or services mentioned in it. BBVA does not accept any liability for any action taken by you or any third party in reliance on the matters stated in this Document, nor for any direct or indirect damage, cost or loss of any nature whatsoever arising out of any error or inaccuracy in it. If you are a U.S. person (as defined in Regulation S under the Securities Act of 1933), the information presented here is provided to you by BBVA Securities Inc. (“BSI”), the U.S. broker-dealer of the BBVA Group. You should directly contact your representative at BSI for further information should you have any questions. Under Section 871(m) of the IRS, trading on U.S. underlyings could be restricted. This Document is not intended for distribution to, or to be used by, any person or entity in any jurisdiction or country which distribution or use would be contrary to law or regulation.

No part of this Document may be (i) copied, photocopied or duplicated by any other form or means (ii) redistributed or (iii) quoted, without the prior written consent of BBVA. It is understood that you accept all of the warnings and conditions contained herein in its entirety.

DISCLAIMER FTSE/Russell  (administrator)

All rights in the Russell 2000 Futures 40% ATV Volatility Index (the “Index”) vest in the relevant LSE Group company which owns the Index. “FTSE®” “Russell®”, “FTSE Russell®” are trademarks of the relevant LSE Group company and is/are used by any other LSE Group company under license.
The Index is calculated by or on behalf of FTSE International Limited or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the Index or the suitability of the Index for the purpose to which it is being put by BBVA.

FTSE Russell is a trading name of FTSE International Limited, Frank Russell Company, FTSE Global Debt Capital Markets Limited (and its subsidiaries FTSE Global Debt Capital Markets Inc. and FTSE Fixed Income Europe Limited), FTSE Fixed Income LLC, FTSE (Beijing) Consulting Limited, Refinitiv Benchmark Services (UK) Limited, Refinitiv Limited and Beyond Ratings. FTSE Russell hereby notifies users of the index series that it is possible that circumstances, including external events beyond the control of FTSE Russell, may necessitate changes to, or the cessation of, the index series and therefore, any financial contracts or other financial instruments that reference the index series or investment funds which use the index series to measure their performance should be able to withstand, or otherwise address the possibility of changes to, or cessation of, the index series. Index users who choose to follow this index series or to buy products that claim to follow this index series should assess the merits of the index series’ rules-based methodology and take independent investment advice before investing their own or client funds. No liability whether as a result of negligence or otherwise is accepted by FTSE Russell for any losses, damages, claims and expenses suffered by any person as a result of:
any reliance on these Ground Rules, and/or
any inaccuracies in these Ground Rules, and/or
any non-application or misapplication of the policies or procedures described in these Ground Rules, and/or
any inaccuracies in the compilation of the index series or any constituent data.

The indices are published at the end of each day on which the underlying index is published excluding days that fall on 1 January, 4 July and 25 December and the imediately preceding weekdays that fall before these dates, such a day being an Index Calculation Day. Further guidance can be found in the following document: https://www.lseg.com/content/dam/ftse-russell/en_us/documents/policy-documents/ftse-russell-index-policy-for-trading-halts-and-market-closures.pdf“