Adjustment of Securities linked to UniCredit SpA

The company Unicredit SPA has announced a reverse stock split at a ratio of 1:10. Beside the reverse stock split, the company announced also an ISIN change. As a consequence, we have adjusted the security with effect from 23/01/2017 (effective date) according to the terms and conditions of the security.

Deatils with respect to the adjustments of a particular Security are accessible on the product detail site of the Security (please use the product search on the home site to access the product detail site) under the rider <Product history>.

Frankfurt am Main, 23.01.2017Vontobel Financial Products GmbH