The Plan has a maturity of six years and is intended as a medium term investment. If you sell your investment before its maturity date you may get back less than your Initial Investment. Prior to maturity, limited liquidity for the securities will be provided in the secondary market. This means that it may not always be possible to sell the securities at certain times and that the price achieved may be less than the original investment. It is anticipated that MSI plc will be the only dealer in the securities. MSI plc may also have been or may be an associate of an issuer (or any of its affiliated companies) of Notes in which the Plan invests and as such may have a conflict with the holders of those Notes. In acting as a dealer in any notes, the economic interests of MSI plc may be different from those of the holders or the relevant issuer.

Your money will be invested in securities issued by financial institutions with a credit rating, at the time of  publication of this brochure, of AA- or better by Standard & Poor’s or the equivalent rating by Moody’s Investor Services Limited at the time of purchase. These securities will be designed to provide the return for your investment. In the event of these financial institutions going into liquidation or failing to comply with the terms of the securities, you may not receive the anticipated returns on your investment and you may lose all or part of the money you originally invested. The Plan is not a guaranteed investment.

Credit ratings are an independent measure of credit worthiness. They can be applied to financial institutions and are assessed and reviewed by independent companies known as ratings agencies (including Standard and Poor’s and Moody’s Investor Services, amongst others). Credit ratings for financial institutions can go up or down at any point in response to changes in the financial position of the financial institution in question.

The growth returns of the Plan are based on the price performance of the Basket and do not include any return from dividend income or participation in corporate actions, as would be the case if you invested directly in the shares comprised in the Basket. Accordingly, the return on the Plan may be less than the return from a direct investment in such shares.

If the Early Exit Feature is triggered you will not participate in any Basket growth above 30%.

If the Early Exit Feature is not triggered the Final Basket Level will not be based on a single reading of the Basket, but on the average level of the Basket on a given set of dates over the final twelve months (13 observations), defined in the Returns At  Maturity section on page 3 of the brochure. Any increase or fall in the level of the Basket at any time or on any date other than its closing level on any of such given dates will not be reflected in the determination of the return on the Plan. There can be no assurance that the average Basket level or that the Initial Basket level will reflect the then prevailing  trend (if any) for the level of the Basket or the market price of the shares comprised in it. While the use of averaging may protect against falls in the Basket on a specific date, it may also significantly constrain the performance of the Basket, as used to calculate the return on the Plan. Accordingly, the calculation of the average Basket level may result in a lower return than if a single reading of the Basket Index was taken at the Plan maturity.

If you have invested via an ISA and subsequently decide to withdraw, it may not be possible to invest in another ISA of the same type for the same tax year in which you have invested if your cancellation period has expired. If you have invested via an ISA transfer, unless you are able to find another plan  manager to transfer your investment to, any favourable tax treatment associated with that ISA holding will be irrevocably lost.

Your circumstances could change, forcing you to withdraw and realise your investment early. If this happens, you may get back less than the amount you originally invested.

The formula under which the return on the Plan is likely to be calculated provides that in certain circumstances calculation of the return may be adjusted to take account of market disruption events interfering with determination of the level of the Basket. A relevant market disruption would be a suspension or limitation of trading on the London Stock Exchange of a material proportion of the shares included in the Basket, which would delay or prevent calculation of the official Basket level. Should this occur, the return on the Plan may be affected and may be more or less than would otherwise have been the case. Similar provisions are also likely to be included to address any charge, modification or failure in respect of the calculation and announcement of the Basket with similar consequences.

Payments scheduled to be made in respect of the securities in which the Plan will invest your money may be delayed where market disruption events occur (as described above), causing a delay to the availability of published index levels for the Basket, and potentially therefore delays in the Plan Manager making payments to you. Where necessary in the event that any such payments are delayed, corresponding adjustments will be made to the scheduled dates for payment under the Plan.

MSI plc does not give investment advice. If you are in any doubt about the suitability of this investment, you should contact your independent financial adviser. Past performance is not necessarily a guide to future performance and should not be used to assess the risks associated with this investment. In recent years the performance of the Basket has been volatile. There can be no assurance as to the future performance of the Basket. Before making an investment in the Plan you should consider whether an investment linked to the Basket is suitable for you.

The levels and basis of taxation and reliefs from taxation can change at any time. The value and availability of any tax relief depends on individual circumstances. The favourable tax treatment of ISAs and PEPs* may not be maintained throughout the term of the ISA/PEP*, and is subject to changes in legislation.

Please refer to the Brochure and the Terms & Conditions for full details.