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 S&P BRIC 40TM Index 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 S&P BRIC 40TM Index. Accordingly, the return on the Plan may be less than the return from a direct investment in such shares.

On maturity, the Plan is designed to provide investor with the full return of their capital plus 1.05 (105%) times the growth of the S&P BRIC 40TM Index subject to a maximum return of 63 (63%).

Past performance is not necessarily a guide to future performance and should not be used to assess the risks associated with this investment.

The markets on which the S&P BRIC 40TM Index rely can be volatile and cyclical, with periods of strong performance often followed by periods of low or negative performance. There can be no assurance as to the future performance of the S&P BRIC 40TM Index and in any six year period the performance may differ from past performance and may generate higher or lower returns, including zero or negative returns. Before making an investment in the Plan you should consider whether an investment linked to the S&P BRIC 40TM Index is suitable for you.

The Final Index Level will not be based on a single reading of the S&P BRIC 40TM Index, but on  the average level of the Index 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 S&P BRIC 40TM Index 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 S&P BRIC 40TM Index level or that the Initial Index level will reflect the then prevailing trend (if any) for the level of the S&P BRIC 40TM Index or the market price of the shares comprised in it. While the use of averaging may protect against falls in the S&P BRIC 40TM Index on a specific date, it may also significantly constrain the performance of the S&P BRIC 40TM Index, as used to calculate the return on the Plan. Accordingly, the calculation of the average S&P BRIC 40TM Index level may result in a lower return than if a single reading of the S&P BRIC 40TM Index was taken at the Plan maturity.

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 S&P BRIC 40TM Index. A relevant market disruption would be a suspension or limitation of trading on the underlying Index’s exchanges (Hong Kong Stock Exchange, London Stock Exchange, Nasdaq and New York Stock Exchange) of a material proportion of the shares included in the S&P BRIC 40TM Index, which would delay or prevent calculation of the official S&P BRIC 40TM Index 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 S&P BRIC 40TM Index 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 S&P BRIC 40TM Index, 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.

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.