FBR Capital Markets & Co.
Disclaimer:
FBR Capital Markets & Co. (“FBRC”) and FBR Capital Markets LT, Inc. (“FBRLT”) (collectively “FBR”) may monitor messages.
This message is for
your information only and is not an offer to sell, or a solicitation
of an offer to buy, the securities or instruments mentioned. Orders
and instructions are not binding until an agent of FBRC confirms
receipt. Unless otherwise indicated, the views expressed are the
sender's and may differ from those of FBRC research or others within
the firm. Changes to assumptions may have a material impact on any
returns detailed. Price and availability are subject to change
without notice. No representation is made that any transaction can
be effected at the values provided. The values provided are not
necessarily the values carried on FBRC's books.
Disclaimer:
Services for securities products are provided through FBRC. Services for non-securities products are provided through FBRLT, FBRC’s affiliate. This message has been prepared by the institutional sales and trading departments of either FBRC or FBRLT and is not a product of FBRC’s Research Department. The message is provided for informational purpose only and should not be construed as advice designed to meet the particular investment needs of any investor, nor as an offer or solicitation to buy or sell the securities or other products mentioned herein. Unless otherwise indicated, the views expressed are the sender's and may differ from those of FBRC Research or others within FBR. This message does not contain analysis or information sufficient to form the basis for an investment decision and does not represent research. If a hyperlink to research is provided and is inaccessible, please contact the sender of this message. From time to time, FBR, their affiliated entities, and their respective directors, officers, employees, or members of their immediate families may have a long or short position or effect transactions in the securities of the companies mentioned herein, and may have received compensation from the companies for investment banking or other services and may seek to provide such services in the future. FBRC may be a market maker in the securities of the companies mentioned in this message and the author may be compensated based in part on FBR’s proprietary trading revenues. The information contained herein is current as of the date indicated and FBRC has no obligation to update such information. All investments in securities entail an element of risk, and the securities mentioned herein may not be suitable for all investors. Information concerning unregistered securities is provided for use by eligible investors only. This message is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. Commentary regarding the future direction of financial markets is illustrative and is not intended to predict actual results. The author of this email is not acting in the capacity of an attorney and the information contained herein is not intended to constitute legal advice.
This message is intended for the use of the party to whom FBRC has sent it and is not to be reprinted or redistributed without the permission of FBRC.
Swaps, options and other derivative transactions are not suitable for all investors. This brief statement does not disclose all of the risks and other significant aspects of entering into any particular transaction. Prior to undertaking any trade, you should discuss with your professional tax, ERISA, legal, accounting, regulatory or other adviser how such particular trade(s) may affect you. Please ensure that you have read and understood the current options risk disclosure document before entering into any options transactions. Supporting documentation is available upon request. The options risk disclosure document can be accessed at the following web address: http://www.optionsclearing.com/components/docs/riskstoc.pdf. If this link is inaccessible, please contact your representative.
This information has been produced by FBRC under a compliance routine approved by FBR Capital Markets International Ltd., its U.K. affiliate which is authorized and regulated by the Financial Services Authority to disseminate marketing communications to eligible counterparties and professional clients as defined by the Financial Services Authority throughout the European Economic Area. Retail Clients must not rely on this publication and should note that the services of FBR Capital Markets International Ltd. are not available to them.
