Risk Disclosure Statements:

• Renminbi is subject to exchange rate risk.  The Hong Kong dollar value of investment will decrease if the Renminbi depreciates against Hong Kong dollar. Conversion between Renminbi and other currencies (including Hong Kong dollar) is subject to policy restrictions relating to Renminbi and consequently the relevant regulatory requirements in Hong Kong. Such requirements may be amended subject to changes in the policy restrictions relating to Renminbi. Renminbi is not freely convertible at present. The actual conversion arrangement will depend on the restrictions prevailing at the relevant time.
• Investment involves risk and past performance is not indicative of future performance.
• The price of the units of funds, bonds, ELI or securities may go down as well as up and may become valueless. It is as likely that losses will be incurred rather than profits made as a result of investing in funds, bonds, ELI or securities. In the worst case scenario, the value of the investment products may be worth substantially less than the original amount you have invested.
• CLD, Investment Funds, ELI, bonds and SD are not equivalent to time deposits or its substitute and provide no guarantee of return or yield on investment. These products are NOT principal protected.
• CLD and SD are not protected deposit and are not protected by the Deposit Protection Scheme in Hong Kong.
• If investors invest in CLD or SD, they will be exposed to the credit risk of the Bank.  They will not receive any interest payments and may even lose the entire principal amount if the Bank defaults in performing its obligations.
• If investors invest in ELIs or bonds, they are relying upon the creditworthiness of the issuer and, as the case may be, the guarantor and no other person. Investors may get nothing back if the issuer and/or the guarantor becomes insolvent or defaults in performing its obligations in relation to the product.
• Investors should consider their own investment experience and objectives, financial resources and relevant circumstances, and read the relevant offering documents (including risk disclosure statement and terms and conditions) before making any investment decision.
• Investors should not base on this promotional material alone to make investment decision. If needed, investors should seek independent professional advice.

Additional Risk Disclosures for CLD:

The net return on a CLD will depend on market conditions prevailing at the Fixing Time on the Fixing Date. The linked currency received may be subject to currency devaluation risk, which may be substantial. The return on a CLD is limited to the interest payment thereon. The losses due to currency devaluation may offset the interests earned on the CLD and may even result in significant losses in the principal amount of the CLD. There is a risk that losses may be incurred rather than profits made as a result of establishing any CLD. Early termination by the customer is not allowed.

Additional Risk Disclosures for Bonds:

(1) Default/Credit risk - There is a risk that the issuer may fail to pay you the interest or principal as scheduled. (2) Interest rate risk - When the interest rate rises, the price of a fixed rate bond will normally drop. (3) Exchange rate risk - If your bond is denominated in a foreign currency, you face an exchange rate risk. Any fall in the value of the foreign currency will reduce the amount you receive when you convert payment of the principal and interest back into your local currency. (4) Liquidity risk - If you need to sell the bonds before maturity for an urgent cash-flow need or use the capital for other investments, you may not be able to do this since the liquidity of the secondary bond market could be low. If you want to sell your bond before it matures, you may get less than your purchase price. (5) Reinvestment risk - If you hold a callable bond, when the interest rate goes down, the issuer may redeem the bond before maturity. If this happens and you have to re-invest the proceeds, the yields on other bonds in the market will generally be less favorable. (6) Equity risk - If your bond is “convertible” or “exchangeable”, you also face equity risk associated with the stock. A fall in the stock price will usually follow by a fall in the bond price.

Additional Risk Disclosures for ELI:

(1)The maximum potential payout of ELI is limited to the aggregate potential distribution amount payable under the ELI. It is possible that you may not receive any potential distribution amount for the entire scheduled tenor of the ELI. (2) When you invest in ELI, you are relying on the issuer’s creditworthiness. If issuer becomes insolvent or defaults on its obligations, you could lose all of your investment. (3)ELI is not secured on any of issuer’s assets or any collateral. (4)ELI is designed to be held till the expiry date. Issuers may only provide limited market making arrangement for the product. However, if you try to terminate the ELI before maturity under the market making arrangement provided by the issuer, you may receive an amount which is substantially less than your original investment amount. (5)Investing in ELI is not the same as investing in the reference asset(s). During the investment period, you have no rights in the reference asset(s). Changes in the market price(s) of such reference asset(s) may not lead to a corresponding change in the market value and / or potential payoff of the ELI.

This promotional material does not itself constitute an offer of, or an invitation by or on behalf of the Bank to any person to purchase or acquire or invest in any investment products.

China CITIC Bank International Limited is an authorized institution under the Banking Ordinance and is regulated by the Hong Kong Monetary Authority.

This promotional material is issued by China CITIC Bank International Limited and has not been reviewed by the Securities and Futures Commission.