95% Capital Protected Autocallable Certificate with Memory Effect on

France Telecom, Deutsche Telekom and Telefonica

10% p.a. Annual Conditional Coupon - Capital Guaranteed at 95% - 5 Years - EUR

Details Redemption
Issuer EFG Financial Products
Guarantor EFG International Collateral-Secured Instrument On 25.03.2010 Client pays EUR 1000 (Denomination)
Rating: Fitch A No issuer risk
Stocks FRANCE TELECOM SA DEUTSCHE TELEKOM AG-REG TELEFONICA
SA Every Year with N being the number of years since inception
Bbg Ticker FTE FP Equity DTE GY Equity TEF SM Equity
Spot Ref. (100%) EUR 17.59 EUR 9.81 EUR 17.68 If all the stocks are at or above their Autocall Level,
Autocall Level (100%) EUR 17.59 EUR 9.81 EUR 17.68 The product is autocalled and the investor will receive a Cash Settlement in EUR equal to:
Coupon Trigger Level (100%) EUR 17.59 EUR 9.81 EUR 17.68 Denomination + Coupon of (N x 10) %. The product expires
Initial Fixing Date 15.03.2010
Payment Date 25.03.2010 Example: if the product is autocalled on the 15.03.2013, you will receive a Cash Settlement in
Valuation Date 16.03.2015 EUR equal to 130% of the Denomination: your total return is 30%
Maturity 25.03.2015
On 25.03.2015 Client receives (if the product has not been autocalled until then):
Details Cash Settlement Capital 95% guaranteed
Annual Autocall Observations The Investor will receive a Cash Settlement in EUR equal to:
ISIN CH011108625 95% x Denomination
Valoren 11108062
SIX Symbol EFHDF

Characteristics
stock_____________________________________________________________________________________________________________________________________________________________________________________________
- France Telecom SA provides telecommunications services to residential, professional, and large business customers. The Company offers public fixed-line telephone, leased lines and data transmission, mobile
telecommunications, cable television, Internet and wireless applications, and broadcasting services, and telecommunications equipment sales and rentals.

- Deutsche Telekom AG offers telecommunications services. The Company offers a full range of fixed-line telephone services, mobile communications services, Internet access, and combined information technology and
telecommunications services for businesses.

- Telefonica S.A. provides telecommunications services mainly to countries in Europe and Latin America. The Company offers fixed-line and mobile telephone, Internet, and data transmission services to residential and
corporate customers.

Opportunities__________________________________________________________________________________ Risks______________________________________________________________________________________________
1. Annual opportunity to receive a (N x 10%) Coupon + the Denomination 1. Your Capital is not at risk at Maturitiy
2. Your capital is 95% protected at Maturity: No capital at risk 2. No coupon will be paid if at least one stock closes below the Autocall level on the
3. Memory effect feature: the investor has the chance to receive any missed coupons on one of Observ ation dates
the next observ ation dates
4. COSI Product: the I nvestor does not bear issuer's Credit risk

Best case scenario______________________________________________________________________________ Worst case scenario_______________________________________________________________________________

The Worst performing stock closes below the Strike level on the 4 first Observation dates, and The Worst Performing stock has never closed above the Strike Level and is below the
abov e the Autocall Trigger on the Valuation date Autocall Level on the Valuation date

Redemption: Denomination + 5 Coupons of 10% (Total Return: 150%) Redemption: 95% of the Denomination

Historical Chart
180%
importer depuis la deuxieme feuille
Year-end scenario
Deutsche Telekom N years since inception
160%
France Telecom

140% Telefonica Early Redemption:

Denomination + (N x 10%) Coupon

120%

Strike: 100% of Spot Reference

100%

80% Redemption on the Maturity Date:

95% of Denomination

60%
Jan-05 Jun-05 Nov-05 Apr-06 Sep-06 Feb-07 Jul-07 Dec-07 May-08 Oct-08 Mar-09 Aug-09 Jan-10

Contacts
Filippo Colombo Christophe Spanier Nat hanael Gabay
Bruno Frateschi +41 58 800 10 45 Sofiane Zaiem
St anislas Perromat +41 22 918 70 05
Alejandro Pou Cut uri Live prices at www.efgfp.com
+377 93 15 11 66

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no t qualify as units o f a co llective investment scheme pursuant to art. 7 et seqq. o f the Swiss Federal A ct o n Co llective Investment Schemes (CISA ) and are therefo re neither registered no r supervised by the Swiss Financial M arket Superviso ry A utho rity FINM A. Investo rs bear the credit risk o f the issuer/guaranto r. Befo re investing in derivative
instruments, Investo rs are highly reco mmended to ask their financial adviso r fo r advice specifically fo cused o n the Investo r´s financial situatio n; the info rmatio n co ntained in this do cument do es no t substitute such advice. This publicatio n do es no t co nstitute a simplified pro spectus pursuant to art. 5 CISA , o r a listing pro spectus pursuant to art. 652a o r
1156 o f the Swiss Co de o f Obligatio ns. The relevant pro duct do cumentatio n can be o btained directly at EFG Financial Pro ducts AG: Tel. +41(0)58 800 1111, Fax +41(0)58 800 1010, o r via e-mail: termsheet@efgfp.co m. Selling restrictio ns apply fo r Euro pe, Ho ng Ko ng, Singapo re, the USA, US perso ns, and the United Kingdo m (the issuance is subject to Swiss
law). The sto cks´ perfo rmance in the past do es no t co nstitute a guarantee fo r their future perfo rmance. The financial pro ducts' value is subject to market fluctuatio n, what can lead to a partial o r to tal lo ss o f the invested capital. The purchase o f the financial pro ducts triggers co sts and fees. EFG Financial Pro ducts A G and/o r ano ther related co mpany
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