Phoenix Certificate Memory Effect on ISHARES MSCI BRAZIL

2% Conditional Semestrial Coupon - European Barrier at 55% - 5 Years - USD

Details Redemption
Issuer TBD (To Be Determined)
Guarantor EFG International (rating: Fitch A) On 14.04.2010 Client pays USD 1000 (Denomination)
or Other (minimum rating: AA- or equivalent)
Underlying ISHARES MSCI BRAZIL Every Semester (1 to 10) Client receiv es:
Bbg Ticker EWZ US Equity If the Underlying is at or above 55% of its Strike Level:
Strike Level USD 75.31 N Coupon(s) of 2% for each semester the Investor has not received a Coupon.
Barrier Level 55% of Strike Level
Trigger Level 100% of Strike Level If the Underlying is at or above 100% of its Strike Level:
Coupon Trigger Level 55% of Strike Level The Product expires and the Investor receives a Cash Settlement in the Settlement Currency equal
Trade Date 07.04.2010 to: Denomination
Payment Date 14.04.2010
Valuation Date 07.04.2015 On 14.04.2015 Client receiv es (if the product has not expired):
Maturity Date 14.04.2015 a. If the Final Fixing Level of the Underlying is at or above 55% of its Strike Level, the Investor will
Details Cash Settlement Semi-Annual Coupon Observations receive a Cash Settlement in the Settlement Currency equal to: Denomination
Semi-Annual Autocall Observations
ISIN CH0111528003 b. If the Final Fixing Level of the Underlying is below 55% of its Strike Level, the Investor will receive
Valoren 11152800 a Cash Settlement in the Settlement Currency equal to:
SIX Symbol not listed Denomination x Final Fixing Level of the Underlying / Strike Level of the Underlying

Characteristics
Underlying___________________________________________________________________________________________________________________________________________________________________________________________
iShares MSCI Brazil Index Fund is an exchange-traded fund in the USA. The Fund's objective is to provide investment results that correspond to the performance of publicly traded securities in the Brazilian
market, as measured by the MSCI Brazil (Free) Index. The Fund invests in a representative sample of index stocks using a "portfolio sampling" technique.

Opportunities_________________________________________________________________________ Risks____________________________________________________________________________________________
1. Each semester, the inv estor has the opportunity to receiv e an 2% Coupon with 1. I f on the Final Fixing Date the Underlying closes below its Barrier Lev el, the I nv estor will suffer
Memory Feature a loss reflecting the performance of the Underlying
2. Early Redemption Possible each semester
3. Your capital is protected against a decrease of 45% at maturity
Best case scenario___________________________________________________________________ Worst case scenario______________________________________________________________________________
The Underlying closes between the Coupon Trigger Lev el and the Trigger Lev el on The Underlying closes below the Coupon Trigger Lev el on each Observ ation date, and it closes
each Observ ation Date, and it closes at or abov e the Trigger Lev el on the below the Trigger Lev el on the Valuation Date.
Valuation date.

Redemption: Denomination + 10 Coupons of 2%. Redemption: Denomination x Final Fixing Lev el of the Underlying / Strike Lev el of the Underlying

Historical Chart
160%
importer depuis la deuxieme feuille

140%
Coupon is paid and product
120% expires

Autocall Level at 100%

100%

80%
Coupon is paid
Barrier Level and Coupon Trigger at 55%
60%

40%

No Coupon is paid
20% + Negative performance

0%
Apr-07 Aug-07 Dec-07 Apr-08 Aug-08 Dec-08 Apr-09 Aug-09 Dec-09

Contacts
Filippo Colombo Christophe Spanier Nathanael Gabay
Bruno Frateschi +41 58 800 10 45 Sofiane Zaiem
Stanislas Perromat +41 22 918 70 05
Alejandro Pou Cuturi Live prices at www.efgfp.com
+377 93 15 11 66
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instruments. They do not qualify as units of a collective investment scheme pursuant to art. 7 et seqq. of the Swiss Federal A ct on Collective Investment Schemes (CISA ) and are therefore neither registered nor supervised by the Swiss Financial M arket Supervisory Authority FINM A. Investors bear the credit risk of the issuer/guarantor.
Before investing in derivative instruments, Investors are highly recommended to ask their financial advisor for advice specifically focused on the Investor´s financial situation; the information contained in this document does not substitute such advice. This publication does not constitute a simplified prospectus pursuant to art. 5 CISA,
or a listing prospectus pursuant to art. 652a or 1156 of the Swiss Code of Obligations. The relevant product documentation can be obtained directly at EFG Financial P roducts AG: Tel. +41(0)58 800 1111, Fax +41(0)58 800 1010, or via e-mail: termsheet@efgfp.com. Selling restrictions apply for Europe, Hong Kong, Singapore, the USA, US
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