EUR 8.75 Million Series B1 Notes - due August 2014 & Program VOLUNTARILY DELISTED upon early redemption of Notes on 01 June, 2014.

Program Description

International Private Capital SPC Ltd (the “Issuer”), a segregated portfolio company incorporated in the BVI and registered as a Professional Mutual Fund has registered a program with the Exchange (the “Program”) pursuant to the Exchange's Restricted Marketing provisions for Qualified Investors and Section IIIB of the BSX Listing Regulations pertaining to International Issuers of Debt Securities.

Types of Notes

The Issuer, in compliance with all applicable laws, regulations and directives, may from time to time issue Notes from various segregated portfolios subject to the Contractual Terms as set out in the Base Prospectus and the Pricing Supplement to each Issue. Notes may be issued in a variety of currencies, as Fixed or Floating Rate Notes, Dual Currency Notes, Linked Notes, Loss Protected Notes or any combination thereof.

Listing Sponsor 

Apex Fund Services Ltd ("Apex") is Listing Sponsor the Program and all Series of Notes Issued there under.

Notes Issued:

Series B1 Dual Currency Loss Protected Linked Notes:

Inception                             € 1,000.00

2009/11/30                           € 1,000.02

2010/02/28                           € 1,055.31