If you are looking for a foreign currency loan at a better interest rate than you could obtain by borrowing directly in a foreign market, you need a currency swap. With a currency swap you can exchange the principal amount of a loan and the interest payable on it in one currency for the principal and interest in another. By setting up a currency swap you:

• Agree the exchange of a principal amount at the spot rate
• Swap back the principal at either the prevailing rate or the spot rate or at a pre-agreed rate
• Can manage your cash flows better

An interest rate swap allows you to agree to exchange the future interest rate payments you make over a set period on loans or bonds. LIBOR is the benchmark for floating short-term interest rates and is set daily. With an interest rate swap you:

• Can manage your cash flows and interest rate risk better
• Make no exchange of the principal

Emirates NBD offers you the benefit of both a deposit and an investment product with our Structured Deposit. Features of these deposits include:

• The potential for higher returns compared to fixed deposits
• May be taken in 'tranches' with either a fixed offer period or available until the tranche is fully subscribed (tranches may come with differing features and returns)
• Returns may depend on the performance of the underlying investment product

Our Structured Note combines a bond (to protect your principal) and a derivative element. The bond makes up most of the investment (typically 80%), and the derivative element gives you exposure to potentially higher returns. Features of the note include:

• Protection of your principal invested (if held to maturity)
• Terms of between 18 months and six years
• Higher potential returns than a simple deposit