INDEX OF DEFINED TERMS - Banca di Legnano

Level: 2 – From: 2 – Wednesday, July 21, 2010 – 13:20 – eprint6 – 4247 Section 10
United States Taxation
(c)
(d)
the interest is not received by a bank on an extension of credit made pursuant to a loan
agreement entered into in the ordinary course of its trade or business; and
the interest is not effectively connected with the conduct of a trade or business within the
United States.
Under Section 871(h)(4)(A) of the Code, payments of certain types of contingent interest to a
United States Alien holder (or any foreign partnership without regard to its status as a United States Alien)
may be subject to United States withholding tax equal to 30.00 per cent. of each such payment (or such
lower amounts as provided by treaty). In addition, interest on Bearer Notes that are Dual Currency Notes
may be subject to withholding, depending upon the terms of those Bearer Notes. If any Bearer Note not
specified as a Structured Note in the applicable Final Terms bears contingent interest or is a Dual Currency
Note, the applicable Final Terms will specify if interest payments on such notes are subject to any United
States withholding taxes.
Registered Notes Other than Structured Notes
In respect of Registered Notes other than Registered Notes that are specified as “Structured Notes”
in the applicable Final Terms, under the United States federal income tax laws as in effect on the date of
this Offering Circular, and subject to the discussion below, payments of principal and interest (including
original issue discount), if any, by the Issuer or any Paying Agent (acting in its capacity as such), to any
holder of a Registered Note (other than Dual Currency Notes) who is a United States Alien holder
generally will not be subject to United States federal income or withholding tax, in the case of interest
(including original issue discount) provided that: (i) the requirements of (a) through (d) under “– Bearer
Notes” above are met; and (ii) either (A) the holder provides the Issuer (or any paying agent) with a
statement which sets forth its address, and certifies, under penalties of perjury, that it is not a United States
person (which certification generally may be made on an IRS Form W-8BEN (or successor form)) or (B) a
financial institution holding the Registered Note on behalf of the holder certifies, under penalties of
perjury (which certification generally may be made on an IRS Form W-8IMY (or successor form)), that it
has received and will provide the Issuer (or the paying agent) with a statement described in (A) above (the
“Certification Requirement”).
Payments to United States Alien holders not meeting the requirements set forth above are subject to
withholding at a rate of 30.00 per cent. unless (a) the holder is engaged in a trade or business in the United
States and the holder provides the Issuer with a properly executed IRS Form W-8ECI (or successor form)
certifying that the payments are effectively connected with the conduct of a trade or business in the United
States, or (b) the holder provides the Issuer with a properly executed IRS Form W-8BEN (or successor
form) claiming an exemption from, or reduction in the rate of, withholding under the benefit of a tax
treaty. To claim benefits under an income tax treaty, a United States Alien holder must obtain a taxpayer
identification number and certify as to its eligibility under the appropriate treaty’s limitations on benefits
article. In addition, special rules may apply to claims for treaty benefits made by holders that are entities
rather than individuals. Under Section 871(h)(4)(A) of the Code, payments of certain types of contingent
interest to a United States Alien holder (or any foreign partnership without regard to its status as a United
States Alien) may be subject to United States withholding tax equal to 30.00 per cent. of each such
payment (or such lower amounts as provided by treaty). In addition, interest on Registered Notes that are
Dual Currency Notes may be subject to withholding, depending upon the terms of those Registered Notes.
If any Registered Note not specified as a Structured Note in the applicable Final Terms bears contingent
interest or is a Dual Currency Note, the applicable Final Terms will specify if interest payments on such
notes are subject to any United States withholding taxes.
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