CMSTR Note

The MicroStrategy Note is not available in the following jurisdictions:

EU: Germany, Luxembourg

Non-EU: Afghanistan, Albania, Algeria, American Samoa, Angola, Anguilla, Antigua and Barbuda, Bangladesh, Barbados, Belarus, Benin, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Brunei, Burkina Faso, Burundi, Cambodia, Cameroon, Cape Verde, Central African Republic, Chad, China, Comoros, Cuba, Democratic Republic of the Congo, Djibouti, East Timor, Ecuador, Equatorial Guinea, Eritrea, Ethiopia, Fiji, Gabon, Ghana, Gibraltar, Guam, Guinea-Bissau, Guinea, Guyana, Haiti, Iran, Iraq, Ivory Coast, Jamaica, Jordan, Kenya, Kiribati, Kosovo, Kyrgyzstan, Laos, Lebanon, Liberia, Libya, Macao, Madagascar, Maldives, Mali, Marshall Islands, Mauritania, Micronesia, Mongolia, Morocco, Mozambique, Myanmar, Namibia, Nepal, Nicaragua, Niger, Nigeria, Niue, North Korea, Northern Mariana Islands, Oman, Pakistan, Palau, Palestinian Territory, Panama, Papua New Guinea, Philippines, Republic of the Congo, Russia, Rwanda, Saint Lucia, Samoa, Sao Tome and Principe, Senegal, Serbia, Seychelles, Sierra Leone, Solomon Islands, Somalia, South Sudan, Sri Lanka, Sudan, Suriname, Swaziland, Syria, Tajikistan, Tanzania, Thailand, Togo, Tonga, Trinidad and Tobago, Turkey, Turkmenistan, Tuvalu, U.S. Virgin Islands, Uganda, Ukraine, United States Minor Outlying Islands, Uzbekistan, Vanuatu, Vatican, Venezuela, Vietnam, Western Sahara, Yemen, Zambia, Zimbabwe

All the Notes, irrespective of the Series in which they are issued, are linked to assets of the same nature and bear all the same or similar risks.

Investing in the Notes involves a high degree of risk and may result in the loss of your entire investment. Investors should review closely the investment objectives and familiarize themself with the inherent investment risks. 

Some, but not all of the risks are:

• Secondary market: Notes will have no established trading market when issued and none may ever develop. If a market does develop, it may not be liquid. Therefore, investors may not be able to sell their Notes easily or at prices that will provide them with a yield comparable to similar investments that have a developed secondary market. 
• No repayment obligation: Subject to the provisions on redemptions, the Investors should consider that the Notes do not carry a re-payment obligation and the only way to realise an investment may be to sell the Notes to another buyer.
• Risk of Bitcoin: The Notes will hold the Underlying which might be exposed to risks correlated with the value of Bitcoin. Bitcoin is a novel and unproven asset in a competitive market for investments. In contrast to other investment assets, with decades or indeed centuries of performance history, Bitcoin (and cryptocurrency more generally) has been in existence for a mere decade. Its long-term value is difficult to foresee. It could decline to zero and the network ceases to operate for any number of reasons or no reason at all.

Investing in Notes is not the same as making an investment or holding the Underlying of the Notes. The return from holding Notes may not be the same as the return from buying or holding the Underlying.

The value per Note will vary directly with the Reference Value of the Underlying. There is no guarantee that the Underlying will earn a return. Investment in the Issuer carries a high degree of risk which may result in investors losing all their invested capital. In addition, past performance does not guarantee future results.

You can do peer-to-peer trade of CMSTR on SideSwap. Both the sender and receiver must be whitelisted with STOKR.

To apply for CMSTR whitelisting, express your interest via the CMSTR information page. Following a review of your details, STOKR may grant or deny whitelist access for CMSTR.

The lowest denomination of the CMSTR Notes that can be transferred is 0.0001 CMSTR Note.

We ask for the Tax ID since this offering falls under specific reporting requirements. For example the Common Reporting Standard requires investors to provide more information on their tax status.

Your tax information will be disclosed to the Luxembourg tax authorities annually for tax compliance purposes required by the Common Reporting Standard implementation.