Document Sample
					    TERMSHEET                                                            CALLABLE DAILY RANGE
                                                                         ACCRUAL NOTE
                                                                         SSPA DESIGNATION: CAPITAL PROTECTION PRODUCT
                                                                         WITH COUPON

                                                                        +41 (0)58 283 78 88 or

Callable Daily Range Accrual Notes offer 100% capital protection on maturity plus the accumulation of attractive daily coupon
payments, on which the reference interest rate (underlying) is listed within the predetermined spread. The Callable Daily Range
Accrual Notes can be paid back prematurely.

Issuer                                   Vontobel Financial Products Ltd., DIFC Dubai
Lead Manager                             Bank Vontobel AG, Zurich
Calculation Agent                        Bank Vontobel AG, Zurich
Guarantor                                Vontobel Holding AG, Zurich

Underlying                               CHF 3-Months LIBOR Interest Rate

Issue price                              100%
Redemption price                         100%
Nominal                                  CHF 1'000.00 or a multiple
Initial fixing                           February 22, 2008
Payment date                             February 28, 2008
Last trading date                        February 22, 2013 (12:00 hours CET)
Final Fixing                             February 22, 2013
Repayment date                           February 28, 2013 depending on the early termination right
Premature termination                    The issuer has the right to terminate the Callable Daily Range Accrual Note prematurely
                                         (termination date), but the earliest six months after the initial fixing date, and thereafter
                                         on each coupon payment date. The Callable Daily Range Accrual Note will then be repaid at
                                         the redemption price. Any such termination shall be announced at least five business days
                                         prior to the termination date.
Swiss Sec. Number / ISIN                 379 1465 / CH0037914659
Telekurs symbol                          VON8EG

Coupon calculation                       Coupon rate * n/360
                                         n represents the number of days for which the underlying was fixed within the spread
                                         during the coupon period (underlying > lower barrier and underlying < upper barrier). The
                                         spread is defined in terms of the following lower and upper barriers.

                                            Coupon period         Lower barrier     Upper barrier           Coupon rate

                                                  1-2                 none              none           4.00% p.a. guaranteed
                                                  3-20                 0%              3.50%                 4.00% p.a.

Bank Vontobel AG, Gotthardstrasse 43, 8022 Zürich: Derivative Products, Tel. +41 (0)58 283 78 88, Fax +41 (0)58 283 57 67
Banque Vontobel Genève SA, Place de l’Université 6, 1205 Genève: Produits dérivés, Tél. +41 (0)22 809 91 91, Fax +41 (0)22 809 90 99
TERMSHEET                                                                                                                                                     SEITE 2

                                                   The observation period for the underlying during the first coupon period begins on the
                                                   payment date, for all following coupon periods it begins on the coupon payment date of
                                                   the previous coupon period. Each observation period ends five business days before the
                                                   expiry of the current coupon period. If there is no fixing of the underlying on a particular
                                                   day during an observation period, then the fixing of the previous day is used in the
                                                   calculation. On days beginning five business days prior to the expiry of each coupon period,
                                                   the fixing of the underlying at the end of the observation period is taken into account.
Coupon payments                                    Quarterly, payment at the end of the coupon period, i.e. yearly on February 28, May 28.
                                                   August 28, November 28, resp. on the following bank working day, first time on May 28,
Basis                                              30/360, modified following, adjusted
Calendar                                           Zurich for coupon payments, London for underlying fixing

Investment currency                                CHF
Issue amount                                       CHF 30'000'000.00, the size may be increased anytime
Taxes                                              The coupon payments are subject to the income tax for private investors in Switzerland.
                                                   No Swiss withholding tax, no stamp duties at issuance (primary market). For Swiss stamp
                                                   duty purpose, the product is treated as analogous to a bond. Therefore, secondary market
                                                   transactions are in principle subject to Swiss stamp duty (TK22).
                                                   For Swiss paying agents this product is subject to the EU taxation of savings income in the
                                                   form of interest payments. (TK 3)
                                                   The aforementioned taxes are valid at the time of launch of this issue. The relevant tax
                                                   laws or regulations of the tax authorities may change any time.
Price setting                                      The accrued interests are already comprised in price of the product.
Secondary market                                   The secondary market is guaranteed for the entire duration of the product
Clearing/Settlement                                SIS SegaIntersettle, Euroclear, Clearstream
Sales Restrictions                                 USA, US Persons, DIFC Dubai and United Kingdom
Listing                                            Applied for in the main segment of the SWS Swiss Exchange.
Opportunities/risks                                Callable Daily Range Accrual Notes give investors the opportunity to achieve attractive
                                                   coupons as well as 100% capital repayment.
                                                   The risk of a Callable Daily Range Accrual Note investment means that the capital
                                                   protection is only guaranteed at the end of the term on the redemption date or termination
                                                   date. During the term the value of the Range Accrual Note can fall below the redemption
                                                   price. No interest is accumulated for any day on which the underlying is fixed outside the
                                                   spread. Callable Daily Range Accrual Notes can be repaid prematurely by the issuer.
                                                   The value of structured products may depend not only on the performance of the
                                                   underlying, but also on the creditworthiness of the issuer/guarantor. The investor is
                                                   exposed to the risk of default on the part of the issuer/guarantor.
Notice                                             The product is not a collective investment within the meaning of the Federal Act on
                                                   Collective Investment Schemes (KAG); it is under no approval obligation and is not
                                                   supervised by the Swiss Federal Banking Commission (EBK).
Publication of notices                             All notices to investors regarding products and changes in product conditions (because of
                                                   corporate actions, for example) are published at; under the rules relating to
                                                   IBL (Internet Based Listing), notices concerning products quoted on the SWX are also
                                                   published at Term Sheets are generally not amended.
The original version of this term sheet is in German; versions in other languages are non-binding translations.
This term sheet does neither constitute a Listing Prospectus in the sense of the Listing Regulation nor an Issuing Prospectus in the sense of Art. 652a and/or 1156 OR. The
alone relevant complete conditions as well as the detailed risk references to this product are contained in the appropriate Listing prospectus.
The Listing prospectus can be ordered free of charge at the Bank Vontobel AG, Financial Products Documentation, Dreikönigstrasse 37, 8022 Zurich (Tel.: 058 283 78 88) or
We would be glad to answer any questions you may have concerning our products on +41 (0)58 283 78 88 from 08.00-20.15 CET on bank workdays. Please note that all
conversations on this line are recorded. By calling, we assume that you agree to this business practice.
The list and details provided do not represent a recommendation on the specified underlying security; they are for informative purposes only and under no circumstances are
they to be used or considered as an offer to sell or a solicitation of any offer to buy any financial instrument. No responsibility is assumed for the completeness and accuracy
of the information provided herein. The information provided herein is not meant as a substitute for a consultation with your house bank which we consider indispensable
prior to entering any kind of derivatives transaction. Transactions of this nature should only be conducted once investors are fully aware of the risks involved and are in a
position to bear the possible related financial losses. Furthermore, we refer to our brochure «Special Risks in Securities Trading», which we will send you free of charge on
Zürich, February 22, 2008

Bank Vontobel AG, Gotthardstrasse 43, 8022 Zürich: Derivative Products, Tel. +41 (0)58 283 78 88, Fax +41 (0)58 283 57 67
Banque Vontobel Genève SA, Place de l’Université 6, 1205 Genève: Produits dérivés, Tél. +41 (0)22 809 91 91, Fax +41 (0)22 809 90 99

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