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Not an improvised weapon.
Yes, it can cut off a limb, if going through the joint. There are Spanish reports of their soldiers having the heads of their horses cut off by them on occasion.
The issue is that their blades shatter when hitting steel armor, rendering them sticks afterwards. Though, the one in the picture, albeit pretty, does not look properly made. These are fucking swords, not clubs with blades on them. I've seen the drawings of the originals' and some of the moves... Not a damned baseball bat.
On topic... Put a rock in a sock, or get a pointy stick. An improvised weapon is a temporary measure. I can kill a dozen people with a pen or two in under two minutes if they don't flee... But I'd rather have a nice piece of steel. Understand?