Globaldrive Auto Receivables 2014-A B.V. (incorporated under the laws of The Netherlands with its corporate seat in Amsterdam)

Size: px
Start display at page:

Download "Globaldrive Auto Receivables 2014-A B.V. (incorporated under the laws of The Netherlands with its corporate seat in Amsterdam)"

Transcription

1 Before you purchase any notes, be sure you understand the structure and the risks. You should consider carefully the risk factors beginning on page 12 of this prospectus. The notes will be obligations of the issuer only and will not be obligations of or interests in FCE Bank plc or any of its affiliates. 516,300, Globaldrive Auto Receivables 2014-A B.V. (incorporated under the laws of The Netherlands with its corporate seat in Amsterdam) The issuer will issue: FCE Bank plc Seller and Servicer Principal Amount Issue Price Interest Rate Final Legal Maturity Date Class A notes ,000, % 1 month EURIBOR+ 0.35% 20 April 2022 Class B notes... 16,300, % 1.305% 20 April 2022 Class C notes... 27,199, % 5.00% 20 April 2022 Total ,499, The notes will be backed by a pool of new, ex-demonstration and used car and light commercial vehicle loan receivables originated in Germany by FCE Bank plc, through its German branch. The issuer will pay interest and principal on the notes on the 20th day of each month (or, if not a business day, the next business day). The first payment date will be 20 June The issuer will pay each class of notes in full on its final legal maturity date (or if not a business day, the next business day) if not paid in full prior to such date. The issuer will pay principal sequentially to each class of notes in order of seniority until each class is paid in full. The Class A notes and Class B notes are being offered by this prospectus outside the United States to non U.S. persons as defined in Regulation S under the U.S. Securities Act of 1933, as amended in reliance on Regulation S. The Class A notes and the Class B notes are referred to as the "listed notes". The Class C notes are not offered. The credit enhancement for the notes will be a reserve account, subordination and excess spread. The issuer will enter into an interest rate swap to hedge the interest rate risk on the Class A notes. This prospectus has been approved by the Central Bank of Ireland or the "Central Bank" as competent authority under Directive 2003/71/EC, as amended by Directive 2010/73/EU, together the "Prospectus Directive". The Central Bank only approves this prospectus as meeting the requirements imposed under Irish and EU law pursuant to the Prospectus Directive. Application will be made to the Irish Stock Exchange plc for the listed notes to be admitted to the official list and trading on its regulated market. Such approval relates only to the listed notes which are to be admitted to trading on the regulated market of the Irish Stock Exchange or other regulated markets for the purposes of the Markets in Financial Instruments Directive 2004/39/EC or which are to be offered to the public in any Member State of the European Economic Area or "EEA". This document constitutes a prospectus for the purposes of the Prospectus Directive. The listed notes will be issued in registered form and in the denominations of 100,000 and integral multiples of 1,000 in excess of 100,000, up to and including 199,000. Interests in each of the Class A notes and Class B notes will be represented by an unrestricted global registered note each, a "global note", without interest coupons attached. The global note representing the Class A notes will be deposited on the closing date with Euroclear Bank S.A./N.V., or "Euroclear" which will act as the common safekeeper for the Class A notes for Clearstream Banking société anonyme, Luxembourg, or "Clearstream, Luxembourg" and Euroclear. The global note representing the Class B notes will be deposited on or around the closing date with Deutsche Bank AG, London Branch as common depositary for Clearstream, Luxembourg and Euroclear. Except in certain limited circumstances, the global notes will not be exchangeable for unrestricted registered definitive notes, or "definitive notes", and no definitive notes will be issued with a denomination above 199,000. Each of the Class A global notes will be issued under the NSS. The Class A notes are intended to be held in a manner which will allow Eurosystem eligibility, as described in this prospectus. Bank of America Merrill Lynch Joint Arrangers and Joint Lead Managers for the Class A notes and the Class B notes Barclays HSBC Lloyds The date of this prospectus is 22 May 2014

2 IMPORTANT NOTICE ABOUT INFORMATION IN THIS PROSPECTUS THE NOTES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION IN THE UNITED STATES OR ANY OTHER U.S. REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL. THE NOTES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR THE "SECURITIES ACT" OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THE NOTES MAY NOT BE OFFERED OR SOLD DIRECTLY OR INDIRECTLY WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITES ACT) EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE OR LOCAL SECURITIES LAWS AND UNDER CIRCUMSTANCES DESIGNED TO PRECLUDE THE ISSUER FROM HAVING TO REGISTER UNDER THE U.S. INVESTMENT COMPANY ACT OF 1940, AS AMENDED, OR THE "INVESTMENT COMPANY ACT". THE NOTES WILL ONLY BE OFFERED AND SOLD OUTSIDE THE UNITED STATES TO NON U.S. PERSONS PURSUANT TO THE REQUIREMENTS OF REGULATION S UNDER THE SECURITIES ACT. THERE IS NO UNDERTAKING TO REGISTER THE NOTES UNDER STATE OR FEDERAL SECURITIES LAW IN THE UNITED STATES. THE NOTES CANNOT BE SOLD IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS UNLESS THEY ARE SUBSEQUENTLY REGISTERED OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT IS AVAILABLE. This prospectus provides information about Globaldrive Auto Receivables 2014-A B.V. and the terms of the notes to be issued by the issuer. You should rely only on information provided or referenced in this prospectus. This prospectus begins with a transaction overview setting out: Transaction Structure Diagram illustrates the structure of this securitisation transaction, including the credit enhancement available to the notes, Sources of Funds Diagram illustrates the interest and principal collections available to the issuer of this securitisation transaction, Priority of Payments Diagram describes the priority of payments for this securitisation transaction, Transaction Parties and Documents Diagram illustrates the role that each transaction party and each transaction document plays in this securitisation transaction, and Overview of the notes describes the main terms of the notes, the assets of the issuer, the cash flows in this securitisation transaction and the credit enhancement available to the notes. The risk factors section describes the most significant risks of investing in the notes. The other sections of this prospectus contain more detailed descriptions of the notes and the structure of this securitisation transaction. Cross-references refer you to more detailed descriptions of a particular topic or related information elsewhere in this prospectus. The table of contents on page (vi) contains references to key topics. An index of defined terms is at the end of this prospectus. For the purposes of this prospectus, "Bank of America Merrill Lynch" means "Merrill Lynch International". This prospectus has been prepared by the issuer and may not be copied or used for any purpose other than for your evaluation of an investment in the notes. ii

3 The delivery of this prospectus at any time does not imply that the information in this prospectus is correct as at any time subsequent to its date. The issuer accepts responsibility for the information contained in this prospectus. To the best of the knowledge and belief of the issuer (which has taken all reasonable care to ensure that such is the case) the information contained in this prospectus is in accordance with the facts and contains no omission likely to affect the import of such information. FCE Bank plc or "FCE" accepts responsibility for the information contained in the sections entitled "Seller and Servicer" and "Receivables". To the best of the knowledge and belief of FCE (which has taken all reasonable care to ensure that such is the case) the information contained in the sections entitled "Seller and Servicer" and "Receivables" is in accordance with the facts and contains no omission likely to affect the import of such information. Lloyds Bank plc accepts responsibility for the information with respect to itself contained in the section entitled "Swap Counterparty". To the best of the knowledge and belief of Lloyds Bank plc (which has taken all reasonable care to ensure that such is the case) the information with respect to itself contained in the section entitled "Swap Counterparty" is in accordance with the facts and contains no omission likely to affect the import of such information. Deutsche Bank AG, London Branch accepts responsibility for the information with respect to itself contained in the section entitled "Account Bank and Cash Manager". To the best of the knowledge and belief of Deutsche Bank AG, London Branch (which has taken all reasonable care to ensure that such is the case) the information with respect to itself contained in the section entitled "Account Bank and Cash Manager" is in accordance with the facts and contains no omission likely to affect the import of such information. The notes are obligations solely of the issuer and are not obligations of, are not guaranteed by and are not the responsibility of any other entity. In particular, the notes are not the obligations of, are not guaranteed by and are not the responsibility of any of FCE, the joint arrangers, the joint lead managers, the swap counterparty, the cash manager, the account bank, the paying agents, the security trustee, the collateral agent or the trustee. The information contained in this prospectus with respect to FCE, the swap counterparty, the cash manager and the account bank relates to and has been obtained from each of them, respectively. The delivery of this prospectus will not create any implication that there has been no change in the activity of FCE, the swap counterparty, the cash manager or the account bank since the date of this prospectus or that the information contained or referred to in it is correct as at any time subsequent to its date. The information provided by FCE, the swap counterparty, the cash manager and the account bank to the issuer has been accurately reproduced and, as far as the issuer is aware, and is able to ascertain from information provided, no facts have been omitted that would render the reproduced information inaccurate or misleading. The issuer has taken no steps to verify independently this information. No person has been authorised in connection with the issue, offering, subscription or sale of the notes to give any information or to make any representation not contained in this prospectus and, if given or made, such information or representation must not be relied upon as having been authorised by or on behalf of the issuer, the directors of the issuer or FCE. Purchasers of the notes should conduct such independent investigation and analysis regarding the issuer, FCE, the swap counterparty, the receivables and the notes as they deem appropriate to evaluate the merits and risks of an investment in the notes. FCE, the joint arrangers, the joint lead managers, the swap counterparty, the cash manager, the account bank, the paying agents, the security trustee, the collateral agent and the trustee make no representation, recommendation or warranty, express or implied, regarding the accuracy, adequacy, reasonableness or completeness of the information contained in this prospectus or in any further information, notice or other document which may at any time be supplied by the issuer in connection with the notes and accept no responsibility or liability therefore. None of FCE, the joint arrangers, the joint lead managers, the swap counterparty, the cash manager, the account bank, the paying agents, the security trustee, the iii

4 collateral agent or the trustee will review the financial position or activity of the issuer while the notes are outstanding nor will advise any investor or potential investor in the notes of any information coming to its attention. Nothing in this prospectus constitutes an offer of securities for sale or the solicitation of an offer to buy the securities of the Issuer in the United States or any other jurisdiction where it is unlawful to do so. The notes have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended, or "Securities Act", or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, "U.S. persons", as defined in Regulation S under the Securities Act, or "Regulation S", except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state or local securities laws and under circumstances designed to preclude the issuer from having to register under the U.S. Investment Company Act of 1940, as amended, or the "Investment Company Act". No action has been taken by the issuer, the joint arrangers or the joint lead managers, other than as set out in this prospectus that would permit a public offering of the notes, or possession or distribution of this prospectus or any other offering material in any country or jurisdiction where action for that purpose is required. Accordingly, no notes may be offered or sold, directly or indirectly, and neither this prospectus, nor any part of this prospectus, nor any information memorandum, offering circular, form of application, advertisement or other offering materials may be issued, distributed or published in any country or jurisdiction except in compliance with applicable laws, orders, rules and regulations, and the issuer, the joint arrangers and the joint lead managers have represented that all offers and sales by them have been made on such terms. Other than the approval of the Central Bank of this prospectus as a prospectus in accordance with the Prospectus Directive, no action has been or will be taken to permit a public offering of the notes or the distribution of this prospectus in any jurisdiction. This prospectus may only be used for the purposes for which it has been published. This prospectus does not constitute or form part of an offer to sell or the solicitation of an offer to buy any securities other than the securities to which it relates or an offer to sell or the solicitation of any offer to buy any of the securities offered by this prospectus in any circumstances in which such offer, solicitation or sale is not permitted. The distribution of this prospectus and the offering and sale of the notes in certain jurisdictions may be restricted by law. Persons into whose possession this prospectus comes are required by the issuer and the joint lead managers to inform themselves about and to observe any such restrictions. This prospectus does not constitute, and may not be used for, or in connection with, an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not authorised or to any person to whom it is not permitted to make such offer or solicitation. For a further description of certain restrictions on offerings and sales of the notes and distribution of this prospectus you should read "Subscription and Sale". If you are in any doubt about the contents of this prospectus you should consult your advisers. An investment in the notes is only suitable for financially sophisticated investors who are capable of evaluating the merits and risks of such investment and who have sufficient resources to be able to bear any losses that may result from such investment. It should be remembered that the price of securities and the income from them may decrease. In connection with the issue and distribution of the Class A notes and the Class B notes, Lloyds Bank plc (in such capacity, the "stabilising manager") or any person acting on behalf of the stabilising manager may over allot Class A notes and/or the Class B notes or effect transactions with a view to supporting the market price of the Class A notes and/or the Class B notes at a level higher than that which might otherwise prevail. However, there is no assurance that the stabilising manager or any person acting on behalf of the stabilising manager will carry out stabilisation action. Any stabilisation action may begin on or after the date on which adequate public disclosure of the terms of the offer of the Class A notes and the Class B notes is made and, if begun, may be ended at any time, but it must end no later than the earlier of 30 days after the closing date of the Class A notes and the Class B notes and 60 days after the date of the allotment of the Class A notes and the Class B notes. Any stabilisation action or iv

5 over allotment must be conducted by the stabilising manager or any person acting on behalf of the stabilising manager in accordance with all applicable laws and rules. FORWARD-LOOKING STATEMENTS Any projections, expectations and estimates contained in this prospectus are not purely historical in nature but are forward-looking statements based upon information and certain assumptions FCE and the issuer consider reasonable, subject to uncertainties as to circumstances and events that have not as yet taken place and are subject to material variation. Neither FCE nor the issuer has any obligation to update or otherwise revise any forward-looking statements, including statements regarding changes in economic conditions, portfolio or asset pool performance or other circumstances or developments that may arise after the date of this prospectus. v

6 TABLE OF CONTENTS Transaction Overview...1 Risk Factors...12 Receivables...31 Retail Auto Loan Receivables...31 Criteria for Selection of the Receivables...33 Composition of the Receivables...33 Loan-to-value...42 Seller and Servicer...43 General...43 Securitisation Experience...43 FCE Bank plc's German Retail Automotive Finance Business...43 Origination and Underwriting...44 Servicing and Collections...47 Retained Interest...51 Historical Performance Information...51 Static Pool Information Prior Securitised Pools...51 Vintage Originations...51 Total Portfolio...51 Account Bank and Cash Manager...55 Swap Counterparty...56 Issuer...57 Description of the Notes...59 Principal Transaction Documents...66 Receivables Sale Agreement...66 Servicing Agreement...68 Cash Management Agreement...71 Issuer's Bank Accounts...72 Security Deed of Charge / Collateral Agency Agreement...73 Data Custody Agreement...74 Swap Agreement...74 Credit Enhancement...77 Reserve Account...77 Subordination...78 Excess Spread...78 Maturity and Prepayment Considerations...79 General...79 Prepayments...79 Weighted Average Life of the Notes...80 Use of Proceeds...84 Servicing Reports...84 Some Important Legal Considerations...85 Restriction on Assignment...85 Termination of Loan Agreements...85 Recharacterisation of Fixed Security Interest...85 Risk of Claw Back...86 Validity of Contractual Priorities of Payments...86 Basel Capital Accord and Regulatory Capital Requirements...87 Rating Agencies...89 Banking Act Banking Reform Act Consumer protection...91 Taxation...93 Subscription and Sale Purchase of the Notes Selling Restrictions General Information Index of Defined Terms Annex A: Terms and Conditions of the Notes...A-1 Annex B: Static Pool Information Prior Securitised Pools...B-1 Annex C: Vintage Originations Information...C-1 vi

7 TRANSACTION OVERVIEW Transaction Structure Diagram The following diagram provides a simplified overview of the structure of this securitisation transaction and the credit enhancement available for the notes. You should read this prospectus in its entirety for a more detailed description of this securitisation transaction. FCE Bank plc (seller) 543,499, (1) of receivables Globaldrive Auto Receivables 2014-A B.V. (issuer) (5) (6) Notes Reserve Account (2) Excess Spread (3) Interest Rate Swap (4) 15,898, ,000, A notes Deferred 16,300, B notes Purchase 27,199, C notes Price (7) (1) (2) (3) (4) (5) (6) (7) The aggregate net present value of the receivables as at the cut-off date. For a more detailed description of the aggregate net present value of the receivables you should read "Receivables Composition of the Receivables". The reserve account will be funded on the closing date. No later than the payment date falling in October 2016, the seller will deposit an additional amount of 924, into the reserve account. Excess spread is available, as a component of available interest collections, to replenish the reserve account (if required), to absorb losses on the receivables and to make required principal payment on the notes. Each month on a net basis, the issuer will pay % and receive one-month EURIBOR on a notional amount equal to the principal amount outstanding of the Class A notes under the swap agreement. All available interest collections and swap counterparty receipts remaining after payment of the fees and expenses of the issuer (including the servicing fee) and any net payments under the swap agreement will be used first to pay interest on the Class A notes and thereafter to pay interest on the remaining notes, in accordance with the priority of payments. All available principal collections will be used first to pay principal on the Class A notes and thereafter to pay principal on the remaining notes, in accordance with the priority of payments. For a more detailed description of the priorities of payment, you should read "Overview of the notes Priority of Payments". All notes other than the Class C notes benefit from subordination of more junior classes to more senior classes. The subordination varies depending on whether interest or principal is being paid and on whether or not an event of default that results in acceleration has occurred. For a more detailed description of subordination within the transaction you should read "Overview of the notes Priority of Payments" and "Overview of the notes Credit Enhancement Subordination". The seller will be entitled to receive the deferred purchase price on the receivables which represents the right to all funds not needed to pay fees and expenses of the issuer, to make payments under the swap agreement, to make required payments on the notes, to fund the reserve account or to make payments of reimbursed losses and principal deficiencies in accordance with the priorities of payment. 1

8 Sources of Funds Diagram The following diagram shows the sources of funds available to make payments on each payment date. Seller Servicer Swap Counterparty Collections: borrower payments insurance proceeds rebates of terminated payment protection insurance premiums vehicle sale proceeds recoveries Amounts paid to indemnify or repurchase receivables due to breach of representations and warranties Any amounts paid to indemnify or purchase receivables due to breach of servicing obligations Any net amounts received under the interest rate swap Split into available interest collections and available principal collections, including the reserve account draw, if any, to be paid in accordance with the relevant priority of payments For a more detailed description of available collections, you should read "Description of the Notes". 2

9 Priority of Payments Diagram The following diagram shows how payments from available collections are made on each payment date. This priority will apply unless the notes are accelerated after an event of default. Available interest collections Available principal collections Issuer's expenses (other than the servicing fee) up to a maximum amount of 250,000 per annum. Principal on the Class A notes until paid in full Principal on the Class B notes until paid in full Servicing fees Principal on the Class C notes until paid in full Net swap payments, including swap termination payments, except for subordinated swap termination payments Any remaining available principal collections to the seller as deferred purchase price Interest due on the Class A notes Interest due on the Class B notes Amount, if any, required to replenish the reserve account Payment of reimbursed losses and principal deficiencies Subordinated swap termination payments Issuer's expenses payable to the extent not paid above Interest due on the Class C notes Any remaining available interest collections to the seller as deferred purchase price For a more detailed description of the priority of payments prior to the acceleration of the notes after an event of default, you should read "Description of the Notes" and "Annex A: Terms and Conditions of the Notes". 3

10 Transaction Parties and Documents Diagram The following diagram shows the role of each transaction party and the obligations that are governed by each transaction document in this securitisation transaction. FCE Bank plc (seller) RECEIVABLES SALE AGREEMENT the seller sells receivables to the issuer in exchange for the initial purchase price and the deferred purchase price the seller makes representations to the issuer about the receivables and repurchases ineligible receivables RECEIVABLES SERVICING AGREEMENT AND CASH MANAGEMENT AGREEMENT FCE appointed servicer and receives the servicing fee the servicer provides information on the receivables and prepares monthly servicing reports the servicer will purchase any servicer impaired receivables Deutsche Bank AG, London Branch appointed cash manager and receives the cash management fee the cash manager will administer transaction funds, based on the information provided by the servicer ISSUER CORPORATE SERVICES AGREEMENT Deutsche International Trust Company N.V. appointed administrator of the issuer and will perform administrative duties of the issuer Globaldrive Auto Receivables 2014-A B.V. (issuer) INTEREST RATE SWAP AGREEMENT Lloyds Bank plc acts as swap counterparty to the issuer TRUST DEED, DEED OF CHARGE AND COLLATERAL AGENCY AGREEMENT the notes are constituted by the trust deed the trustee applies available amounts to pay expenses of the issuer and make payments on the notes in accordance with the priorities of payment the receivables and all other German law governed assets of the issuer are assigned or transferred to the collateral agent to secure the notes all English law governed assets of the issuer are charged or assigned to the security trustee to secure the notes Deutsche Trustee Company Limited appointed trustee, security trustee and collateral agent NOTE SUBSCRIPTION AGREEMENTS the issuer sells the Class A notes and the Class B notes to the joint lead managers the joint lead managers will purchase the Class A notes and the Class B notes and offer them to investors the Class C notes will be purchased by FCE BANK ACCOUNT OPERATION AGREEMENT Deutsche Bank AG, London Branch appointed account bank and provides account services for the distribution account, the reserve account and the counterparty downgrade collateral account DATA CUSTODY AGREEMENT Deutsche Bank Luxembourg S.A. appointed data agent for borrower information Joint Lead Managers for the Class A notes and Class B notes Investors 4

11 Overview of the notes This overview must be read as an introduction to this prospectus and any decision to invest in the notes should be based on a consideration of the prospectus as a whole. This overview describes the main terms of the offering of and payments on the notes, the assets of the issuer, the cash flows in this securitisation transaction and the credit enhancement available to each class of notes. It does not contain all of the information that you should consider in making your investment decision. To understand fully the terms of the notes and the transaction structure, you should read this entire prospectus, especially "Risk Factors" beginning on page 12. Transaction Overview The issuer will use the net proceeds from the sale of the notes to purchase from FCE Bank plc a pool of rights to amounts payable under German law governed retail auto loan agreements, or "receivables", that were originated in Germany by FCE through motor vehicle dealers. The issuer will issue the notes on the closing date. Transaction Parties Issuer Globaldrive Auto Receivables 2014-A B.V. Seller and Servicer FCE Bank plc, or "FCE" Trustee, Security Trustee and Collateral Agent Deutsche Trustee Company Limited Account Bank, Cash Manager, Principal Paying Agent and Calculation Agent Deutsche Bank AG, London Branch Registrar and Data Agent Deutsche Bank Luxembourg S.A. Swap Counterparty Lloyds Bank plc Issuer Corporate Service Provider Deutsche International Trust Company N.V. For more information about the transaction parties, you should read "Transaction Parties". Closing Date The issuer expects to issue the notes on 28 May 2014, the "closing date". Cut-off Date The issuer will be entitled to collections on the receivables applied after 30 April 2014, the "cut-off date". Notes The issuer will issue the following classes of notes: Principal Amount Interest Rate Class A notes 500,000, month EURIBOR % Class B notes 16,300, % Class C notes 27,199, % The Class A notes, the Class B notes and the Class C notes are referred to as the "notes". The Class A notes and the Class B notes offered by this prospectus will be subscribed for by Barclays Bank PLC, HSBC Bank plc, Lloyds Bank plc and Merrill Lynch International as joint lead managers, as more particularly described in the section entitled "Subscription and Sale". The Class C notes will be purchased by FCE. Payment Dates The issuer will pay interest and principal on the notes on "payment dates", which will be the 20th day of each month (or, if not a business day, the next business day). The first payment date will be 20 June The Class A notes will accrue interest on an "actual/360" basis from the preceding payment date (or from the closing date, for the first period) to the following payment date and the 5

Globaldrive Auto Receivables 2013-A B.V. (incorporated under the laws of The Netherlands with its corporate seat in Amsterdam)

Globaldrive Auto Receivables 2013-A B.V. (incorporated under the laws of The Netherlands with its corporate seat in Amsterdam) Before you purchase any notes, be sure you understand the structure and the risks. You should consider carefully the risk factors beginning on page 12 of this prospectus. The notes will be obligations

More information

Globaldrive Auto Receivables 2015-A B.V. (incorporated under the laws of The Netherlands with its corporate seat in Amsterdam)

Globaldrive Auto Receivables 2015-A B.V. (incorporated under the laws of The Netherlands with its corporate seat in Amsterdam) Before you purchase any notes, be sure you understand the structure and the risks. You should consider carefully the risk factors beginning on page 12 of this prospectus. The notes will be obligations

More information

487,650,000.00. Arranger and Lead Manager for the Class A Notes. Deutsche Bank. The issuer will issue:

487,650,000.00. Arranger and Lead Manager for the Class A Notes. Deutsche Bank. The issuer will issue: The issuer will issue: 487,650,000.00 Globaldrive Auto Receivables 2009-C B.V. (a private company incorporated under the laws of The Netherlands with its corporate seat in Amsterdam) FCE Bank plc Seller

More information

CHF25,000,000 Class H-7C1 Fairway Series 1 (Omega Capital Europe p.l.c. Series 23) Secured 5 per cent Notes due 2013 Issue price: 100 per cent.

CHF25,000,000 Class H-7C1 Fairway Series 1 (Omega Capital Europe p.l.c. Series 23) Secured 5 per cent Notes due 2013 Issue price: 100 per cent. PROSPECTUS DATED 17 JANUARY 2008 OMEGA CAPITAL EUROPE P.L.C. (a public limited company incorporated in Ireland) CHF25,000,000 Class H-7C1 Fairway Series 1 (Omega Capital Europe p.l.c. Series 23) Secured

More information

PROSPECTUS Hypo Real Estate Bank International AG, Stuttgart ESTATE US-1

PROSPECTUS Hypo Real Estate Bank International AG, Stuttgart ESTATE US-1 PROSPECTUS Hypo Real Estate Bank International AG, Stuttgart ESTATE US-1 USD 700,000 Class A1+ Floating Rate Amortising Credit-Linked Notes Issue Price: 100% USD 14,300,000 Class A2 Floating Rate Amortising

More information

This Information Memorandum has been prepared for use only in connection with Securities issued by the Issuer.

This Information Memorandum has been prepared for use only in connection with Securities issued by the Issuer. INFORMATION MEMORANDUM dated 4 November 2015 Argon Capital Public Limited Company (incorporated with limited liability in Ireland under registered number 351104) U.S.$50,000,000,000 Limited Recourse Secured

More information

Arranger Deutsche Bank AG, London Branch

Arranger Deutsche Bank AG, London Branch OFFERING CIRCULAR DATED 24 MARCH 2011 GLOBAL BOND SERIES VI, S.A. (a public limited liability company (société anonyme), incorporated under the laws of the Grand Duchy of Luxembourg, having its registered

More information

$1,000,000,000 CarMax Auto Owner Trust 2015-1

$1,000,000,000 CarMax Auto Owner Trust 2015-1 PROSPECTUS SUPPLEMENT (To Prospectus dated February 9, 2015) $1,000,000,000 CarMax Auto Owner Trust 2015-1 Issuing Entity or Trust Initial Principal Amount Interest Rate Final Scheduled Distribution Date

More information

AFME / ESF Prospectus for UK Auto Loan Transaction. As of December 2012 [NAME OF ISSUER]

AFME / ESF Prospectus for UK Auto Loan Transaction. As of December 2012 [NAME OF ISSUER] AFME / ESF Prospectus for UK Auto Loan Transaction As of December 2012 [NAME OF ISSUER] (incorporated in England and Wales with limited liability under registered number ) Notes Initial Principal Amount

More information

Chase Issuance Trust. Chase Bank USA, National Association

Chase Issuance Trust. Chase Bank USA, National Association Prospectus dated August 8, 2011 Chase Issuance Trust Issuing Entity Chase Bank USA, National Association Sponsor, Depositor, Originator, Administrator and Servicer The issuing entity You should consider

More information

ICE GLOBAL CREDIT (DCAM) FUND LIMITED

ICE GLOBAL CREDIT (DCAM) FUND LIMITED ICE GLOBAL CREDIT (DCAM) FUND LIMITED (incorporated with limited liability in Ireland with registration number 544525) USD 2,000,000,000 Asset Backed Pass Through Notes due 30 July 2045 On 3 September

More information

CITIFIRST PRODUCT PROGRAMME. Citibank International plc. Arranger

CITIFIRST PRODUCT PROGRAMME. Citibank International plc. Arranger CITIFIRST PRODUCT PROGRAMME Citibank International plc Arranger Citigroup Global Markets Limited BASE PROSPECTUS FOR THE ISSUANCE OF SECURITIES THIS DOCUMENT COMPRISES A BASE PROSPECTUS FOR THE PURPOSES

More information

Prospectus Supplement to Prospectus dated June 28, 2007

Prospectus Supplement to Prospectus dated June 28, 2007 Prospectus Supplement to Prospectus dated June 28, 2007 $1,221,700,000 Student Loan-Backed Notes, Series 2007-A Chase Education Loan Trust 2007-A Issuing Entity Collegiate Funding of Delaware, L.L.C. Depositor

More information

$900,000,000 Nissan Master Owner Trust Receivables

$900,000,000 Nissan Master Owner Trust Receivables Prospectus Supplement (To accompanying Prospectus dated January 26, 2015) $900,000,000 Nissan Master Owner Trust Receivables Issuing Entity Nissan Wholesale Receivables Corporation II, Nissan Motor Acceptance

More information

Initial Principal Amount

Initial Principal Amount Prospectus Supplement to Prospectus Dated February 20, 2015 You should review carefully the factors described under Risk Factors beginning on page S-19 of this prospectus supplement and page 13 in the

More information

Open Joint Stock Company Gazprom

Open Joint Stock Company Gazprom EXECUTION COPY FINAL TERMS DATED 9 APRIL 2008 Open Joint Stock Company Gazprom Series 17 U.S.$1,100,000,000 8.146 per cent. Loan Participation Notes due 11 April 2018 issued by, but with limited recourse

More information

IMPORTANT NOTICE IMPORTANT:

IMPORTANT NOTICE IMPORTANT: IMPORTANT NOTICE IMPORTANT: You must read the following disclaimer before continuing. The following disclaimer applies to the Base Prospectus (the Base Prospectus ) attached to this electronic transmission

More information

PROSPECTUS. SC Germany Auto 2009-1 Limited (incorporated with limited liability in Ireland)

PROSPECTUS. SC Germany Auto 2009-1 Limited (incorporated with limited liability in Ireland) PROSPECTUS SC Germany Auto 2009-1 Limited (incorporated with limited liability in Ireland) 945,000,000 Class A Floating Rate Notes due March 2019 Issue Price: 100 % 55,000,000 Class B Floating Rate Notes

More information

Bank of America, National Association Sponsor, Servicer and Originator. BA Credit Card Funding, LLC Transferor and Depositor

Bank of America, National Association Sponsor, Servicer and Originator. BA Credit Card Funding, LLC Transferor and Depositor Prospectus Dated November 20, 2015 Bank of America, National Association Sponsor, Servicer and Originator The issuing entity BA Credit Card Funding, LLC Transferor and Depositor BA Credit Card Trust Issuing

More information

Base Prospectus Ipanema Capital p.l.c. 40,000,000,000 Programme for the issue of Notes Issuer Notes Programme Base Prospectus Prospectus Directive

Base Prospectus Ipanema Capital p.l.c. 40,000,000,000 Programme for the issue of Notes Issuer Notes Programme Base Prospectus Prospectus Directive Base Prospectus Ipanema Capital p.l.c. (incorporated as a public limited company in Ireland with registered number 577640) 40,000,000,000 Programme for the issue of Notes It is intended that Ipanema Capital

More information

Chase Issuance Trust

Chase Issuance Trust The information in this prospectus is not complete and may be changed. This prospectus is not an offer to sell these securities and we are not seeking an offer to buy these securities in any state where

More information

Castle Hill Enhanced Floating Rate Opportunities Limited

Castle Hill Enhanced Floating Rate Opportunities Limited Castle Hill Enhanced Floating Rate Opportunities Limited (a private company with limited liability incorporated under the laws of Ireland, under company number 464395) Up to 2,000,000,000 Senior Secured

More information

FASTNET SECURITIES 2 PLC (incorporated in Ireland with limited liability under registered number 420155)

FASTNET SECURITIES 2 PLC (incorporated in Ireland with limited liability under registered number 420155) IMPORTANT NOTICE IMPORTANT: You must read the following before continuing. The following applies to the prospectus following this page (the Prospectus ), and you are therefore advised to read this carefully

More information

Malachite Funding Limited (incorporated with limited liability in the Cayman Islands) U.S.$5,000,000,000 Income Note Programme

Malachite Funding Limited (incorporated with limited liability in the Cayman Islands) U.S.$5,000,000,000 Income Note Programme IMPORTANT NOTICE The information contained in the electronic copy of the Base Prospectus attached hereto has been formatted in a manner which should exactly replicate the printed Base Prospectus; however,

More information

Arranger Deutsche Bank AG, London Branch

Arranger Deutsche Bank AG, London Branch OFFERING CIRCULAR DATED 3 MAY 2011 GLOBAL BOND SERIES IX, S.A. (a public limited liability company (société anonyme), incorporated under the laws of the Grand Duchy of Luxembourg, having its registered

More information

FIA Card Services, National Association. BA Credit Card Funding, LLC. BA Credit Card Trust

FIA Card Services, National Association. BA Credit Card Funding, LLC. BA Credit Card Trust Prospectus Supplement dated July 26, 2007 to Prospectus dated July 17, 2007 FIA Card Services, National Association Sponsor, Servicer and Originator BA Credit Card Funding, LLC Transferor and Depositor

More information

LIMA LS PLC. (a company incorporated in England and Wales with limited liability under registered number 7434324)

LIMA LS PLC. (a company incorporated in England and Wales with limited liability under registered number 7434324) LIMA LS PLC (a company incorporated in England and Wales with limited liability under registered number 7434324) USD650,000,000 Asset-Backed Securities due 2050 The USD650,000,000 Asset-Backed Securities

More information

Arrangers for the Programme

Arrangers for the Programme Yorkshire Building Society (incorporated in England and Wales under the Building Societies Act 1986, as amended) 7.5 billion Global Covered Bond Programme unconditionally and irrevocably guaranteed as

More information

estpac NZ Covered Bond Limited (incorporated with limited liability in New Zealand, company number 3201526)

estpac NZ Covered Bond Limited (incorporated with limited liability in New Zealand, company number 3201526) estpac Securities NZ Limited (acting through its London branch) (incorporated with limited liability in New Zealand company number 1859984) 5 billion Global Covered Bond Programme unconditionally guaranteed

More information

F. van Lanschot Bankiers N.V. (incorporated in the Netherlands with its statutory seat in 's-hertogenbosch)

F. van Lanschot Bankiers N.V. (incorporated in the Netherlands with its statutory seat in 's-hertogenbosch) 20 December 2012 FIFTH SUPPLEMENT TO THE BASE PROSPECTUS IN RESPECT OF THE EURO 5,000,000,000 DEBT ISSUANCE PROGRAMME F. van Lanschot Bankiers N.V. (incorporated in the Netherlands with its statutory seat

More information

INFORMATION MEMORANDUM dated 30 July 2014

INFORMATION MEMORANDUM dated 30 July 2014 INFORMATION MEMORANDUM dated 30 July 2014 Douro Finance B.V. (incorporated with limited liability in the Netherlands under registered number 55482643) EUR5,000,000,000 Limited Recourse Secured Debt Issuance

More information

TAURUS CAPITAL SA. Limited Recourse Securities Programme

TAURUS CAPITAL SA. Limited Recourse Securities Programme BASE PROSPECTUS TAURUS CAPITAL SA. (a public limited liability company (société anonyme) incorporated under the laws of the Grand Duchy of Luxembourg, having its registered office at 19, rue de Bitbourg

More information

Bank of America Student Loan Securitization Corporation Depositor. Bank of America, National Association Sponsor, Master Servicer and Administrator

Bank of America Student Loan Securitization Corporation Depositor. Bank of America, National Association Sponsor, Master Servicer and Administrator THIS OFFERING MEMORANDUM (THIS OFFERING MEMORANDUM ) IS BEING PROVIDED ONLY TO (1) QUALIFIED INSTITUTIONAL BUYERS ( QIBs ) AS DEFINED IN RULE 144A ( RULE 144A ) PROMULGATED UNDER THE SECURITIES ACT OF

More information

Pricing Supplement dated August 7, ROYAL BANK OF CANADA (a Canadian chartered bank)

Pricing Supplement dated August 7, ROYAL BANK OF CANADA (a Canadian chartered bank) IMPORTANT NOTICE In accessing the attached pricing supplement (the Pricing Supplement ) you agree to be bound by the following terms and conditions. The information contained in the Pricing Supplement

More information

Bavarian Sky S.A., acting in respect of its Compartment German Auto Loans 1

Bavarian Sky S.A., acting in respect of its Compartment German Auto Loans 1 Bavarian Sky S.A., acting in respect of its Compartment German Auto Loans 1 (a public company incorporated with limited liability as a "société anonyme" under the laws of Luxembourg with registered number

More information

STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LIMITED

STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LIMITED This document is issued by Standard Life Investments Property Income Trust Limited (the "Company") and is made available by Standard Life Investments (Corporate Funds) Limited (the AIFM ) solely in order

More information

555,119,911 Notes of DECO6-UKLarge Loan 2 plc

555,119,911 Notes of DECO6-UKLarge Loan 2 plc 555,119,911 Notes of DECO6-UKLarge Loan 2 plc (a public company incorporated with limited liability under the laws of England and Wales with registration number 5578222) Commercial Mortgage Backed Floating

More information

Citibank Credit Card Issuance Trust

Citibank Credit Card Issuance Trust PROSPECTUS SUPPLEMENT DATED JUNE 4, 2002 (to Prospectus dated June 4, 2002) Citibank Credit Card Issuance Trust $750,000,000 Floating Rate Class 2002-A4 Notes of June 2014 (Legal Maturity Date June 2016)

More information

INFORMATION MEMORANDUM

INFORMATION MEMORANDUM INFORMATION MEMORANDUM Issuer: German Mittelstand Equipment Finance SA, acting in respect of its Compartment 2 (a public company incorporated with limited liability as a société anonyme under the laws

More information

Neither the Issuer nor any Dealer has authorised, nor do they authorise, the making of any offer of Notes in any other circumstances.

Neither the Issuer nor any Dealer has authorised, nor do they authorise, the making of any offer of Notes in any other circumstances. Final Terms dated 20 May 2011 ING Bank N.V. Issue of a minimum of EUR 25,000,000 5 Year Floored Floater Notes due June 2016 issued pursuant to a 50,000,000,000 Global Issuance Programme The Base Prospectus

More information

Asset-Backed European Securitisation Transaction Three Plc (incorporated in England and Wales with limited liability under company number 5619633)

Asset-Backed European Securitisation Transaction Three Plc (incorporated in England and Wales with limited liability under company number 5619633) Asset-Backed European Securitisation Transaction Three Plc (incorporated in England and Wales with limited liability under company number 5619633) 256,870,000 Class A Asset Backed Floating Rate Notes due

More information

744,000,000 Class A Floating Rate Notes due August 2022, issue price: 100 % 56,000,000 Class B Fixed Rate Notes due August 2022, issue price: 100 %

744,000,000 Class A Floating Rate Notes due August 2022, issue price: 100 % 56,000,000 Class B Fixed Rate Notes due August 2022, issue price: 100 % Bavarian Sky S.A., acting in respect of its Compartment German Auto Loans 3 (a public company incorporated with limited liability as a "société anonyme" under the laws of Luxembourg with registered number

More information

Hartford Life Institutional Funding. Hartford Life Insurance Company

Hartford Life Institutional Funding. Hartford Life Insurance Company Final Terms No. 4 dated December 6, 2006 Hartford Life Institutional Funding Issue of 250,000,000 5.375% Notes due January 17, 2012 secured by one or more Funding Agreement(s) issued by Hartford Life Insurance

More information

Final Terms dated 25 June 2013. ROYAL BANK OF CANADA (a Canadian chartered bank)

Final Terms dated 25 June 2013. ROYAL BANK OF CANADA (a Canadian chartered bank) Final Terms dated 25 June 2013 ROYAL BANK OF CANADA (a Canadian chartered bank) Issue of USD 80,000,000 4.20 per cent. Fixed Rate Notes due 25 June 2038 under the Programme for the Issuance of Securities

More information

SCF RAHOITUSPALVELUT I DESIGNATED ACTIVITY COMPANY. (a designated activity company limited by shares incorporated under the laws of Ireland)

SCF RAHOITUSPALVELUT I DESIGNATED ACTIVITY COMPANY. (a designated activity company limited by shares incorporated under the laws of Ireland) SCF RAHOITUSPALVELUT I DESIGNATED ACTIVITY COMPANY (a designated activity company limited by shares incorporated under the laws of Ireland) Euro 338,700,000 Class A EURIBOR plus 0.45 per cent. Floating

More information

Lead Manager and Bookrunner HSBC

Lead Manager and Bookrunner HSBC Pricing Supplement dated May 11, 2011 HSBC Bank Brasil S.A. Banco Múltiplo (a sociedade por ações incorporated in the Federative Republic of Brazil) U.S.$3,000,000,000 Global Medium-Term Note Programme

More information

MERCURIO MORTGAGE FINANCE S.R.L.

MERCURIO MORTGAGE FINANCE S.R.L. Prospectus dated 27 January 2012 MERCURIO MORTGAGE FINANCE S.R.L. (incorporated with limited liability under the laws of the Republic of Italy) 7,005,000,000 Class A Residential Mortgage Backed Floating

More information

CB MezzCAP Limited Partnership (a limited partnership established under the laws of Jersey)

CB MezzCAP Limited Partnership (a limited partnership established under the laws of Jersey) PROSPECTUS CB MezzCAP Limited Partnership (a limited partnership established under the laws of Jersey) EUR 137,800,000 Class A Floating Rate Notes due 2036 EUR 20,000,000 Class B Floating Rate Notes due

More information

Prudential plc (incorporated with limited liability in England and Wales under the Companies Act 1985 with registered number 1397169)

Prudential plc (incorporated with limited liability in England and Wales under the Companies Act 1985 with registered number 1397169) DRAWDOWN PROSPECTUS DATED 13 DECEMBER 2013 Prudential plc (incorporated with limited liability in England and Wales under the Companies Act 1985 with registered number 1397169) as Issuer Issue of 700,000,000

More information

FINAL TERMS. 11 September 2012

FINAL TERMS. 11 September 2012 FINAL TERMS Capitalised words and expressions used in these Final Terms shall, save to the extent otherwise defined therein, have the meanings given thereto in the relevant Terms and Conditions and in

More information

GUARANTEED SENIOR SECURED NOTES PROGRAMME issued by. GOLDMAN SACHS INTERNATIONAL incorporated with unlimited liability in England, and guaranteed by

GUARANTEED SENIOR SECURED NOTES PROGRAMME issued by. GOLDMAN SACHS INTERNATIONAL incorporated with unlimited liability in England, and guaranteed by h GUARANTEED SENIOR SECURED NOTES PROGRAMME issued by GOLDMAN SACHS INTERNATIONAL incorporated with unlimited liability in England, and guaranteed by THE GOLDMAN SACHS GROUP, INC. a corporation organised

More information

Mansard Mortgages 2007-2 Plc (Incorporated in England and Wales under registered number 6357422)

Mansard Mortgages 2007-2 Plc (Incorporated in England and Wales under registered number 6357422) Mansard Mortgages 2007-2 Plc (Incorporated in England and Wales under registered number 6357422) Definitions of defined terms used in this Prospectus, which constitutes a Prospectus in compliance with

More information

DENALI CAPITAL CLO VII, LTD. DENALI CAPITAL CLO VII (DELAWARE) LLC

DENALI CAPITAL CLO VII, LTD. DENALI CAPITAL CLO VII (DELAWARE) LLC DENALI CAPITAL CLO VII, LTD. DENALI CAPITAL CLO VII (DELAWARE) LLC U.S.$150,000,000 Class A-1LR Variable Funding Notes Due January 2022 U.S.$482,000,000 Class A-1L Floating Rate Notes Due January 2022

More information

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE EXECUTION COPY Final Terms dated 16 May 2016 General Motors Financial International B.V. Issue of 500,000,000 1.168 per cent. Notes due 18 May 2020 under the 10,000,000,000 Euro Medium Term Note Programme

More information

DAVIS SQUARE FUNDING VII, LTD. (Incorporated with limited liability in the Cayman Islands) DAVIS SQUARE FUNDING VII (DELAWARE) CORP.

DAVIS SQUARE FUNDING VII, LTD. (Incorporated with limited liability in the Cayman Islands) DAVIS SQUARE FUNDING VII (DELAWARE) CORP. DAVIS SQUARE FUNDING VII, LTD. (Incorporated with limited liability in the Cayman Islands) DAVIS SQUARE FUNDING VII (DELAWARE) CORP. U.S. $ 20,000,000 Class S Floating Rate Notes Due 2015 U.S. $ 1,570,000,000

More information

NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR TO ANY PERSON OR ADDRESS IN THE U.S. IMPORTANT:

NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR TO ANY PERSON OR ADDRESS IN THE U.S. IMPORTANT: IMPORTANT NOTICE NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR TO ANY PERSON OR ADDRESS IN THE U.S. IMPORTANT: You must read the following notice before continuing. The following notice applies to the attached

More information

FINAL TERMS. Issue of US$594,839,000 6.250 per cent. Subordinated Notes due 2022 (the Notes )

FINAL TERMS. Issue of US$594,839,000 6.250 per cent. Subordinated Notes due 2022 (the Notes ) FINAL TERMS 21 April 2011 (incorporated in The Netherlands with its statutory seat in Amsterdam and registered in the Commercial Register of the Amsterdam Chamber of Commerce under number 34334259) Issue

More information

FINAL TERMS Final Terms dated 10 January 2011. Lloyds TSB Bank plc. Issue of 45,000,000 Series 2011-1 Fixed Rate Covered Bonds due 2031

FINAL TERMS Final Terms dated 10 January 2011. Lloyds TSB Bank plc. Issue of 45,000,000 Series 2011-1 Fixed Rate Covered Bonds due 2031 IMPORTANT NOTICE NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR TO ANY PERSON OR ADDRESS IN THE U.S. IMPORTANT: You must read the following before continuing. The following applies to the final terms attached

More information

Price to public $1,250,000,000 (or 100.00%) Underwriting discount $ 3,125,000 (or 0.25%) Proceeds to the issuance trust $1,246,875,000 (or 99.

Price to public $1,250,000,000 (or 100.00%) Underwriting discount $ 3,125,000 (or 0.25%) Proceeds to the issuance trust $1,246,875,000 (or 99. PROSPECTUS DATED JULY 8, 2009 Citibank Credit Card Issuance Trust Issuing Entity $1,250,000,000 Floating Rate Class 2009-A2 Notes of May 2012 (Legal Maturity Date May 2014) Citibank (South Dakota), National

More information

INDEX. Page. Directory 3. Important Notice 4. Background 6. The Waratah Structure 8. Summary of Terms 8. The Issuer 9. Commercial Paper Notes 9

INDEX. Page. Directory 3. Important Notice 4. Background 6. The Waratah Structure 8. Summary of Terms 8. The Issuer 9. Commercial Paper Notes 9 A$5,000,000,000 Asset Backed Commercial Paper Programme Servicing Agent & Sponsor Dealers Commonwealth Bank of Australia Macquarie Bank Limited Westpac Banking Corporation August 2009 INDEX Page Directory

More information

350,000,000 Non-cumulative Trust Preferred Securities (Liquidation Preference Amount of 50,000 per Trust Preferred Security)

350,000,000 Non-cumulative Trust Preferred Securities (Liquidation Preference Amount of 50,000 per Trust Preferred Security) Hypo Real Estate International Trust I Wilmington, Delaware, United States of America (a wholly-owned subsidiary of Hypo Real Estate Bank International AG, Stuttgart, Federal Republic of Germany) 350,000,000

More information

CAVENDISH OPPORTUNITY INVESTMENTS LIMITED

CAVENDISH OPPORTUNITY INVESTMENTS LIMITED 143,550,000 Series 1 Participating Notes due 2015 (the "Series 1 Participating Notes") issued pursuant to the Multi-Issuer Secured Note Programme (the Programme) CAVENDISH OPPORTUNITY INVESTMENTS LIMITED

More information

Capital Mortgage Series 2007-1

Capital Mortgage Series 2007-1 Cover - Page 1 INVESTORS REPORT - Payment Date: 31/10/2011 Capital Mortgage Series 2007-1 Euro 1,736,000,000 Class A1 Asset Backed Floating Rate Notes due January 2007 Euro 644,000,000 Class A2 Asset Backed

More information

Espírito Santo Investment p.l.c. Banco Espírito Santo de Investimento, S.A.

Espírito Santo Investment p.l.c. Banco Espírito Santo de Investimento, S.A. OFFERING CIRCULAR Espírito Santo Investment p.l.c. (incorporated with limited liability in Ireland) Banco Espírito Santo de Investimento, S.A. (incorporated with limited liability in the Republic of Portugal)

More information

SUPPLEMENT Davy Strategic Global Equity Fund

SUPPLEMENT Davy Strategic Global Equity Fund Davy Funds p.l.c. An open-ended umbrella investment company with variable capital and segregated liability between sub-funds incorporated with limited liability in Ireland under the Companies Acts 1963

More information

Aquila (Eclipse 2005-1) PLC - DEAL SUMMARY REPORT

Aquila (Eclipse 2005-1) PLC - DEAL SUMMARY REPORT Aquila (Eclipse 20051) PLC Aquila (Eclipse 20051) PLC DEAL SUMMARY REPORT Report Date 13 September 2012 Prior Report Date 14 June 2012 25 July 2012 14 December 2012 Pages Deal Overview 1 8 Individual Loan

More information

Final Terms. Dated 10 June 2016

Final Terms. Dated 10 June 2016 CONFORMED COPY Final Terms Dated 10 June 2016 TOYOTA FINANCE AUSTRALIA LIMITED (ABN 48 002 435 181) Issue of USD 175,000,000 Floating Rate Notes due 14 June 2017 under the 50,000,000,000 Euro Medium Term

More information

Discover Bank. Discover Card Execution Note Trust. Discover Card Master Trust I

Discover Bank. Discover Card Execution Note Trust. Discover Card Master Trust I PROSPECTUS SUPPLEMENT dated October 3, 2007 To Prospectus dated September 27, 2007 $1,250,000,000 Class A(2007-2) DiscoverSeries Notes Discover Bank Sponsor, Originator of Assets, Depositor, Seller and

More information

Hyundai Auto Receivables Trust 2007-A

Hyundai Auto Receivables Trust 2007-A PROSPECTUS SUPPLEMENT (To Prospectus Dated September 18, 2007) You should carefully read the risk factors, beginning on page S-14 of this prospectus supplement and page 7 of the prospectus. The securities

More information

HSBC Mutual Funds. Simplified Prospectus June 8, 2015

HSBC Mutual Funds. Simplified Prospectus June 8, 2015 HSBC Mutual Funds Simplified Prospectus June 8, 2015 Offering Investor Series, Advisor Series, Premium Series, Manager Series and Institutional Series units of the following Funds: HSBC Global Corporate

More information

DEUTSCHE POSTBANK AG, BONN. Fixed rate unsecured callable subordinated Notes of [ ]/ [ ] TERMS AND CONDITIONS. 1 (Denomination, Form and Delivery)

DEUTSCHE POSTBANK AG, BONN. Fixed rate unsecured callable subordinated Notes of [ ]/ [ ] TERMS AND CONDITIONS. 1 (Denomination, Form and Delivery) DEUTSCHE POSTBANK AG, BONN Fixed rate unsecured callable subordinated Notes of [ ]/ [ ] TERMS AND CONDITIONS 1 (Denomination, Form and Delivery) (1) The fixed rate unsecured callable subordinated notes

More information

CITIGROUP FUNDING INC. (incorporated under the laws of the State of Delaware) CITIGROUP INC.

CITIGROUP FUNDING INC. (incorporated under the laws of the State of Delaware) CITIGROUP INC. Base Prospectus CITIGROUP FUNDING INC. (incorporated under the laws of the State of Delaware) U.S.$15,000,000,000 Global Structured Note Programme unconditionally and irrevocably guaranteed by CITIGROUP

More information

$7,500,000,000 Medium Term Note Programme

$7,500,000,000 Medium Term Note Programme $7,500,000,000 Medium Term Note Programme (ultimately backed by trust property in the South Gyle Receivables Trust held by South Gyle Receivables Trustee Limited) Arran Funding (UK) Plc issuing entity

More information

Multi Express Certificate with Fix Coupon Linked to WTI Crude Oil & Gold Issued by UBS AG, London Branch

Multi Express Certificate with Fix Coupon Linked to WTI Crude Oil & Gold Issued by UBS AG, London Branch Multi Express Certificate with Fix Coupon Linked to WTI Crude Oil & Gold Issued by UBS AG, London Branch Cash settled EUSIPA Product Type: Express Certificate (1260) / ISIN: DE000UBS6DT2 Information on

More information

FINAL TERMS. Bank of Montreal

FINAL TERMS. Bank of Montreal FINAL TERMS THE COVERED BONDS HAVE NOT BEEN APPROVED OR DISAPPROVED BY CANADA MORTGAGE AND HOUSING CORPORATION (CMHC) NOR HAS CMHC PASSED UPON THE ACCURACY OR ADEQUACY OF THESE FINAL TERMS. THE COVERED

More information

$13,000,000,000 GLOBAL DEBT ISSUANCE PROGRAM

$13,000,000,000 GLOBAL DEBT ISSUANCE PROGRAM New York Life Global Funding $13,000,000,000 GLOBAL DEBT ISSUANCE PROGRAM New York Life Global Funding, a special purpose statutory trust organized in series under the laws of the State of Delaware (the

More information

13 March 2014 PART A CONTRACTUAL TERMS

13 March 2014 PART A CONTRACTUAL TERMS 13 March 2014 VOLVO TREASURY AB (publ) (the Issuer ) Issue of SEK 1,750,000,000 Fixed Rate Notes due 17 March 2016 guaranteed by AB Volvo (publ) (the Guarantor ) issued pursuant to the U.S.$15,000,000,000

More information

Bank of Ireland. Bank of Ireland UK Holdings plc

Bank of Ireland. Bank of Ireland UK Holdings plc OFFERING CIRCULAR 28 February 2001 Bank of Ireland Bank of Ireland UK Holdings plc (Incorporated with limited liability in Northern Ireland) 600,000,000 7.40 per cent. Guaranteed Step-up Callable Perpetual

More information

SKANDINAVISKA ENSKILDA BANKEN AB (publ)

SKANDINAVISKA ENSKILDA BANKEN AB (publ) 9 February 2016 SKANDINAVISKA ENSKILDA BANKEN AB (publ) Issue of EUR 1,500,000,000 0.15 per cent. Covered Bonds due 11 February 2021 under the Global Programme for the Continuous Issuance of Medium Term

More information

SUPPLEMENT Davy Cautious Growth Fund

SUPPLEMENT Davy Cautious Growth Fund Davy Funds p.l.c. An open-ended umbrella investment company with variable capital and segregated liability between sub-funds incorporated with limited liability in Ireland under the Companies Acts 1963

More information

PROSPECTUS SUPPLEMENT. $1,350,000,000 Santander Drive Auto Receivables Trust 2014-2. Santander Drive Auto Receivables LLC. Santander Consumer USA Inc.

PROSPECTUS SUPPLEMENT. $1,350,000,000 Santander Drive Auto Receivables Trust 2014-2. Santander Drive Auto Receivables LLC. Santander Consumer USA Inc. PROSPECTUS SUPPLEMENT (To Prospectus Dated April 10, 2014) $1,350,000,000 Santander Drive Auto Receivables Trust 2014-2 Issuing Entity Santander Drive Auto Receivables LLC Depositor Santander Consumer

More information

ADECCO S.A. (incorporated in Switzerland) (the Issuer ) CHF 125,000,000 2.625 per cent. Notes due 2020 (the Notes )

ADECCO S.A. (incorporated in Switzerland) (the Issuer ) CHF 125,000,000 2.625 per cent. Notes due 2020 (the Notes ) ADECCO S.A. (incorporated in Switzerland) (the Issuer ) CHF 125,000,000 2.625 per cent. Notes due 2020 (the Notes ) Issued under the EUR 2,000,000,000 Euro Medium Term Note Programme (the Programme ) The

More information

PROSPECTUS AQUARIUS + INVESTMENTS PLC. (the "Issuer") (incorporated with limited liability in Ireland)

PROSPECTUS AQUARIUS + INVESTMENTS PLC. (the Issuer) (incorporated with limited liability in Ireland) PROSPECTUS AQUARIUS + INVESTMENTS PLC (the "Issuer") (incorporated with limited liability in Ireland) Delaware Structured Finance Issuance, Inc. (the "Co-Issuer") (a corporation incorporated under the

More information

ACAS BUSINESS LOAN TRUST 2007-2

ACAS BUSINESS LOAN TRUST 2007-2 OFFERING MEMORANDUM [LOGO] ACAS BUSINESS LOAN TRUST 2007-2 U.S.$300,500,000 CLASS A FLOATING RATE ASSET BACKED NOTES DUE 2019 U.S.$37,500,000 CLASS B FLOATING RATE DEFERRABLE ASSET BACKED NOTES DUE 2019

More information

TwentyFour Global Investment Funds p.l.c.

TwentyFour Global Investment Funds p.l.c. TwentyFour Global Investment Funds p.l.c. An open-ended umbrella investment company with variable capital and segregated liability between sub-funds incorporated with limited liability in Ireland under

More information

Merrion Investment Trust (the Trust ) Merrion Technology Fund Series II SUPPLEMENT TO PROSPECTUS

Merrion Investment Trust (the Trust ) Merrion Technology Fund Series II SUPPLEMENT TO PROSPECTUS Merrion Investment Trust (the Trust ) An umbrella unit trust authorised pursuant to the Unit Trusts Act 1990 Merrion Technology Fund Series II (the Sub-Fund ) SUPPLEMENT TO PROSPECTUS 30 September 2015

More information

C1,192,021,267 Fleet Street Finance Two P.L.C.

C1,192,021,267 Fleet Street Finance Two P.L.C. C1,192,021,267 Fleet Street Finance Two P.L.C. (a public company incorporated with limited liability under the laws of Ireland with registration number 424459) C780,000,000 Class A Commercial Mortgage

More information

g 230,000,000 DePfa Bank Capital Funding Trust

g 230,000,000 DePfa Bank Capital Funding Trust g 230,000,000 DePfa Bank Capital Funding Trust (a subsidiary of DePfa Bank AG, Wiesbaden, Germany) 7.125% Noncumulative Trust Preferred Securities (Liquidation Preference Amount h 25 per Trust Preferred

More information

SECOND AMENDED AND RESTATED SUPPLEMENTAL TRUST DEED. April 7, 2016

SECOND AMENDED AND RESTATED SUPPLEMENTAL TRUST DEED. April 7, 2016 Execution Version SECOND AMENDED AND RESTATED SUPPLEMENTAL TRUST DEED April 7, 2016 (supplemental to the Trust Deed dated 2 July 2013, as amended on June 27, 2014, December 23, 2014 and June 24, 2015)

More information

ING Groep N.V. 7.20% ING Perpetual Debt Securities

ING Groep N.V. 7.20% ING Perpetual Debt Securities PROSPECTUS SUPPLEMENT (To prospectus dated July 1, 2002) $1,000,000,000 ING Groep N.V. 7.20% ING Perpetual Debt Securities We are issuing $1,000,000,000 aggregate principal amount of 7.20% ING Perpetual

More information