HomeRecord Lion RMBS I

Record Lion RMBS I

Société d’investissement en créances institutionnelle de droit belge (Record Lion)

ATTENTION: Notes of Record Lion N.V. - S.A., institutionele vennootschap voor belegging in schuldvorderingen naar Belgisch recht / société d’investisment en créances institutionnelle de droit belge (Record Lion), acting through its Compartment Record Lion RMBS I, can only be acquired, held by and transferred to institutional investors or professional investors as described in article 5§3 of the Law of 20 July 2004 on certain types of collective management of investment portfolios, as amended or replaced (Institutional Investors) acting for their own account. Record Lion will suspend the payment of dividends or interests in relation to its securities of which it becomes aware that these are held by a person who is not an Institutional Investor acting for its own account.

Holders of securities of Record Lion willing to receive (free of charge) all published information by e-mail, should contact our Transaction Management Team at the following address: CPG-Transaction.Management@ing.be

On the Closing Date (and from time to time thereafter), Record Lion, acting through its compartment Record Lion RMBS I (the Issuer), purchases Belgian prime residential mortgage loans from Record Bank NV/SA. The Issuer finances the initial purchase through the issuance of Class A and B Notes.

 

CLASS A1

CLASS A2

CLASS B

Principal amount

EUR 928,250,000

EUR 1,115,500,000

EUR 645,500,000

Issue Price

100%

100%

100%

Credit Enhancement

subordination of Class B Notes and Reserve Account

subordination of Class B Notes and Reserve Account

Nil

Margin

1.45 per cent. p.a.

1.75 per cent. p.a.

3.00 per cent. p.a.

Interest Accrual

Act/360

Act/360

Act/360

Quarterly Payment Date

 

 

Interest will be payable quarterly in arrears on the twenty-fifth (25th) day of February, May, August and November of each year (or the first following Business Day if such day is not a Business Day, unless such day would fall in the next calendar month, in which case interest will be payable on the immediately preceding Business Day), commencing on the Quarterly Payment Date falling on 25  February 2012.

Principal payments

 

 

 

 

No scheduled amortisation. On the Quarterly Payment Date falling in February 2015 (the Mandatory Amortisation Date ) and on any Quarterly Payment Date thereafter, full sequential amortisation of the Notes (in order of seniority whereby Class B Notes will be subordinated to Class A Notes and as far as Class A Notes are concerned, prior to enforcement redemption of the Class A2 Notes will be subordinated to redemption of the Class A1 Notes) based on the Principal Available Amount. Prior to the Mandatory Amortisation Date, the Issuer has the option (but not the obligation, save as provided in Condition 2.10) to apply the Principal Available Amount on each Quarterly Payment Date towards redemption of the Notes in accordance with the Principal Priority of Payments.

Prepayments

 

Notes may be subject to voluntary and mandatory prepayment on any Quarterly Payment Date as described herein, with prepayments applied to the Notes in sequential order starting with the most senior Class of Notes then outstanding.

Optional Redemption Date

 

 

The Quarterly Payment Date falling in February 2017 (First Optional Redemption Date) and any Quarterly Payment Date thereafter

The Quarterly Payment Date falling in February 2017 (First Optional Redemption Date) and any Quarterly Payment Date thereafter

The Quarterly Payment Date falling in February 2017 (First Optional Redemption Date) and any Quarterly Payment Date thereafter

Denomination

EUR 250,000

EUR 250,000

EUR 250,000

Form

 

The Notes will be issued in the form of dematerialised notes under the Company Code and will be represented exclusively by book entries in the records of Clearing System operated by the National Bank of Belgium.

Listing

Euronext Brussels

Euronext Brussels

No

Expected Rating

 

DBRS               AAA

Moody’s           Aaa

DBRS               AAA

Moody’s           Aaa

 

ISIN

BE0002406784

BE0002407790

BE6228023410

Common Code

070460700

070460718

070460734

Prospectus

Further information can be found in the Prospectus.