Sealane IV (Trade Finance) Ltd: 09 November 2018
A credit-linked note, where the following eligibility criteria will be applied to each reference obligation: unsubordinated obligations; no credit event shall have occurred; the country of domicile of the relevant reference entity is a Qualifying Country; the Reference Entity is not a Sovereign or an individual.
The initial portfolio will consist of 15,005 reference obligations (1,620 reference entities in 1,188 reference entity groups) with an average nominal amount of US$3.5bln. Product category: import loans 51.44%, export loans 25.98%, LC Issuance/Acceptance 9.54%, Bonds & Guarantees 8.16%, other 4.88%. Reference entity country or domicile: Hong Kong 16.83%, India 14.15%, China 12.10% and Singapore 9.58%. Industry group: Consumer goods 13.73%, Metals & Mining 10.64%, Beverage, food & tobacco 9.93%, High Tech Industries 9.65% and Chemicals, Plastics & Rubber 9.16%.
The Notes will not be rated by any rating agency.
EU Risk Retention: SCB undertakes that a member of the Standard Chartered Bank consolidated group will retain, at all times until the redemption of the Notes, a material net economic interest which shall in any event be not less than 5% of the nominal value of each Reference Obligation as contemplated by Article 405(1)(a) of the Capital Requirements Regulation, Article 51(1)(a) of the AIFM Regulation and Article 254(2)(a) of the Solvency II Regulation. Such holding will be achieved by the Relevant Financier holding the requisite amount of each Reference Obligation outside the Reference Portfolio.