Silverstone Master Issuer 2020-1: 07 February 2020

This will be the eleventh public issuance from Nationwide Building Society’s £35bln RMBS Master programme, of which five transactions are still currently outstanding. Including this issue, the aggregate principal amount of outstanding notes issued will be: Class A £5.850bln, Class Z £0.550bln.

The expected portfolio as at the cut-off date (30 November 2019) consisted of 158,456 loans originated by Nationwide and secured over properties located in England, Wales, Northern Ireland and Scotland having an aggregate true balance of £9.845bln as at that date. The average outstanding principal balance is £101,210 and the largest loan in the pool is for £988,231. Overall, there are 517 loans of at least £500,000, but these represent 1.94% of total outstandings.

Compare/contrast: Silverstone Master Issuer 2019-1, Fosse Master Issuer 2019-1