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Syon Securities 2020-2 DAC: 04 December 2020

This will be the third synthetic securitisation under the “Syon” transaction name, of owner-occupied residential mortgage loans originated by Bank of Scotland plc under the Halifax brand and Lloyds Bank plc, and secured over properties located in England, Wales and Scotland.

The transaction is designed for risk-transfer purposes and includes loans selected with loan-to-values higher than 85% and a high proportion of first-time buyers. The transaction is structured with the ability to add future originations. The initial reference portfolio represents £536.24 million (30%) of the maximum reference portfolio size of £1.78 billion, with the ramp-up reference portfolio comprising the remaining 70%.