Vasco Finance No.1: 02 October 2023

The source of funds for the payment of principal and interest on the Notes will be the right of the Issuer to receive payments in respect of the Receivables arising under the Credit Card Agreements originated by WiZink Bank SAU – Sucursal em Portugal.

The Receivables to be sold to the Issuer on the Closing Date and, thereafter, on each Additional Purchase Date, are credit card receivables arising from the drawings made by the Borrowers under the revolving facility granted to them by the Originator pursuant to the relevant Credit Card Agreements.

The Credit Card Agreements dated before 9 April 2018 were executed by the Borrowers with Wizink Portugal acting through BarclayCard Portugal, those dated before 11 November 2016 were executed with BarclayCard Portugal, those dated before November 2012 were executed with BarclayCard Portugal acting through Citibank Portugal and those dated before November 2009 were executed with Citibank Portugal.

All Credit Card Agreements have been entered into with an individual who was resident in Portugal at the time the relevant agreement was executed and who is the primary obligor thereunder.

EU & UK Risk Retention: The Originator will retain on an ongoing basis during the life of the transaction a material net economic interest of not less than 5% in the securitisation as required by Article 6(1) of the EU Securitisation Regulation and Article 6(1) of the UK Securitisation Regulation (as in effect at the Closing Date).

STS: The securitisation transaction is intended to qualify as a simple, transparent and standard securitisation under the Regulation (EU) no. 2017/2402 of the European Parliament and of the Council of 12 December 2017.

Compare/contrast: Purple Master Credit Cards (Series 2023-1), Newday Funding Master Issuer plc