Vasco Finance No.2: 22 October 2024

As per the previous Vasco transaction, 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.

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: Vasco Finance No.1, London Cards No.2 plc