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RMS 22 · PDF file EURIBOR plus 0.16 per cent. per annum, in the case of the A2c Notes, 0.13 per cent. per annum until the Interest Payment Date falling in November 2013 and thereafter

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Text of RMS 22 · PDF file EURIBOR plus 0.16 per cent. per annum, in the case of the A2c Notes, 0.13...

  • Dated 5 July 2006 M-1640503-1

    RMS 22 Residential Mortgage Securities 22 Plc

    (Incorporated in England and Wales with limited liability under Registered Number 5812869) £100,000,000 Class A1a Mortgage Backed Floating Rate Notes due 2031

    U.S$320,000,000 Class A1b Mortgage Backed Floating Rate Notes due 2031 €64,400,000 Class A1c Mortgage Backed Floating Rate Notes due 2031 €116,200,000 Class A2c Mortgage Backed Floating Rate Notes due 2039 £207,600,000 Class A3a Mortgage Backed Floating Rate Notes due 2039 €105,000,000 Class A3c Mortgage Backed Floating Rate Notes due 2039 £43,300,000 Class M1a Mortgage Backed Floating Rate Notes due 2039 €15,000,000 Class M1c Mortgage Backed Floating Rate Notes due 2039 £11,000,000 Class M2a Mortgage Backed Floating Rate Notes due 2039 €22,400,000 Class M2c Mortgage Backed Floating Rate Notes due 2039 £15,000,000 Class B1a Mortgage Backed Floating Rate Notes due 2039 €13,100,000 Class B1c Mortgage Backed Floating Rate Notes due 2039 £16,000,000 Class B2 Mortgage Backed Floating Rate Notes due 2039 £12,550,000 Class C Mortgage Backed Floating Rate Notes due 2039

    Notes Initial Principal

    Amount Initial Interest

    Rate Maturity Date Issue Price to

    Investors

    Class A1a with Ordinary A1a Coupons, Detachable A1a-2009 Coupons and Detachable A1a-2011 Coupons £100,000,000 LIBOR + 0.08%1 2031

    100% plus a premium

    Class A1b with Ordinary A1b Coupons, Detachable A1b-2009 Coupons and Detachable A1b-2011 Coupons U.S.$320,000,000 USD LIBOR + 0.07%1 2031

    100% plus a premium

    Class A1c with Ordinary A1c Coupons, Detachable A1c-2009 Coupons and Detachable A1c-2011 Coupons €64,400,000 EURIBOR + 0.08%1 2031

    100% plus a premium

    Class A2c with Ordinary A2c Coupons, Detachable A2c-2009 Coupons and Detachable A2c-2011 Coupons €116,200,000 EURIBOR + 0.13%1 2039

    100% plus a premium

    Class A3a with Ordinary A3a Coupons, Detachable A3a-2009 Coupons and Detachable A3a-2011 Coupons £207,600,000 LIBOR + 0.18%1 2039

    100% plus a premium

    Class A3c with Ordinary A3c Coupons, Detachable A3c-2009 Coupons and Detachable A3c-2011 Coupons €105,000,000 EURIBOR + 0.18%1 2039

    100% plus a premium

    Class M1a £43,300,000 LIBOR + 0.30% 2039 100%

    Class M1c €15,000,000 EURIBOR +0.30% 2039 100%

    Class M2a £11,000,000 LIBOR + 0.50% 2039 100%

    Class M2c €22,400,000 EURIBOR +0.50% 2039 100%

    Class B1a £15,000,000 LIBOR +0.90% 2039 100%

    Class B1c €13,100,000 EURIBOR + 0.90% 2039 100%

    Class B2 £16,000,000 LIBOR + 3.75% 2039 100%

    Class C £12,550,000 LIBOR + 3.25% 2039 100%

    Mortgage Early Redemption Certificates N/A N/A 2039 N/A

    1 The Detachable A Coupons carry an additional right to interest (as referred to below) as provided for in Condition 4. The Detachable A1a-2009 Coupons, Detachable A1b- 2009 Coupons, Detachable A1c-2009 Coupons, Detachable A2c-2009 Coupons, Detachable A3a-2009 Coupons and Detachable A3c-2009 Coupons shall accrue interest from the Initial Issue Date and shall cease to pay interest on the earlier of the date on which relevant A Notes are redeemed in full or the Interest Payment Date in November 2009. The Detachable A1a-2011 Coupons, Detachable A1b-2011 Coupons, Detachable A1c-2011 Coupons, Detachable A2c-2011 Coupons, Detachable A3a-2011 Coupons and Detachable A3c-2011 Coupons will accrue interest from the Interest Payment Date in November 2009 and shall cease to pay interest on the earlier of the date on which relevant A Notes are redeemed in full or the Interest Payment Date in November 2011.

    ABN AMRO BARCLAYS CAPITAL Credit Suisse Morgan Stanley The Royal Bank of Scotland WestLB AG

  • M-1640503-1

    The Mortgage Backed Floating Rate Notes due 2031 and 2039 of Residential Mortgage Securities 22 plc (the “Issuer” will comprise £100,000,000 Class A1a Notes (the “A1a Notes”), U.S.$320,000,000 Class A1b Notes (the “A1b Notes”), €64,400,000 Class A1c Notes (the “A1c Notes” and, together with the A1a Notes and the A1b Notes, the “A1 Notes”), €116,200,000 Class A2c Notes (the “A2c Notes” or “A2 Notes”, £207,600,000 Class A3a Notes (the “A3a Notes”), €105,000,000 Class A3c Notes (the “A3c Notes” and, together with the A3a Notes, the “A3 Notes” and the A3 Notes together with the A1 Notes and the A2 Notes, the “A Notes”), £43,300,000 Class M1a Notes (the “M1a Notes”), €15,000,000 Class M1c Notes (the “M1c Notes” and together with the M1a Notes, the “M1 Notes”), £11,000,000 Class M2a Notes (the “M2a Notes”), €22,400,000 Class M2c Notes (the “M2c Notes” and, together with the M2a Notes, the “M2 Notes” and the M2 Notes together with the M1 Notes, the “M Notes”), and £15,000,000 Class B1a Notes (the “B1a Notes”), €13,100,000 Class B1c Notes (the “B1c Notes”, and together with the B1a Notes, the “B1 Notes”), £16,000,000 Class B2 Notes (the “B2 Notes” and together with the B1 Notes, the “B Notes”) and £12,550,000 Class C Notes (the “C Notes” and, together with the A Notes, the M Notes and the B Notes, the “Notes” and the holders thereof the “Noteholders”).

    Application has been made to the Irish Financial Services Regulatory Authority (“IFSRA”), as competent authority under Directive 2003/71/EC, for this Prospectus to be approved. Application has been made to the Irish Stock Exchange Limited (the “Irish Stock Exchange”) for the Notes and the MERCs (as defined below) to be admitted to the official list (the “Official List”) and trading on its regulated market. Copies of this document will be available at the specified office set out below of the Issuer and each of the Agents (as defined herein).

    Interest is payable on the Notes (as defined above) on the 14th day in November 2006 and thereafter quarterly in arrear on the 14th day in February, May, August and November in each year (subject to adjustment for non- Business Days) (each an “Interest Payment Date”). Interest is payable on each Interest Payment Date:

    (i) on the A1a Notes and the A3a Notes:

    (a) at an annual rate of the London Interbank Offered Rate (“LIBOR”) for three month sterling deposits (“Note LIBOR”) or, in the case of the first Interest Period, at an annual rate obtained upon interpolation of Note LIBOR for four month and five month sterling deposits (“Sterling Interpolation”) plus, in the case of the A1a Notes, 0.08 per cent. per annum until the Interest Payment Date falling in November 2013 and thereafter at an annual rate of Note LIBOR plus 0.16 per cent. per annum and in the case of the A3a Notes, 0.18 per cent. per annum until the Interest Payment Date falling in November 2013 and thereafter at an annual rate of Note LIBOR plus 0.36 per cent. per annum (the “Ordinary A1a Coupons” and “Ordinary A3a Coupons” respectively);

    (b) (1) from the Initial Issue Date until the Interest Payment Date falling in November 2009, at an annual rate of 1.35 per cent. per annum in the case of the A1a Notes and the A3a Notes (calculated on the Principal Amount Outstanding thereof) (the “Detachable A1a-2009 Coupons” and “Detachable A3a-2009 Coupons” respectively) and (2) from the Interest Payment Date falling in November 2009 until the Interest Payment Date falling in November 2011, at an annual rate of 1.35 per cent. per annum in the case of the A1a Notes and the A3a Notes (calculated on the Principal Amount Outstanding thereof) (the “Detachable A1a-2011 Coupons” and “Detachable A3a-2011 Coupons” respectively, the Detachable A1a-2009 Coupons together with the Detachable A1a-2011 Coupons being the “Detachable A1a Coupons”; the Detachable A3a-2009 Coupons together with the Detachable A3a-2011 Coupons being the “Detachable A3a Coupons”);

  • M-1640503-1

    (ii) on the A1b Notes:

    (a) at an annual rate of LIBOR for deposits in U.S. dollars (“USD LIBOR”) for three month dollar deposits (“Note USD LIBOR”) or, in the case of the first Interest Period (as defined below), at an annual rate obtained upon interpolation of four month and five month USD LIBOR plus, in the case of the A1b Coupons, 0.07 per cent. per annum until the Interest Payment Date falling in November 2013 and thereafter Note USD LIBOR plus 0.14 per cent. per annum (the “Ordinary A1b Coupons”); and

    (b) (1) from the Initial Issue Date until the Interest Payment Date falling in November 2009, at an annual rate of 1.35 per cent. per annum in the case of the A1b Notes (calculated on the Sterling Equivalent of the Principal Amount Outstanding thereof) (the “Detachable A1b-2009 Coupons”) and (2) from the Interest Payment Date falling in November 2009 until the Interest Payment Date falling in November 2011, at an annual rate of 1.35 per cent. per annum in the case of the A1b Notes (calculated on the Sterling Equivalent of the Principal Amount Outstanding thereof) (the “Detachable A1b-2011 Coupons”), the Detachable A1b-2009 Coupons together with the Detachable A1b-2011 Coupons being the “Detachable A1b Coupons”.

    (iii) on the A1c Notes, the A2c Notes and the A3c Notes:

    (a) at an annual rate of the Eurozone Interbank Offered Rate (“EURIBOR”) for three month Euro deposits (“Note EURIBOR”) or, in the case of the first Interest Period, at an annual rate obtained upon interpolation of Note EURIBOR for four month and five month Euro deposits (“EURIBOR Interpolation”) plus in the case of the A1c Notes, 0.08 per cent. per annum until the Interest Payme

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