LendingClub Corporation (NYSE:LC) Files An 8-K Other Events

ME Staff 8-k
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LendingClub Corporation (NYSE:LC) Files An 8-K Other Events

Item 8.01

Other Events.
Effective May 4, 2017, interest rates on the LendingClub
Corporation (“Lending Club”) platform are increasing by a
weighted average of 30 basis points, predominantly in loan grades
C and D with marginal changes across other grades.
In addition, Lending Club’s Chief Investment Officer released
his quarterly update, which can be accessed on Lending Club’s
blog at blog.lendingclub.com. The contents of this blog are not
incorporated into this filing.
Set forth below is a chart showing the interest rates assigned to
standard program loans for each of the Lending Club loan grades.
Loan Grade
Interest Rate
A1
5.32
%
A2
7.07
%
A3
7.21
%
A4
7.35
%
A5
7.97
%
B1
9.44
%
B2
9.93
%
B3
10.42
%
B4
10.91
%
B5
11.99
%
C1
12.62
%
C2
13.59
%
C3
14.08
%
C4
15.05
%
C5
16.02
%
D1
17.09
%
D2
18.06
%
D3
19.03
%
D4
20.00
%
D5
21.45
%
E1
22.91
%
E2
23.88
%
E3
24.85
%
E4
25.82
%
E5
26.30
%
F1
28.72
%
F2
29.69
%
F3
30.17
%
F4
30.65
%
F5
30.75
%
G1
30.79
%
G2
30.84
%
G3
30.89
%
G4
30.94
%
G5
30.99
%
Illustration of Servicing Fee and Annual Returns for Fully
Performing Loans of Each Loan Grade
The following tables illustrate hypothetical annual return
information with respect to our Member Payment Dependent Notes,
grouped by Lending Club grade and term. The information in these
tables is not based on actual results for investors and is
presented only to illustrate the effects of Lending Clubs 1.00%
servicing fee by grade on hypothetical annual Member Payment
Dependent Note returns. By column, each table presents:
loan grades;
the annual stated interest rate;
the reduction in the annual return due to Lending Club’s
1.00% servicing fee on both interest and principal payments;
and
the hypothetical annual returns on Notes, net of Lending Club’s
servicing fee.
Three Year Term
Loan
Grade
Interest
Rate
Reduction in
Note Return
due to 1.00%
Servicing Fee*
Note Returns After
Lending Club’s
Servicing Fee
A1
5.32%
0.67%
4.65%
A2
7.07%
0.68%
6.39%
A3
7.21%
0.68%
6.53%
A4
7.35%
0.68%
6.67%
A5
7.97%
0.68%
7.29%
B1
9.44%
0.69%
8.75%
B2
9.93%
0.69%
9.24%
B3
10.42%
0.69%
9.73%
B4
10.91%
0.69%
10.22%
B5
11.99%
0.70%
11.29%
C1
12.62%
0.70%
11.92%
C2
13.59%
0.70%
12.89%
C3
14.08%
0.71%
13.37%
C4
15.05%
0.71%
14.34%
C5
16.02%
0.71%
15.31%
D1
17.09%
0.72%
16.37%
D2
18.06%
0.72%
17.34%
D3
19.03%
0.73%
18.30%
D4
20.00%
0.73%
19.27%
D5
21.45%
0.74%
20.71%
E1
22.91%
0.74%
22.17%
E2
23.88%
0.75%
23.13%
E3
24.85%
0.75%
24.10%
E4
25.82%
0.76%
25.06%
E5
26.30%
0.76%
25.54%
F1
28.72%
0.77%
27.95%
F2
29.69%
0.78%
28.91%
F3
30.17%
0.78%
29.39%
F4
30.65%
0.78%
29.87%
F5
30.75%
0.78%
29.97%
G1
30.79%
0.78%
30.01%
G2
30.84%
0.78%
30.06%
G3
30.89%
0.78%
30.11%
G4
30.94%
0.78%
30.16%
G5
30.99%
0.78%
30.21%
* Impact of Note servicing fees is computed using the loans
contractual cashflows; no charge-off losses or prepayments are
projected over the loans life that would otherwise affect the loans
projected cashflows.
Five Year Term
Loan Grade
Interest Rate
Reduction in Note Return due to 1.00% Servicing Fee*
Note Returns After Lending Club’s Servicing Fee
A1
5.32%
0.41%
4.91%
A2
7.07%
0.42%
6.65%
A3
7.21%
0.42%
6.79%
A4
7.35%
0.42%
6.93%
A5
7.97%
0.42%
7.55%
B1
9.44%
0.43%
9.01%
B2
9.93%
0.43%
9.50%
B3
10.42%
0.43%
9.99%
B4
10.91%
0.44%
10.47%
B5
11.99%
0.44%
11.55%
C1
12.62%
0.44%
12.18%
C2
13.59%
0.45%
13.14%
C3
14.08%
0.45%
13.63%
C4
15.05%
0.45%
14.60%
C5
16.02%
0.46%
15.56%
D1
17.09%
0.46%
16.63%
D2
18.06%
0.47%
17.59%
D3
19.03%
0.47%
18.56%
D4
20.00%
0.48%
19.52%
D5
21.45%
0.48%
20.97%
E1
22.91%
0.49%
22.42%
E2
23.88%
0.50%
23.38%
E3
24.85%
0.50%
24.35%
E4
25.82%
0.51%
25.31%
E5
26.30%
0.51%
25.79%
F1
28.72%
0.52%
28.20%
F2
29.69%
0.53%
29.16%
F3
30.17%
0.53%
29.64%
F4
30.65%
0.53%
30.12%
F5
30.75%
0.53%
30.22%
G1
30.79%
0.53%
30.26%
G2
30.84%
0.53%
30.31%
G3
30.89%
0.53%
30.36%
G4
30.94%
0.53%
30.41%
G5
30.99%
0.53%
30.46%
* Impact of Note servicing fees is computed using the loans
contractual cashflows; no charge-off losses or prepayments are
projected over the loans life that would otherwise affect the loans
projected cashflows.
(S)


About LendingClub Corporation (NYSE:LC)

LendingClub Corporation (Lending Club) provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that is only available on a limited basis to large institutional investors. Its technology automates aspects of operations, including the borrower application process, data gathering, credit decisioning and scoring, loan funding, investing and servicing, regulatory compliance and fraud detection. Its platform offers analytical tools and data to enable investors to make decisions and assess their portfolios. Its technology platform has allowed it to expand its offerings from personal loans to include small business loans, and to expand investor classes from individuals to institutions and create various investment vehicles. Its solution offers an online application process and provides borrowers with access to live support and online tools.

LendingClub Corporation (NYSE:LC) Recent Trading Information

LendingClub Corporation (NYSE:LC) closed its last trading session up +0.05 at 6.09 with 9,145,013 shares trading hands.