LendingClub Corporation (NYSE:LC) Files An 8-K Other Events
Item 8.01
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Other Events.
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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.
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.
standard program loans for each of the Lending Club loan grades.
|
Loan Grade
|
|
Interest Rate
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|
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A1
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5.32
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%
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A2
|
|
7.07
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%
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|
A3
|
|
7.21
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%
|
|
A4
|
|
7.35
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%
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|
A5
|
|
7.97
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%
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|
B1
|
|
9.44
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%
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|
B2
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|
9.93
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%
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|
B3
|
|
10.42
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%
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|
B4
|
|
10.91
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%
|
|
B5
|
|
11.99
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%
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C1
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|
12.62
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%
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|
C2
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|
13.59
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%
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|
C3
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|
14.08
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%
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C4
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|
15.05
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%
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C5
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|
16.02
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%
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|
D1
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|
17.09
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%
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D2
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18.06
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%
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D3
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|
19.03
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%
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|
D4
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20.00
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%
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D5
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21.45
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%
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|
E1
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|
22.91
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%
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|
E2
|
|
23.88
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%
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|
E3
|
|
24.85
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%
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|
E4
|
|
25.82
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%
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|
E5
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|
26.30
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%
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|
F1
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|
28.72
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%
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|
F2
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|
29.69
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%
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|
F3
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|
30.17
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%
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|
F4
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|
30.65
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%
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|
F5
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|
30.75
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%
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|
G1
|
|
30.79
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%
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|
G2
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|
30.84
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%
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|
G3
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|
30.89
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%
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|
G4
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|
30.94
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%
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|
G5
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|
30.99
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%
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Performing Loans of Each Loan Grade
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:
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the reduction in the annual return due to Lending Club’s
1.00% servicing fee on both interest and principal payments; and |
servicing fee.
|
Loan
Grade
|
|
Interest
Rate
|
|
Reduction in
Note Return
due to 1.00%
Servicing Fee*
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|
Note Returns After
Lending Club’s
Servicing Fee
|
|
A1
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5.32%
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0.67%
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4.65%
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A2
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7.07%
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0.68%
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6.39%
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A3
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7.21%
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0.68%
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6.53%
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|
A4
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7.35%
|
|
0.68%
|
|
6.67%
|
|
A5
|
|
7.97%
|
|
0.68%
|
|
7.29%
|
|
B1
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|
9.44%
|
|
0.69%
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|
8.75%
|
|
B2
|
|
9.93%
|
|
0.69%
|
|
9.24%
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|
B3
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10.42%
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|
0.69%
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|
9.73%
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|
B4
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10.91%
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0.69%
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|
10.22%
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B5
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11.99%
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0.70%
|
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11.29%
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C1
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12.62%
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0.70%
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|
11.92%
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|
C2
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|
13.59%
|
|
0.70%
|
|
12.89%
|
|
C3
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|
14.08%
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|
0.71%
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|
13.37%
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|
C4
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15.05%
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0.71%
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14.34%
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C5
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16.02%
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0.71%
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15.31%
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D1
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17.09%
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0.72%
|
|
16.37%
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D2
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18.06%
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|
0.72%
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|
17.34%
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|
D3
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|
19.03%
|
|
0.73%
|
|
18.30%
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|
D4
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20.00%
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|
0.73%
|
|
19.27%
|
|
D5
|
|
21.45%
|
|
0.74%
|
|
20.71%
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|
E1
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22.91%
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|
0.74%
|
|
22.17%
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|
E2
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23.88%
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0.75%
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23.13%
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E3
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24.85%
|
|
0.75%
|
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24.10%
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|
E4
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25.82%
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0.76%
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25.06%
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E5
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26.30%
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0.76%
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25.54%
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F1
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28.72%
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0.77%
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27.95%
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F2
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29.69%
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0.78%
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28.91%
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F3
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30.17%
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0.78%
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29.39%
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|
F4
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30.65%
|
|
0.78%
|
|
29.87%
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|
F5
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30.75%
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0.78%
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29.97%
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|
G1
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30.79%
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0.78%
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|
30.01%
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|
G2
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30.84%
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0.78%
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|
30.06%
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|
G3
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30.89%
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0.78%
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30.11%
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G4
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30.94%
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0.78%
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30.16%
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G5
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30.99%
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0.78%
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30.21%
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contractual cashflows; no charge-off losses or prepayments are
projected over the loans life that would otherwise affect the loans
projected cashflows.
|
Loan Grade
|
|
Interest Rate
|
|
Reduction in Note Return due to 1.00% Servicing Fee*
|
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Note Returns After Lending Club’s Servicing Fee
|
|
A1
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5.32%
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0.41%
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4.91%
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A2
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7.07%
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|
0.42%
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|
6.65%
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|
A3
|
|
7.21%
|
|
0.42%
|
|
6.79%
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|
A4
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|
7.35%
|
|
0.42%
|
|
6.93%
|
|
A5
|
|
7.97%
|
|
0.42%
|
|
7.55%
|
|
B1
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|
9.44%
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|
0.43%
|
|
9.01%
|
|
B2
|
|
9.93%
|
|
0.43%
|
|
9.50%
|
|
B3
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|
10.42%
|
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0.43%
|
|
9.99%
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|
B4
|
|
10.91%
|
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0.44%
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10.47%
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|
B5
|
|
11.99%
|
|
0.44%
|
|
11.55%
|
|
C1
|
|
12.62%
|
|
0.44%
|
|
12.18%
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|
C2
|
|
13.59%
|
|
0.45%
|
|
13.14%
|
|
C3
|
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14.08%
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|
0.45%
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13.63%
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|
C4
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|
15.05%
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0.45%
|
|
14.60%
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|
C5
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16.02%
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|
0.46%
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|
15.56%
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|
D1
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17.09%
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|
0.46%
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|
16.63%
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D2
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18.06%
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0.47%
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|
17.59%
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|
D3
|
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19.03%
|
|
0.47%
|
|
18.56%
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|
D4
|
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20.00%
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|
0.48%
|
|
19.52%
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|
D5
|
|
21.45%
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|
0.48%
|
|
20.97%
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|
E1
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22.91%
|
|
0.49%
|
|
22.42%
|
|
E2
|
|
23.88%
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|
0.50%
|
|
23.38%
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|
E3
|
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24.85%
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|
0.50%
|
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24.35%
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|
E4
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25.82%
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|
0.51%
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25.31%
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E5
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26.30%
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0.51%
|
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25.79%
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F1
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28.72%
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|
0.52%
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28.20%
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F2
|
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29.69%
|
|
0.53%
|
|
29.16%
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F3
|
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30.17%
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|
0.53%
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29.64%
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F4
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30.65%
|
|
0.53%
|
|
30.12%
|
|
F5
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30.75%
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|
0.53%
|
|
30.22%
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|
G1
|
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30.79%
|
|
0.53%
|
|
30.26%
|
|
G2
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30.84%
|
|
0.53%
|
|
30.31%
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|
G3
|
|
30.89%
|
|
0.53%
|
|
30.36%
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|
G4
|
|
30.94%
|
|
0.53%
|
|
30.41%
|
|
G5
|
|
30.99%
|
|
0.53%
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30.46%
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contractual cashflows; no charge-off losses or prepayments are
projected over the loans life that would otherwise affect the loans
projected cashflows.
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.