EMF-NL 2008-2 B.V.
THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION
This notice is made pursuant to the Act on Financial Supervision (Wet op het financieel toezicht).
If you are in any doubt as to the action you should take, you are recommended to seek your own financial, legal or other advice immediately from your stockbroker, bank manager, solicitor, accountant or other appropriately authorised independent financial adviser.
Capitalised terms used herein have the meanings defined or construed in the Master Definitions Agreement entered into by the Issuer in connection with the issue of the Notes on 23 May 2008 as amended and restated.
EMF-NL Prime 2008-A B.V.
(the "
Issuer
")
Notice is hereby given with respect to notes of each of the following class(es):
EUR 110,000,000 Class A2 Mortgage Backed Floating Rate Notes due April 2041,
ISIN: XS0362465535 / US26868QAB41
EUR 10,000,000 Class A3 Mortgage Backed Floating Rate Notes due April 2041,
ISIN: XS0362465881 / US26868QAC24
EUR 12,000,000 Class B Mortgage Backed Floating Rate Notes due April 2041,
ISIN: XS0362466186/US26868QAD07
EUR 9,000,000 Class C Mortgage Backed Floating Rate Notes due April 2041,
ISIN: XS0362466269/US26868QAE89
EUR 9,000,000 Class D Mortgage Backed Floating Rate Notes due April 2041,
ISIN: XS0362466772
( the "Put Option Notes" and each class of Notes, a "Class of Put Option Notes" and the holders thereof the "Put Option Noteholders" )
Amsterdam, 8 November 2013
Notice is hereby given by the Issuer that in accordance with the Terms and Conditions of the Notes, each Put Option Noteholder has the option (a " Put Option " ) to offer any or all of the Put Option Notes held by it to the Issuer for redemption on the Quarterly Instruments Payment Date falling on 17 January 2014 (the " Put Option Date " ) and provided that there is no Principal Deficiency on any Class of Put Option Notes, in accordance with the provisions of the Note Condition 5(f).
To exercise the Put Option the Put Option Noteholder must during the period starting on 8 November 2013 and ending on 3 December 2013, give notice to the Issuer and the Principal Paying Agent of such exercise through its custodian and in accordance with the standard procedures of Euroclear and Clearstream, Luxembourg (which may include notice being given on his instruction by Euroclear or Clearstream, Luxembourg to the Principal Paying Agent by electronic means) in a form acceptable to Euroclear and Clearstream, Luxembourg from time to time.
The Issuer informs the Put Option Noteholders that there is a Principal Deficiency on the Class D Notes, which form part of the Put Option Notes. In accordance with the Terms and Conditions of the Notes with respect to each Put Option Date where there is a Principal Deficiency on any Class of Put Option Notes, the Issuer will not redeem any of the Put Option Notes that have been offered for redemption.
In order to avoid that the Put Option Notes of the Put Option Noteholders who wish to exercise the Put Option would unnecessarily be blocked for trading, it has been decided that these Put Option Notes will not be blocked. Lehman Brothers International (Europe) or any company belonging to the same group of companies as Lehman Brothers International (Europe) holding any Put Option Notes does not have the right to exercise the Put Option.
In accordance with the Note Condition 5, the Relevant Margin for each Class of Put Option Notes shall remain unchanged at the then-current margin (as set out in the following table) and the Reserve Fund Required Amount shall be increased to the Notes Principal Amount Outstanding of the Put Option Notes outstanding as at the immediately preceding Quarterly Instruments Payment Date.
|
Class of Notes |
Relevant Margin |
|
Class A2 Notes |
0.80 per cent. |
|
Class A3 Notes |
0.85 per cent. |
|
Class B Notes |
1.00 per cent. |
|
Class C Notes |
1.00 per cent. |
|
Class D Notes |
1.00 per cent. |
HSBC Bank plc is the Principal Paying Agent
HSBC Bank plc
Level 27, 8 Canada Square
London E14 5HQ, the United Kingdom
Attention: The Manager, Repack Client Services, Corporate Trust and Loan Agency, Security Services
EMF-NL Prime 2008-A B.V.
Fred. Roeskestraat 123
1076 EE Amsterdam, the Netherlands
Attention : ATC Management B.V., Director of the Issuer
Fax: +31 20 577 1188
Put Option Notice