424B3 1 d615606d424b3.htm 424(B)(3) 424(b)(3)

Filed Pursuant to Rule 424(b)(3)

File No. 333- 177230

PROSPECTUS SUPPLEMENT (DISCLOSURE REPORT NO. 3)

TO PROSPECTUS DATED April 30, 2013

LendingClub Corporation

Member Payment Dependent Notes

This prospectus supplement supplements and amends the prospectus dated April 30, 2013 (the Prospectus) and filed pursuant to Rule 424(b)(3) with the Securities and Exchange Commission (the SEC), which was filed with the SEC on April 30, 2013.

The Prospectus and this prospectus supplement relate to up to $1,000,000,000 in principal amount of Member Payment Dependent Notes (the Notes) to be issued by LendingClub Corporation (LendingClub). We will issue the Notes in series and each series will correspond to a single consumer loan originated through our platform to one of our borrower members. In the Prospectus (as supplemented by prior supplements) and this prospectus supplement, we refer to these consumer loans generally as “member loans.” The terms of the Notes are as set forth in the Prospectus (as supplemented by prior supplements).

You should read this prospectus supplement together with the Prospectus and any prior prospectus supplements. This prospectus supplement is qualified by reference to the Prospectus and any prior prospectus supplements, except to the extent that the information in this prospectus supplement supersedes the information contained in the Prospectus or any prior prospectus supplements. This prospectus supplement is not complete without, and may not be delivered or utilized except in connection with, the Prospectus (as supplemented by prior supplements), including all amendments and supplements thereto.

This offering is highly speculative and the Notes involve a high degree of risk. Investing in the Notes should be considered only by persons who can afford the loss of their entire investment. See “Risk Factors” beginning on page 13 of the Prospectus.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

The date of this prospectus supplement is October 23, 2013.


Effective October 23, 2013, LendingClub Corporation (the “Company”) is making the following changes to interest rates and fees as set forth in its Prospectus.

1. The table on Page 60 of the Prospectus under the heading “Three Year Term” is hereby amended and restated to read as follows to reflect the new interest rates:

Three Year Term

 

Loan

Grade

   Interest
Rate
   

Reduction in

Return Due to

LendingClub’s

1.00% Service

Charge

   

Returns After

LendingClub’s

1.00% Service

Charge

 

A1

     6.03     0.674     5.36

A2

     6.62     0.676     5.94

A3

     7.62     0.680     6.94

A4

     7.90     0.681     7.22

A5

     8.90     0.685     8.22

B1

     9.67     0.688     8.98

B2

     10.99     0.693     10.30

B3

     11.99     0.697     11.29

B4

     12.99     0.702     12.29

B5

     13.67     0.704     12.97

C1

     14.30     0.707     13.59

C2

     15.10     0.710     14.39

C3

     15.61     0.713     14.90

C4

     16.20     0.715     15.49

C5

     17.10     0.719     16.38

D1

     17.76     0.722     17.04

D2

     18.55     0.725     17.82

D3

     19.20     0.728     18.47

D4

     19.52     0.729     18.79

D5

     20.20     0.732     19.47

E1

     21.00     0.736     20.26

E2

     21.70     0.739     20.96

E3

     22.40     0.742     21.66

E4

     23.10     0.745     22.35

E5

     23.40     0.747     22.65

F1

     23.70     0.748     22.95


F2

     24.08     0.750     23.33

F3

     24.50     0.752     23.75

F4

     24.99     0.754     24.24

F5

     25.57     0.756     24.81

G1

     25.80     0.758     25.04

G2

     25.83     0.758     25.07

G3

     25.89     0.758     25.13

G4

     25.99     0.758     25.23

G5

     26.06     0.759     25.30

2. The table on Page 61 of the Prospectus under the heading “Five Year Term” is hereby amended and restated to read as follows to reflect the new interest rates:

Five-Year Term

 

Loan

Grade

   Interest
Rate
   

Reduction in

Return Due to

LendingClub’s

1.00% Service

Charge

   

Returns

Assuming

LendingClub’s

1.00% Service

Charge

 

A1

     6.03     0.417     5.61

A2

     6.62     0.420     6.20

A3

     7.62     0.423     7.19

A4

     7.90     0.425     7.47

A5

     8.90     0.429     8.47

B1

     9.67     0.432     9.23

B2

     10.99     0.437     10.55

B3

     11.99     0.441     11.54

B4

     12.99     0.446     12.54

B5

     13.67     0.449     13.22

C1

     14.30     0.451     13.84

C2

     15.10     0.455     14.64

C3

     15.61     0.457     15.15

C4

     16.20     0.460     15.74

C5

     17.10     0.464     16.63

D1

     17.76     0.467     17.29

D2

     18.55     0.471     18.07

D3

     19.20     0.474     18.72

D4

     19.52     0.475     19.04

D5

     20.20     0.478     19.72

E1

     21.00     0.482     20.51


E2

     21.70     0.486     21.21

E3

     22.40     0.489     21.91

E4

     23.10     0.492     22.60

E5

     23.40     0.494     22.90

F1

     23.70     0.495     23.20

F2

     24.08     0.497     23.58

F3

     24.50     0.499     24.00

F4

     24.99     0.502     24.48

F5

     25.57     0.505     25.06

G1

     25.80     0.506     25.29

G2

     25.83     0.506     25.32

G3

     25.89     0.506     25.38

G4

     25.99     0.507     25.48

G5

     26.06     0.507     25.55

3. The table on Page 68 of the Prospectus under the heading “Loan Origination Fees—36 Month Loans” is hereby amended and restated to read as follows to reflect the new fees:

Loan Origination Fees

36 Month Loans

 

Loan Grade

   LendingClub
Origination
Fee
 

A1

     1.11

A2-A3

     2.00

A4-A5

     3.00

B1-B5

     4.00

C1-G5

     5.00