FORM 8-K |
CURRENT REPORT |
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
LendingClub Corporation (Exact name of registrant as specified in its charter) |
Commission File Number: 001-36771 | |
Delaware | 51-0605731 |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
71 Stevenson St., Suite 300, San Francisco, CA 94105 | |
(Address of principal executive offices and zip code) | |
(415) 632-5600 (Registrant's telephone number, including area code) | |
N/A (Former name or former address, if changed since last report) |
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Emerging growth company | ¨ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ¨ |
Item 8.01 | Other Events. |
Loan Grade | Interest Rate | ||
A1 | 5.32 | % | |
A2 | 6.08 | % | |
A3 | 6.72 | % | |
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 | % |
• | the reduction in the annual return due to Lending Club's 1.00% servicing fee on both interest and principal payments; and |
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 | 6.08% | 0.67% | 5.41% | |||
A3 | 6.72% | 0.68% | 6.04% | |||
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% |
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 | 6.08% | 0.42% | 5.66% | |||
A3 | 6.72% | 0.42% | 6.30% | |||
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% |
LendingClub Corporation | |||
Date: | November 7, 2017 | By: | /s/ Russell S. Elmer |
Russell S. Elmer | |||
General Counsel and Secretary | |||
(duly authorized officer) |