FRN Variable Rate Fix

LONDON--()--

06 July 2015

Issue: VCL MASTERS S.A

Series 2012-1 Class A Notes

XS0857704976

Pursuant to our appointment as Agent for the above stated issue, please be advised of the following interest rate determination:

Date From: 25 June 2015

Date To: 27 July 2015

Record Date: 22 July 2015

Value Date: 27 July 2015

Benchmark Rate: -0.065%

Margin: 0.3%

Total Rate: 0.235%

Number of Days: 32

Day Count: Actual / 360

Interest Frequency: Monthly

Total Amount Due:

EUR 12,554.22

Interest Per 1K: EUR 0.20888885

Pool Factor: 1

Short Name: VCL MASTERS S.A
Category Code: RC
Sequence Number: 473705
Time of Receipt (offset from UTC): 20150707T110544+0100

Contacts

HSBC Security Services

Contacts

HSBC Security Services