REG - Cardiff Auto Rec22-1 - Notice to Noteholders

US BancorpAnnouncement

31/07/2024 18:45

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RNS Number : 6670Y  Cardiff Auto Receivables Sec 2022-1  31 July 2024

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON
LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE,
PUBLISH OR DISTRIBUTE THIS DOCUMENT. THIS NOTICE OR THE ELECTRONIC
TRANSMISSION THEREOF DOES NOT CONSTITUTE OR FORM PART OF, AND SHOULD NOT BE
CONSTRUED AS, AN OFFER FOR SALE, EXCHANGE OR SUBSCRIPTION OF, OR A
SOLICITATION OF ANY OFFER TO BUY, EXCHANGE OR SUBSCRIBE FOR, ANY SECURITIES OF
THE ISSUER OR ANY OTHER ENTITY IN ANY JURISDICTION.

This Notice contains important information of interest to the registered and
beneficial owners of the Notes (as defined below). If applicable, all
depositaries, custodians and other intermediaries receiving this Notice are
requested to pass this Notice to such beneficial owners in a timely manner. If
you have recently sold or otherwise transferred your entire holding(s) of
Notes referred to below, you should immediately forward this Notice to the
purchaser or transferee or to the stockbroker, bank or other agent through
whom the sale or transfer was effected for transmission to the purchaser or
transferee.

This Notice is addressed only to holders of the Notes (as defined below) and
persons to whom it may otherwise be lawful to distribute it ("relevant
persons"). It is directed only at relevant persons and must not be acted on or
relied on by persons who are not relevant persons. Any investment or
investment activity to which this Notice relates is available only to relevant
persons and will be engaged in only with relevant persons. If you are in any
doubt as to the action you should take, you are recommended to seek your own
financial and legal advice, including in respect of any tax consequences,
immediately from your stockbroker, bank manager, solicitor, accountant or
other financial, tax or legal adviser authorised under the Financial Services
and Markets Act 2000, as amended (if you are in the United Kingdom), or from
another appropriately authorised independent financial adviser and such other
professional advice from your own professional advisers as you deem necessary.

CARDIFF AUTO RECEIVABLES SECURITISATION 2022-1 PLC
(incorporated in England and Wales with limited liability, registered number
13436293)

(the "Issuer")

NOTICE

to the holders of

the £65,575,000 Class B Asset-Backed Floating Rate Notes due October 2028
(the "Class B Notes") (ISIN: XS2435092387, Common Code: 243509238),

the £32,025,000 Class C Asset-Backed Floating Rate Notes due October 2028
(the "Class C Notes") (ISIN: XS2435092627, Common Code: 243509262),

the £30,500,000 Class D Asset-Backed Floating Rate Notes due October 2028
(the "Class D Notes") (ISIN: XS2435093278, Common Code: 243509327),

the £21,350,000 Class E Asset-Backed Floating Rate Notes due October 2028
(the "Class E Notes") (ISIN: XS2435093518, Common Code: 243509351), and

the £45,750,000 Class S Asset-Backed Fixed Rate Notes due October 2028 (the
"Class S Notes" and, together with the Class B Notes, Class C Notes, Class D
Notes and Class E Notes, the "Notes")

of the Issuer outstanding

We refer to the trust deed between the Issuer and U.S. Bank Trustees Limited,
as trustee for the Noteholders (the "Trustee"), dated 11 February 2022 (the
"Trust Deed") pursuant to which the Notes were constituted, and the terms and
conditions of the Notes. Capitalised terms used but not defined in this notice
have the meanings given to them in the master framework agreement dated 11
February 2022 and made between, among others, the Issuer and the Trustee.

We hereby give irrevocable notice to the Noteholders that, on the Payment Date
falling in August 2024 (which is expected to be 21 August 2024) (the "Call
Date"), being the Payment Date on which the Seller will exercise its option to
purchase all of the Purchased Receivables under clause 7.7 (Clean-up call) of
the Receivables Sale Deed, the Issuer will exercise its option pursuant to
Condition 5(d) (Clean-Up Call) to redeem all of the Notes at their aggregate
Principal Amount Outstanding, together with any interest accrued up to but
excluding the Call Date.

This notice is given on 31 July 2024 by

Cardiff Auto Receivables Securitisation 2022-1 plc as Issuer
1 Bartholomew Lane

London EC2N 2AX

United Kingdom

 

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