SECURITIZATION - GUERNSEY

With the launch of the new cellular platforms, we also made small adjustments to make our pricing more flexible and even more transparent. Please note the following changes:

1. QDD registration and ongoing reporting for products to the IRS (US871M) can now be billed at the product level. If you choose this billing method, QDD reporting will be billed at CHF 5,000.00 per product per annum (instead of CHF 20,000.00 per issuer p.a.). As an existing client who already uses QDD reporting, you can continue with issuer-level billing, or you may switch to product-level billing. Please contact our Key Account Management team should you wish to change your QDD billing method.

2. Term sheet adjustments for products under subscription will be invoiced at CHF 1,500.00 per adjustment.

3. Coupon payments for new certificates will be invoiced at CHF 1,000.00 per payment with immediate effect.

Here is a link to the pricing Please let us know if you have any questions - GENTWO’s Key Account Management team remains at your disposal. At this point, I would like to draw your attention once again to our recently launched cellular platforms. Find out what this means and how it could benefit you:

Webinar recording of the 5th of March (in English; Presentation 10 minutes, Q&A 18 minutes)

I found something about this Guernsey PCC:

https://www.careyolsen.com/briefings/cell-companies-in-guernsey#:~:text=A%20Guernsey%20protected%20cell%20company,and%20one%20company%20registration%20number.&text=The%20key%20issue%20which%20differentiates,the%20segregation%20of%20its%20assets.

Two excerpts:

"The consent of the Guernsey Financial Services Commission (the "GFSC") is required for the formation of or conversion of an existing company into a PCC."

- Have they ever done this type of conversion with an existing client and his active positions?

AND

"If any cell of a PCC is unable to pay its debts, technically the PCC as a whole is unable to pay its debts because the PCC is a single legal entity and a creditor of that cell could apply to wind up the entire PCC. However, on any application to the Guernsey court to wind up a PCC on the basis that one of its cells is unable to pay its debts the Guernsey court would refuse to order the winding up of the PCC as a whole in recognition of the nature of a PCC. Nonetheless, it is common for contractual documentation relating to PCCs to provide that in the event that the assets of a particular cell become exhausted any rights of the creditors against that cell are extinguished and any right of that creditor to petition for the winding up of the PCC is excluded."