| Issuer |
Paragon Secured Finance (No.1) PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
| Closing Date |
December 2004 |
| Originator |
Paragon Personal Finance Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
| Notes Issued |
Class A |
Class B |
Class C |
| Original Rating (S&P/Fitch) |
AAA/AAA |
A/A |
BBB/BBB |
| Current Rating (S&P/Fitch) |
AAA/AAA |
AA/AA |
AA-/BBB+ |
| Original Notes |
£231,000,000 |
£42,000,000 |
£27,000,000 |
| Note Denominations |
£50,000 |
£50,000 |
£50,000 |
| Initial Margins |
20bp |
75bp |
100bp |
| Step Up Dates |
15 November 2009 |
15 November 2009 |
15 November 2009 |
| Step Up Margins |
40bp |
150bp |
200bp |
| Optional Redemption Dates |
15 November 2008 |
15 November 2008 |
15 November 2008 |
| Substitution Period |
15December 2004 – 15 November 2008 |
| Principal Determination Dates |
Last business day of April, July, October and January |
| Quarterly Interest Payment Dates |
15 May, 15 August, 15 November, and 15 February |
| Lead Managers |
Barclays Capital, 5 The North Colonnade, Canary Wharf, London, E14 4BB |
| Administrator |
Paragon Finance PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
| Trustee |
Citicorp Trustee Company Limited, Citigroup Centre, 6thFloor, Canada Square, Canary Wharf, London, E14 5LB |
| Rating Agencies |
Standard & Poors, 20 Canada Square, Canary Wharf, London, E14 5LH
Fitch Ratings Limited, 30 North Colonnade, London, E14 5GN |
| Principal Paying / Reference Agent |
Citibank, N.A. Citigroup Centre, 21stFloor, Canada Square, Canary Wharf, London, E14 5LB |
| Legal Advisors to the Issuer/Administrator |
Slaughter and May, One Bunhill Row, London, EC1Y 8YY |
| Legal Advisors to the Lead Manager and Trustee |
Herbert Smith, Exchange House, Primrose Street, London, EC2A 2HS |
| Auditors to the Issuer |
KPMG, One Snowhill, Snowhill Queensway, Birmingham, B4 6GH |
| Underlying Assets |
Second Charged Residential Mortgage Loans |
| Subordinated Loan Provider |
Paragon Finance PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
| Substitute Administrator |
Homeloan Management Limited, The Pavilions, Bridgwater Road, Bristol, BS13 8AE |
| SWAP Counterparty |
Barclays Bank PLC, 5 The North Colonnade, Canary Wharf, London, E14 4BB |