[ESMA 33-128-563 Securitisation Q&A, Q&A 5.5.2]

(a) It is first recalled that the content to report for this field is: “Shall reflect the information in offering circular. For instance, if the prepayment terms are the payment of a 1% fee in year one, 0.5% in year two and 0.25% in year three of the loan this may be shown in the offering circular as: 1%(12), 0.5%(24), 0.25%(36).” Where there are prepayment fees of 1% associated with make-whole payments, then the format should be 1%(MW), where ‘MW’ stands for ‘Make-Whole’.

(b) This should be entered in the following format: X%(MW). For example, if there is a prepayment fee of 0.5% after year one and a make-whole prepayment fee of 1.5% then field CREL93 should be entered as ‘0.5(12), 1.5(MW)’.