Southern Pacific Securities 04-2 PLC - Notice to Noteholders

SOUTHERN PACIFIC SECURITIES 04-2 PLC

Notice to the holders of all outstanding

€100,000,000 Class A1a Mortgage Backed Floating Rate Notes due 2025
(Common Code Reg S: 019660982; Common Code 144A: 019695204; ISIN – Reg S: XS0196609829; ISIN – 144A: US84359VAA08) Issue Price: 100 per cent.

U.S.$100,000,000 Class A1b Mortgage Backed Floating Rate Notes due 2025

(Common Code Reg S: 019661083; Common Code 144A: 019695298; ISIN – Reg S: XS0196610835; ISIN – 144A: US84359VAB80) Issue Price: 100 per cent.

£180,900,000 Class A1c Mortgage Backed Floating Rate Notes due 2025

(Common Code Reg S: 019661156; Common Code 144A: 019695344; ISIN – Reg S: XS0196611569; ISIN – 144A: US84359VAC63) Issue Price: 100 per cent.

€100,000,000 Class A2a Mortgage Backed Floating Rate Notes due 2042

(Common Code Reg S: 019661202; Common Code 144A: 019695484; ISIN – Reg S: XS0196612021; ISIN – 144A: US84359VAD47) Issue Price: 100 per cent.

£235,200,000 Class A2c Mortgage Backed Floating Rate Notes due 2042

(Common Code Reg S: 019661296; ISIN – Reg S: XS0196612963)

(with Class A2c Detachable Coupons)  (Common Code: 019741273; ISIN: XS0197412736)  Issue Price: 100 per cent. plus premium

U.S.$22,500,000 Class B1b Mortgage Backed Floating Rate Notes due 2042

(Common Code Reg S: 019661342; Common Code 144A: 019695891; ISIN – Reg S: XS0196613425; ISIN – 144A: US84359VAH50) Issue Price: 100 per cent.

£31,600,000 Class B1c Mortgage Backed Floating Rate Notes due 2042

(Common Code Reg S: 019661482; Common Code 144A: 019695964; ISIN – Reg S: XS0196614829; ISIN – 144A: US84359VAJ17) Issue Price: 100 per cent.

€5,000,000 Class C1a Mortgage Backed Floating Rate Notes due 2042

(Common Code Reg S: 019661539; Common Code 144A: 019696197; ISIN – Reg S: XS0196615396; ISIN – 144A: US84359VAK89) Issue Price: 100 per cent.

£19,400,000 Class C1c Mortgage Backed Floating Rate Notes due 2042

(Common Code Reg S: 019661636; Common Code 144A: 019696278; ISIN – Reg S: XS0196616360; ISIN – 144A: US84359VAM46) Issue Price: 100 per cent.

€5,000,000 Class D1a Mortgage Backed Floating Rate Notes due 2042

(Common Code Reg S: 019661652; Common Code 144A: 019696332; ISIN – Reg S: XS0196616527; ISIN – 144A: US84359VAN29) Issue Price: 100 per cent.

£19,400,000 Class D1c Mortgage Backed Floating Rate Notes due 2042

(Common Code Reg S: 019661806; Common Code 144A: 019696383; ISIN – Reg S: XS0196618069; ISIN – 144A: US84359VAQ59) Issue Price: 100 per cent.

£7,000,000 Class E Mortgage Backed Floating Rate Notes due 2042

(Common Code Reg S: 019661849; ISIN – Reg S: XS0196618499)  Issue Price: 100 per cent.

(together the “Notes”)

issued by Southern Pacific Securities 04-2 plc

 (the “Issuer”)

The Issuer would like to draw Noteholders attention to the following notice that was published on today’s date in the Financial Times which shall constitute the notice to Noteholders pursuant to Condition 14:

NOTICE IS HEREBY GIVEN to the Noteholders that the Mortgage Administrator has delivered a notice to the Issuer in accordance with the provisions of Clause 30 (Option) of the Mortgage Administration Agreement, confirming that it is exercising its option to purchase all (but not some only) of the Loans and the Collateral Security from the Issuer on the Interest Payment Date falling in March 2018.

Accordingly, the Issuer is hereby providing notice to the Noteholders in accordance with Condition 5(d) (Early Redemption) that it will, on the Interest Payment Date falling in March 2018, redeem the Notes in accordance with Condition 5(d) (Early Redemption).

Noteholders who have queries in relation to the above matters should contact the Issuer - email: [e-mail]; attn.: The Directors for further information.

Defined terms used in this notice will have the meaning given to them in the prospectus of the Issuer dated 29 July 2004.

9 February 2018                                                                                 

for and on behalf of

                                                                                     Southern Pacific Securities 04-2 plc

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