INSEAD Series 25 Return

Fixed Rate Savings Bond

Germany

Ethical Savings Term Account

Belgium

Prodigy FinanceINSEAD

4%

0%

2%

6%

10%

12%

4.85%

1.7% 2.15%

18.78%

1.59%

5.15%8%

14%

16%

18%

20%

Student Nationalities

This pie chart shows the regional breakdown of our entire INSEAD loan portfolio.

East & Southeast Asia

Africa

Middle East (2%)

Latin America

Eastern Europe

South Asia

Western Europe

Oceania (3%)

North America

23%

20%

15%

11%

10%

9%

7%

Super-premium: INSEAD students experience an average salary increase of 96% after graduation, with an average post-MBA salary of 115,000*

Low risk: Students are accepted at INSEAD, and screened through Prodigys custom-designed credit vetting processes. Each student's repayment status is visible online to alumni investors, with resulting social pressure to repay.

Diversified: The wide range of nationalities reduces exposure to regional/country risks. The diversity of students sector experience and backgrounds limits concentration risk.

Student Portfolio Characteristics

Your investment into Series 25 will be disbursed directly to INSEAD to cover the tuition of students in the MBA and EMBA classes of 2014. Your return is based on the repayment performance of the students in the pool. The investment is super-premium, low risk & diversified.

Key Investment Terms

INSEAD Series 25 Fact CardThe INSEAD Series 25 bond allows you to invest into a pool of talented students from the INSEAD MBA and Executive MBA Classes of 2014, while earning a great return.

*Financial Times 2013 Rankings

to date

DISBURSED26mto over

STUDENTS727 from

84COUNTRIES

**Based on historic levels of early repayment

*The target yield (IRR) takes into account the calendar of cashflow payouts as well as compounding interest. This accounts for the difference between the target inter-est rate and target IRR. The figure is calculated assuming a base rate of 0.94% over the term of the note, based on the Eurozone 5-year bond yield curve. The base rate as of 7 Oct 2013 was 0.225%.

Returns

The line graph shows annual interest rates. The bar graph shows total return at 8.5 years (Prodigy bond maturity), adjusted for 1.5% annual inflation. Prodigy's return is based on an average base rate of 0.94% and no reinvestment. If cou-pons were reinvested or if base rates rise, the Prodigy return would also increase. Our comparatively high return speaks to the calendar of coupon payouts, in which much of the principal investment is returned early.

Benchmarks

The German fixed rate savings bond is from a major European bank and matures at 5 years. The "ethical savings term account" is an 8-year investment at a European bank known for socially responsible investing. For both benchmarks, we assume reinvestment for an additional 3.5 and 0.5 years respectively, to make the 8.5-year comparison with the Prodigy return.

The investment is a listed bond on the Irish Stock Exchange, funding students from the MBA and EMBA 2014 classes.

The investment funds a diversified pool of low-risk INSEAD students from 80+ countries.

The investment offers a target yield of 6.01% p.a (IRR)*. Returns are linked to the 3 Month Euribor base rate.

INSEAD provides a partial guarantee in the unlikely event that default exceeds 10%.

15 June 2022

Up to 27% student default

3 Month Euribor

4.4 years

Euroclear/Clearstream

- EUR26.33%

6.01% p.a. Irish Stock Exchange

4.85% above Base Rate

Semi-annual starting on 15 July 2015

FeesAll investor returns are shown net of all fees. Prodigy Finance charges an annual management fee of 2% and a once off issue fee of 0.75%.

Final Maturity

Capital Protection

Base Rate 10,000Min. Investment

Weighted Avg Life**

Settlement

DenominationTotal Target Return

Target IRR* Listing

Coupon Frequency

Target Interest Rate ISIN XS0960886124

30 January 2014Bond Issue Date

Investing in students at the worlds top business schools

Student Default Rate

Inve

stor

Yie

ld*

Typical default range

*Based on historic levels of early repayment

Defaults and Effect on Return

INSEAD guarantee from 10% default

0% 1% 2% 3% 14%13%12%11%10%9%8%7%6%5%4% 15%

6.0% 5.9% 5.7% 5.5% 5.2%

3.9%4.2%4.5%4.7%

5.0%

3.8%

Post-graduation Employment Industry*

Finance

Consulting

Public Sector / Social Impact (3%)

Primary Industries (3%)

Hi-Tech / Telecommunications

Consumer / Luxury Goods

Energy / Petroleum

Manufacturing

Healthcare (3%)

Other

41%

14%10%

8%

6%

5%

7%

3.9% 3.9% 3.8% 3.8% 3.8%

Structure of the Investment

The bond is issued by a Special Purpose Vehicle, MBA Community Loans plc, and is listed on the Irish Stock Exchange. Investments are made into a school-specific single class of students, meaning each note is a separate ring-fenced tranche and the performance is independent of other schools or classes. The bond's return is directly related to the repayment performance of the students. Individual defaults would incrementally affect the return of the pool, as shown below. The INSEAD guarantee covers the portfolio from 10-20% default.

Loan servicing & portfolio management SPV management & programme trustee Auditors & tax adviceGlobal paying agent & registrar

This document is a not a full prospectus and before making any decision to invest you should read the entire Prospectus and Final Terms for the Series, available at www.prodigyfinance.com/insead/invest. This product is not suitable for all investors, nor is it intended as a complete investment programme, and you should take independent investment advice as to whether this product is suitable for you. Past performance is no guide to future performance. This product is not a deposit and is not covered by the UK Financial Services Compensation Scheme (FSCS) or any equivalent overseas compensation scheme. This investment has not been, and will not be, registered under the US Securities Act of 1933, as amended (the Securities Act), and may not be offered or sold within the United States or to, or for the account or benefit of, US persons (as defined in Regulation S under the Securities Act (Regulation S)) except in certain transactions exempt from the registration requirements of the Securities Act. This product may have limited or no liquidity and you may f ind it dif f icult or impossible to realise the value of your investment. You should be aware that by investing in this product you may lose some or all of the money invested. You have limited recourse to the issuer of the security, no recourse to the borrowers, and there are other risks including those relating to the default or insolvency of the issuer who is not an authorised or regulated firm. The target return on the notes is fully dependent on the repayment performance of the students linked to the Series. The timing and amount of these repayments will determine the overall return on the Notes.Prodigy Finance Ltd is an appointed representative of BriceAmery Capital Limited which is authorised and regulated by the Financial Conduct Authority. This document has been issued by BriceAmery Capital Limited as a Financial Promotion under Section 21 of the Financial Services and Markets Act 2000.

Our Investor Relations Manager is here to answer all your questions.

Jenn Schwendeman | +44(0) 20 7193 2763 | jenn@prodigyfinance.com

Register now to see other investment documents: www.prodigyfinance.com/invest

Have more Questions?

Avg entry salarypost graduation 88,800Avgage 32 yrs Avg loan 35,616

Top Employers of INSEAD Graduates*

*These figures are based on the entire 2012 INSEAD graduate class.

PFL_20131010_FC_INSEAD