REDEMPTION
NOTICE
SOUTHERN PACIFIC
SECURITIES 04-1 PLC
Notice to the
holders of all outstanding
€325,700,000 Class
A1a Mortgage Backed Floating Rate Notes due 2029
U.S.$310,000,000 Class A1b Mortgage Backed Floating
Rate Notes due 2029
£177,700,000 Class
A2 Mortgage Backed Floating Rate Notes (with Class A2 Detachable
Coupons) due 2042
£31,500,000 Class
M Mortgage Backed Floating Rate Notes due 2042
£6,000,000 Class B
Mortgage Backed Floating Rate Notes due 2042
(together the
“Notes”)
issued by Southern
Pacific Securities 04-1 PLC (the “Issuer”)
The Issuer refers to its notice dated 9
February 2018 (the "Issuer's Notice").
NOTICE IS HEREBY GIVEN to the Noteholders that in accordance
with the Issuer's notice to Noteholders of its intention to redeem
the Notes pursuant to Condition 5(d) (Optional Redemption),
as set out in the Issuer's Notice, the Issuer has redeemed the
Notes in full at their Sterling Equivalent Principal Amount
Outstanding including all accrued but unpaid interest on
12 March 2018. Accordingly, the
listing of the Notes on the Official List of the FCA and the
admission of the Notes to trading on the Regulated Market of the
London Stock Exchange plc will be cancelled on, or shortly after,
13 March 2018.
Noteholders who have queries in relation to the above matters
should contact the Directors of Southern Pacific Securities 04-1
PLC, 6th Floor, 65 Gresham Street, London EC2V 7NQ; email:
spvservices@linkgroup.co.uk; 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 23 February 2004.
13 March
2018
for and on behalf of
Southern Pacific Securities 04-1 PLC