SALT LAKE CITY — Prestige Financial Services completed its
11th and largest rated term securitization on Wednesday, issuing $350 million
in securities backed by $353,535,758 in automobile installment receivables.

In a transaction led jointly by Wells Fargo Securities and
J.P. Morgan Securities, officials explained the notes were purchased by
qualified institutional buyers and accredited investors in a private offering
pursuant to Rule 144A of the Securities Act.

Prestige Financial Services indicated the six note classes
carried ratings ranging from A-1+/R-1(h) through BBB/BBB(h) from Standard &
Poor's and DBRS, respectively, based on several factors. Those reasons included
Prestige's proven track record as a loan originator and servicer.

The weighted average note coupon was 1.55 percent, the
lowest pricing the company has achieved on a securitization to date.

"In a market with significant competitive supply, Prestige
built a large order book with substantial investor diversity that bodes well
for continued issuance success," said Chris Pink, managing director at Wells
Fargo Securities.

Prestige manages a loan portfolio of nearly $600 million and
does business with approximately 1,200 dealerships in 41 states.

"We're an organization that prudently pursues opportunity,"
Prestige chief operating officer Bryant Henrie said.

"This transaction, so expertly managed by our bankers and
well-received by our investors, bolsters Prestige's ability to provide the
quality of auto financing that makes sense both for our customers and for us,
even in a very active market," Henrie continued.

Since notes included in this transaction have been sold,
Henrie added this announcement of their sale appears as a matter of record
only.

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