c/o Marsh IAS Management Services (Bermuda), Victoria Hall, 11 Victoria Street, Hamilton, HM 11, Bermuda

Listed Since: 2012/07/17
Delisted on: 2015/04/09
CUSIP: 74824KAA2
ISIN: US74824KAA25
Tel: +1 441 299 8808
Fax: +1 441 292 3793
Email: warren.deklerk@marsh.com


Issuance of $100,000,000 Principal At-Risk Variable Rate Notes due April 9, 2015. The Notes are exposed to Hurricane Events and Europe Windstorm Events on a per occurrence basis during the Risk Period.


The Notes will be issued in United States currency, in minimum denominations of $250,000 and integral multiples of $1000 thereof.


The purpose of the issuance of the Notes (the “Offering”) is to collateralize and fund the obligations of the Issuer under a risk transfer contract to make certain risk transfer payments to the counterparty following the occurrence of one or more Hurricanes in specifically covered areas and/or the occurrence of one or more European Windstorms in specifically covered areas (together “Loss Events”).

The Risk Transfer Counterparty is Münchener Rückversicherungs- Gesellschaft Aktiengesellschaft in München (“Munich Re”).

Coupon Rate or Effective Yield: 10.35% per annum



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