Kane SAC Limited is a Bermuda exempted company incorporated in Bermuda on 2 July 1981 and registered as a Class 3 insurer and as a Class C insurer under the Insurance Act 1978, as amended, and registered as a segregated accounts company under the Segregated Accounts Companies Act 2000 on 5 April 2005.

The Series 1-2014 Principle-At-Risk Variable Rate Notes due 07 April, 2015 are  issued pursuant to the Program and in accordance with specific terms set out in the Prospectus Supplement No. 2, dated January 10, 2014, and linked to the segregated account established by the Issuer and designated as “Series 1-2014 Notes”. The business of the Issuer acting in respect of the Segregated Account consists solely of activities related to the issuance of the Series 1-2014 Notes and the performance of its obligations under its reinsurance agreements with the Ceding Insurer.

US$50,120,000 Series 1-2014 Notes due 7 April 2015.