LendingClub Corp - FORM 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 29, 2018

LendingClub Corporation

(Exact name of registrant as specified in its charter)



Commission File Number: 001-36771

Delaware	51-0605731
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

71 Stevenson St., Suite 1000, San Francisco, CA 94105
(Address of principal executive offices and zip code)
(415) 632-5600 (Registrant's telephone number, including area code)
N/A (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:



¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).



Emerging growth company	¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.	¨



Item 8.01		Other Events.

Effective June 29, 2018, interest rates on the LendingClub Corporation ("LendingClub") platform have been updated to reflect an increase between 0.38% and 0.80% for loan grades A1-E5.

Set forth below is a chart showing the interest rates assigned to standard program loans for each of the LendingClub loan grades.



Loan Grade	Interest Rate
A1	6.11	%
A2	6.67	%
A3	7.21	%
A4	7.84	%
A5	8.46	%
B1	10.08	%
B2	10.47	%
B3	11.06	%
B4	11.55	%
B5	12.73	%
C1	13.56	%
C2	14.47	%
C3	15.02	%
C4	16.14	%
C5	16.91	%
D1	17.97	%
D2	18.94	%
D3	19.92	%
D4	20.89	%
D5	22.35	%
E1	23.40	%
E2	24.37	%
E3	25.34	%
E4	26.31	%
E5	27.27	%
F1	28.72	%
F2	29.69	%
F3	30.17	%
F4	30.65	%
F5	30.75	%
G1	30.79	%
G2	30.84	%
G3	30.89	%
G4	30.94	%
G5	30.99	%

Illustration of Servicing Fee and Annual Returns for Fully Performing Loans of Each Loan Grade

The following tables illustrate hypothetical annual return information with respect to our Member Payment Dependent Notes (“Notes”), grouped by LendingClub grade and term. The information in these tables is not based on actual results for investors and is presented only to illustrate the effects of LendingClub’s 1.00% servicing fee by grade on hypothetical annual Note returns. By column, each table presents:

•loan grades;

•the annual stated interest rate;


•	the reduction in the annual return due to LendingClub's 1.00% servicing fee on both interest and principal payments; and

•the hypothetical annual returns on Notes, net of LendingClub's servicing fee.

Three Year Term



Loan Grade	Interest Rate	Reduction in Note Return due to 1.00% Servicing Fee*	Note Returns After LendingClub's Servicing Fee
A1	6.11%	0.67%	5.44%
A2	6.67%	0.68%	5.99%
A3	7.21%	0.68%	6.53%
A4	7.84%	0.68%	7.16%
A5	8.46%	0.68%	7.78%
B1	10.08%	0.69%	9.39%
B2	10.47%	0.69%	9.78%
B3	11.06%	0.69%	10.37%
B4	11.55%	0.70%	10.85%
B5	12.73%	0.70%	12.03%
C1	13.56%	0.70%	12.86%
C2	14.47%	0.71%	13.76%
C3	15.02%	0.71%	14.31%
C4	16.14%	0.71%	15.43%
C5	16.91%	0.72%	16.19%
D1	17.97%	0.72%	17.25%
D2	18.94%	0.73%	18.21%
D3	19.92%	0.73%	19.19%
D4	20.89%	0.74%	20.15%
D5	22.35%	0.74%	21.61%
E1	23.40%	0.75%	22.65%
E2	24.37%	0.75%	23.62%
E3	25.34%	0.76%	24.58%
E4	26.31%	0.76%	25.55%
E5	27.27%	0.76%	26.51%
F1	28.72%	0.77%	27.95%
F2	29.69%	0.78%	28.91%
F3	30.17%	0.78%	29.39%
F4	30.65%	0.78%	29.87%
F5	30.75%	0.78%	29.97%
G1	30.79%	0.78%	30.01%
G2	30.84%	0.78%	30.06%
G3	30.89%	0.78%	30.11%
G4	30.94%	0.78%	30.16%
G5	30.99%	0.78%	30.21%

* Impact of Note servicing fees is computed using the loan’s contractual cash flows; no charge-off losses or prepayments are projected over the loan’s life that would otherwise affect the loan’s projected cash flows.

Five Year Term



Loan Grade	Interest Rate	Reduction in Note Return due to 1.00% Servicing Fee*	Note Returns After LendingClub's Servicing Fee
A1	6.11%	0.42%	5.69%
A2	6.67%	0.42%	6.25%
A3	7.21%	0.42%	6.79%
A4	7.84%	0.42%	7.42%
A5	8.46%	0.43%	8.03%
B1	10.08%	0.43%	9.65%
B2	10.47%	0.44%	10.03%
B3	11.06%	0.44%	10.62%
B4	11.55%	0.44%	11.11%
B5	12.73%	0.44%	12.29%
C1	13.56%	0.45%	13.11%
C2	14.47%	0.45%	14.02%
C3	15.02%	0.45%	14.57%
C4	16.14%	0.46%	15.68%
C5	16.91%	0.46%	16.45%
D1	17.97%	0.47%	17.50%
D2	18.94%	0.47%	18.47%
D3	19.92%	0.48%	19.44%
D4	20.89%	0.48%	20.41%
D5	22.35%	0.49%	21.86%
E1	23.40%	0.49%	22.91%
E2	24.37%	0.50%	23.87%
E3	25.34%	0.50%	24.84%
E4	26.31%	0.51%	25.80%
E5	27.27%	0.51%	26.76%
F1	28.72%	0.52%	28.20%
F2	29.69%	0.53%	29.16%
F3	30.17%	0.53%	29.64%
F4	30.65%	0.53%	30.12%
F5	30.75%	0.53%	30.22%
G1	30.79%	0.53%	30.26%
G2	30.84%	0.53%	30.31%
G3	30.89%	0.53%	30.36%
G4	30.94%	0.53%	30.41%
G5	30.99%	0.53%	30.46%

SIGNATURE(S)

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



		LendingClub Corporation
Date:	June 29, 2018	By:	/s/ Russell S. Elmer
			Russell S. Elmer
			General Counsel and Secretary
			(duly authorized officer)

LendingClub Corp - FORM 8-K - June 29, 2018

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