Projected Return

Projected Returns are Lending Club’s modeled return for a subset of Notes, often a Note Grade (A through G) or Subgrade (A1-G5). We calculate our modeled return using that group’s average effective interest rates, expected losses, recovery rates, and service fees. Our model is based on the past performance of loans with similar characteristics as well as certain additional assumptions that could impact future performance. Projected Returns are not intended as a promise of future results and are not representative of the projected performance of any single Note. Individual portfolio results may be impacted by, among other things, the diversity of the portfolio, the exposure to any single Note or group of Notes, as well as macroeconomic conditions. Notes are offered by prospectus filed with the SEC and you should review the risks and uncertainties described in the prospectus prior to investing in the Notes.