| Issuer / Guarantor | Upstart Holdings Inc |
|---|---|
| Size | USD 690mn |
| Type | Convertible |
| Leads | Goldman Sachs, Barclays, Citigroup |
| Maturity | 15 Feb 2032 (6.5 years) |
| Coupon | 0% (0 - 0.5%) |
| Premium | 30% (27.5 - 32.5%) |
| Calls | NC3; PC @ 130% w table MW |
| Puts | t/o @ 100% |
| Div protection | Ratio adjustment (Full) |
| T/o protection | Make-whole table |
| CoCo | 130% to Nov 2031 (6.3 yrs) |
| Announced | 11 Aug 2025 |