One Main Financial, a unit of Citigroup, is preparing its first securitization of subprime consumer loans, according to a presale report published Wednesday by Standard & Poor’s.

OneMain Financial Issuance Trust 2014-1 will issue two classes of fixed-rate notes, a $428.95 million of class A notes with a preliminary ‘A’ rating from S&P, and $68.43 million of class B notes with a preliminary ‘BBB’ rating.    

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