HSBC and JPMorgan launched and priced its £2.9 billion ($4.48 billion) Silk Road Finance, a U.K. RMBS backed by prime loans originated by the Co-operative Bank.

The Co-operative Bank is the result of a merger between Cooperative Financial Services and Britannia Building Society in August 2009. Silk Road securitizes prime U.K. residential owner occupied mortgages that were offered by the originator under the Britannia brand or were originally stand-alone Britannia originations.

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