Palmer Square CLO 2015-2 (Refinance): 03 November 2017

The Issuer's investment portfolio consists primarily of bank loans and Participation Interests, and the portfolio will be managed by Palmer Square Capital Management LLC.

On the Original Closing Date, Palmer Square CLO 2015-2 issued Class A-1A Senior Secured Floating Rate Notes due 2027, Class A-1B Senior Secured Fixed Rate Notes due 2027, Class A-2 Senior Secured Floating Rate Notes due 2027, Class B Senior Secured Deferrable Floating Rate Notes due 2027, Class C Senior Secured Deferrable Floating Rate Notes due 2027, Class D Secured Deferrable Floating Rate Notes due 2027, Class E Secured Deferrable Floating Rate Notes due 2027 and Subordinated Notes due 2027.

On 20 July 2017 (the Refinancing Date), the Issuer will refinance the Class A-1A Notes, the Class A-1B Notes, the Class A-2 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes. The Subordinated Notes are not being refinanced, however the Issuer will issue additional Subordinated Notes on the Refinancing Date.

The Issuer intends to qualify for the "loan securitization exemption" under the Volcker Rule and, in order to so qualify, the Issuer will not be permitted to purchase securities (such as bonds).