What do the different Note statuses mean?

When you go to your account section you will notice that the Notes in your account have a status listed. (You can view your investments by logging into your account and viewing them in your Account summary). The definitions of each status are below.

Open: An order you placed to purchase a Note is pending and has not yet been issued. It sometimes takes a few weeks for the underlying loan or bond to be acquired by wiseAlpha and the Notes issued.

Expired: The Note was not issued or the Note listing was removed

Current: The underlying loan backing the Note is up to date on all outstanding payments.

Late: The underlying loan or bond backing the Note has not been current for 16 to 30 days. In this instance the borrowing company has defaulted on its interest payments or capital repayments. 

Fully paid: The Note has been fully repaid, either at the expiration of the term or as a result of early pre-payment.

Impaired: Note where the underlying loan or bond backing it has suffered a loss on the principal. Generally, an impairment happens when the company’s debt obligations have been restructured or the company has filed for insolvency and the company’s assets have been liquidated. In this instance you will be notified as to the level of impairment and any portion of capital repayment made. Upon impairment, the remaining principal balance of the Nnote is adjusted by the impairment amount from the account balance.

Capital at risk. No FSCS cover. See Risk Statement.