Title: DSP Email From Fidelity
Post by: samybob on December 01, 2014, 11:00:00 PM
Post by: samybob on December 01, 2014, 11:00:00 PM
I spoke with Fidelity today and they said that an email will go out by the end of today asking if you are interested in the DSP and how many shares you would be interested in. Then by Dec 11 they will allocate the shares to us and we will have 3 days to pay for them. The rep also said that there is no guarantee that I will get any shares at all.
Did anyone get this email yet?
Does anyone have any idea how any of this is allocated? Could someone get 1000 shares and could I get none? Or will they give everyone even amounts if there is huge interest?
Did anyone get this email yet?
Does anyone have any idea how any of this is allocated? Could someone get 1000 shares and could I get none? Or will they give everyone even amounts if there is huge interest?
Title: DSP Email From Fidelity
Post by: hessinger on December 01, 2014, 11:00:00 PM
Post by: hessinger on December 01, 2014, 11:00:00 PM
I had mine hours ago.
On that note... I was capped at 350 shares
Quote
On that note... I was capped at 350 shares
Quote
Title: DSP Email From Fidelity
Post by: borrowbuddi on December 01, 2014, 11:00:00 PM
Post by: borrowbuddi on December 01, 2014, 11:00:00 PM
I too was offered up to 350 shares in the program
Title: DSP Email From Fidelity
Post by: DLIFVOIP on December 01, 2014, 11:00:00 PM
Post by: DLIFVOIP on December 01, 2014, 11:00:00 PM
350 cap here as well. I am rather disappointed.
Title: DSP Email From Fidelity
Post by: Rob L on December 01, 2014, 11:00:00 PM
Post by: Rob L on December 01, 2014, 11:00:00 PM
1400 here; why am I so lucky?
Title: DSP Email From Fidelity
Post by: brycemason on December 01, 2014, 11:00:00 PM
Post by: brycemason on December 01, 2014, 11:00:00 PM
350 for me. Lame, but grateful for anything. Nice, Rob. Probably because you have a larger account? Mine is ~43k
Title: DSP Email From Fidelity
Post by: stanny2 on December 01, 2014, 11:00:00 PM
Post by: stanny2 on December 01, 2014, 11:00:00 PM
350 cap as well...$20K acct
Title: DSP Email From Fidelity
Post by: jakeprops on December 01, 2014, 11:00:00 PM
Post by: jakeprops on December 01, 2014, 11:00:00 PM
350 here. LC account around 10k.
Would love to know LC account balance for that guy that got offered 1400!
Would love to know LC account balance for that guy that got offered 1400!
Title: DSP Email From Fidelity
Post by: hamblingl on December 01, 2014, 11:00:00 PM
Post by: hamblingl on December 01, 2014, 11:00:00 PM
350 max also. account balance at $25k
Title: DSP Email From Fidelity
Post by: yojoakak on December 01, 2014, 11:00:00 PM
Post by: yojoakak on December 01, 2014, 11:00:00 PM
350 max for me.
Title: DSP Email From Fidelity
Post by: TravelingPennies on December 01, 2014, 11:00:00 PM
Post by: TravelingPennies on December 01, 2014, 11:00:00 PM
Got the email half house ago, also 350 cap, 12k acct.
Title: DSP Email From Fidelity
Post by: mindbowels on December 01, 2014, 11:00:00 PM
Post by: mindbowels on December 01, 2014, 11:00:00 PM
Decently sized account (bit larger than the others posted) but still just 350.
Wonder if it is
a) Based on size of LC account
b) Based on size of Fidelity account
c) Fixed and the guy who got 1400 was making it up
Wonder if it is
a) Based on size of LC account
b) Based on size of Fidelity account
c) Fixed and the guy who got 1400 was making it up
Title: DSP Email From Fidelity
Post by: TravelingPennies on December 01, 2014, 11:00:00 PM
Post by: TravelingPennies on December 01, 2014, 11:00:00 PM
350 cap.
I have an account value of over $550k in LC.
Below is the response I received from LC rep. Think the 1,400 is BS.
"Apparently the structure was to treat all investors equally, so I'm sorry that you're disappointed in the plan. Most companies don't even attempt these programs when going public because of the complexity and high degree of regulatory oversight involved. I'm happy to pass along the feedback internally and will do so now but I'm told that there can't be any changes to the structure of the program."
I have an account value of over $550k in LC.
Below is the response I received from LC rep. Think the 1,400 is BS.
"Apparently the structure was to treat all investors equally, so I'm sorry that you're disappointed in the plan. Most companies don't even attempt these programs when going public because of the complexity and high degree of regulatory oversight involved. I'm happy to pass along the feedback internally and will do so now but I'm told that there can't be any changes to the structure of the program."
Title: DSP Email From Fidelity
Post by: TravelingPennies on December 01, 2014, 11:00:00 PM
Post by: TravelingPennies on December 01, 2014, 11:00:00 PM
Show us screenshot for 1400 because everyone I know got 350. It makes sense they do not have enough shares to allocate so they have to offer very little, my guess is that if there are still shares that are available they will let us up the amount as it gets closer to opening day.
Title: DSP Email From Fidelity
Post by: Fred93 on December 01, 2014, 11:00:00 PM
Post by: Fred93 on December 01, 2014, 11:00:00 PM
Fitted anecdotal reports, my theory of the moment is ...
DSP shares offered = min(4000 , max(350, accountvalue/18) )
This presumes that the formula is linear with limits. If it is nonlinear then I don't have enough data by far.
DSP shares offered = min(4000 , max(350, accountvalue/18) )
This presumes that the formula is linear with limits. If it is nonlinear then I don't have enough data by far.
Title: DSP Email From Fidelity
Post by: samybob on December 01, 2014, 11:00:00 PM
Post by: samybob on December 01, 2014, 11:00:00 PM
And you have an account value of over 550k?
!!!!!!!!! How did you do that, what are you investing $1000 in every note? Or do you not have any filters. I would love to see how you buy notes in an account like that. Even if I wanted to put that much money in, I have such strict filters I only get a few loans every feeding time.
!!!!!!!!! How did you do that, what are you investing $1000 in every note? Or do you not have any filters. I would love to see how you buy notes in an account like that. Even if I wanted to put that much money in, I have such strict filters I only get a few loans every feeding time.
Title: DSP Email From Fidelity
Post by: Fred93 on December 01, 2014, 11:00:00 PM
Post by: Fred93 on December 01, 2014, 11:00:00 PM
Title: DSP Email From Fidelity
Post by: Rob L on December 01, 2014, 11:00:00 PM
Post by: Rob L on December 01, 2014, 11:00:00 PM
Gotta fes up before ya'll get a posse.
Just got the usual 350 but thought it would be a hoot to post the 1400.
After Circle got the 350 and knew his account was > mine thought it all in good fun.
Shares envy?
Just got the usual 350 but thought it would be a hoot to post the 1400.
After Circle got the 350 and knew his account was > mine thought it all in good fun.
Shares envy?
Title: DSP Email From Fidelity
Post by: TravelingPennies on December 01, 2014, 11:00:00 PM
Post by: TravelingPennies on December 01, 2014, 11:00:00 PM
Title: DSP Email From Fidelity
Post by: Victor on December 01, 2014, 11:00:00 PM
Post by: Victor on December 01, 2014, 11:00:00 PM
At the extreme opposite end of the spectrum from CircleT009, my LC account value is ~ $3k and my allocation is 350 shares. I originally intended to only buy 100-200 shares, but given the huge demand evident on this forum, I'll take what they give and I can get now.
I hope my meager account size and share allocation does not further unravel Fred's unified theory of LC IPO DSP allocations to investors.
I hope my meager account size and share allocation does not further unravel Fred's unified theory of LC IPO DSP allocations to investors.
Title: DSP Email From Fidelity
Post by: core on December 01, 2014, 11:00:00 PM
Post by: core on December 01, 2014, 11:00:00 PM
Just a reminder, nobody "got" anything, nobody's been "allocated" anything either. The 350 is the maximum amount you can indicate today. What you actually receive may be far less. LC reps told several folks here to aim high at this stage. If this is their idea of aiming high, that does not look promising.
Title: DSP Email From Fidelity
Post by: Unfolder on December 01, 2014, 11:00:00 PM
Post by: Unfolder on December 01, 2014, 11:00:00 PM
350 at $43000, looks like I'll have to join the psychotic bloodthirsty opening day scramble 
Title: DSP Email From Fidelity
Post by: DLIFVOIP on December 01, 2014, 11:00:00 PM
Post by: DLIFVOIP on December 01, 2014, 11:00:00 PM
Title: DSP Email From Fidelity
Post by: TravelingPennies on December 01, 2014, 11:00:00 PM
Post by: TravelingPennies on December 01, 2014, 11:00:00 PM
Title: DSP Email From Fidelity
Post by: TravelingPennies on December 01, 2014, 11:00:00 PM
Post by: TravelingPennies on December 01, 2014, 11:00:00 PM
When and how do I pay for any shares allocated to me?
Shares of LendingClub Corporationpurchased at the IPO price as part of the DirectedShare Program must be paid for in full no later than three business days after the stock trades in the secondary market. Payment can be made by check or wire. Failure to pay for shares by settlement may result in the loss ofany shares allocated to you. You will also lose any potential gains and be responsible for any losses attributable to the sale of the allocated shares. You can only pay for your shares by overnight check or wire, see instructions below. We cannot accept any other forms of payment (credit cards, debit cards, cash, or the proceeds from the sale of those shares).
Am I reading this too literally (retarded) or is this saying that you are REQUIRED to pay for your DSP shares via check/wire, that is to say, funding your account will not pay for them () 
Shares of LendingClub Corporationpurchased at the IPO price as part of the DirectedShare Program must be paid for in full no later than three business days after the stock trades in the secondary market. Payment can be made by check or wire. Failure to pay for shares by settlement may result in the loss ofany shares allocated to you. You will also lose any potential gains and be responsible for any losses attributable to the sale of the allocated shares. You can only pay for your shares by overnight check or wire, see instructions below. We cannot accept any other forms of payment (credit cards, debit cards, cash, or the proceeds from the sale of those shares).
Am I reading this too literally (retarded) or is this saying that you are REQUIRED to pay for your DSP shares via check/wire, that is to say, funding your account will not pay for them (
)
Title: DSP Email From Fidelity
Post by: TravelingPennies on December 01, 2014, 11:00:00 PM
Post by: TravelingPennies on December 01, 2014, 11:00:00 PM
Title: DSP Email From Fidelity
Post by: PennySaved on December 01, 2014, 11:00:00 PM
Post by: PennySaved on December 01, 2014, 11:00:00 PM
I signed up for 350 shares. As of Sept 30, I had $30K in my main LC account and $23.5K in my Roth LC account. Thanks for all the folks posting info and alerts. I am glad I check this site everyday. The Fidelity emails have come to my email address for my LC Roth account, which is the email address I don't use and check very often.
Title: DSP Email From Fidelity
Post by: mchu168 on December 02, 2014, 11:00:00 PM
Post by: mchu168 on December 02, 2014, 11:00:00 PM
I got 350 shares too! I'm psyched!
BTW I have well over $500k at LC, so account value has nothing to do with the allocation apparently.
BTW I have well over $500k at LC, so account value has nothing to do with the allocation apparently.
Title: DSP Email From Fidelity
Post by: rawraw on December 02, 2014, 11:00:00 PM
Post by: rawraw on December 02, 2014, 11:00:00 PM
In addition, leveraging our publicly available application program interface and
downloadable data files, our technology partners, with whom we have no compensation arrangements, have developed applications to
facilitate automated investing based on preset criteria controlled by their clients and to build credit models and filters in addition to those
provided by us to investors. We do not pay for the development of these additional models and filters, which are only available to the
developer's clients and are not made publicly available by us
downloadable data files, our technology partners, with whom we have no compensation arrangements, have developed applications to
facilitate automated investing based on preset criteria controlled by their clients and to build credit models and filters in addition to those
provided by us to investors. We do not pay for the development of these additional models and filters, which are only available to the
developer's clients and are not made publicly available by us
Title: DSP Email From Fidelity
Post by: TravelingPennies on December 02, 2014, 11:00:00 PM
Post by: TravelingPennies on December 02, 2014, 11:00:00 PM
As trust increases, we believe investors will continue to demonstrate a willingness to accept lower risk premiums that will allow us to offer
lower interest rates and attract additional high-quality borrowers.
lower interest rates and attract additional high-quality borrowers.
Title: DSP Email From Fidelity
Post by: Fred93 on December 02, 2014, 11:00:00 PM
Post by: Fred93 on December 02, 2014, 11:00:00 PM
Title: DSP Email From Fidelity
Post by: rawraw on December 02, 2014, 11:00:00 PM
Post by: rawraw on December 02, 2014, 11:00:00 PM
I thought it was interesting they view the ecosystem as a strength ha ha ha