Western Asset Mortgage Capital Corporation announced that it has priced an aggregate $398.9 million of Mortgage-Backed Notes, Series 2022-1 (the Notes) in a residential mortgage-backed securitization comprised of a portfolio of residential whole loans. The Notes, which initially will be issued by Arroyo Mortgage Trust 2022-1 in five classes, were priced with a weighted average fixed interest rate of approximately 3.1% per annum. All of the Notes are anticipated to have a final payment date in December 2056.

The Notes will be issued in a private placement to qualified institutional investors and non-US persons under Regulation S of the Securities Act. The offering is subject to customary closing conditions and is expected to close on or about February 11, 2022.