Pepper Australia (Pepper) priced a prime residential mortgage-backed securities (RMBS) deal on November 8, including in the transaction a US$200 million hard-bullet tranche. The security, Pepper Prime 2012-1 Trust, consists of a collateral pool of 2,476 residential loans, which were originated by GE Capital and acquired by Pepper in August 2011, as of the pool cut-off date.