[Update 1: Clarifies Starwood Hotels, Starwood Property Trust is not in timeshare business] Starwood Hotels (HOT) today priced a recently completed asset-backed securitization on vacation ownership interest (timeshare) loans. The deal is worth $280m and is dubbed SVO 2010-A Starwood. The deal is expected to close on August 26, according to the Standard & Poor’s pre-sale report. Purchasers include Credit Suisse Securities (USA), JP Morgan, Barclays Capital, Deutsche Bank and RBS Securities. The deal is a 144a private placement. Starwood is the servicer and Wells Fargo is on back up. The custodian is U.S. Bank. The $256m single-A tranche priced at 265 over swaps, with a 3.65% coupon. The overcollateralization is 14.5%. The $24m triple-B tranche priced at 375 over swaps with a 4.75% coupon. That tranche is overcollateralized at 6.5%. The first payment is due this day next month. Write to Jacob Gaffney.