New Issue: Bank of England prices $2 billion of 2.5% notes due 2021 at mid-swaps flat

By Cristal Cody

Tupelo, Miss., Feb. 26 – The Bank of England priced $2 billion of 2.5% three-year notes (Aa2/AA/AA) on Monday on top of talk at a spread of mid-swaps flat, or Treasuries plus 23.85 basis points, according to a market source.

The Rule 144A and Regulation S deal had an order book of more than $2.2 billion.

Barclays, BNP Paribas Securities Corp., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC were the bookrunners.

London-based Bank of England is the central bank of the United Kingdom.

Issuer:	Bank of England
Amount:	$2 billion
Description:	Notes
Maturity:	March 5, 2021
Bookrunners:	Barclays, BNP Paribas Securities Corp., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC
Coupon:	2.5%
Spread:	Mid-swaps flat, or Treasuries plus 23.85 bps
Trade date:	Feb. 26
Settlement date:	March 5
Ratings:	Moody’s: Aa2
	S&P: AA
	Fitch: AA
Distribution:	Rule 144A, Regulation S
Price talk:	Mid-swaps flat area

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