By Rebecca Melvin and Cristal Cody
Concord, N.H., June 9 – Depository Trust & Clearing Corp. priced $500 million of 3.375% fixed-rate reset non-cumulative series D perpetual preferreds (A2/A) on Tuesday, according to a market source.
The securities, which are non-callable for five years, were talked in the 3.625% area.
BofA Securities Inc., Citigroup Global Markets Inc. and TD Securities (USA) LLC are bookrunners for the Rule 144A and Regulation S offering.
The post-trade financial services company is based in New York.
| Issuer: | Depository Trust & Clearing Corp.
|
| Issue: | Fixed-rate reset non-cumulative preferreds, series D
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| Amount: | $500 million
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| Maturity: | Perpetual
|
| Bookrunners: | BofA Securities Inc., Citigroup Global Markets Inc. and TD Securities (USA) LLC
|
| Coupon: | 3.375%
|
| Calls: | Non-callable for five years
|
| Pricing date: | June 8
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Distribution: | Rule 144A and Regulation S
|
| Talk: | 3.625% area
|
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