New Issue: FFCB prices $1 billion 1.5% five-year Designated Notes at 24.5 bps over Treasuries

By Kenneth Lim

Boston, Nov. 10 - Federal Farm Credit Banks Funding Corp. priced $1 billion of new 1.5% five-year Designated Notes on Wednesday at a spread of 24.5 basis points over Treasuries.

The notes were sold at 99.822 to yield 1.537%. Price talk was at a spread of 22.5 bps over Treasuries, market sources said.

Goldman Sachs & Co., J.P. Morgan Securities LLC and RBC Capital Markets, LLC were the lead managers.

The notes are non-callable.

Issuer:	Federal Farm Credit Banks Funding Corp.
Issue:	Designated Notes
Amount:	$1 billion
Maturity:	Nov. 16, 2015
Coupon:	1.5%
Price:	99.822
Yield:	1.537%
Spread:	24.5 bps over Treasuries
Price talk:	22.5 bps over Treasuries
Lead managers:	Goldman Sachs & Co., J.P. Morgan Securities LLC, RBC Capital Markets, LLC
Call:	Non-callable
Pricing date:	Nov. 10
Settlement date:	Nov. 15

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