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Published on 5/12/2014 in the Prospect News Agency DailyProspect News Structured Products Daily.

New Issue: FHLB upsizes to $145 million three-year callable step up notes at 0.5% initial rate

New York, May 12 - Federal Home Loan Banks upsized to $145 million its sale of 0.5% initial rate three-year callable step up notes at par, according to the agency's web site.

The bonds will mature on June 5, 2017 and have a Bermuda call.

FHLB originally priced $25 million of the issue.

BNYM and JL are the managers.

Issuer:Federal Home Loan Banks
Issue:Step up notes
Amount:$145 million
Maturity:June 5, 2017
Coupon:0.5% initial rate
Price:Par
Call:Bermuda call
Pricing date:May 7
Settlement date:June 5
Underwriters:BNYM and JL
Cusip:3130A1XQ6

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