By Kenneth Lim
Boston, Oct. 6 - Federal Home Loan Banks priced $25 million of two-year callable step-up notes at an initial coupon of 0.5%.
They have a Bermuda call with three months of call protection.
The notes were sold at par.
Morgan Keegan and Vining Sparks were the underwriters.
The coupon will step up by 0.25% every three months.
| Issuer: | Federal Home Loan Banks
|
| Issue: | Step up notes
|
| Amount: | $25 million
|
| Maturity: | Oct. 28, 2011
|
| Coupon: | 0.5% initial rate, step up 0.25% every 3 months
|
| Price: | Par
|
| Call: | Bermuda call after three months
|
| Pricing date: | Oct. 6
|
| Settlement date: | Oct. 28
|
| Underwriters: | Morgan Keegan and Vining Sparks
|
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