New Issue: FHLB prices $3 billion three-year global bonds to yield Treasuries plus 43 bps

By Angela McDaniels

Tacoma, Wash., May 28 - Federal Home Loan Banks said it priced $3 billion of three-year global bonds on Thursday at Treasuries plus 43 basis points.

The 1.875% notes, which mature June 20, 2012, priced at 99.912 to yield 1.905%. The comparable Treasury yield was 1.475%.

Banc of America Securities LLC, J.P. Morgan Securities Inc. and UBS Securities LLC were the joint leader managers.

The co-managers were BNP Paribas Securities Corp., Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., FTN Financial Securities Corp., Goldman, Sachs & Co., RBS Securities Inc., HSBC Securities (USA) Inc. and Morgan Stanley & Co. Inc.

Settlement is expected Friday.

Issuer:	Federal Home Loan Banks
Issue:	Global bonds
Amount:	$3 billion
Maturity:	June 20, 2012
Lead managers:	Banc of America Securities LLC, J.P. Morgan Securities Inc. and UBS Securities LLC
Co-managers:	BNP Paribas Securities Corp., Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., FTN Financial Securities Corp., Goldman, Sachs & Co., RBS Securities Inc., HSBC Securities (USA) Inc. and Morgan Stanley & Co. Inc.
Coupon:	1.875%
Price:	99.912
Yield:	1.905%
Spread:	43 bps
Pricing date:	May 28
Settlement date:	May 29

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