New Issue: FHLB prices $5 billion two-year global bonds to yield Treasuries plus 32 bps

By Angela McDaniels

Tacoma, Wash., June 11 - Federal Home Loan Banks said it priced $5 billion of two-year global bonds on Thursday at Treasuries plus 32 basis points.

The 1.625% notes, which mature July 27, 2011, priced at 99.905 to yield 1.671%. The comparable Treasury yield was 1.351%.

Barclays Capital Inc., Deutsche Bank Securities Inc. and Goldman, Sachs & Co. were the joint lead managers.

Citigroup Global Markets Inc. was senior co-manager, and the co-managers were BNP Paribas Securities Corp., Banc of America Securities LLC, Credit Suisse Securities (USA) LLC, FTN Financial Securities Corp., RBS Securities Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc. and UBS Securities LLC.

Settlement is expected Friday.

Issuer:	Federal Home Loan Banks
Issue:	Global bonds
Amount:	$5 billion
Maturity:	July 27, 2011
Lead managers:	Barclays Capital Inc., Deutsche Bank Securities Inc. and Goldman, Sachs & Co.
Co-managers:	Citigroup Global Markets Inc. (senior), BNP Paribas Securities Corp., Banc of America Securities LLC, Credit Suisse Securities (USA) LLC, FTN Financial Securities Corp., RBS Securities Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc. and UBS Securities LLC
Coupon:	1.625%
Price:	99.905
Yield:	1.671%
Spread:	32 bps
Pricing date:	June 11
Settlement date:	June 12

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