New Issue: FHLB prices $1 billion of callable 2% three-year bonds

By Susanna Moon

Chicago, July 14 - Federal Home Loan Banks priced $1 billion of 2% bonds due July 27, 2012 at par on Monday, according to a term sheet.

The bonds are callable on July 27, 2010.

J.P. Morgan Securities Inc., UBS Securities LLC, JCI and Deutsche Bank, New York branch are the underwriters.

The settlement date is July 27.

Issuer:	Federal Home Loan Banks
Issue:	Bonds
Amount:	$1 billion
Maturity:	July 27, 2012
Underwriters:	J.P. Morgan Securities Inc., UBS Securities LLC, JCI and Deutsche Bank, New York branch
Coupon:	2%
Price:	Par
Call option:	On July 27, 2010
Pricing date:	July 14
Settlement date:	July 27

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