New Issue: FHLB prices $4 billion three-year global bonds to yield Treasuries plus 35 bps

By Angela McDaniels

Tacoma, Wash., July 22 - Federal Home Loan Banks said it priced $4 billion of three-year global bonds on Wednesday at Treasuries plus 35 basis points.

The 1.75% notes, which mature Aug. 22, 2012, priced at 99.862 to yield 1.796%. The comparable Treasury yield was 1.446%.

Banc of America Securities LLC, Citigroup Global Markets Inc. and RBS Securities Inc. were the joint lead managers.

BNP Paribas Securities Corp. was senior co-manager, and the co-managers were Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., FTN Financial Securities Corp., Goldman, Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc. and UBS Securities LLC.

Settlement is expected on Thursday.

Issuer:	Federal Home Loan Banks
Issue:	Global bonds
Amount:	$4 billion
Maturity:	Aug. 22, 2012
Lead managers:	Banc of America Securities LLC, Citigroup Global Markets Inc. and RBS Securities Inc.
Co-managers:	BNP Paribas Securities Corp. (senior), Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., FTN Financial Securities Corp., Goldman, Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc. and UBS Securities LLC
Coupon:	1.75%
Price:	99.862
Yield:	1.796%
Spread:	35 bps
Pricing date:	July 22
Settlement date:	July 23

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