By Kenneth Lim
Boston, Jan. 22 - Federal Home Loan Banks priced $30 million of new five-year, non-callable three-month 1% step-up notes, market sources said. The amount was increased from an original $15 million.
The notes were sold at par.
The coupon will increase by 25 basis points every three months if the notes are not called until a final coupon of 5.75%.
Vining Sparks and Morgan Keegan are the underwriters.
| Issuer: | Federal Home Loan Banks
|
| Issue: | Step up notes
|
| Amount: | $30 million
|
| Maturity: | Feb. 10, 2015
|
| Initial coupon: | 1%
|
| Coupon step-up: | 25 bps every 3 months
|
| Price: | Par
|
| Call: | 3-month Bermuda call
|
| Underwriters: | Vining Sparks and Morgan Keegan
|
| Pricing date: | Jan. 22
|
| Settlement date: | Feb. 10
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
