By Kenneth Lim
Boston, April 7 - Federal Home Loan Banks priced $3 billion of 1.875% three-year Global Notes on Wednesday richer than price talk at an initial spread of 23.5 basis points over Treasuries.
The notes were sold at 99.72 to yield 1.966%. Price talk was initially set at 32 bps over Treasuries, but that was tightened to 30 bps late Tuesday.
Banc of America, Citigroup and UBS Securities were the lead managers.
The notes are non-callable.
| Issuer: | Federal Home Loan Banks
|
| Issue: | Global Notes
|
| Amount: | $3 billion
|
| Maturity: | June 21, 2013
|
| Coupon: | 1.875%
|
| Price: | 99.72
|
| Yield: | 1.966%
|
| Initial spread: | 23.5 bps over Treasuries
|
| Price talk: | 30 bps over Treasuries
|
| Call: | Non-callable
|
| Lead managers: | Banc of America, Citigroup and UBS Securities
|
| Pricing date: | April 7
|
| Settlement date: | April 8
|
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