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Published on 4/8/2011 in the Prospect News Agency DailyProspect News Structured Products Daily.

New Issue: FHLB upsizes to $125 million two-year callable step up notes at 0.5% initial rate

New York, April 8 - Federal Home Loan Banks upsized to $125 million its sale of 0.5% initial rate two-year callable step up notes at par, according to the agency's web site.

The bonds will mature on April 26, 2013 and have a Bermuda call.

FHLB originally priced $40 million of the issue.

First Tennessee is the manager.

Issuer:Federal Home Loan Banks
Issue:Step up notes
Amount:$125 million
Maturity:April 26, 2013
Coupon:0.5% initial rate
Price:Par
Call:Bermuda call
Pricing date:April 7
Settlement date:April 26
Underwriter:First Tennessee
Cusip:313373GJ5

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