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Published on 6/5/2014 in the Prospect News Agency DailyProspect News Structured Products Daily.

New Issue: FHLB upsizes to $45 million five-year callable step up notes at 1.5% initial rate

New York, June 5 - Federal Home Loan Banks upsized to $45 million its sale of 1.5% initial rate five-year callable step up notes at par, according to the agency's web site.

The bonds will mature on June 26, 2019 and have a Bermuda call.

FHLB originally priced $35 million of the issue.

Incapital and Mesirow are the managers.

Issuer:Federal Home Loan Banks
Issue:Step up notes
Amount:$45 million
Maturity:June 26, 2019
Coupon:1.5% initial rate
Price:Par
Call:Bermuda call
Pricing date:May 30
Settlement date:June 26
Underwriters:Incapital and Mesirow
Cusip:3130A2AH9

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