By Angela McDaniels
Tacoma, Wash., Aug. 1 - Natixis US Medium-Term Note Program LLC priced $35 million of callable capped CMS steepener notes due July 31, 2028 linked to the 30-year Constant Maturity Swap rate and the five-year CMS rate, according to a term sheet.
The interest rate is 10% for the first two years. Beginning July 31, 2015, the interest rate will be four times the spread of the 30-year CMS rate over the five-year CMS rate, subject to a minimum rate of zero and a maximum rate of 10% per year. Interest is payable quarterly.
The payout at maturity will be par.
Beginning July 31, 2014, the notes are callable at par on any interest payment date.
Natixis Securities Americas LLC is the agent.
| Issuer: | Natixis US Medium-Term Note Program LLC
|
| Guarantor: | Natixis, New York Branch
|
| Issue: | Callable capped CMS steepener notes
|
| Underlyings: | 30-year and five-year Constant Maturity Swap rates
|
| Amount: | $35 million
|
| Maturity: | July 31, 2028
|
| Coupon: | 10% for first two years; beginning July 31, 2015, four times spread of 30-year CMS rate over five-year CMS rate, subject to minimum of zero and maximum of 10% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from July 31, 2014 onward
|
| Pricing date: | July 26
|
| Settlement date: | July 31
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| Agent: | Natixis Securities Americas LLC
|
| Fees: | 3.5%
|
| Cusip: | 63873HKA1
|
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