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Published on 1/25/2017 in the Prospect News Structured Products Daily.

New Issue: Jefferies sells $10 million step-up callables with a 4% initial rate

By Marisa Wong

Morgantown, W.Va., Jan. 25 – Jefferies Group LLC priced $10 million of step-up callable notes due Jan. 27, 2032, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is 4% initially, stepping up to 6% on Jan. 27, 2022. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on Jan. 27, 2022.

Jefferies LLC is the agent.

Issuer:Jefferies Group LLC
Issue:Step-up callable notes
Amount:$10 million
Maturity:Jan. 27, 2032
Coupon:4% initially, stepping up to 6% on Jan. 27, 2022; payable semiannually
Price:Par of $1,000
Payout at maturity:Par
Call option:At par on Jan. 27, 2022
Pricing date:Jan. 24
Settlement date:Jan. 27
Agent:Jefferies LLC
Fees:1.75%
Cusip:47233JAH1

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