New Issue: Nordea Bank prices $1 billion 4.25% 10-year subordinated notes at 250 bps spread

By Andrea Heisinger

New York, Sept. 17 - Nordea Bank AB priced $1 billion of 4.25% 10-year tier 2 subordinated notes (Aa3/AA-/) via Rule 144A and Regulation S on Monday to yield Treasuries plus 250 basis points, a source close to the deal said.

The notes priced at 99.364 to yield 4.329%.

Bookrunners were Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC.

The financial services company is based in Stockholm.

Issuer:	Nordea Bank AB
Issue:	Tier 2 subordinated notes
Amount:	$1 billion
Maturity:	Sept. 21, 2019
Bookrunners:	Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC
Coupon:	4.25%
Price:	99.364
Yield:	4.329%
Spread:	Treasuries plus 250 bps
Distribution:	Rule 144A, Regulation S
Trade date:	Sept. 17
Settlement date:	Sept. 21
Ratings:	Moody's: Aa3
	Standard & Poor's: AA-

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