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SunTrust Banks to price floating-rate notes with 0.5% minimum coupon
By Angela McDaniels
Tacoma, Wash., Dec. 4 - SunTrust Banks, Inc. plans to price floored floating-rate notes due June 18, 2017, according to an FWP filing with the Securities and Exchange Commission.
The interest rate is Libor plus 45 basis points, subject to a minimum interest rate of 0.5% per year. Interest will be payable quarterly.
The payout at maturity will be par.
SunTrust Robinson Humphrey, Inc. is the agent.
The notes are expected to price Dec. 13 and settle Dec. 18.
The Cusip number is 86802WBA5.
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