Jefferies to price fixed-to-floaters linked to the 30-year CMS rate

By Sarah Lizee

Olympia, Wash., Feb. 8 – Jefferies Group LLC and wholly owned subsidiary Jefferies Group Capital Finance Inc. plan to price fixed-to-floating notes due Feb. 28, 2038 linked to the 30-year Constant Maturity Swap rate, according to a 424B3 filing with the Securities and Exchange Commission.

The interest rate will be fixed at 6% for the first three years. After that, the interest rate will be equal to the 30-year CMS rate plus 75 basis points, subject to a minimum interest rate of 0% and a maximum interest rate of 10%. Interest will be payable monthly.

The payout at maturity will be par.

Jefferies LLC is the agent.

The notes will settle on Feb. 28.

The Cusip number is 47233JBJ6.

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