By Marisa Wong
Madison, Wis., Oct. 27 - SunTrust Banks, Inc. priced $7.73 million of fixed-to-contingent coupon notes due Oct. 31, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2% for the first year. After that, a contingent coupon of 2.75% will be paid if the S&P 500 closes at or above 105% of the initial level on the annual observation date.
Interest is payable annually.
The payout at maturity will be par plus the last coupon payment, if any.
SunTrust Robinson Humphrey, Inc. is the agent.
| Issuer: | SunTrust Banks, Inc.
|
| Issue: | Fixed-to-contingent coupon notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $7,728,000
|
| Maturity: | Oct. 31, 2013
|
| Coupon: | 2% for the first year; 2.75% if S&P 500 closes at or above 105% of initial level on annual observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus last coupon payment
|
| Initial level: | 1,242.00
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Agent: | SunTrust Robinson Humphrey, Inc.
|
| Fees: | 0.75%
|
| Cusip: | 86802WAF5
|
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