Published on 10/31/2012 in the Prospect News Structured Products Daily.
New Issue: SunTrust prices $6.27 million fixed-to-floating notes with 3% initial rate
By Susanna Moon
Chicago, Oct. 31 - SunTrust Banks, Inc. priced $6.27 million of fixed-to-floating notes due April 30, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3% for first 18 months. After that, it will be Libor plus 50 basis points, up to a maximum rate of 5%. Interest is payable quarterly.
The payout at maturity will be par.
SunTrust Robinson Humphrey, Inc. is the agent.
Issuer: | SunTrust Banks, Inc.
|
Issue: | Fixed-to-floating notes
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Amount: | $6,272,000
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Maturity: | April 30, 2018
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Coupon: | 3% initially; beginning April 30, 2014, Libor plus 50 bps, capped at 5%; payable quarterly
|
Price: | Variable
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Payout at maturity: | Par
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agent: | SunTrust Robinson Humphrey, Inc.
|
Fees: | 0.70%
|
Cusip: | 86802WAQ1
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