New Issue: SunTrust prices $3.39 million fixed-to-floating notes with 3.5% initial rate

By Angela McDaniels

Tacoma, Wash., April 27 - SunTrust Banks, Inc. priced $3.39 million of fixed-to-floating-rate notes due April 30, 2017, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 3.5% for the first year. In years two through five, it will be Libor plus 100 basis points, subject to a minimum rate of 1.25% per year and a maximum rate of 6% per year. 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-rate notes
Amount:	$3.39 million
Maturity:	April 30, 2017
Coupon:	3.5% in year one; in years two through five, Libor plus 100 bps, subject to minimum of 1.25% per year and maximum of 6% per year; payable quarterly
Price:	Variable prices
Payout at maturity:	Par
Pricing date:	April 25
Settlement date:	April 30
Agent:	SunTrust Robinson Humphrey, Inc.
Fees:	1%
Cusip:	86802WAJ7

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