New Issue: SunTrust prices $5.3 million fixed-to-floaters with 2% initial rate

By Marisa Wong

Madison, Wis., May 29 - SunTrust Banks, Inc. priced $5.3 million of fixed-to-floating notes due May 29, 2015, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 2% for the first 18 months. After that, it will be Libor plus 50 basis points, subject to a minimum rate of 0.5% and 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
Amount:	$5,304,000
Maturity:	May 29, 2015
Coupon:	2% initially; beginning Nov. 29, 2013, Libor plus 50 bps, floor of 0.5% and cap of 5%; payable quarterly
Price:	Variable
Payout at maturity:	Par
Pricing date:	May 25
Settlement date:	May 31
Agent:	SunTrust Robinson Humphrey, Inc.
Fees:	1%
Cusip:	86802WAL2

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