Published on 1/30/2013 in the Prospect News Structured Products Daily.
New Issue: SunTrust prices $7.43 million fixed-to-floaters with 3.25% initial rate
By Jennifer Chiou
New York, Jan. 30 - SunTrust Banks, Inc. priced $7,434,000 of fixed-to-floating notes due July 30, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3.25% for first 15 months. After that, the rate will be Libor plus 25 basis points, subject to a minimum rate of 0.25% 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: | $7,434,000
|
Maturity: | July 30, 2018
|
Coupon: | 3.25% initially; beginning on April 30, 2014, Libor plus 25 bps, capped at 5%; payable quarterly
|
Price: | Variable
|
Payout at maturity: | Par
|
Pricing date: | Jan. 25
|
Settlement date: | Jan. 30
|
Agent: | SunTrust Robinson Humphrey, Inc.
|
Fees: | 1%
|
Cusip: | 86802WAS7
|
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