By Marisa Wong and Cristal Cody
Los Angeles, March 19 – Northwestern Mutual Global Funding priced $650 million of 5.07% funding agreement-backed notes due March 25, 2027 at Treasuries plus 55 basis points, according to a market source.
Initial price talk was in the Treasuries plus 75 bps to 80 bps area.
Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are the bookrunners.
The issuer is a special purpose statutory trust for Milwaukee-based Northwestern Mutual Life Insurance Co.
| Issuer: | Northwestern Mutual Global Funding
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| Amount: | $650 million
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| Issue: | FA-backed notes
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| Maturity: | March 25, 2027
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| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC
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| Coupon: | 5.07%
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| Spread: | Treasuries plus 55 bps
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| Pricing date: | March 18
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| Initial price talk: | Treasuries plus 75 bps to 80 bps area
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