By Susanna Moon
Chicago, Nov. 18 - Nomura America Finance, LLC priced $2 million of callable leveraged steepener notes due Nov. 24, 2025 based on the 10-year and two-year Constant Maturity Swap rates, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be 11% for the first two years. After that, the rate will be four times the spread of the 10-year CMS rate over the two-year CMS rate minus 25 basis points, up to a maximum of 11%. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Nov. 24, 2012.
Nomura Securities International, Inc. is the agent.
| Issuer: | Nomura America Finance, LLC
|
| Issue: | Callable leveraged steepener notes
|
| Amount: | $2 million
|
| Maturity: | Nov. 24, 2025
|
| Coupon: | 11% for two years; thereafter, four times difference between 10-year CMS rate and two-year CMS rate less 25 bps, capped at 11%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates after two years
|
| Pricing date: | Nov. 17
|
| Settlement date: | Nov. 24
|
| Agent: | Nomura Securities International, Inc.
|
| Fees: | 4%
|
| Cusip: | 65539AAG5
|
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