By Kiku Steinfeld
Chicago, July 8 – Jefferies Group LLC priced $1.53 million of senior fixed-to-floating notes due May 28, 2032 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be fixed at 6.5% for the first two years.
Beginning May 28, 2022, the interest rate will be equal to the 10-year CMS rate plus a spread of 200 basis points, subject to a minimum of zero and a maximum interest rate of 10% per year. Interest will be payable quarterly.
The payout at maturity will be par.
Jefferies LLC is the agent.
| Issuer: | Jefferies Group LLC
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| Issue: | Senior fixed-to-floating notes
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| Amount: | $1,530,000
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| Maturity: | May 28, 2032
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| Coupon: | 6.5% for first two years; after that, 10-year CMS rate plus a spread of 200 basis points, subject to a minimum of zero and a maximum interest rate of 10% per year; payable quarterly
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| Price: | Varying prices
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| Payout at maturity: | Par
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| Pricing date: | May 27
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| Settlement date: | May 29
|
| Agent: | Jefferies LLC
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| Fees: | 2.25%
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| Cusip: | 47233JDF2
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