Jefferies to price fixed-to-floating notes linked to CMS rates

By Angela McDaniels

Tacoma, Wash., March 27 – Jefferies Group LLC and Jefferies Group Capital Finance Inc. plan to price fixed-to-floating-rate notes due April 28, 2033 linked to the leveraged difference between the 10-year Constant Maturity Swap rate and the two-year Constant Maturity Swap rate, according to a 424B5 filing with the Securities and Exchange Commission.

The initial interest rate will be 10% per year. Beginning April 28, 2019, the interest rate will be 10 times the spread of the 10-year CMS rate over the two-year CMS rate, subject to a minimum of zero and a maximum interest rate of 10% per year. Interest will be payable monthly.

The payout at maturity will be par.

Jefferies LLC is the agent.

The notes will settle April 28.

The Cusip number is 47233JAL2.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.