By Marisa Wong
Morgantown, W.Va., July 10 – Jefferies Group LLC priced an additional $5 million of fixed-to-floating-rate notes due June 30, 2037 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.
This brings the total issue size to $25 million. An initial $15 million principal amount of the notes priced on June 7, and an additional $5 million priced on June 15.
The initial interest rate will be 10% per year.
Beginning Dec. 31, 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.
| Issuers: | Jefferies Group LLC
|
| Issue: | Fixed-to-floating notes
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| Amount: | $25 million, increased from $15 million
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| Maturity: | June 30, 2037
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| Coupon: | 10% per year initially; beginning Dec. 31, 2019, 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; payable monthly
|
| Price: | Variable
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| Payout at maturity: | Par
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| Pricing date: | June 7 for $15 million, June 15 for $5 million, June 27 for $5 million
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| Settlement date: | June 30
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| Agent: | Jefferies LLC
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| Fees: | 3.5%
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| Cusip: | 47233JAQ1
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