By Marisa Wong
Morgantown, W.Va., Aug. 22 – Jefferies Group LLC priced $30 million of additional fixed-to-floating notes due Aug. 31, 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 424B2 filing with the Securities and Exchange Commission.
Jefferies priced an initial $20 million of the notes on Aug. 4.
The interest rate is 8% for the first five years. After that, the interest rate will be 9 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 9% per year. Interest will be payable monthly.
The payout at maturity will be par.
Jefferies LLC is the agent.
| Issuer: | Jefferies Group LLC
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| Issue: | Fixed-to-floating notes
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| Amount: | $50 million (increased from $20 million)
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| Maturity: | Aug. 31, 2037
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| Coupon: | 8% for first five years; after that, 9 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 9% per year; payable monthly
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| Price: | Variable
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| Payout at maturity: | Par
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| Pricing date: | Aug. 4 for $20 million, Aug. 11 for $30 million
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| Settlement date: | Aug. 31
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| Agent: | Jefferies LLC
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| Fees: | 3.5%
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| Cusip: | 47233JAV0
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