By Marisa Wong
Morgantown, W.Va., April 3 – Jefferies Group LLC priced $3.5 million of senior fixed-to-floating notes due March 21, 2031 linked to the 10-year Constant Maturity Swap rate, according to a 424B5 filing with the Securities and Exchange Commission.
Interest will be fixed at 7% for the first two years. Beginning March 21, 2021, the interest rate will be equal to the 10-year CMS rate plus 100 basis points, subject to a minimum interest rate of 0%. Interest will be payable quarterly.
The payout at maturity will be par.
Jefferies LLC is the agent.
| Issuer: | Jefferies Group LLC
|
| Issue: | Senior fixed-to-floating notes
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| Underlying rate: | 10-year Constant Maturity Swap rate
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| Amount: | $3.5 million
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| Maturity: | March 21, 2031
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| Coupon: | 7% for the first two years; beginning March 21, 2021, 10-year CMS rate plus 100 bps, subject to a floor of 0%; payable quarterly
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| Price: | Variable
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| Payout at maturity: | Par
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| Pricing date: | March 18
|
| Settlement date: | March 21
|
| Agent: | Jefferies LLC
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| Fees: | 2%
|
| Cusip: | 47233JBT4
|
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