By Lisa Kerner
Charlotte, N.C., July 7 – The Federal Home Loan Bank System priced $3 billion of 0.625% two-year Global Notes on Thursday at 12.5 bps over Treasuries, according to a news release.
Pricing was at 99.792 to yield 0.726%.
Lead managers are Barclays, Deutsche NY and TD Securities (USA) LLC.
Interest payments are on Aug. 7 and Feb. 7, beginning Aug. 7.
Distribution was primarily to investors in the United States (79%) and was led by investment advisers/fund managers (51%) followed by central banks (12%).
The government-sponsored banks for financial institutions are based in Washington, D.C.
| Issuer: | Federal Home Loan Banks
|
| Amount: | $3 billion
|
| Description: | Global Notes
|
| Maturity: | Aug. 7, 2018
|
| Lead managers: | Barclays, Deutsche NY and TD Securities (USA) LLC
|
| Senior co-manager: | BofA Merrill Lynch
|
| Co-managers: | FTN Financial Securities Corp., HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, Nomura Securities, Wells Fargo Securities LLC
|
| Coupon: | 0.625%
|
| Price: | 99.792
|
| Yield: | 0.726%
|
| Spread: | Treasuries plus 12.5 bps
|
| Pricing date: | July 7
|
| Settlement date: | July 8
|
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