New Issue: KfW prices $10 million Libor-linked notes via Lehman

By Jennifer Chiou

New York, Sept. 26 - KfW priced $10 million floating-rate callable notes due Oct. 17, 2022 via Lehman Brothers Inc., according to an FWP filing with the Securities and Exchange Commission.

Until Oct. 17, 2012, interest on the notes will accrue at 7% annually for each day six-month Libor remains within the reference range, which is 0% to 7%, inclusive. From Oct. 17, 2012 until Oct. 17, 2017, interest will be calculated using a 10% rate, and from Oct. 17, 2017 until maturity, interest will be calculated using a 15% rate.

The notes are callable at par on any semiannual interest payment date beginning Oct. 17, 2008.

Issuer:	KfW
Issue:	Floating-rate callable notes
Amount:	$10 million
Maturity:	Oct. 17, 2022
Coupon:	7% for each day six-month Libor is within the reference range until Oct. 17, 2012; then, 10% times the proportion of days the rate is in the range until Oct. 17, 2017 and 15% times the proportion of days the rate is in the range until maturity; payable semiannually
Reference range:	0% to 7%, inclusive
Price:	Par
Call:	Par on any interest payment date beginning Oct. 17, 2008
Payout at maturity:	Par plus accrued interest
Pricing date:	Sept. 26
Settlement date:	Oct. 17
Underwriter:	Lehman Brothers Inc.

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