New Issue: KfW prices $3 billion 3.5% five-year notes at 99.54

By Andrea Heisinger

Omaha, April 21 - KfW priced $3 billion 3.5% five-year global notes (Aaa/AAA/AAA) Monday at 99.54, according to an informed source and an FWP filing with the Securities and Exchange Commission.

The notes are non-callable.

Bookrunners were Citigroup Global Markets Inc., Credit Suisse Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Inc.

Co-managers were Barclays Capital Inc., Goldman Sachs & Co., HSBC Securities, JPMorgan International, Lehman Brothers Inc., Mitsubishi UFJ Securities International, Morgan Stanley & Co. Inc., Nomura International, RBC Capital Markets and the Royal Bank of Scotland.

The German-government owned development bank is based in Frankfurt.

Issuer:	KfW
Issue:	Global notes
Amount:	$3 billion
Maturity:	May 16, 2013
Bookrunners:	Citigroup Global Markets Inc., Credit Suisse Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Inc.
Co-managers:	Barclays Capital Inc., Goldman Sachs & Co., HSBC Securities, JPMorgan International, Lehman Brothers Inc., Mitsubishi UFJ Securities International, Morgan Stanley & Co. Inc., Nomura International, RBC Capital Markets, the Royal Bank of Scotland
Coupon:	3.5%
Price:	99.54
Call:	Non-callable
Trade date:	April 21
Settlement date:	April 28
Ratings:	Moody's: Aaa
	Standard & Poor's: AAA
	Fitch: AAA

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