By Laura Lutz
Des Moines, April 23 - KfW priced $15 million of floating-rate callable notes due May 13, 2023 via Lehman Brothers, according to a 424B3 filing with the Securities and Exchange Commission.
Interest will be payable semiannually beginning on May 13, 2008. For each six-month period, the interest rate will be 7.25% per year times the proportion of calendar days on which the six-month Libor is at least 0% and not more than 7%.
The notes will be callable at par on interest payment dates beginning on Nov. 13, 2008.
If they are not called early, the payout at maturity will be par.
KfW is a government-owned financial institution based in Frankfurt.
| Issuer: | KfW
|
| Issue: | Callable notes
|
| Amount: | $15 million
|
| Maturity: | May 13, 2023
|
| Coupon: | For each six-month period, 7.25% times proportion of calendar days on which six-month Libor is at least 0% and not more than 7%
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | At par on interest payment dates beginning on Nov. 13, 2008
|
| Trade date: | April 23
|
| Settlement date: | May 13
|
| Underwriter: | Lehman Brothers
|
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