By Laura Lutz
Des Moines, April 25 - KfW priced $5 million of floating-rate callable notes due May 7, 2023 via Wachovia Securities, according to a 424B3 filing with the Securities and Exchange Commission.
Interest will be payable semi-annually beginning on May 7, 2008.
For each six-month period, the interest rate will be a base rate times the proportion of calendar days on which the six-month Libor is at least 0% and not more than 6%.
The base rate will be 7% per year for the first five years. Beginning on May 7, 2013, the base rate will be 8% per year.
The notes will be callable at par on interest payment dates beginning on Nov. 7, 2008.
If they are not called early, the payout at maturity will be par.
| Issuer: | KfW
|
| Issue: | Callable notes
|
| Amount: | $5 million
|
| Maturity: | May 7, 2023
|
| Coupon: | For each six-month period, base rate times proportion of calendar days on which six-month Libor is at least 0% and not more than 6%; base rate is 7% per year for first five years; beginning on May 7, 2013, base rate is 8% per year
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | At par on interest payment dates beginning on Nov. 7, 2008
|
| Pricing date: | April 25
|
| Settlement date: | May 7
|
| Underwriter: | Wachovia Securities
|
| Fees: | 0%
|
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