New Issue: KfW sells $3 billion 2.75% five-year notes at Treasuries plus 44.25 bps

By Andrea Heisinger

New York, Oct. 14 - KfW priced $3 billion of 2.75% five-year global notes on Wednesday to yield Treasuries plus 44.25 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.

The notes (Aaa/AAA/) priced at 99.926.

Barclays Capital Inc., J.P. Morgan Securities Inc. and RBC Capital Markets Corp. ran the books.

Co-managers were BNP Paribas Securities Corp., Citigroup Global Markets, Credit Suisse Securities, Deutsche Bank Securities, DZ Bank AG, HSBC Securities, Morgan Stanley, Royal Bank of Scotland, TD Securities and UBS Investment Bank.

The bank is based in Frankfurt.

Issuer:	KfW
Issue:	Global notes
Amount:	$3 billion
Maturity:	Oct. 21, 2014
Bookrunners:	Barclays Capital Inc., J.P. Morgan Securities Inc., RBC Capital Markets Corp.
Co-managers:	BNP Paribas Securities Corp., Citigroup Global Markets, Credit Suisse Securities, Deutsche Bank Securities, DZ Bank AG, HSBC Securities, Morgan Stanley, Royal Bank of Scotland, TD Securities, UBS Investment Bank
Coupon:	2.75%
Price:	99.926
Spread:	Treasuries plus 44.25 bps
Trade date:	Oct. 14
Settlement date:	Oct. 21
Ratings:	Moody's: Aaa
	Standard & Poor's: AAA

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