By Angela McDaniels
Tacoma, Wash., Nov. 24 - KfW priced $10 million of floating-rate callable notes due Dec. 11, 2024 linked to Libor via Barclays Capital Inc., according to a 424B3 filing with the Securities and Exchange Commission.
The interest rate equals the base rate multiplied by the proportion of days on which Libor is 7% or less. The base rate is Libor plus 200 basis points for the first three years and 10% per year after that time. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable at par on June 11 and Dec. 11 of each year.
| Issuer: | KfW
|
| Issue: | Floating-rate callable notes
|
| Amount: | $10 million
|
| Maturity: | Dec. 11, 2024
|
| Coupon: | Base rate multiplied by proportion of days on which Libor is 7% or less; base rate is initially Libor plus 200 bps and becomes 10% per year on Dec. 11, 2012; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on June 11 and Dec. 11 of each year
|
| Pricing date: | Nov. 23
|
| Settlement date: | Dec. 11
|
| Underwriter: | Barclays Capital Inc.
|
| Fees: | None
|
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