New Issue: KfW prices $2 billion 1.875% bonds due 2011 at 99.886

By Andrea Heisinger

New York, Feb. 3 - KfW priced $2 billion 1.875% global bonds (Aaa/AAA/AAA) due March 15, 2011 Tuesday at 99.886, according to an FWP filing with the Securities and Exchange Commission.

Bookrunners were Goldman Sachs International, Merrill Lynch & Co. and RBC Capital Markets.

Co-managers were Barclays Capital Inc., BNP Paribas Securities, Citigroup Global Markets Inc., Credit Suisse Securities, HSBC Securities, J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc., Nomura Securities, Royal Bank of Scotland plc and UBS Investment Bank.

The government-owned bank is based in Frankfurt, Germany.

Issuer:	KfW
Guarantor:	Federal Republic of Germany
Issue:	Global notes
Amount:	$2 billion
Maturity:	March 15, 2011
Bookrunners:	Goldman Sachs & Co., Merrill Lynch & Co., RBC Capital Markets
Co-managers:	Barclays Capital Inc., BNP Paribas Securities, Citigroup Global Markets Inc., Credit Suisse Securities, HSBC Securities, J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc., Nomura Securities, Royal Bank of Scotland plc, UBS Investment Bank
Coupon:	1.875%
Price:	99.886
Trade date:	Feb. 3
Settlement date:	Feb. 10
Distribution:	SEC registered global notes
Ratings:	Moody's: Aaa
	Standard & Poor's: AAA
	Fitch: AAA

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