New Issue: KfW sells $4 billion 3.5% five-year notes at 99.973

By Andrea Heisinger

New York, March 3 - KfW priced $4 billion of 3.5% five-year global notes Tuesday at 99.973, according to an FWP filing with the Securities and Exchange Commission.

The notes (Aaa/AAA/AAA) are non-callable.

Bookrunners were Credit Suisse Securities, J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc.

Co-managers were Barclays Capital Inc., BNP Paribas Securities, Citigroup Global Markets Inc., Goldman Sachs & Co., HSBC Securities, Nomura Securities, RBC Capital Markets, RBS Securities and TD Securities.

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

Issuer:	KfW
Guarantor:	Federal Republic of Germany
Issue:	Global notes
Amount:	$4 billion
Maturity:	March 10, 2014
Bookrunners:	Credit Suisse Securities, J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc.
Co-managers:	Barclays Capital Inc., BNP Paribas Securities, Citigroup Global Markets Inc., Goldman Sachs & Co., HSBC Securities, Nomura Securities, RBC Capital Markets, RBS Securities, TD Securities
Coupon:	3.5%
Price:	99.973
Call:	Non-callable
Trade date:	March 3
Settlement date:	March 10
Ratings:	Moody's: Aaa
	Standard & Poor's: AAA
	Fitch: AAA

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