New Issue: KfW prices $4 billion in 1.25% notes due 2012 at 99.86

By Andrea Heisinger

New York, April 15 - KfW sold $4 billion in 1.25% two-year global notes on Thursday at 99.86, according to an FWP filing with the Securities and Exchange Commission.

The notes (Aaa/AAA/AAA) were talked at mid-swaps plus 5 basis points. They are non-callable.

Bookrunners were Bank of America Merrill Lynch, BNP Paribas Securities and HSBC Securities.

Barclays Capital, Credit Suisse Securities, Deutsche Bank Securities, Mitsubishi UFJ Securities, Mizuho Securities, Morgan Stanley & Co., RBC Capital Markets, RBS Securities, TD Securities and UBS Investment Bank were co-managers.

The German-government owned development bank is based in Frankfurt.

Issuer:	KfW
Issue:	Global notes
Amount:	$4 billion
Maturity:	June 15, 2012
Bookrunners:	Bank of America Merrill Lynch, BNP Paribas Securities, HSBC Securities
Co-managers:	Barclays Capital, Credit Suisse Securities, Deutsche Bank Securities, Mitsubishi UFJ Securities, Mizuho Securities, Morgan Stanley & Co., RBC Capital Markets, RBS Securities, TD Securities, UBS Investment Bank
Coupon:	1.25%
Price:	99.86
Call:	Non-callable
Trade date:	April 15
Settlement date:	April 22
Ratings:	Moody's: Aaa
	Standard & Poor's: AAA
	Fitch: AAA
Price talk:	Mid-swaps plus 5 bps

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