New Issue: Germany's KfW sells $4 billion 2.625% five-year notes at 99.925

By Andrea Heisinger

New York, Feb. 9 - German development bank KfW sold $4 billion of 2.625% five-year global notes on Wednesday at 99.925, according to an FWP filing with the Securities and Exchange Commission.

The notes (Aaa/AAA/AAA) are non-callable. They are guaranteed by the Federal Republic of Germany.

Barclays Capital Inc., Deutsche Bank Securities Inc. and Morgan Stanley & Co. Inc. were the bookrunners.

Co-managers were BNP Paribas Securities Corp., Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., HSBC Securities (USA) LLC, Mitsubishi UFJ Securities International plc, RBC Capital Markets Corp., TD Securities (USA) LLC and UBS Securities LLC.

The issuer is based in Frankfurt.

Issuer:	KfW
Guarantor:	Federal Republic of Germany
Issue:	Global notes
Amount:	$4 billion
Maturity:	Feb. 16, 2016
Bookrunners:	Barclays Capital Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. Inc.
Co-managers:	BNP Paribas Securities Corp., Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., HSBC Securities (USA) LLC, Mitsubishi UFJ Securities International plc, RBC Capital Markets Corp., TD Securities (USA) LLC, UBS Securities LLC
Coupon:	2.625%
Price:	99.925
Call:	Non-callable
Trade date:	Feb. 9
Settlement date:	Feb. 16
Ratings:	Moody's: Aaa
	Standard & Poor's: AAA
	Fitch: AAA

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