New Issue: Nationwide Building Society sells $850 million 4.85% five-year senior preferred notes

By Cristal Cody

Chicago, July 21 – Nationwide Building Society priced $850 million 4.85% senior preferred notes with a five-year tenor, according to a market source.

The notes priced Wednesday with a 170 basis points spread to Treasuries, approximately 20 bps low to talk in the 190 bps area.

BofA, Goldman Sachs, JPMorgan and Morgan Stanley were listed as bookrunners.

The mutual financial company and building society is based in Swindon, England.

Issuer:	Nationwide Building Society
Amount:	$850 million
Issue:	Senior preferred notes
Maturity:	July 27, 2027
Bookrunners:	BofA, Goldman Sachs, JPMorgan and Morgan Stanley
Coupon:	4.85%
Price:	99.908
Yield:	4.871%
Spread:	Treasuries plus 170 bps
Trade date:	July 20
Settlement date:	July 27
Ratings:	Moody’s: A1
	S&P: A+
	Fitch: A+
Cusips:	63861VAH0, 63861WAH8
Price talk:	Treasuries plus 190 bps area

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