New Issue: Nationwide Building Society sells $1.25 billion 6.557% notes due 2027

By Marisa Wong and Cristal Cody

Los Angeles, Oct. 12 – Nationwide Building Society sold on Wednesday $1.25 billion of 6.557% medium-term notes due Oct. 18, 2027 (A3/BBB+) at Treasuries plus 180 basis points, according to a market source.

The Rule 144A and Regulation S notes are non-callable for three years.

Nationwide Building is a Swindon, U.K.-based mortgage lender.

Issuer:	Nationwide Building Society
Amount:	$1.25 billion
Issue:	Medium-term notes
Maturity:	Oct. 18, 2027
Coupon:	6.557% initial rate, resets starting Oct. 18, 2026 to SOFR plus 191 bps
Price:	Par
Yield:	6.557%
Spread:	Treasuries plus 180 bps
Call:	Non-callable for three years
Pricing date:	Oct. 11
Settlement date:	Oct. 18
Ratings:	Moody’s: A3
	S&P: BBB+
	Fitch: A
Distribution:	Rule 144A and Regulation S
Cusip:	63861VAJ6, 63861WAJR

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