New Issue: Nationwide Building prices $1 billion of 3.96% notes due 2030 at 185 bps spread

By Cristal Cody

Tupelo, Miss., July 12 – Nationwide Building Society priced $1 billion of 3.96% notes due July 18, 2030 (Baa1/A/A) on Thursday at a spread of 185 basis points over Treasuries, according to a market source.

Initial price talk was in the Treasuries plus 200 bps area.

Barclays, Citigroup Global Markets Inc., NatWest Markets plc and Morgan Stanley & Co. LLC were the lead managers.

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

Issuer:	Nationwide Building Society
Amount:	$1 billion
Description:	Notes
Maturity:	July 18, 2030
Bookrunners:	Barclays, Citigroup Global Markets Inc., NatWest Markets plc and Morgan Stanley & Co. LLC
Coupon:	3.96%
Spread:	Treasuries plus 185 bps
Call feature:	Callable one year prior to maturity
Trade date:	July 11
Ratings:	Moody’s: Baa1
	S&P: A
	Fitch: A
Distribution:	Rule 144A, Regulation S
Price guidance:	Treasuries plus 200 bps area

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