Published on 4/29/2013 in the Prospect News Structured Products Daily.
New Issue: SunTrust prices $1.07 million collared floaters with 1.2% floor, 7% cap
By Toni Weeks
San Luis Obispo, Calif., April 29 - SunTrust Banks, Inc. priced $1.07 million of floored-capped floating-rate notes due April 30, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is equal to one-month Libor plus 50 basis points, with a minimum rate of 1.2% and a maximum rate of 7%. Interest is payable monthly.
The payout at maturity will be par.
SunTrust Robinson Humphrey, Inc. is the agent.
Issuer: | SunTrust Banks, Inc.
|
Issue: | Floored-capped floating-rate notes
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Amount: | $1,071,000
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Maturity: | April 30, 2018
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Coupon: | One-month Libor plus 50 basis points, with minimum rate of 1.2% and maximum rate of 7%; payable monthly
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Price: | Variable
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Payout at maturity: | Par
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Pricing date: | April 25
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Settlement date: | April 30
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Agent: | SunTrust Robinson Humphrey, Inc.
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Fees: | 0.88%
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Cusip: | 86802WAU2
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