By Angela McDaniels
Tacoma, Wash., Oct. 28 - SunTrust Banks, Inc. priced $1.45 million of contingent coupon notes due Oct. 31, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the initial level on an annual observation date, the notes will pay a coupon. Otherwise, no coupon will be paid for that year.
The observation dates are Oct. 26, 2011, Oct. 26, 2012, Oct. 28, 2013, Oct. 27, 2014 and Oct. 26, 2015. The coupon is 4% in years one and two, 5% in years three and four and 6% in year five.
The payout at maturity will be par plus 6%.
SunTrust Robinson Humphrey Inc. is the agent.
| Issuer: | SunTrust Banks, Inc.
|
| Issue: | Contingent coupon notes
|
| Underlying index: | S&P 500
|
| Amount: | $1.45 million
|
| Maturity: | Oct. 31, 2016
|
| Coupon: | 4% in years one and two, 5% in years three and four, 6% in year five; in each case, coupon will be paid only if index closes at or above initial level on applicable annual observation date; payable annually
|
| Price: | Par
|
| Payout at maturity: | Par plus 6%
|
| Initial index level: | 1,185.64
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 29
|
| Agent: | SunTrust Robinson Humphrey Inc.
|
| Fees: | 2.25%
|
| Cusip: | 86802WAA6
|
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