Published on 12/17/2013 in the Prospect News Structured Products Daily.
New Issue: SunTrust prices $1.35 million floored floating-rate notes
By Angela McDaniels
Tacoma, Wash., Dec. 17 - SunTrust Banks, Inc. priced $1.35 million of floored floating-rate notes due June 18, 2017, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is Libor plus 45 basis points, subject to a minimum rate of 0.5% per year. Interest is payable quarterly.
The payout at maturity will be par.
SunTrust Robinson Humphrey, Inc. is the agent.
| Issuer: | SunTrust Banks, Inc.
|
| Issue: | Floored floating-rate notes
|
| Amount: | $1,345,000
|
| Maturity: | June 18, 2017
|
| Coupon: | Libor plus 45 bps, subject to minimum rate of 0.5% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 18
|
| Agent: | SunTrust Robinson Humphrey, Inc.
|
| Fees: | Varying commissions of up to 0.2%
|
| Cusip: | 86802WBA5
|
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