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
|
| Amount: | $1,071,000
|
| Maturity: | April 30, 2018
|
| Coupon: | One-month Libor plus 50 basis points, with minimum rate of 1.2% and maximum rate of 7%; payable monthly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | SunTrust Robinson Humphrey, Inc.
|
| Fees: | 0.88%
|
| Cusip: | 86802WAU2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
