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Nomura to price callable leveraged steepener notes tied to CMS rates
By Marisa Wong
Madison, Wis., June 27 – Nomura America Finance, LLC plans to price callable leveraged steepener notes due July 2034, according to an FWP with the Securities and Exchange Commission.
The coupon will be 12.15% for the first year. After that, interest will be equal to 4 times the reference rate, subject to a cap of 12.15% and a floor of 0%. The reference rate is the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate minus the strike of 25 basis points. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable on any semiannual redemption date.
Nomura Securities International, Inc. is the agent.
The notes will price and settle in July.
The Cusip number is 65539ABE9.
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