By Toni Weeks
San Luis Obispo, Calif., July 25 – Nomura America Finance, LLC priced $25 million of callable leveraged steepener notes due July 29, 2034, according to a 424B2 filing 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 after one year.
Nomura Securities International, Inc. is the agent.
| Issuer: | Nomura America Finance, LLC
|
| Issue: | Callable leveraged steepener notes
|
| Amount: | $25 million
|
| Maturity: | July 29, 2034
|
| Coupon: | 12.15% for first year; after that 4 times reference rate, capped at 12.15% with floor of 0%
|
| Reference rate: | 30-year CMS rate over two-year CMS rate minus 25 bps
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning July 29, 2015
|
| Pricing date: | July 24
|
| Settlement date: | July 29
|
| Agent: | Nomura Securities International, Inc.
|
| Fees: | 4.24%
|
| Cusip: | 65539ABE9
|
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