Nomura to price callable leveraged steepener notes tied to CMS rates

By Susanna Moon

Chicago, Dec. 5 – Nomura America Finance, LLC plans to price callable leveraged steepener notes due Dec. 24, 2034, according to an FWP with the Securities and Exchange Commission.

The coupon will be 12% for the first year. After that, it will accrue at 4 times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate minus the strike of 25 basis points, up to a cap of 12%. Interest is payable semiannually and cannot be less than zero.

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.

The notes will price on Dec. 19 and settle on Dec. 24.

The Cusip number is 65539ABL3.

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