New Issue: Bank of England sells $2 billion 2.5% three-year notes at mid-swaps plus 2 bps

By Cristal Cody

Tupelo, Miss., Feb. 12 – Bank of England priced $2 billion of 2.5% three-year notes (Aa2/AA/AA) in a Rule 144A and Regulation S offering on Tuesday at mid-swaps plus 2 basis points, or a spread of Treasuries plus 11.95 bps, according to a market source.

Initial price talk was in the mid-swaps plus 5 bps area.

BofA Merrill Lynch, Barclays, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC were the bookrunners.

London-based Bank of England is the central bank of the United Kingdom.

Issuer:	Bank of England
Amount:	$2 billion
Description:	Notes
Maturity:	Feb. 22, 2022
Bookrunners:	BofA Merrill Lynch, Barclays, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC
Coupon:	2.5%
Spread:	Mid-swaps plus 2 bps, or Treasuries plus 11.95 bps
Trade date:	Feb. 12
Ratings:	Moody’s: Aa2
	S&P: AA
	Fitch: AA
Distribution:	Rule 144A and Regulation S
Price talk:	Mid-swaps plus 5 bps area

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