By William Gullotti
Buffalo, N.Y., Aug. 25 – Jefferies Group LLC and Jefferies Group Capital Finance Inc. priced $12 million of senior callable fixed-to-floating notes due June 28, 2041 linked to the 30-year Constant Maturity Swap rate and the two-year Constant Maturity Swap rate, according to a 424B5 filing with the Securities and Exchange Commission.
Interest will be fixed at 5% for the first year.
Beginning Aug. 28, 2022, the interest rate will be 5.5 times the spread of the 30-year CMS rate minus the two-year CMS rate, subject to a minimum of zero and a maximum interest rate of 9% per year. Interest will be payable quarterly.
The notes are callable in whole or in part on any annual redemption date.
The payout at maturity will be par.
Jefferies LLC is the agent.
| Issuer: | Jefferies Group LLC and Jefferies Group Capital Finance Inc.
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| Issue: | Senior callable fixed-to-floating notes
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| Amount: | $12 million (may be increased prior to settlement date)
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| Maturity: | June 28, 2041
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| Coupon: | 5% for first year; after that, 5.5 times spread of 30-year CMS rate minus two-year CMS rate, subject to a minimum of zero and a maximum interest rate of 9% per year; payable quarterly
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| Price: | Variable
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| Payout at maturity: | Par
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| Call: | In whole or in part on any annual redemption date
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| Pricing date: | June 24
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| Settlement date: | June 28
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| Agent: | Jefferies LLC
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| Fees: | $22.50 per note
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| Cusip: | 47233JFH6
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