Chicago, May 17 – Jefferies Group LLC and Jefferies Group Capital Finance Inc. priced $1 million of senior callable fixed-to-floating notes due Oct. 22, 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 10% for the first year.
Beginning Oct. 22, 2022, the interest rate will be 10 times (the spread of the 30-year CMS rate minus the two-year CMS rate minus 50 basis points), subject to a minimum of zero and a maximum interest rate of 10% 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.
|
| Issue: | Senior callable fixed-to-floating notes
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| Amount: | $1 million
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| Maturity: | Oct. 22, 2041
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| Coupon: | 10% for first year; after that, 10 times (spread of 30-year CMS rate minus two-year CMS rate minus 50 bps), subject to a minimum of zero and a maximum interest rate of 10% per year; payable quarterly
|
| 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: | Oct. 20, 2021
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| Settlement date: | Oct. 22, 2021
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| Agent: | Jefferies LLC
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| Fees: | 3%
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| Cusip: | 47233JGU6
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