Nomura to price callable leveraged steepener notes tied to CMS rates

By Jennifer Chiou

New York, May 13 - Nomura America Finance, LLC plans to price callable leveraged steepener notes due May 2034, according to an FWP with the Securities and Exchange Commission.

The coupon will be 11% for the first year. After that, interest will be equal to 4 times the reference rate, subject to a cap of 11% 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. Interest is payable quarterly.

The payout at maturity will be par.

The notes will be callable on any quarterly redemption date beginning in November 2014.

The notes (Cusip: 65539ABC3) are expected to price and settle in May.

Nomura Securities International, Inc. is the agent.

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