By Marisa Wong
Morgantown, W.Va., June 7 – Jefferies Group LLC and Jefferies Group Capital Finance Inc. priced $10 million of additional fixed-to-floating-rate notes due May 31, 2034 linked to the leveraged difference between the 30-year Constant Maturity Swap rate and the two-year Constant Maturity Swap rate, according to an amended 424B2 filing with the Securities and Exchange Commission.
Jefferies priced an initial $5 million of the notes on May 8 and an additional $5 million on May 16.
The initial interest rate will be 10% per year.
Beginning May 31, 2019, the interest rate will be 7.5 times the spread of the 30-year CMS rate over the two-year CMS rate, subject to a minimum of zero and a maximum interest rate of 10% per year. Interest will be payable monthly.
The payout at maturity will be par.
Jefferies LLC is the agent.
| Issuers: | Jefferies Group LLC and Jefferies Group Capital Finance Inc.
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $20 million (increased from $5 million)
|
| Maturity: | May 31, 2034
|
| Coupon: | 10% per year initially; beginning May 31, 2019, 7.5 times the spread of the 30-year CMS rate over the two-year CMS rate, subject to a minimum of zero and a maximum interest rate of 10% per year; payable monthly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | May 8 for $5 million, May 16 for $5 million, May 25 for $10 million
|
| Settlement date: | May 31
|
| Agent: | Jefferies LLC
|
| Fees: | 3.5%
|
| Cusip: | 47233JAP3
|
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