By Marisa Wong
Morgantown, W.Va., July 24 – Jefferies Group LLC priced $10 million of fixed-to-floating notes due July31, 2037 linked to the leveraged difference between the 30-year Constant Maturity Swap rate and the two-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 9% for the first year. After that, the interest rate will be 9 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 9% per year. Interest will be payable monthly.
The payout at maturity will be par.
Jefferies LLC is the agent.
| Issuers: | Jefferies Group LLC
|
| Issue: | Fixed-to-floating notes
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| Amount: | $10 million
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| Maturity: | July 31, 2037
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| Coupon: | 9% for first year; after that, 9 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 9% per year; payable monthly
|
| Price: | Variable
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| Payout at maturity: | Par
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| Pricing date: | July 18
|
| Settlement date: | July 31
|
| Agent: | Jefferies LLC
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| Fees: | 3.5%
|
| Cusip: | 47233JAT5
|
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