By Marisa Wong
Morgantown, W.Va., Aug. 3 – Jefferies Group LLC priced $30 million of additional fixed-to-floating notes due July 31, 2037 linked to the leveraged difference between the 30-year Constant Maturity Swap rate and the two-year CMS rate, according to a 424B2 filing with the Securities and Exchange Commission.
Jefferies priced an initial $10 million of the notes on July 18.
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.
| Issuer: | Jefferies Group LLC
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| Issue: | Fixed-to-floating notes
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| Amount: | $40 million, increased from $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
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| Price: | Variable
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| Payout at maturity: | Par
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| Pricing date: | July 18 for $10 million, July 26 for $30 million
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| Settlement date: | July 31
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| Agent: | Jefferies LLC
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| Fees: | 3.5%
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| Cusip: | 47233JAT5
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