By Sarah Lizee
Olympia, Wash., Jan. 30 – Jefferies Group LLC priced $5 million of additional senior fixed-to-floating notes due Jan. 31, 2038 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.
Jefferies priced an initial $5 million of the notes on Jan. 12.
Interest will be fixed at 9% for the first two years.
Beginning July 31, 2020, the interest rate will be eight 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: | Senior fixed-to-floating notes
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| Amount: | $10 million (increased from $5 million)
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| Maturity: | Jan. 31, 2038
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| Coupon: | 9% for first two years; after that, eight times spread of 30-year CMS rate over 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: | Jan. 12 for $5 million, Jan. 25 for $5 million
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| Settlement date: | Jan. 31
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| Agent: | Jefferies LLC
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| Fees: | 3.5%
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| Cusip: | 47233JBG2
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