By Sarah Lizee
Olympia, Wash., Feb. 27 – Jefferies Group LLC priced $5 million of additional senior fixed-to-floating notes due Feb. 28, 2038 linked to the 30-year Constant Maturity Swap rate, according to a 424B5 filing with the Securities and Exchange Commission.
This brings the total issue size to $25 million. Jefferies priced the initial $20 million on Feb. 8.
Interest will be fixed at 6% for the first three years. Beginning Feb. 28, 2021, the interest rate will be equal to the 30-year CMS rate plus 75 basis points, subject to a minimum interest rate of 0% 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.
Issuer: | Jefferies Group LLC
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Issue: | Senior fixed-to-floating notes
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Amount: | $25 million (increased from $20 million)
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Maturity: | Feb. 28, 2038
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Coupon: | 6% for the first three years; beginning Feb. 28, 2021, equal to the 30-year CMS rate plus 75 bps, subject to a 0% floor and a maximum interest rate of 10% per year; payable monthly
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Price: | Variable
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Payout at maturity: | Par
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Pricing date: | Feb. 8 for $20 million, Feb. 23 for $5 million
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Settlement date: | Feb. 28
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Agent: | Jefferies LLC
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Fees: | 3.25%
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Cusip: | 47233JBJ6
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