Structured Notes: New deals update

Bull elephant charge 5 Oct 2021
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Recent structured note activity in USD and EUR.

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USD:

 

  • Goldman Sachs is working on a $60m fixed callable maturing Aug 2027 NC1 that pays 4.2%. Lead N/A. EMTN.

     

  • Goldman Sachs is working on a self-led step-up callable maturing Aug 2025 NC1 that pays 3.4% to Aug 2023, 3.5% to Aug 2024 and 3.6% thereafter. EMTN.

     

  • Toronto Dominion is working on a self-led fixed callable maturing Nov 2023 NC3m that pays 4.05%. GMTN.

     

  • Royal Bank of Canada is working on a self-led $13.8m CMS-linked note maturing Feb 2024 NC1 that pays 3.99% for the first year, then pays 3.99% as long as CMS10y is 0-4%. EMTN.

     

  • Royal Bank of Canada is working on a self-led $20m dual ranger maturing Aug 2029 NC2 that pays 6% for the first two years, then pays 6% as long as CMS10y is 0-5.5% and CMS2y/30y is greater than 0bps.

     

  • Standard Chartered is working on a self-led $14m fixed callable maturing Aug 2025 NC2 that pays 4.15%. EMTN.

     

  • Standard Chartered is working on a self-led $11.08m fixed callable maturing Feb 2025 NC2 that pays 3.9%. EMTN.

     

  • Bank of America is working on a self-led $22m fixed callable maturing Aug 2027 NC1 that pays 4.35%.  Domestic MTN.

     

  • Dow Chemical is working on a fixed callable via Insperx maturing Aug 2052 NC6m that pays 5%. Domestic MTN.

     

  • Dow Chemical is working on a fixed callable via Insperx maturing Aug 2032 NC6m that pays 4.4%. Domestic MTN.

     

  • Dow Chemical is working on a fixed callable via Insperx maturing Aug 2027 NC6m that pays 4.15%. Domestic MTN.

     

  • Ally Financial is working on a fixed callable via Insperx maturing Aug 2027 NC1 that pays 4.55%. Domestic MTN.

     

  • Ally Financial is working on a fixed callable via Insperx maturing Aug 2025 NC6m that pays 4.05%. Domestic MTN.

 

EUR:

 

  • Barclays Bank Ireland issued €3m 15y NC6 callable due Aug 2037. Coupon pays 3.09% with single call in Aug 2028. Self-led.


  • Muenchener Hypo issued €15m 13y NC3 callable due Aug 2035. Coupon pays 2.505% with single call in Aug 2025. Led by UBS.