Structured Notes: New deals update

Climber sunset 25 Mar 2021
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Recent structured note activity in USD and EUR.

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USD:

 

  • Bank of Montreal sold a $80m 30y NC5 zero coupon callable (non-Formosa). The EMTN matures Aug 2052, is callable annually from Aug 2027 and has an estimated IRR of 4.85% coupon. Puttable in Feb 2023. Self-led and announced Aug 10.

     

  • National Bank of Canada is working on a $15m fixed callable maturing Aug 2032 NC5 that pays 4.32%. GMTN.

     

  • Bank of America is working on a self-led $17m step-up callable maturing Aug 2029 NC2 that pays 4.1% to Aug 2024, 4.5% to Aug 2026, 5% to Aug 2028 and 6% thereafter. Domestic MTN.

     

  • ING Bank is working on a $50m fixed callable maturing Aug 2027 NC4 that pays 4.23%. Lead N/A. EMTN.

     

  • Goldman Sachs is working on a self-led step-up callable maturing Aug 2024 NC1 that pays 3.63% to Aug 2023 and then 4.13% thereafter. Domestic MTN.

     

  • JP Morgan is working on a self-led fixed callable maturing Nov 2023 NC6m that pays 3.9%. Domestic MTN.

     

  • Bank of America is working on a self-led fixed callable maturing Aug 2027 NC1 that pays 4.4%. Domestic MTN.

     

  • Bank of America is working on a self-led fixed callable maturing Aug 2025 NC6m that pays 4%. Domestic MTN.

     

  • Barclays is working on a self-led fixed callable maturing Aug 2024 NC1 that pays 3.89%. EMTN.

     

  • HSBC is working on a self-led $20m callable maturing Aug 2024 NC1 that pays 3.8%. EMTN.

     

  • CIBC is working on a self-led fixed callable maturing Feb 2024 NC1 that pays 3.85%. GMTN.

     

  • UBS is working on a self-led step-up callable maturing Aug 2024 NC1 that pays 4% to Aug 2023 and 4.5% thereafter. EMTN.

     

  • UBS is working on a self-led step-up callable maturing Aug 2024 NC1 that pays 3.6% to Aug 2023 and 3.8% thereafter. EMTN.

     

  • Bank of Montreal is working on a self-led fixed callable maturing Aug 2024 NC3m that pays 4.05%. Domestic MTN.

     

  • Verizon Communications is working on a fixed callable via Insperx maturing Aug 2052 NC1 that pays 4.65%. Domestic MTN.  

     

  • Verizon Communications is working on a fixed callable via Insperx maturing Aug 2029 NC6m that pays 4%. Domestic MTN. 

 

EUR:

 

  • Erste Bank issued €10m 18y NC3 callable due Aug 2040. Coupon pays 3.65% with single call in Aug 2025. Self-led.