Structured Notes: New deals update

Sydney
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Recent structured note activity in USD and EUR.

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USD:

 

  • Asian Development Bank sold a $50m fixed callable via JPM maturing Dec 2027 NC2 that pays 5%. Announced Nov 23. EMTN.

     

  • HSBC is working on a self-led step-up callable maturing Dec 2024 NC6m that pays 4.7% to Jun 2023, 4.8% to Dec 2023, 4.9% to Jun 2024 and 5% thereafter. Eurodollar.

     

  • CIBC is working on a self-led fixed callable maturing Dec 2025 NC1 that pays 5.45%. GMTN.

     

  • CIBC is working on a self-led fixed callable maturing Dec 2024 NC1 that pays 5.2%. GMTN.

 

EUR:

 

  • Goldman Sachs issued €5m credit-linked CMS due Dec 2028. Coupon pays EUR 1y, floored at 4.35% and capped at 8%. Credit-linked to SocGen. Self-led.


  • DZ Bank issued EUR 7y NC3 callable due Jan 2028. Coupon pays 2.7% until single call in Jan 2025 and then 3.2% until maturity. Self-led.