Structured Notes: New deals update

Hiking 18 Oct 2021
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Recent structured note activity in USD, CAD and EUR.

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USD:

 

  • Credit Agricole sold a $65m 10y NC2 fixed callable Formosa. The EMTN matures Feb 2033 and is callable annually starting Feb 2025 and pays a coupon of 5.5%. Announced Jan 18. Self-led.

     

  • Citigroup is working on a self-led fixed callable maturing Jan 2028 NC1 that pays 5.5%. Domestic MTN.

     

  • IBRD sold a $25m 10y NC3m fixed callable. The GMTN matures Feb 2033 and is callable May 2023 and pays a coupon of 5.95%. Lead WFS. Announced Jan 18.

     

  • Barclays is working on a self-led fixed callable maturing Jan 2024 NC6m that pays 5.1%. GMTN.

     

  • HSBC is working on a self-led step-up callable maturing Feb 2024 NC6m that pays 4.26% to Aug 2023 and 4.36% thereafter. Domestic MTN.

     

  • Toronto Dominion is working on a self-led fixed callable maturing Feb 2024 NC6m that pays 5.1%. GMTN.

     

  • Toronto Dominion is working on a self-led fixed callable maturing Jan 2028 NC1 that pays 5.5%. GMTN.

     

  • Toronto Dominion is working on a self-led fixed callable maturing Jan 2027 NC3m that pays 5.35%. GMTN.

     

  • Toronto Dominion is working on a self-led fixed callable maturing Jan 2028 NC2 that pays 5.25%. GMTN.

     

  • Toronto Dominion is working on a self-led fixed callable maturing Jan 2026 NC1 that pays 5.1%. GMTN.

     

  • Toronto Dominion is working on a self-led fixed callable maturing Jul 2024 NC3m that pays 5.1%. GMTN.

     

  • Toronto Dominion is working on a self-led fixed callable maturing Apr 2024 NC3m that pays 5.1%. GMTN.

     

  • Royal Bank of Canada is working on a self-led step-up callable maturing Feb 2024 NC6m that pays 5% to Aug 2023 and then pays 5.1%. EMTN.

     

  • Toronto Dominion is working on a self-led USD extendible with initial maturity Jan 2024 and then extendible to Jan 2025 that pays 5.14%. Domestic MTN.

 

CAD:

 

  • Royal Bank of Canada is working on a self-led CAD extendible with initial maturity Jan 2025 and then extendible to Jan 2028 that pays 5.2%. Canadian.

     

  • Royal Bank of Canada is working on a self-led CAD extendible with initial maturity Jan 2025 and then extendible to Jan 2028 that pays 5.05%. Canadian.

 

EUR:

 

  • EBRD issued €100m 10y NC2 callable due Jan 2033. Coupon pays 3.45% with annual calls from Jan 2025 to Jan 2028. Led by Goldman Sachs.


  • CDC issued €29m 10y NC3 callable due Feb 2033. Coupon pays 3.23% with single call in Feb 2026. Led by Credit Agricole.


  • Asian Development Bank issued a €75m capped FRN Social bond. Coupon pays 3mE +315.6bps with a variable cap. Led by BNP Paribas.

 

 

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