Structured Notes: New deals update

Balloons 9 Jul 2020
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Recent structured note activity in USD and EUR.

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USD:

 

  • Goldman Sachs is working on a self-led fixed callable maturing Feb 2028 NC1 that pays 5.25%. Domestic MTN.

     

  • Toronto Dominion is working on a self-led $82.5m fixed callable maturing Jan 2024 NC6m that pays 5.3%. CD format. Domestic.  

     

  • Societe Generale is working on a self-led CMS steepener maturing Feb 2038 NC1 that pays 10% for the first year, then pays 10*(CMS2y/30y), capped at 12% and floored at zero. Conditional on the S&P 500, Euro Stoxx Bank Index and Nasdaq remaining at or above 60% of an initial index level throughout the life of the note. Domestic MTN.

     

  • Ally Financial is working on a fixed callable via Insperx maturing Feb 2033 NC6m that pays 6.25%. Domestic MTN.

     

  • Ally Financial is working on a fixed callable via Insperx maturing Feb 2026 NC6m that pays 5.9%. Domestic MTN.

 

EUR:

 

  • Bank of Montreal issued €10m 16y NC8 callable due Jan 2039. Coupon pays 4.12% with single puttable call in jan 2031. Led by UBS.

     

  • Rentenbank issued €25m 7y NC3 callable due Jan 2030. Coupon pays 3.02% with single call in Jan 2026. Led by DZ Bank.