Structured Notes: New deals update

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Recent structured note activity in USD.

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USD:

 

  • Goldman Sachs sold a $10m 10y NC1 zero coupon callable (non-Formosa). The EMTN matures Mar 2033 and is callable annually starting Mar 2024. Self-led. Estimated IRR 6.55%. Announced Mar 15.

     

  • ING Bank sold a $10m 10y NC2 zero coupon callable (non-Formosa). The EMTN matures Mar 2033 and is callable annually starting Mar 2025. Lead N/A. Estimated IRR 6.04%. Announced Mar 15.

     

  • Nordic Investment Bank sold a $80m 20y NC6 zero coupon callable (non-Formosa). The EMTN matures Mar 2043 and is callable Mar 2029. Lead Deutsche. Estimated IRR 4.901%. Announced Mar 15.

     

  • Merrill Lynch sold a $35m floating Formosa. The EMTN matures Mar 2033 and is non-callable and pays a coupon of 1y ICE SOFR +165bps. Announced Mar 14.

     

  • Credit Suisse is working on a self-led inflation-linked note maturing Mar 2025 that pays CPI +3.27%, floored at 3.27%. Eurodollar. Announced Mar 10.

     

  • Goldman Sachs is working on a self-led fixed callable maturing Mar 2028 NC2 that pays 5.75%. Domestic MTN. 

     

  • Goldman Sachs is working on a self-led fixed callable maturing Mar 2026 NC1 that pays 5.8%. Domestic MTN. 

     

  • Goldman Sachs is working on a self-led fixed callable maturing Mar 2025 NC6m that pays 5.65%. Domestic MTN. 

     

  • JPM Morgan is working on a self-led fixed callable maturing Mar 2027 NC1 that pays 5.2%. Domestic MTN. 

     

  • JPM Morgan is working on a self-led fixed callable maturing Mar 2026 NC6m that pays 5.15%. Domestic MTN. 

     

  • JPM Morgan is working on a self-led fixed callable maturing Mar 2025 NC6m that pays 5.2%. Domestic MTN. 

     

  • Bank of America is working on a self-led step-up callable maturing Mar 2030 NC1 that pays 5.5% to Mar 2025, 6% to Mar 2028 and 7% thereafter. Domestic MTN.  

     

  • Santander is working on a self-led fixed callable maturing Mar 2026 NC1 that pays 4.5%. EMTN.

     

  • Toronto Dominion is working on a self-led USD extendible with initial maturity Mar 2024 and then extendible to Mar 2025 that pays 5.8%. Domestic MTN.

     

  • Royal Bank of Canada is working on a self-led fixed callable maturing Mar 2030 NC2 that pays 5.65%. GMTN.

 

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