Structured Notes: New deals update

Long road 10 Nov 2020
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Recent structured note activity in USD and EUR.

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USD:

 

 

  • Royal Bank of Canada sold a $20m 10y FRN Formosa. The EMTN matures Apr 2033 and is callable annually starting Apr 2027 and pays 2y ICE SOFR +171.5bps. Lead KGI. Announced Mar 30.

     

  • ING Bank is working on a $10m fixed callable maturing Apr 2033 NC3 that pays 5.5%. Lead N/A. EMTN.

     

  • Citigroup is working on a self-led fixed callable maturing Mar 2033 NC18m that pays 5.35%. Domestic MTN.

     

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

     

  • Citigroup is working on a self-led fixed callable maturing Apr 2028 NC1 that pays 4.8%. EMTN.

     

  • Citigroup is working on a self-led fixed callable maturing Apr 2028 NC2 that pays 5.14%. EMTN.

  • Goldman Sachs is working on a self-led fixed callable maturing Apr 2026 NC1 that pays 5.5%. Domestic MTN.

     

  • Citigroup is working on a self-led CMS-linked note maturing Apr 2033 NC1m that pays 10% for the first year and then pays a coupon tied to CMS30y. Domestic MTN.

     

  • Toronto Dominion is working on a self-led fixed callable maturing May 2024 NC8m that pays 5.35%. GMTN.

 

EUR:

 

  • Deutsche Bank issued EUR 21y NC11 callable due Apr 2044. Coupon pays 5.05% with single call in Apr 2032. Self-led.