Structured Notes: New deals update

Irish horse in mist 20 Nov 2020
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Recent structured note activity in USD and EUR.

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USD:

 

  • Standard Chartered is working on a self-led $31m fixed callable maturing Apr 2028 NC2 that pays 5.35%. EMTN.

     

  • Citigroup is working on a self-led fixed callable maturing Apr 2028 NC1 that pays 5%. EMTN.

     

  • Credit Agricole sold a $50m 10y NC2 fixed callable Formosa. The EMTN matures May 2033 and is callable May 2025 and annually thereafter and pays 5.45%. Self-led. Announced Apr 17.

     

  • Bank of Nova Scotia sold a $15m 10y NC4 floating callable Formosa. The EMTN matures May 2033 and is callable May 2027 and annually thereafter and pays 2y SOFR +1.6 %. Lead KGI. Announced Apr 17.

     

  • Goldman Sachs is working on a self-led fixed callable maturing May 2033 NC1 that pays 5.65%. Domestic MTN.   

     

  • Goldman Sachs is working on a self-led fixed callable maturing May 2027 NC1 that pays 5.5%. Domestic MTN.   

     

  • Goldman Sachs is working on a self-led fixed callable maturing Jun 2024 NC6m that pays 5.35%. Domestic MTN.   

     

  • Goldman Sachs is working on a self-led step-up callable maturing Apr 2030 NC1 that pays 5.375% to Apr 2025, 5.75% to Apr 2028, 6% to Apr 2029 and 7% thereafter. Domestic MTN.

     

  • Goldman Sachs is working on a self-led fixed callable maturing Apr 2036 NC1 that pays 5.35%. Domestic MTN.   

     

  • Goldman Sachs is working on a self-led fixed callable maturing Apr 2025 NC6m that pays 5.3%. Domestic MTN.   

     

  • Goldman Sachs is working on a self-led fixed callable maturing May 2024 NC6m that pays 5.25%. Domestic MTN.   

     

  • UBS is working on a self-led fixed callable maturing Jul 2024 NC1m that pays 6.28%. EMTN.

     

  • Toronto Dominion is working on a self-led fixed callable maturing Apr 2026 NC6m that pays 5.75%. GMTN.

     

  • Royal Bank of Canada sold a $15m 15y NC6 zero coupon callable (non-Formosa). The EMTN matures Apr 2038 and is callable annually starting Apr 2029. Self-led. Estimated IRR 5.7%. Announced Apr 19.

     

  • Bank of Montreal is working on a self-led fixed callable maturing Apr 2025 NC6m that pays 5.4%. Domestic MTN.

     

  • Wells Fargo is working on a self-led step-up callable maturing Apr 2026 NC1 that pays 5.1% to Apr 2024, 5.3% to Apr 2025 and 5.7% thereafter. Domestic MTN.

     

  • Wells Fargo is working on a self-led fixed callable maturing Apr 2028 NC18m that pays 5.15%. Domestic MTN.

     

  • Bank of Nova Scotia is working on a self-led fixed callable maturing Apr 2030 NC5 that pays 5%. Putable Oct 2023. EMTN.

     

  • Bank of Nova Scotia is working on a self-led fixed callable maturing Apr 2030 NC6 that pays 4.92%. Putable Oct 2023. EMTN.

     

  • Bank of Nova Scotia is working on a self-led fixed callable maturing Apr 2028 NC3 that pays 5.05%. Putable Oct 2023. EMTN.

     

  • Bank of Nova Scotia is working on a $50m fixed callable via Nomura maturing Apr 2028 NC2 that pays 5.35%. Putable Oct 2023. EMTN.

 

EUR:

 

  • NordLB issued EUR 15y NC5 callable due May 2038. Coupon pays 5.0% with annual calls from May 2028. Self-led.

     

  • Erste Bank issued €8.5m CMS-linked MTN due Apr 2033. Coupon pays 1.3 * EUR 10y, capped at 5.5% and floored at 2%. Further details unavailable. Self-led.

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