Structured Notes: New deals update

Japan Street Night
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Recent structured note activity in USD and EUR.

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USD:

 

  • Bank of America is working on a self-led $17m step-up callable maturing Apr 2038 NC3 that pays 5% to Apr 2026, 5.25% to Apr 2030, 6% to Apr 2034 and 6.5% thereafter. Domestic MTN.

     

  • Merrill Lynch sold a $30m 10y NC4 fixed callable Formosa. The EMTN matures May 2033, is callable annually from May 2027 and pays a 5.20% coupon. Lead is Shanghai Commercial and announced April 24.

     

  • Citigroup is working on a self-led fixed callable maturing May 2028 NC1 that pays 4.95%. EMTN.

     

  • Citigroup is working on a self-led fixed callable maturing May 2025 NC1 that pays 4.8%. EMTN.

     

  • Citigroup is working on a self-led fixed callable maturing Apr 2033 NC18m that pays 5.4%. Domestic MTN.

     

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

     

  • Societe Generale is working on a self-led fixed callable maturing Jul 2028 NC1 that pays 5.22%. EMTN.

     

  • HSBC is working on a self-led $50m fixed callable maturing May 2028 NC1 that pays 5.2%. Eurodollar.

     

  • UBS is working on a self-led step-up callable maturing May 2024 NC6m that pays 4.92% to Nov 2023 and 4.92% thereafter. EMTN.

     

  • Royal Bank of Canada is working on a self-led fixed callable maturing May 2024 NC9m that pays 5.3%. EMTN.  

     

  • Royal Bank of Canada is working on a self-led $15m fixed callable maturing Jul 2024 NC1 that pays 5.05%. EMTN.  

     

  • Ally Financial is working on a fixed callable via InspereX maturing May 2033 NC6m that pays 7%. Domestic MTN.

     

  • Ally Financial is working on a fixed callable via InspereX maturing May 2026 NC6m that pays 6.55%. Domestic MTN.

 

EUR:

 

  • SPIRE issued €40m 16y NC4 callable repack due Jun 2039. Coupon pays 4.12% with single call in Jun 2027. Backed by unspecified repack. Led by UBS.


  • DZ Bank issued EUR 3y NC1 callable due May 2026. Coupon pays 4.05% with single call in May 2024. Self-led.

 

 

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