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:

 

  • BNP Paribas sold a $50m 20y NC5 zero-coupon callable (non-Formosa). The EMTN matures May 2043, is callable every five years starting May 2028. IRR 5.08%. Self-led. Announced May 12.

     

  • IBRD is working on a $20m fixed callable via Citi maturing May 2033 NC2 that pays 4.82%. EMTN. Announced May 9.

     

  • Goldman Sachs is working on a self-led fixed callable maturing May 2025 NC6m that pays 5.5%. Domestic MTN.

     

  • Goldman Sachs is working on a self-led fixed callable maturing May 2026 NC6m that pays 5.55%. Domestic MTN.

     

  • Goldman Sachs is working on a self-led fixed callable maturing May 2033 NC18m that pays 5.55%. Domestic MTN.

     

  • Goldman Sachs is working on a self-led fixed callable maturing Jul 2024 NC6m that pays 5.3%. Domestic MTN.

     

  • Goldman Sachs is working on a self-led fixed callable maturing May 2028 NC1 that pays 5.6%. Domestic MTN.

     

  • JP Morgan is working on a self-led fixed callable maturing May 2028 NC1 that pays 5.05%. Domestic MTN.

     

  • JP Morgan is working on a self-led fixed callable maturing May 2025 NC6m that pays 5.1%. Domestic MTN.

     

  • JP Morgan is working on a self-led fixed callable maturing May 2027 NC6m that pays 5.15%. Domestic MTN.

     

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

     

  • JP Morgan is working on a self-led fixed callable maturing May 2026 NC6m that pays 5.1%. Domestic MTN.

     

  • JP Morgan is working on a self-led fixed callable maturing May 2033 NC1 that pays 5.58%. Domestic MTN.

     

  • JP Morgan is working on a self-led fixed callable maturing May 2025 NC6m that pays 5.1%. Domestic MTN.

     

  • JP Morgan is working on a self-led fixed callable maturing Jul 2024 NC6m that pays 5.05%. Domestic MTN.

     

  • Barclays is working on a self-led fixed callable maturing May 2027 NC6m that pays 5.15%. GMTN.

     

  • Citigroup is working on a self-led fixed callable maturing May 2028 NC1 that pays 5.1%.  Domestic MTN.

     

  • UBS is working on a self-led fixed callable maturing May 2025 NC1 that pays 4.71%.  EMTN.

     

  • UBS is working on a self-led fixed callable maturing May 2024 NC6m that pays 4.78%.  EMTN.

     

  • UBS is working on a self-led fixed callable maturing Jul 2025 NC1 that pays 5.19%.  EMTN.

     

  • Toronto Dominion is working on a self-led USD extendible with initial maturity May 2024 and then extendible to May 2025 that pays 5.25%. Canadian.

     

  • Royal Bank of Canada is working on a self-led fixed callable maturing May 2033 NC2 that pays 5.5%. GMTN.

     

  • Bank of Montreal is working on a self-led fixed callable maturing Jun 2026 NC6m that pays 5.3%. Domestic MTN.

     

  • Standard Chartered is working on a self-led step-up callable maturing May 2026 NC1 that pays 3.25% to May 2024, 3.35% to Nov 2024, 3.45% to May 2025, 3.55% to Nov 2025 and 3.65% thereafter. Domestic MTN.

 

EUR:

 

  • KfW issued €50m 10y NC1 callable due May 2033. Coupon pays 3.9% with single call in May 2024. Led by Goldman Sachs.


  • RBC issued €20m 20y NC15 callable due May 2043. Coupon pays 4.37% with single call in May 2037. Puttable in August 2023. Self-led.


  • Citigroup Global Markets issued €50m EMTN due 23 May 2033. Coupon pays 1.61 * euro HICPx. Self-led. Up to €350m of similar inflation-linked structures have been issued over the past few weeks.

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