Structured Notes: New deals update

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Recent structured note activity in USD and EUR.

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USD:

  • ING sold a $50m 20y NC8 zero coupon callable (non-Formosa). The EMTN matures Aug 2043, is callable annually from Aug 2031 and has an estimated IRR of 6.00%. Lead is unconfirmed and announced Aug 16.

     

  • Standard Chartered is working on a self-led $18m fixed callable maturing Aug 2030 NC2 that pays 6.06%. EMTN.

     

  • JP Morgan is working on a self-led fixed callable maturing Aug 2025 NC1 that pays 5.55%. EMTN.

     

  • Bank of America is working on a self-led $50m fixed callable maturing Sep 2033 NC4 that pays 5.8%. EMTN.

     

  • Citigroup is working on a self-led fixed callable maturing Aug 2026 NC1 that pays 5.75%. Domestic MTN.

     

  • Citigroup is working on a self-led fixed callable maturing Aug 2030 NC18m that pays 5.75%. Domestic MTN.

     

  • Citigroup is working on a self-led fixed callable maturing Aug 2028 NC1 that pays 5.85%. Domestic MTN.

     

  • HSBC is working on a self-led $16.29m step-up callable maturing Mar 2025 NC1 that pays 4.6% to Mar 2024, 4.65% to Aug 2024 and 4.7% thereafter. Eurodollar.

     

  • UBS is working on a fixed callable via Lego maturing Aug 2025 NC1 that pays 5.42%. EMTN.

     

  • UBS is working on a fixed callable via Lego maturing Aug 2024 NC6m that pays 5.43%. EMTN.

     

  • UBS is working on a fixed callable via Lego maturing Aug 2024 callable Jul 2024 that pays 5.38%. EMTN.

     

  • Toronto Dominion is working on a self-led $175m floating callable maturing Sep 2024 callable Jun 2024 that pays O/N SOFR +65bps. CD format. Domestic.  

     

  • Royal Bank of Canada is working on a self-led fixed callable maturing Aug 2028 NC2 that pays 5.75%. GMTN.

     

  • Royal Bank of Canada is working on a self-led fixed callable maturing Aug 2024 callable May 2024 that pays 5.6%. GMTN.

     

  • Bank of Montreal is working on a self-led fixed callable maturing Aug 2028 NC1 that pays 5.9%. Domestic MTN.

     

  • Bank of Montreal is working on a self-led fixed callable maturing Aug 2028 NC1 that pays 6.1%. Domestic MTN.

     

  • Dow Chemical is working on a fixed callable via InspereX maturing Aug 2033 NC6m that pays 5.5%. Domestic MTN.

     

  • Dow Chemical is working on a fixed callable via InspereX maturing Aug 2053 NC6m that pays 6.1%. Domestic MTN.

     

  • Dow Chemical is working on a fixed callable via InspereX maturing Aug 2028 NC6m that pays 5.2%. Domestic MTN.

 

EUR:

 

  • Credit Agricole issued €20m CMS-linked EMTN due Sep 2033. Coupon pays EUR 10s/20s +147bps, floored at 2% and capped at 7%. Self-led.

  

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