Structures - USD

USD MTNs: Malayan, TSMC Formosa callables

Malayan Banking and Taiwan Semiconductor sold large callable Formosas, the former a ZC and the latter a fixed callable. CMS steepeners saw new notes.

USD MTNs: Natixis, BMO headline ZCs; ZC supply view

ZCs saw prints ramp up this past week after a late summer lull the previous week with Natixis and BMO leading the pack. Citi’s ZC supply view.

USD MTNs: Japan Tobacco Formosa

Zero-coupon callables saw only one new entrant waddle into the pool in the past week – a $400m 30y Formosa by Japan Tobacco at par to yield 3.3%.

USD MTNs: BMO Formosa; Callable supply view

BMO left the biggest footprint in the ZC market this week. Barclays provides Formosa/ZC supply outlook based on callability.

USD MTNs: KDB, Standard Chart ZCs; Dual CMS activity ligh...

Standard Chartered and KDB launched 30y non-Formosa ZCs. Merrill Lynch and Goldman Sachs were active in CMS ranger notes.

USD MTNs: BNS, MS ZC Formosas; Steepeners

Bank of Nova Scotia and Morgan Stanley sold large ZC callable Formosas. CMS steepeners see decent activity while dual rangers went quiet.

USD MTNs: CMS rangers busy; Barclays ZC

CMS dual rangers saw a burst of activity, led by GS and Citi. Barclays prints a $100m 30y NC5 non-Formosa ZC. GS sold a SOFR FRN Formosa.

Structured Notes: New deals update

Recent structured note activity in USD and EUR.

EUR MTNs: EBRD step-callable; Sterling SPIRE

A light week for EUR structures included just a couple of callables and a handful of repacks.

USD MTNs: DB ZC Formosa; Simple callables

Deutsche came with a $200m 34y NC5 ZC Formosa that arrived late to the screens. CMS flows dropped though sources see more investor preference there.