Institutional New Issues

July 27, 2021

800 716-6510

Please call or EMAIL with all inquiries, including corporates and munis.

Agency New Issues MTNs (at par/100 unless designated)

FHLB 0.30 8/19/25 4 yr NC 3 mo, qtrly, step-up; settles 8/19.  The coupon is 0.30 to 8/22; 0.60 to 8/23; 1.2 to 8/24; 2.4 to 8/25.  The IRR at 100=1.115; YTC/YTW (11/19/21)=0.30.

FHLB 0.41 8/23/24, 3 yr NC 9 mo, 1x; settles 8/23

FFCB 0.09 2/2/23, 1.5 yr NC 3 mo, cont; settles 8/2

FHLB 0.35 2/18/25, 3.5 yr NC 3 mo, qtrly, step-up; settles 8/18.  The coupon is 0.35 to 2/23; 0.50 to 8/23; 0.75 to 2/24; 1.0 to 8/24; 1.5 to 2/25.  The IRR at 100=0.683; YTC/YTW (11/18/21)=0.35.

FHLB 0.27 11/9/23, 2.25 yr NC 3 mo, qtrly; settles 8/9

Bullet CDs (at par/100 unless designated)*

2y (24mo-35mo)

BMW Bk 0.30 SEM 7/31/23; settles 7/30

BMW Bk 0.45 SEM 1/30/24; settles 7/30

Industrial & Commercial Bk of China 0.25 SEM 8/18/23; settles 8/20 NEW

Sallie Mae Bk 0.30 SEM 8/4/23; settles 8/4 NEW

St Bk of India NY 0.25 SEM 7/31/23; settles 7/30

Transportation Alliance Bk (TAB 0.25 MON 1/23/24; settles 7/30

UBS Bk USA 0.30 MON 8/11/23; settles 8/11 NEW

3y (36mo-47mo)

American Plus Bk NA 0.30 MON 2/20/25; settles 8/20

BMW Bk 0.55 SEM 7/30/24; settles 7/30

Commercial Bk 0.35 MON 2/7/25; settles 8/6

Goldman Sachs Bk 0.60 SEM 8/5/24; settles 8/4

Greenstate CU FKA University of Iowa CU 0.50 MON 7/30/24; settles 7/30

Sallie Mae Bk 0.0.60 SEM 8/5/24; settles 8/4 NEW

Transportation Alliance Bk (TAB) 0.35 MON 7/30/24; settles 7/30

Transportation Alliance Bk (TAB) 0.40 MON 1/30/25; settles 7/30

UBS Bk USA 0.55 MON 8/12/24; settles 8/11 NEW

4y (48mo-59mo)

Goldman Sachs Bk 0.70 SEM 8/4/25; settles 8/4

Greenstate CU (IA) FKA Uni of Iowa CU 0.75 MON 7/30/25; settles 7/30

Live Oak Banking Co 0.55 MON 7/30/25; settles 7/30

5y (60mo)

Exchange Bk 0.60 MON 8/6/26; settles 8/6

Goldman Sachs Bk 1.00 SEM 8/4/26; settles 8/4 NEW

Greenstate CU FKA University of Iowa CU 0.95 MON 7/30/26; settles 7/30

Live Oak Banking Co 0.75 MON 7/30/26; settles 7/30

Sallie Mae Bk 1.00 SEM 8/4/26; settles 8/4 NEW

UBS Bk USA 0.95 MON 8/11/26; settles 8/11 NEW

Callable CDs (at par/100 unless designated)*

2y (24mo-35mo)

Goldman Sachs Bk 0.40 MON 8/4/23, 2 yr NC 6 mo, mo; settles 8/4

3y (36mo-47mo)

Texas Exchange Bk 0.50 MON 7/30/24, 3 yr NC 3 mo, mo; settles 7/30

4y (48mo-59mo)

Exchange Bk 0.45 MON 8/6/25, 4 yr NC 3 mo, mo; settles 8/6

JPMorgan Chase Bk 0.60 SEM 10/30/25, 4.25 yr NC 6 mo, s/a; settles 7/30

USA Alliance FCU 0.60 MON 7/30/25, 4 yr NC 6 mo, mo; settles 7/30

5y (60mo) 

First Nat'l Bk of America 0.60 MON 7/30/26, 5 yr NC 3 mo, mo; settles 7/30

JPMorgan Chase 0.70 SEM 7/30/26, 5 yr NC 6 mo, s/a, step-up; settles 7/30.  The coupon is 0.70 to 1/25; 1.0 to 1/26; 2.0 to 7/26.  The IRR at 100=0.88; YTC (01/30/22)=0.70; YTW (01/30/23)=0.70.

Texas Exchange Bk 0.75 MON 7/30/26, 5 yr NC 3 mo, mo; settles 7/30

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**American Express National Bank is the result of a merge between American Express FSB and American Express Centurion Bank...NOT separately insured from AXP FSB & AXP Centurion.

***State Bank of India, New York (FDIC Cert#33682) and State Bank of India, Chicago, IL (FDIC Cert#33664) are branches of the same banking institution and do NOT receive separate FDIC insurance coverage.

*FDIC or NCUA insured to 250,000

ANN=Annual Interest Payments or Calls

CU=Credit Union

EXAMPLE: FHLB 5 yr NC 6 mo, mo, 5y maturity, non-callable for 6 months, then monthly calls

FEDL01=US Federal Funds Effective Rate

FCPR=Federal Reserve Bank Prime Loan Rate US

FCU=Federal Credit Union (Approved Municipalities Only)

IRR=Internal Rate of Return

MO or MON=Monthly Interest Payments or Calls

NC=Non call

ON=Overnight

QTR/QTRLY=Quarterly Interest Payments or Calls

S/A or SEM=Semi-Annual Interest Payments or Calls

SOFR=Secured Overnight Financing Rate

USTMMR=US Treasury Money Market Rate

YTC=Yield to Call

YTW=Yield to Worst


This information is provided for institutional investors only. The information contained herein is based on sources and data believed to be reliable but is not guaranteed.  Information is provided by Bloomberg Professional.  This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration of qualification under the securities law of any such jurisdiction.  Past performance is no guarantee of future results.