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New Issue-PfZ Schweiz prices a multi tranche deal
June 3, 2014 / 12:37 PM / 3 years ago

New Issue-PfZ Schweiz prices a multi tranche deal

June 3 (Reuters) -Following are terms and conditions

of a dual tranche priced on Tuesday.

Borrower Pfandbriefzentrale Der Schweizerischen

Kantonalbanken AG (PFZ Schweiz)

****

Tranche 1

Issue Amount 392 million Swiss francs

Maturity Date April 6, 2020

Coupon 0.5 pct

Issue price 100.759

Reoffer price 100.59

Spread Flat

Underlying govt bond Mid-Swaps

ISIN CH0245863920

****

Tranche 2

Issue Amount 200 million Swiss francs

Maturity Date February 5, 2029

Coupon 1.5 pct

Issue price 100.363

Reoffer price 99.488

Spread 7 basis points

Underlying govt bond Over Mid-Swaps

ISIN CH0245863987

****

Tranche 3

Issue Amount 553 million Swiss francs

Maturity Date April 28, 2023

Coupon 1.125 pct

Issue price 101.978

Reoffer price 101.353

Yield 0.965 pct

Spread 3 basis points

Underlying govt bond Over Mid-Swaps

ISIN CH0245863946

****

Common Terms

Payment Date June 20, 2014

Lead Manager(s) SKB

Ratings Aaa (Moody‘s)

Listing SIX

Full fees Undisclosed

Denoms (K) 5

Governing Law Swiss

Notes Launched under issuer’s DIP programme

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