By Marisa Wong and Cristal Cody
Los Angeles, Oct. 27 – New York Life Global Funding priced $500 million of 0.9% funding agreement-backed notes due Oct. 29, 2024 at a spread of 18 basis points over Treasuries on Tuesday, according to a market source.
The offering was upsized from $400 million.
Initial price talk was in the Treasuries plus 35 bps area.
Academy Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and U.S. Bancorp Investments Inc. are bookrunners for the Rule 144A and Regulation S offering.
New York Life Global is a unit of New York-based mutual insurance company New York Life Insurance Co.
| Issuer: | New York Life Global Funding
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| Amount: | $500 million
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| Description: | Funding agreement-backed notes
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| Maturity: | Oct. 29, 2024
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| Bookrunners: | Academy Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and U.S. Bancorp Investments Inc.
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| Coupon: | 0.9%
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| Spread: | Treasuries plus 18 bps
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| Pricing date: | Oct. 26
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| Price talk: | Treasuries plus 35 bps area
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| Distribution: | Rule 144A and Regulation S
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