Nomura America plans callable range accrual step-up notes due 2026

By Marisa Wong

Madison, Wis., May 25 - Nomura America Finance, LLC plans to price callable range accrual step-up notes due June 8, 2026 linked to Libor, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be the applicable interest rate multiplied by the proportion of days on which Libor is 6% or less. The applicable interest rate is 7% per year for the first five years and will step up to 7.5% per year on June 8, 2016 and to 10% per year on June 8, 2021. Interest will be payable quarterly.

The payout at maturity will be par.

The notes are callable at par on any quarterly redemption date beginning June 8, 2012.

The notes (Cusip: 65539AAU4) will settle on June 8.

Nomura Securities International, Inc. is the agent.

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