By Stephanie N. Rotondo
Portland, Ore., Jan. 18 - Stifel Financial Corp. priced $175 million of 6.7% $25-par senior notes due Jan. 15, 2022, according to an FWP filed with the Securities and Exchange Commission on Wednesday.
A trader said price talk was around 6.75%.
Interest will be payable quarterly on the 15th of January, April, July and October beginning April 15.
The St. Louis-based financial services firm has the option to redeem the notes, in whole or in part, beginning Jan. 15, 2015 at par plus accrued interest.
Stifel, Nicolaus & Co. Inc., Bank of America Merrill Lynch, Morgan Stanley & Co. LLC and UBS Securities LLC are the joint bookrunners. U.S. Bancorp Investments Inc. is the co-manager, and Credit Suisse Securities (USA) LLC is the joint lead manager.
The offering will settle on Monday.
Proceeds will be used for general corporate purposes.
Stifel will apply to list the notes on the New York Stock Exchange.
| Issuer: | Stifel Financial Corp.
|
| Securities: | Senior notes
|
| Amount: | $175 million
|
| Maturity: | Jan. 15, 2022
|
| Coupon: | 6.7%, payable quarterly
|
| Price: | Par of $25
|
| Call option: | Beginning Jan. 15, 2015 at par plus accrued interest
|
| Joint bookrunners: | Stifel, Nicolaus & Co. Inc., Bank of America Merrill Lynch, Morgan Stanley & Co. LLC, UBS Securities LLC
|
| Joint lead manager: | Credit Suisse Securities (USA) LLC
|
| Co-manager: | UBS Securities LLC
|
| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 23
|
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