New Issue: FHLB prices $250 million three-year callable step up notes at 1% initial rate

New York, Feb. 18 - Federal Home Loan Banks priced $250 million of 1% initial rate three-year callable step up notes at par, according to the agency's web site.

The bonds will mature on March 15, 2013 and have a Bermuda call.

Barclays Capital, UBS and RBS Securities are the managers.

Issuer:	Federal Home Loan Banks
Issue:	Step up notes
Amount:	$250 million
Maturity:	March 15, 2013
Coupon:	1% initial rate
Price:	Par
Call:	Bermuda call
Pricing date:	Feb. 18
Settlement date:	March 15
Underwriters:	Barclays Capital, UBS and RBS Securities

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