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Published on 4/2/2014 in the Prospect News Investment Grade Daily.

New Issue: New York Life Global prices $425 million 18-month floaters at Libor plus 3 bps

By Aleesia Forni

Virginia Beach, April 2 - New York Life Global Funding priced $425 million of floating-rate notes (Aaa/AA+/AAA) at par to yield Libor plus 3 basis points, according to an informed source.

Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc. were the joint bookrunners for the Rule 144A and Regulation S deal.

The unit of mutual insurance company New York Life Insurance Co. is based in New York.

Issuer:New York Life Global Funding
Amount:$425 million
Description:Notes
Maturity:Oct. 5, 2015
Bookrunners:Deutsche Bank Securities Inc., HSBC Securities (USA) Inc.
Coupon:Libor plus 3 bps
Price:Par
Yield:Libor plus 3 bps
Trade date:April 1
Settlement date:April 4
Ratings:Moody's: Aaa
Standard & Poor's: AA+
Fitch: AAA
Distribution:Rule 144A, Regulation S

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