Jefferies plans step-up callable notes due 2026 with 3.25% initial rate

By Susanna Moon

Chicago, Aug. 11 – Jefferies Group LLC plans to price step-up callable notes due Feb. 28, 2026, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is 3.25% initially, stepping up to 4% on Feb. 28, 2021. Interest is payable semiannually.

The notes will be callable at par on Feb. 28, 2021.

The payout at maturity will be par.

Jefferies LLC is the agent.

The notes will settle on Aug. 31.

The Cusip number is 47233JAW8.

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