New Issue: Jefferies sells $5.81 million fixed-to-floaters tied to Libor

By Sarah Lizee

Olympia, Wash., Dec. 10 – Jefferies Group LLC priced $5.81 million of senior fixed-to-floating notes due Nov. 29, 2034 linked to Libor, according to a 424B5 filing with the Securities and Exchange Commission.

Interest will be fixed at 5% until Nov. 29, 2022. After that, the interest rate will be equal to 3 times Libor, subject to a maximum interest rate of 5% and a minimum interest rate of 0%. Interest will be payable quarterly.

The payout at maturity will be par.

Jefferies LLC is the agent.

Issuer:	Jefferies Group LLC
Issue:	Senior fixed-to-floating notes
Underlying rate:	Libor
Amount:	$5,807,000
Maturity:	Nov. 29, 2034
Coupon:	5% until Nov. 29, 2022; after that, 3 times Libor, subject to a floor of 0% and a cap of 5%; payable quarterly
Price:	Variable
Payout at maturity:	Par
Pricing date:	Nov. 25
Settlement date:	Nov. 29
Agent:	Jefferies LLC
Fees:	2%
Cusip:	47233JCR7

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