By Devika Patel and Cristal Cody
Knoxville, Tenn., Jan. 8 – Northwestern Mutual Life Insurance Co. priced $750 million of 0.8% five-year notes at a spread of Treasuries plus 38 basis points on Thursday, according to a market source.
The notes priced tighter than guidance in the Treasuries plus 60 bps area.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the bookrunners.
Northwestern Mutual Life Insurance is a Milwaukee-based financial services and mutual insurance company.
| Issuer: | Northwestern Mutual Life Insurance Co.
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| Amount: | $750 million
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| Securities: | Notes
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| Maturity: | Jan. 14, 2026
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| Bookrunners: | Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
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| Coupon: | 0.8%
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| Spread: | Treasuries plus 38 bps
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| Trade date: | Jan. 7
|
| Price guidance: | Treasuries plus 60 bps area
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