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International bonds: NRW Bank, FRN 8feb2021, USD (XS1946873897)

StatusCountry of riskMaturity (option)
Amount i
This field shows outstanding face value amount for outstanding bonds
Issue ratings (M/S&P/F)
outstandingGermany**/**/****1,000,000,000 USD***/***/***
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Yield calculation

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Issue information

BorrowerNRW Bank
GuarantorNorth Rhine-Westphalia
Bond typeCoupon bonds
Placement methodOpen subscription
Placement typePublic
Issue purposeShow
Issue purpose
Generally, the net proceeds from each issue of Notes will be applied by NRW.BANK for its general corporate purposes, which include making a profit and hedging certain risks.
Par amount, integral multiple200,000 USD
Nominal of international bonds200,000 USD
Minimum settlement amount200,000 USD
Outstanding principal amount200,000 USD
Amount1,000,000,000 USD
Outstanding face value amount1,000,000,000 USD
Placement date**/**/****
Maturity date**/**/****
Redemption price100%
Floating rateYes
Reference rate3M LIBOR USD
Margin0.04
Coupon Rate*M LIBOR USD+*.**%
Day count fraction***
Coupon frequency4 time(s) per year
Interest accrual date**/**/****
ListingLuxembourg S.E.

Related issues

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Cbonds Valuation
i
Indicative bond and international bond quotes by Cbonds are calculated based on the methodology. The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
:

Trading floorDate and timeBid/ ask price (Yield)
Indicative price (Yield) i
Indicative price is used to calculate the effective yield, duration, modified duration and is calculated according to the following priority of prices: weighted average price (Average), market price (Market), closing price (Close), admitted price (Admitted), middle price (Mid), last price (Last). Indicative yield is calculated according to the following priority of yields: yield to maturity (effective), yield to put/call (effective), current yield.
G-spread
T-spread, bp i
T-spread is calculated as the difference between the issue yield and the yield on government securities of the USA, Great Britain and Germany in the corresponding issue currency and with comparable modified duration (the calculations are based on the effective yields only). The value is computed only for issues in USD, EUR, GBP.
CBONDS ESTIMATION
i
Indicative bond and international bond quotes by Cbonds are calculated based on the methodology described here http://ru.cbonds.com/organizations/docdownload/8715.
The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
Quotes are published both anonymously and publicly in the section Bond Quotes by Market Participants: http://cbonds.com/quotes/market/. These quotes are indicative only. Organizations posting the quotes have no obligations to conduct transactions at these prices. To learn the actual current prices, you need to contact the respective organization. Trading floor quotes are available at http://cbonds.com/quotes/.
10/15/2019*** / *** (*** / ***)*** (***)******Archive
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Bond Quotes by Market Participants

Market participantDate and timeBid/ask or last price
(Yield)
Baader Bank10/16/2019**.** / **.**
()
Anonymous participant 2010/11/2019***.**
()
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Price chart

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Stock exchange and OTC quotes

Trading floorDate and timeBid/ ask price (Yield)
Indicative price (Yield) i
Indicative price is used to calculate the effective yield, duration, modified duration and is calculated according to the following priority of prices: weighted average price (Average), market price (Market), closing price (Close), admitted price (Admitted), middle price (Mid), last price (Last). Indicative yield is calculated according to the following priority of yields: yield to maturity (effective), yield to put/call (effective), current yield.
G-spread
T-spread, bp i
T-spread is calculated as the difference between the issue yield and the yield on government securities of the USA, Great Britain and Germany in the corresponding issue currency and with comparable modified duration (the calculations are based on the effective yields only). The value is computed only for issues in USD, EUR, GBP.
FRANKFURT S.E.10/16/2019 20:03**.** / ***.** (* / *)**.** (*)
MUNICH SE10/16/2019 20:20**.*** / **.*** (* / *)**.*** (*)
FRANKFURT S.E.10/16/2019*** / *** (*** / ***)*** (***)******Archive
STUTTGART EXCHANGE10/16/2019*** / *** (*** / ***)*** (***)******Archive
MUNICH SE10/16/2019*** / *** (*** / ***)*** (***)******Archive
LUXEMBOURG S.E.10/15/2019*** / *** (*** / ***)*** (***)******Archive
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Bond classification

Subordinated
Sinkable bond
Perpetual
Convertible
Structured product
Restructuring
Securitization
Mortgage bonds
Trace-eligible
Covered
Foreign bonds
CDO
Sukuk
Retail bonds
Supranational bond issues
Green bonds
Non-Marketable Securities

Identifiers

ISIN / ISIN RegSXS1946873897
Common Code / Common Code RegS194687389
CFI / CFI RegSDAVUFB
FIGI / FIGI RegSBBG00N6YX0X5
WKN / WKN RegSNWB2KN
TickerNRWBK F 02/08/21 EMTN

Primary placement

Issuer rating on issue date (M/S&P/F)***/***/***
Placement**/**/****
Initial issue price (yield) ( - )

Participants

Bookrunner: Bank of America Merrill Lynch, Barclays, Deutsche Bank, RBC Capital Markets
Depository: Euroclear Bank, Clearstream Banking S.A.

Payment schedule

*****

Coupon dateActual Payment DateCoupon, %Coupon payment amount, USDRedemption of principal, USD
Show previous
1**/**/******/**/****
2**/**/******/**/*****.******,***.**
3**/**/******/**/****
4**/**/******/**/****
5**/**/******/**/****
6**/**/******/**/****
7**/**/******/**/****
8**/**/******/**/*******,***
Show following
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Issue ratings

NRW Bank, FRN 8feb2021, USD

Rating AgencyRating / OutlookScaleDate
Fitch Ratings***/***LT Int. Scale (foreign curr.)10/02/2019
Moody's Investors Service ***/***LT- foreign currency02/19/2019
S&P Global Ratings***/***Foreign Currency LT09/16/2019
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Issuer ratings

NRW Bank

Rating AgencyRating / OutlookScaleDate
Dagong Global***/***International scale rating (foreign curr.)06/07/2017
Dagong Global***/***International scale rating (local curr.)06/07/2017
Fitch Ratings***/***LT Int. Scale (foreign curr.)10/02/2019
Moody's Investors Service ***/***LT- local currency03/07/2014
Moody's Investors Service ***/***LT- foreign currency03/07/2014
S&P Global Ratings***/***Foreign Currency LT09/16/2019
S&P Global Ratings***/***Local Currency LT09/16/2019
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Surety provider ratings

North Rhine-Westphalia

Rating AgencyRating / OutlookScaleDate
Fitch Ratings***/***LT Int. Scale (local curr.)04/26/2019
Fitch Ratings***/***LT Int. Scale (foreign curr.)04/26/2019
Moody's Investors Service ***/***LT- foreign currency05/19/2017
Moody's Investors Service ***/***LT- local currency05/19/2017
S&P Global Ratings***/***Local Currency LT09/13/2019
S&P Global Ratings***/***Foreign Currency LT09/13/2019
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