| Pricing Day |
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Price discussions between FNC and issuer.
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Terms agreement is signed and sales period begins. |
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FNC applies for CUSIP number
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| Denominations |
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$1 million to $200 million |
| Structures |
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Fixed rate, non-callable and callable, equity linked and variable rate with maturities from 30 days to 10 years. |
| Sales Period |
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Usually 5 business days |
| Sales Closed |
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Sales period ends, FNC provides settlement letter with final quantity and master CD to issuer. |
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Issuer sends master certificate to DTC via next day mail.
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| Settlement Day/Issue Date |
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Receipt of the master certificate at DTC is confirmed. |
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Funds wired to issuer.
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| Interest Payments |
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Interest is calculated on an actual/365 basis. |
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Payment of interest can be monthly, quarterly, semi-annually, or at maturity. |
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Interest payments are made on anniversary of issue date. |
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One interest payment is wired to DTC on each due date.
|
| Maturity Date |
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One wire from issuer to DTC for total principal amount. |
| Fees |
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Negotiated on pricing day and reflected in all-in-costs detailed in the terms agreement. |
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Paid by the issuer in the form of a discount from proceeds at the time of issuance. |
