FHLBank System Plans to Price $3 Billion Global

The Federal Home Loan Bank System has a new $3 billion, two-year global note in the works that it has plans to price Thursday.

Deutsche Bank, JPMorgan and Morgan Stanley will be lead managers for the issue (CUSIP 313381YP4) and HSBC will be the senior co-manager.

There also will be six co-managers and a distribution group.

The new issue has semi-annual interest payments set for Feb. 20 and Aug. 20 yearly with the transaction maturing on Feb. 20, 2015.