The Federal Home Loan Banks have priced a $3 billion, 4.875%, 10-year global bond due May 17, 2017.The issue (CUSIP: 3133XKQX6) was priced at 99.071 to yield 4.994%, or 38 basis points higher than comparable Treasury notes. The settlement date is May 2. Deutsche Bank, Goldman Sachs, and Lehman Brothers are the joint lead managers for the transaction.

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