Bond National Agricultural Credit Banks 2.625% ( US3133EKWK87 ) in USD

Issuer National Agricultural Credit Banks
Market price refresh price now   96.4 %  ▼ 
Country  United States
ISIN code  US3133EKWK87 ( in USD )
Interest rate 2.625% per year ( payment 2 times a year)
Maturity 25/07/2029



Prospectus brochure of the bond Federal Farm Credit Banks US3133EKWK87 en USD 2.625%, maturity 25/07/2029


Minimal amount 1 000 USD
Total amount 100 000 000 USD
Cusip 3133EKWK8
Standard & Poor's ( S&P ) rating AA+ ( High grade - Investment-grade )
Moody's rating Aa1 ( High grade - Investment-grade )
Next Coupon 25/07/2026 ( In 166 days )
Detailed description The Federal Farm Credit Banks are a government-sponsored enterprise system providing credit and other financial services to farmers, ranchers, and agricultural cooperatives.

A detailed examination of a prominent fixed-income instrument reveals key characteristics pertinent to investors. This bond, identified by ISIN US3133EKWK87 and CUSIP 3133EKWK8, is issued by the Federal Farm Credit Banks (FFCB), a critical government-sponsored enterprise (GSE) in the United States. The FFCB system comprises a network of borrower-owned cooperative lending institutions dedicated to providing a reliable source of credit to American farmers, ranchers, and rural communities, thereby supporting the nation's agricultural and rural economies. Its mission-critical role and implicit government backing underpin its strong credit profile. The bond itself carries a fixed annual interest rate of 2.625%, with coupon payments disbursed semi-annually, aligning with the common practice for such instruments. Denominated in United States Dollars (USD), this security has a total issue size of $100,000,000, with a minimum purchase increment set at $1,000. Its maturity date is firmly established as July 25, 2029, offering a defined investment horizon. Reflecting its perceived safety and the issuer's robust financial standing, the bond boasts exceptional credit ratings: an AA+ from Standard & Poor's (S&P) and an Aa1 from Moody's. These high investment-grade designations signify a very strong capacity to meet financial commitments, with very low credit risk. Investors should note its current market price of 93.351% of par, indicating that the bond is trading at a discount. This provides a potential opportunity for capital appreciation upon maturity and implies a yield to maturity that is higher than its stated coupon rate, making it an attractive consideration for those seeking stable, high-quality fixed-income exposure.







TERM SHEET

Federal Farm Credit Banks
Consolidated Systemwide

Bonds

This Term Sheet relates to the Bonds described below and should be read in conjunction with the Federal
Farm Credit Banks Consolidated Systemwide Bonds and Discount Notes Offering Circular dated
December 8, 2014, as amended and supplemented (the "Offering Circular"). The Optional Principal
Redemption Bonds described herein (the "Bonds") were sold to Barclays Capital Inc., Citigroup Global
Markets Inc. and Wells Fargo Securities, LLC (the "Dealers"), as principals, for resale to investors at
varying prices according to prevailing market prices at the time of resale as determined by the Dealers.
Terms set forth below unless otherwise defined have the meaning ascribed to them in the Offering Circular.
The Bonds are continuously callable on any day on or after July 25, 2022 as described below in
"Redemption".
Principal Amount: $100,000,000
Denomination: $1,000 and integral multiples of $1,000 in excess thereof
Issue Price: 100.000%
Issue Date & Settlement Date: July 25, 2019
Maturity Date: July 25, 2029
Interest Rate: 2.625%
Day Count Basis: Interest shall be computed on the basis of a 360-day year consisting of twelve 30-day
months.
Interest Payment Dates: Each January 25 and July 25, beginning on January 25, 2020, and the Maturity
Date
Redemption: The Bonds may be redeemed, at the Banks' option, by the Funding Corporation, as agent for
the Banks, in whole or in part, on any day on or after July 25, 2022, together with interest
accrued but unpaid, from and including the most recent date on which interest has been paid,
to but excluding the date on which such Bonds are to be redeemed (each such date on which
the Bonds are to be redeemed, a "Redemption Date") at a redemption price, after payment of
interest due on such Redemption Date, of 100% of the principal amount thereof to be
redeemed. In the event of a partial redemption, a pro rata portion of the outstanding
principal amount of each Bond will be redeemed. Notice of redemption shall not be less
than 5 Business Days prior to the Redemption Date.
Reopenings: The outstanding principal amount of this issue may be increased from time to time.
Underwriting Concession: 0.300%
Selling Concession: 0.125%
CUSIP Number: 3133EK WK8

Barclays Capital Inc.
Citigroup Global Markets Inc.
Wells Fargo Securities, LLC

The date of the Term Sheet is July 17, 2019.