Obligation NaviCorp 5.4% ( US78442FAT57 ) en USD

Société émettrice NaviCorp
Prix sur le marché 100 %  ▼ 
Pays  Etas-Unis
Code ISIN  US78442FAT57 ( en USD )
Coupon 5.4% par an ( paiement semestriel )
Echéance 25/04/2023 - Obligation échue



Prospectus brochure de l'obligation Navient US78442FAT57 en USD 5.4%, échue


Montant Minimal 1 000 USD
Montant de l'émission 15 000 000 USD
Cusip 78442FAT5
Notation Standard & Poor's ( S&P ) N/A
Notation Moody's Ba3 ( Spéculatif )
Description détaillée Navient est une société américaine de gestion de prêts étudiants et de services financiers aux consommateurs, issue de la scission de Sallie Mae en 2014.

L'Obligation émise par NaviCorp ( Etas-Unis ) , en USD, avec le code ISIN US78442FAT57, paye un coupon de 5.4% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 25/04/2023

L'Obligation émise par NaviCorp ( Etas-Unis ) , en USD, avec le code ISIN US78442FAT57, a été notée Ba3 ( Spéculatif ) par l'agence de notation Moody's.







file:///G|/Tamara/164106.htm
424B3 1 a2111086z424b3.htm 424B3
Pricing Supplement No. 14 dated May 6, 2003

Filed under Rule 424(b)
(to Prospectus dated November 18, 2002
(3)
and Prospectus Supplement dated November 18, 2002)
File No. 333-90316
SLM Corporation
Medium Term Notes, Series A
Due 9 Months or Longer From the Date of Issue
Principal Amount: $15,000,000

Floating Rate Notes: o

Fixed Rate Notes:
ý
Original Issue
May 13, 2003

Closing Date: May 13, 2003
CUSIP Number:
78442F AT5
Date:
Maturity Date:
April 25, 2023
Option to Extend
Specified Currency: U.S. Dollars
Maturity:
ý No



If Yes, Final


Maturity Date:
o Yes
Redeemable in whole or in part at the option of o No Redemption Price:
100% of the principal
the Company:
amount of the Notes
plus accrued and unpaid
interest to the date fixed
for redemption.

ý Yes Redemption Dates:
April 25, 2007 and each
October 25th and
April 25th therafter
during the term of the
Notes upon at least 30
days but not more than
90 days written notice
to holders of the Notes.
Repayment at the option of the Holder:
ý No Repayment Price:
Not Applicable.

o Yes Repayment Dates:
Not Applicable.
Applicable to Fixed Rate Notes Only:
Interest Rate:

Interest Payment
Each April 25th and October 25th during the term
For the period from and including
Dates:
of the Notes unless earlier redeemed, subject to
the Closing Date to but excluding
adjustment in accordance with the following
April 25, 2007, the Interest Rate on
business day convention, beginning October 27,
the Notes shall be 5.15%.
2003.
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For the period from and including


April 25, 2007 to the Maturity Date
or the Redemption Date, whichever
is earlier, the Interest Rate on the
Notes shall be 5.40%.
Interest Accrual Method: 30/360
Interest Periods:
From and including the Closing Date or each
April 25th or October 25th thereafter, as the case
may be, to and including the next succeeding
April 24th or October 24th, as the case may be,
unless earlier redeemed, with no adjustment to
period end dates for accrual purposes.
Merrill Lynch & Co.
May 6, 2003
Form:
Book-entry.
Denominations:
$1,000 minimum and integral multiples of $1,000 in excess thereof.
Trustee:
JPMorgan Chase Bank, formerly known as The Chase Manhattan Bank.
Agents:
The following agent is acting as underwriter in connection with this issuance.

Agents

Principal Amount of Notes

Merrill Lynch, Pierce, Fenner & Smith Incorporated

$15,000,000
Issue Price:
100.00%.
Agents' Commission: 2.35%.
Net Proceeds to
97.65%.
Issuer:
Net Proceeds:
$14,647,500.
Concession:
N/A
Reallowance:
N/A
CUSIP Number:
78442F AT5
ISIN Number:
US78442F AT5
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The Underwriter has arranged a swap in connection with the Notes and may have received compensation for
arranging the swap transaction.
Additional Information:
The last sentence of the first paragraph contained in the section titled "Supplemental Plan of Distribution" in the
Prospectus Supplement on page S-26 is hereby amended by this pricing supplement.
Risk Factors:
Upon issuance of the Notes, the Notes will not have an established trading market. SLM
Corporation cannot assure holders of the Notes that a trading market will ever develop for the
Notes, or, if one develops, that it will be maintained. In addition to the creditworthiness of
SLM Corporation, many factors affect the trading market for the Notes and their trading value.
These factors include: (i) the method of calculating the principal and interest in respect of the
Notes, (ii) the time remaining to the maturity of the Notes, (iii) the total outstanding amount of
any particular issuance of Notes or of SLM Corporation's Notes in total, (iv) any redemption
features of the Notes and (v) the level, direction and volatility of interest rates for securities
like the Notes and in general.

SLM Corporation may choose to redeem the Notes on or after the redemption date indicated on
the cover hereof. In the event that the prevailing interest rates are relatively low when SLM
Corporation chooses to redeem the Notes, the holders of the Notes may not be able to reinvest
the redemption proceeds in a comparable security with a yield as high as that of the Notes
being redeemed. The ability of SLM Corporation to redeem the Notes before the maturity date
may affect the market value of the Notes at any time when potential purchasers believe that
SLM Corporation is likely to redeem Notes.

The credit ratings of SLM Corporation's senior unsubordinated indebtedness, which includes
the Notes, may not reflect the potential impact of all risks related to any trading market for the
Notes or their trading value. In addition, changes or anticipated changes in SLM Corporation's
credit ratings generally will affect any trading market for the Notes or their trading value.
Obligations of SLM Corporation and any subsidiary of SLM Corporation are not guaranteed
by the full faith and credit of the United States of America. Neither SLM Corporation nor any
subsidiary of SLM Corporation (other than Student Loan Marketing Association) is a government-
sponsored enterprise or an instrumentality of the United States of America.
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