| Key Features |
|
| |
|
| Common Uses |
- Macrofund balance sheet.
- Fund specific assets.
|
| |
|
| Maturities |
- Typically six months to 15 years, but always with the condition
that the Federal Home Loan Bank of Boston may cancel the advance
prior to final maturity.
|
| |
|
| Lockout Periods |
- An HLB-Option advance is offered with an initial lockout period
during which the Federal Home Loan Bank of Boston cannot cancel
the advance.
- You may choose a lockout period of three months to 10 years.
|
| |
|
| Cancellation |
- After the initial lockout period, the Federal Home Loan Bank
of Boston may cancel the advance only on a scheduled cancellation
date.
- The Federal Home Loan Bank of Boston makes no warranties as
to the circumstances under which it might cancel an advance.
- The Federal Home Loan Bank of Boston will provide notice of
cancellation in writing at least four business days before the
cancellation date.
- Some HLB-Option advances are offered with only one cancellation
date. Others are offered with a series of cancellation dates at
regular intervals, usually quarterly.
- If the Federal Home Loan Bank of Boston exercises its option
to cancel, you must repay the advance, but you may replace the advance
with a new advance. The new advance may be for any structure and
term to maturity agreed upon between you and the Bank, subject
to the Bank's Products
Policy. The rate on the new advance will be that in effect
at the time the new advance is taken.
|
| |
|
| Availability |
|
| |
|
| Disbursement |
|
| |
|
| Offering Size |
- Orders for HLB-Option advances of less than $10 million
will be aggregated with other requests for advances with identical
terms and will be executed when orders total $10 million.
- The Federal Home Loan Bank of Boston will make its final pricing
determination when the transaction can be executed.
|
| Risks |
- The Federal Home Loan Bank of Boston does not act as a financial
adviser, and members should independently evaluate the suitability
and risks of these advances. Please see the HLB
Option Advance Primer for a discussion of the risks and other
considerations associated with the HLB Option advance.
|
| |
|
| Payment of Principal and
Interest |
- Principal due at maturity and interest due monthly on the second
business day of the month.
- If canceled, principal and interest are due on the cancellation
date.
- Interest is calculated on an actual/360-day basis.
|
| |
|
| Member-Initiated Prepayment |
- Prepayable at any time, subject to a fee, which may be substantially
greater than those associated with Classic advances of the same
maturity.
|
| |
|
| More Information |
- For details on the terms and conditions of the HLB-Option advance,
consult the application form, which is available from the Money
Desk at moneydesk@fhlbboston.com
or
1-800-357-3452.
|
| |
|
