| Key Features
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- Adjustable rate
- Indexed
- Nonamortizing
- Long-term maturity
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| Common Uses
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- Book a long-term liability, while maintaining maximum
repayment flexibility and paying a short-term rate
with a modest premium.
- Extend maturities of liabilities, but maintain
rate sensitivity and prepayment flexibility; dependency
ratio not affected.
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| Maturities |
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| Index |
- Classic advance with a term of one week through
six months.
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| Rate-Reset
Frequency |
- One week through six months (the rate reset frequency
is tied to the term of the Classic advance to which
the STILT is indexed).
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| Disbursement
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- Next-day if requested by 3 p.m.
- Same-day possible if you call by noon.
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| Payment of
Principal and Interest |
- Principal due at maturity and interest due monthly
on the second business day of the month.
- Interest is calculated on an actual/360-day basis.
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| Prepayment |
- Prepayable, in full or in part, without fee on any
rate-reset date with two business-days' notice.
- Prepayable on any date other than a rate-reset
date, subject to a fee.
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| Forward Rate
Commitments |
- Lock in a guaranteed rate up to two years before
disbursement.
- Our forward rate commitment adds a premium to the
current rate.
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| More Information |
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