| Key Features |
- Adjustable rate
- Indexed
- Nonamortizing
- Long-term maturity
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| Common Uses |
- 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 |
- 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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