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From: Austin Dutton [mailto:[email protected]]
Sent: Monday, June 15, 2009 8:26 PM
Subject: Bank Hapo DD Supplement
Sent: Monday, June 15, 2009 8:26 PM
Subject: Bank Hapo DD Supplement
We only have 150k of these available.
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BANK HAPOALIM - FDIC INSURED - DEATH PUT
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ISSUER : BANK HAPOALIM (NEW YORK BRANCH)
INSURED : FDIC INSURED
RATING : S&P A- / MOODY'S A1
DESCRIPTION : 15 YEAR, NON-CALL 1 YEAR STEEPENER CERTIFICATE OF DEPOSIT
AMOUNT : $ TBD MM (SUBJECT TO PRIOR SALE)
DENOMINATIONS : $10,000 MINIMUM / $1,000. INCREMENTS THEREAFTER
MATURITY : 04/30/2024 (15 YEARS)
CALLABLE : 04/30/2010 ( 1 YEAR) AND QUARTERLY THEREAFTER
SETTLEMENT : 04/30/2009
COUPON : 7.00%
7.00% INITIAL COUPON.
7.00% COUPON IS FIXED AND PAYABLE FOR THE FIRST YEAR.
YEARS 2 - 15, THE COUPON IS ADJUSTABLE ACCORDING TO THE
STATED FORMULA.
FORMULA : 4.50 X (10 YEAR CMS SWAP RATE - 2 YEAR CMS SWAP RATE)
COUPON CAP : 8.00%
COUPON FLOOR : 0.00%
PAYMENT DATES : QUARTERLY PAY 4/30, 8/30, 12/30, 1/30 OR NEXT BUSINESS DAY
IF SUCH DATE IS A NON-BUSINESS DAY.
ADJUSTS : QUARTERLY
REDEMPTION : THIS BOND HAS AN EARLY REDEMPTION FEATURE, OFTEN REFERRED
TO AS AN ESTATE FEATURE OR DEATH PUT FEATURE.
"UNDER CERTAIN CICUMSTANCES, IF YOU BECOME THE OWNER OF CDs
OR OTHER DEPOSITS AT AN ISSUER BECAUSE ANOTHER DEPOSITOR
DIES, BEGINNING SIX MONTHS AFTER THE DEATH OF THE DEPOSITOR
THE FDIC WILL AGGREGATE THOSE DEPOSITS FOR PURPOSES OF THE
MAXIMUM APPLICABLE DEPOSIT INSURANCE AMOUNT WITH ANY OTHER
CDs OR DEPOSITS THAT YOU OWN IN THE SAME INSURABLE CAPACITY
AT THE ISSUER. "
INCOME TAX : "VARIABLE RATE AND STRUCTURED CDs MAY BE TREATED AS ISSUED
WITH ORIGINAL ISSUE DISCOUNT ("OID")."
CUSIP: 06251AMU1
BANK HAPOALIM - FDIC INSURED - DEATH PUT
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ISSUER : BANK HAPOALIM (NEW YORK BRANCH)
INSURED : FDIC INSURED
RATING : S&P A- / MOODY'S A1
DESCRIPTION : 15 YEAR, NON-CALL 1 YEAR STEEPENER CERTIFICATE OF DEPOSIT
AMOUNT : $ TBD MM (SUBJECT TO PRIOR SALE)
DENOMINATIONS : $10,000 MINIMUM / $1,000. INCREMENTS THEREAFTER
MATURITY : 04/30/2024 (15 YEARS)
CALLABLE : 04/30/2010 ( 1 YEAR) AND QUARTERLY THEREAFTER
SETTLEMENT : 04/30/2009
COUPON : 7.00%
7.00% INITIAL COUPON.
7.00% COUPON IS FIXED AND PAYABLE FOR THE FIRST YEAR.
YEARS 2 - 15, THE COUPON IS ADJUSTABLE ACCORDING TO THE
STATED FORMULA.
FORMULA : 4.50 X (10 YEAR CMS SWAP RATE - 2 YEAR CMS SWAP RATE)
COUPON CAP : 8.00%
COUPON FLOOR : 0.00%
PAYMENT DATES : QUARTERLY PAY 4/30, 8/30, 12/30, 1/30 OR NEXT BUSINESS DAY
IF SUCH DATE IS A NON-BUSINESS DAY.
ADJUSTS : QUARTERLY
REDEMPTION : THIS BOND HAS AN EARLY REDEMPTION FEATURE, OFTEN REFERRED
TO AS AN ESTATE FEATURE OR DEATH PUT FEATURE.
"UNDER CERTAIN CICUMSTANCES, IF YOU BECOME THE OWNER OF CDs
OR OTHER DEPOSITS AT AN ISSUER BECAUSE ANOTHER DEPOSITOR
DIES, BEGINNING SIX MONTHS AFTER THE DEATH OF THE DEPOSITOR
THE FDIC WILL AGGREGATE THOSE DEPOSITS FOR PURPOSES OF THE
MAXIMUM APPLICABLE DEPOSIT INSURANCE AMOUNT WITH ANY OTHER
CDs OR DEPOSITS THAT YOU OWN IN THE SAME INSURABLE CAPACITY
AT THE ISSUER. "
INCOME TAX : "VARIABLE RATE AND STRUCTURED CDs MAY BE TREATED AS ISSUED
WITH ORIGINAL ISSUE DISCOUNT ("OID")."
CUSIP: 06251AMU1
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