Investment Grade Loan Market

Market Commentary: With the forward calendar of loans in marketremaining relatively stable from week to week, the investment gradeloan market appears to have established its pace for 2012. Comparedwith last year, the volume of transactions is significantly lower as manycorporate borrowers rushed to refinance in 2011. Faced with fewertransactions, it would appear that arrangers are very selectivelybeginning to test lower pricing levels in order to win mandates in a verycompetitive landscape. BBB-rated cable operator Time Warner Cablerecently completed a new $3.5 billion, 5-year revolver to replace anexisting $4.0 billion, 3-year facility that was completed in November2010. Undrawn pricing of 15 bps represents a new low for BBBborrowers and a significant reduction from the 25 bps the companypaid on the existing facility. Moreover, drawn pricing declined fromL+150 to L+125. One consequence of this competitive environment isthe reevaluation by many large lenders of their relationship returns.Market watchers were surprised when the existing administrative agentand lead-left bookrunner on the Time Warner deal walked away fromthe new transaction. With ten bookrunners all holding the same amountof the existing deal coupled with a down-sized facility, the company hada large stable of lenders who were prepared to fill the gap.

This information represents the opinion of U.S. Bancorp and is not intended to be a forecast of future events, a guarantee of future results or investment advice. It is not intended toprovide specific advice or to be construed as an offering of securities or recommendation to invest. The factual information provided has been obtained from sources believed to bereliable, but is not guaranteed as to accuracy or completeness. This report is intended for institutional investors only. Please send an email to andrew.hensel@usbank.com if youwish to be removed from the mailing list for this document.

Mid-Corporate Loan Market

Noteworthy Deal: Harley-Davidson, Inc.MotorcyclesBBB+ (s) / Baa1 (s)

Motorcycle manufacturer Harley-Davidson recently closed a 5-year $675 million facility that refinances a revolver of the same sizethat was scheduled to mature in 2013. The new facility is a companion to another $675 million facility that matures in 2015. U.S.Bank joined JP Morgan, Citibank, and RBS as bookrunners on the new facility when one European bank elected to exit therelationship. Of particular note is the fact that drawn pricing on the new facility is tied to a traditional ratings-based grid ratherthan the CDX-based grid employed in the previous facility. Pricing starts at 15 bps undrawn and L + 112.5.

U.S. Bank Loan Capital Markets – Market SnapshotMay 7, 2012Peter Kline 312-325-8983 Richard Jones 312-325-8906 Kavian Boots 312-325-8723Daniel Chapman 877-673-2258 Jeffrey Duncan 704-335-4570 Michael Mahoney 314-418-2661

Market Commentary: Pricing in the mid-corporate space has generally been flat since4Q11, with occasional aggressive pricing appearing in club deals for companies withstrong credit metrics. Because of the lack of new-money deals and a slow-down in therefinance market, those companies that are coming to market now have been heavilycourted by potential arranger banks, and they generally have a good sense of what termsand pricing thresholds are necessary for their deals to clear market. Companies haveshifted their focus to reassessing the size of their credit facilities, and determining whichbanks they want in their new deals. Likewise, many banks have been reassessing theirlending relationships and have been exiting deals where pricing has dropped belowminimum return levels or where they have not been able to make progress on cross-selling. As previously noted, bank groups are shrinking, and there has been an increasein the number of joint bookrunners in most deals. Upfront fees continue to tighten overall,and fee differentials by tier continue to compress.

Noteworthy Deal:Electronics ManufacturerSales – $2.2 billion TD/EBITDA – 1.78x

U.S. Bank is wrapping syndication for a publicly traded mid-western-based company that designs and manufactures electronicproducts, including printed circuit boards, test equipment and other electronic components. The new facilities consist of a 5-year$160 million unsecured revolving credit and a $90 million term loan priced at L+137.5 drawn and 20 bps undrawn. The dealrefinances the Company's existing 5-year $100 million revolver (priced at L+125 drawn and 30 bps undrawn) and a 5-year $150million term loan, both of which had been set to mature in April 2013. Drawn pricing increased by 12.5 bps compared to the priorfacilities (which had been put in place prior to the financial crisis), but the undrawn fee on the revolving credit declined by 10 bps.Covenants include a TD/EBITDA ratio of < 3.0x, and a minimum net worth test. The term loan has required amortization of 10% forthe first year, and then may be converted into an enlarged revolving credit or a bullet term loan. Three of the Company’s existingbanks dropped (lack of ancillary business generally) and one new bank joined the group. The facilities were substantiallyoversubscribed, despite aggressive pricing.

1

L everage Unused Fee (bps) A l l - In Drawn (bps)

>3.0 35-45 200-250

<3.0 30-40 175-225

<2.5 25-35 150-200

<2.0 20-27.5 125-175

<1.5 15-22.5 100-150

Indica tive Mid-Corporate Gra de Pricing Grid

Source: U.S. Bank Nat ional Associat ion. Note: Pricing grid considers indicat ive pricing for t radit ional commercial and corporate borrowers (i.e., non-sponsored and non-leveraged) with EBITDA in excess of $50mm.

Tradit ional Gr idRating 364-day Mult i -year Drawn* Floor* Cap*

AA 2-5 4-7.5 62.5-75 10-15 75-100

A+ 4-6 6-8 75-87.5 25-30 87.5-112.5

A 5-7.5 7.5-10 87.5-100 30-35 100-125

A- N/A 10-15 100-125 N/A N/A

BBB+ N/A 12.5-17.5 112.5-125 N/A N/A

BBB N/A 15-22.5 125-150 N/A N/A

BBB- N/A 22.5-30 150-175 N/A N/A

BB+ N/A 30-37.5 175-200 N/A N/ASource: U.S. Bank Nat ional Associat ion * Spread to LIBORThis grid is subject to change and is indicat ive in nature only.

Indica tive C orpora te Investment Gra de Pricing Grid

Undrawn Cost (bps) Drawn Cost (bps)

CDS-Based Gr id

This information represents the opinion of U.S. Bancorp and is not intended to be a forecast of future events, a guarantee of future results or investment advice. It is not intended toprovide specific advice or to be construed as an offering of securities or recommendation to invest. The factual information provided has been obtained from sources believed to bereliable, but is not guaranteed as to accuracy or completeness. This report is intended for institutional investors only. Please send an email to andrew.hensel@usbank.com if you wishto be removed from the mailing list for this document.

Leveraged Loan Market

Asset Based Finance Market

Market Commentary: The asset-based financing market has been relatively quiet for thefirst part of 2012, although there has been some pick up in refinancing activity in Marchand April, led by a $2.0 billion refinancing for Goodyear Tire & Rubber. According toThompson Reuters, over 50% of the $19.1 billion in asset-based volume syndicated duringthe quarter was raised in March alone (just over $3 billion was raised in January and about$6 billion in February). The new deal pipeline is still quiet with very little in announced M&Aor LBO activity, which means that refinancing will continue to dominate in 2Q12. Averagedrawn pricing was approximately L+228 for 1Q12 and seems to have stabilized since thedecline which started in 2009 as lenders seem to be more disciplined at putting theirmoney to work in the current regulatory environment.

Noteworthy Deal:Goodyear Tire & RubberAkron, OhioB+/B1 Sr. Debt

Goodyear Tire & Rubber has refinanced and increased its existing $1.5 billion asset-based revolving credit facility to $2.0 billion and extended the maturity by 5 years to 2017. Pricing on the revolver will start at L+150, which is at the low end of pricing in today’s market and similar to the original pricing for the financing put in place in August 2007. The company also refinanced a covenant-lite $1.2 billion second lien institutional term loan at L+375 with a LIBOR floor of 100 bps. The refinancing will help the company achieve its cost savings plans and extends out the nearest term debt repayment until 2019.

U.S. Bank Loan Capital Markets – Market SnapshotMay 7, 2012Peter Kline 312-325-8983 Richard Jones 312-325-8906 Kavian Boots 312-325-8723Daniel Chapman 877-673-2258 Jeffrey Duncan 704-335-4570 Michael Mahoney 314-418-3571

Market Commentary: Leveraged loan volume slowed in April, whileissuers continue to push aggressively structured transactions, causingmomentum to swing back in favor of investors, at least temporarily.Leveraged loan volume in April dropped to $25.7 billion, compared to$52.9 billion in March. Loan prices, however, widened in April, areaction to the sharp pricing declines felt in March and a continuationof opportunistic deal flow. Leveraged loan demand remains robust,buoyed by continued repayments in the asset class and a revival inthe new-issue CLO market. Year-to-date CLO issuance totals over$11.0 billion, poised to overtake the $12.0 billion CLO issuance levelwitnessed in full year 2011. CLO is

2

L IBOR Spreads

Credit Fundamentals <$125 > $125mm

Strong/Stable 150 – 200 175 – 225

Storied Credits 225 – 275 250 - 300

Indica tive Asset Ba sed Pricing Grid

Deal Size

Undrawn pricing typically ranges f rom 25.0 to 50.0 bps, with a grid that is inversely related to usage of the facility.

U.S. Bank was the Sole Book Runner and Administrative Agent on a new $43 million senior secured set of facilities for a leading Virginia-based consumer products company. The $7 million revolver and $36 million term loan, both five-year facilities, backed Riverside Company's purchase of the company. Pricing on the deal, which closed in late April, was L+550.

witnessed in full year 2011. CLO issuance thus far in 2012 represents a positive signal for sustained demand side support. Looking ahead, the growingforward calendar of new deals – which pushed to a nine-month high of $31.8 billion on April 25th, including $15.6 billion of M&A-driven loans – will providethe market with much welcomed event-driven supply. With new M&A announcements filtering into the mix and rumblings of additional recap deals andrefinancings, pricing is likely to stabilize around current levels. Overall, leveraged loan pricing for the week of April 25th widened a touch from March levels.The BB/BB- and B+/B indices came in at 4.85% and 6.48%, respectively, from 4.55% and 6.12%, respectively, in March. From a middle-marketperspective, term loan yields continue to decline to just above 7%, as issuance activity remains relatively light.

Noteworthy Deal:Consumer Products

Ratings Sep-11 Dec -11 Mar-11 Apr -11

BB/BB- 5.92% 4.43% 4.55% 4.85%

B+/B 8.37% 7.20% 6.12% 6.48%

Indica tive Leveraged Pricing

Average New-Issue Pricing (YTM)

Source: Standard & Poor's LCD

U.S. Bank Debt Capital Markets – Market SnapshotMay 7, 2012Terry Martin 646-935-4581 Violet Grecu 877-673-2289 David Wood 312-325-8745Michael Dullaghan 612-336-7629 Amanda Lamberti 314-325-2025

Private Placements MarketMarket Commentary: Private Placement Market issuance activity continues at amoderate pace. During the month of April, there was $2.5 billion in issuance,following the robust $5.9 billion in volume seen in March. Total YTD 2012volume currently stands at over $16.9 billion. In recent weeks, investor demandhas particularly outpaced supply. Strong investor liquidity has driven favorablestructures such as delayed funding options and attractive pricing. Almost alltransactions brought to market have been significantly oversubscribed and manytransactions have priced at the tight-end or inside of initial price talk. Also,during YTD 2012, issuers across the industry spectrum, as well as lower NAIC 2rated credits have been active in the Private Placement Market. U.S. Treasuryyields remain near historically low levels and credit spreads are attractive,driving issuer-friendly pricing. As a result, investors have expressed a preferencefor 7-year or longer tenors in an effort to capture incremental yield.

Investment Products and Services are available through U.S. Bancorp Investments, Inc., member of FINRA and SIPC, an investment advisor, a brokerage subsidiary of U.S. Bancorp,and an affiliate of U.S. Bank. U.S. Bank is not responsible for and does not guarantee the products, services, or performance of it affiliates and third party providers. This informationrepresents the opinion of U.S. Bancorp and is not intended to be a forecast of future events, a guarantee of future results or investment advice. It is not intended to provide specificadvice or to be construed as an offering of securities or recommendation to invest. The factual information provided has been obtained from sources believed to be reliable, but is notguaranteed as to accuracy or completeness. This report is intended for institutional investors only.

Public Debt Market

Not a Deposit ● Not FDIC Insured ● Not Guaranteed by the Bank ● May Lose Value ● Not Insured by any Federal Government Agency

High Grade Market Commentary (for the week ended May 4th) Day and night…You’d be hard pressed to find a more fitting metaphor to characterize theperformance of the high grade primary market over the last two weeks (well the previous three weeks compared to this week in all honesty). It was asthough the high grade market caught a second wind this week, as 19 deals hit the tape to price an aggregate $24.4 billion in new issues, a total thateclipses the previous three weeks volume total combined. What’s most comforting about the deals that have priced this week, is that despite the immenselylarge uptick in volume, investors weren’t requiring large concessions to get the deals done; in fact out of the 19 deals that did price, the average new issueconcession paid was negative 1 bp! Given the large book sizes and continually depressed concessions we are seeing in the new issues that have come tomarket, it is clear that demand in the market place is showing no signs of waning, but rather the slow-down in pace in April was more a function of themarket giving the record breaking volume we digested in the first quarter a chance to settle. Further evidence of the strong demand that exists in the marketplace can be seen in the results of the USBI monthly High Grade Fixed Income Investor Survey that was recently conducted. The data we compiled is basedon answers to a questionnaire sent to a sampling of large money managers, insurance companies, central banks, bank portfolios, and state funds; the keytakeaway from the survey was that it painted a picture of a High Grade investor that is cautious given the many prevalent downside risks, yet still clearlyflush with cash and likely to deploy that cash as long as markets remain stable.

Friday morning the market digested a rather lackluster employment report, and this weekend France, Germany, Greece, and Italy will hold a round ofelections. Given the step back in equities that we experienced today and the potential volatility that the elections could provide for next week, it would makesense for estimates on next week’s issuance to be somewhat curtailed. But it seems we are so lucky to be unencumbered by the potential risks asconsensus around the street is a week consisting of $20-25 billion in new issues. With the backlog in pipeline that has built up due to the dearth ofissuance in April, it is very well possible we could see another week similar to the last one.

High Yield Market Commentary (for the week ended May 4th) It was once again a below average week in the high yield new issue market, $4.7 billion pricedfrom ten issuers. We closed out April with just over $20 billion in issuance. While this is down from the past few months, it still marks the fourth month in arow that we have seen over $20 billion in domestic issuance. We did see one $1+ billion deal this week, something we have not seen since early April. CITGroup (B1/BB-) returned to the market for the third time this year, with proceeds once again going to refinancing debt. The deal was run investment gradestyle and marketed to both high yield and investment grade accounts, but in the end the deal was mostly placed with high yield investors. They ended uppricing $1.25 billion 5- year notes at 5% and $750 million 8-year notes at 5.375%. Both tranches were up half a point post pricing.

While we did not see a lot of movement in secondary spreads, we did see the average spread on a high yield bond fall below +600 and close out Thursday at+592 with a yield-to-maturity of 7.483%. This is the lowest yield-to-maturity we have seen since July 2011. We saw our third week in a row of inflows into highyield funds. $1.191 billion flowed into the sector, this is the seventh $1+ billion inflow we have seen this year. In all of 2011, we saw eight $1+ billion inflowweeks.

3

Noteworthy Deal:Food / Beverage

U.S. Bancorp is serving as Co-Placement Agent on a $650 million senior notes offering for a branded food and beverage company. The offering includes 7, 8, 9 and 10 year tranches, which priced at coupons ranging from 3.60% to 4.20%. The proceeds will support the splitting of the business into two separate companies.

NA IC

Rat ing5-Year (bps) 7-Year (bps) 10-Year (bps)

1 125-175 115-200 115-200

2 220-250 220-300 220-300

450-575 500-650 500-650

(if available) (if available) (if available)3

Source: Private Placement M onitor (as of M arch 2012)

Please note that actual pricing will be sector and issuer specif ic. Given this and the market ’s volat ility; drast ic spread changes could occur at anytime. Please contact Terry M art in at (646) 935-4581 to review and discuss potential opportunit ies on an individual basis.

Priva te Placement Spreads to U.S. Treasu ry

Not a Deposit ● Not FDIC Insured ● Not Guaranteed by the Bank ● May Lose Value ● Not Insured by any Federal Government Agency

Public Debt Market – Recent High Grade New Issues

Investment Products and Services are available through U.S. Bancorp Investments, Inc., member of FINRA and SIPC, an investment advisor, a brokerage subsidiary of U.S. Bancorp,and an affiliate of U.S. Bank. U.S. Bank is not responsible for and does not guarantee the products, services, or performance of it affiliates and third party providers. This informationrepresents the opinion of U.S. Bancorp and is not intended to be a forecast of future events, a guarantee of future results or investment advice. It is not intended to provide specificadvice or to be construed as an offering of securities or recommendation to invest. The factual information provided has been obtained from sources believed to be reliable, but is notguaranteed as to accuracy or completeness. This report is intended for institutional investors only.

U.S. Bank Debt Capital Markets – Market SnapshotMay 7, 2012Terry Martin 646-935-4581 Violet Grecu 877-673-2289 David Wood 312-325-8745Michael Dullaghan 612-336-7629 Amanda Lamberti 314-325-2025

*Shaded transactions represent those in which U.S. Bank played a role.Source: Bloomberg

4

Date Issuer Industry YKE / DMS Amount Securities Maturity Coupon Price Yield Spread Mdy S&P

5/7/2012 Public Service Electric & Gas Utility Domestic $450.0 FMB's A1 A-

5/3/2012 Instituto Costarricense de Electricidad (re-open) Utility Yankee $250.0 Senior Notes 11/10/2021 6.950% 105.000 6.244% Baa3 NR

5/3/2012 ABB Finance Industrial Yankee $500.0 Senior Notes 5/8/2017 1.625% 99.300 1.772% 95 A2 A

5/3/2012 ABB Finance Industrial Yankee $1,250.0 Senior Notes 5/8/2022 2.875% 97.833 3.129% 120 A2 A

5/3/2012 ABB Finance Industrial Yankee $750.0 Senior Notes 5/8/2042 4.375% 96.865 4.568% 145 A2 A

5/3/2012 Korea Western Pow er Co Ltd Utility Yankee $500.0 Senior Notes 5/10/2017 3.125% 99.798 3.169% 235 A1 A

5/3/2012 U.S. Bancorp Bank Domestic $1,250.0 Senior Notes 5/15/2017 1.650% 99.813 1.689% 87.5 Aa3 A

5/2/2012 BP Capital Markets PLC Energy Yankee $1,250.0 Senior Notes 5/15/2017 1.846% 100.000 1.846% 103 A2 A

5/2/2012 BP Capital Markets PLC Energy Yankee $1,750.0 Senior Notes 5/6/2022 3.245% 100.000 3.245% 133 A2 A

5/2/2012 American Honda Finance Finance Domestic $150.0 Senior Notes 5/8/2013 3mL+15 100.000 3mL+15 15 A1 A+

5/2/2012 American Honda Finance Finance Domestic $250.0 Senior Notes 5/8/2014 3ML+45 100.000 3ML+45 45 A1 A+

5/2/2012 Barclays Bank Plc Bank Yankee $2,000.0 Covered Bonds 5/10/2017 2.250% 99.521 2.353% 153 Aaa AAA

5/2/2012 Hutchison Whampoa Industrial Yankee $1,000.0 Hybrid Perp 6.000% 100.000 6.000% 517.6 Baa2 BBB

5/2/2012 Lotte Shopping Co Ltd Retail Yankee $400.0 Senior Notes 5/9/2017 3.375% 99.772 3.425% 260 A3 A-

5/2/2012 Ericsson LM Media Yankee $1,000.0 Senior Notes 5/15/2022 4.125% 99.585 4.176% 225 A3 BBB+

5/2/2012 WellPoint Inc Medical Domestic $850.0 Senior Notes 5/15/2022 3.125% 99.488 3.185% 127 Baa1 A-

5/2/2012 WellPoint Inc Medical Domestic $900.0 Senior Notes 5/15/2042 4.625% 99.292 4.669% 157 Baa1 A-

5/2/2012 GlaxoSmithKline Capital Plc Medical Yankee $1,000.0 Senior Notes 5/8/2015 0.750% 99.746 0.836% 45 A1 A+

5/2/2012 GlaxoSmithKline Capital Plc Medical Yankee $2,000.0 Senior Notes 5/8/2017 1.500% 99.641 1.575% 75 A1 A+

5/2/2012 GlaxoSmithKline Capital Plc Medical Yankee $2,000.0 Senior Notes 5/8/2022 2.850% 99.320 2.929% 100 A1 A+

5/1/2012 Liberty Mutual Group Inc Insurance Domestic $500.0 Senior Notes 5/1/2022 4.950% 99.689 4.990% 305 Baa2 BBB-

5/1/2012 Liberty Mutual Group Inc Insurance Domestic $500.0 Senior Notes 5/1/2042 6.500% 99.765 6.518% 337.5 Baa2 BBB-

5/1/2012 Pearson Funding Four PLC Media Yankee $500.0 Senior Notes 5/8/2022 3.750% 99.365 3.827% 187.5 Baa1 BBB+

5/1/2012 Consumers Energy Utility Domestic $375.0 FMB's 5/15/2022 2.850% 99.991 2.851% 90 A3 BBB+

5/1/2012 Aetna Inc Medical Domestic $250.0 Senior Notes 5/15/2017 1.750% 99.340 1.880% 105 Baa1 A-

5/1/2012 Aetna Inc Medical Domestic $500.0 Senior Notes 5/15/2042 4.500% 95.774 4.766% 160 Baa1 A-

5/1/2012 Altera Corp Technology Domestic $500.0 Senior Notes 5/15/2017 1.750% 99.847 1.782% 95 A2 A-

4/30/2012 Goldman Sachs Bank Domestic $2,000.0 Senior Notes 5/3/2015 3.300% 99.929 3.325% 295 A1 A-

4/30/2012 Wells Fargo & Co Bank Domestic $1,500.0 Senior Notes 5/18/2017 2.100% 99.920 2.117% 130 A2 A+

4/30/2012 US Airw ays Group Inc Transportation Domestic $379.8 Pass Thru Certs 10/1/2024 5.900% 100.000 5.900% 399 Ba2 BBB

4/30/2012 US Airw ays Group Inc Transportation Domestic $125.0 Pass Thru Certs 10/1/2019 8.000% 100.000 8.000% 719 B2 B+

4/30/2012 US Airw ays Group Inc Transportation Domestic $118.6 Pass Thru Certs 10/1/2015 9.125% 100.000 9.125% 875 B3 B

4/30/2012 Colgate-Palmolive Co Consumer Products Domestic $500.0 Senior Notes 5/3/2022 2.300% 98.499 2.499% 58 Aa3 AA-

4/26/2012 PT Pertamina Energy Yankee $1,250.0 Senior Notes 5/3/2022 4.875% 99.414 4.950% 299.1 Baa3 BB+

4/26/2012 PT Pertamina Energy Yankee $1,250.0 Senior Notes 5/3/2042 6.000% 98.631 6.100% 296.6 Baa3 BB+

4/26/2012 Zions Bancorp (re-open) Bank Domestic $100.0 Senior Notes 3/17/2017 4.500% 100.249 4.442% 364 Ba3 BBB-

4/26/2012 Molson Coors Brew ing Co Food & Bev Domestic $300.0 Senior Notes 5/1/2017 2.000% 99.717 2.060% 125 Baa2 BBB-

4/26/2012 Molson Coors Brew ing Co Food & Bev Domestic $500.0 Senior Notes 5/1/2022 3.500% 99.649 3.542% 160 Baa2 BBB-

4/26/2012 Molson Coors Brew ing Co Food & Bev Domestic $1,100.0 Senior Notes 5/1/2042 5.000% 99.815 5.012% 190 Baa2 BBB-

4/26/2012 Braskem Finance Ltd Bank Yankee $500.0 Senior Notes 5/2/2022 5.375% 99.809 5.400% 346.7 Baa3 BBB-

4/26/2012 Banco do Nordeste do Brasil SA Bank Yankee $300.0 Senior Notes 5/3/2019 4.375% 99.257 4.500% 317.8 Baa2 BBB

4/26/2012 BB&T Corp Bank Domestic $500.0 Pfd Shares Perp 5.850% 25.000 5.850% Baa2 BBB

4/25/2012 GECC/LJ VP Holdings Finance Domestic $700.0 Senior Notes 6/18/2019 3.800% 99.880 3.820% 245 A1 AA+

4/25/2012 CNOOC Finance 2012 Ltd Energy Yankee $1,500.0 Senior Notes 5/2/2022 3.875% 99.869 3.981% 190 Aa3 AA-

4/25/2012 CNOOC Finance 2012 Ltd Energy Yankee $500.0 Senior Notes 5/2/2042 5.000% 99.232 3.125% 190 Aa3 AA-

4/25/2012 D.R. Horton Real Estate Domestic $350.0 Senior Notes 5/15/2017 4.750% 100.000 4.749% 389.7 Ba2 BB-

4/25/2012 The Republic of Finland Sovereign Yankee $1,000.0 Senior Notes 5/2/217 1.125% 99.671 1.173% 32.25 Aaa AAA