Federal Home Loan Bank of Cincinnati
11/29/2024 | Press release | Distributed by Public on 11/29/2024 10:32
Financial Obligation Form 8 K
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The Federal Home Loan Bank of Cincinnati (the "FHLB") obtains most of its funds from the sale of debt securities, known as Consolidated Obligations, in the capital markets. Consolidated Obligations, which consist of Consolidated Bonds ("Bonds" on Schedule A) and Consolidated Discount Notes, are by regulation of the Federal Housing Finance Agency the joint and several obligations of the 11 Federal Home Loan Banks. Consolidated Obligations are sold to the public through the Office of Finance, a joint office of the Federal Home Loan Banks, using authorized securities dealers. Consolidated Obligations are backed only by the financial resources of the 11 Federal Home Loan Banks and are not guaranteed by the United States government.
Schedule A sets forth all Consolidated Bonds committed to be issued by the Federal Home Loan Banks for which the FHLB is the primary obligor, on the trade dates indicated. Schedule A also includes Consolidated Bonds with a remaining maturity in excess of one year, if any, for which we have assumed the primary repayment obligation from another Federal Home Loan Bank since our last Current Report under this Item 2.03. Because of their short-term maximum maturities of 360 days, Consolidated Discount Notes issued in the ordinary course of business are not included on Schedule A.
We may elect to change our method of reporting information on the issuance or assumption of Consolidated Obligations at any time. In reviewing the information in this Current Report, please note:
▪ although Consolidated Obligations issuance is material to the FHLB, we have not made a judgment as to the materiality of any particular Consolidated Obligation or Obligations;
▪ Schedule A does not address any interest-rate exchange agreements (or other derivative instruments) into which we may enter or have entered as a result of our asset and liability management strategies and that may be associated, directly or indirectly, with one or more of the reported Consolidated Bonds;
▪ Schedule A will not enable a reader to track changes in the total Consolidated Bonds outstanding for which we are the primary obligor because Schedule A does not reflect whether the proceeds from the issuance of the reported Consolidated Bonds will be used to, among other things, satisfy called or maturing Consolidated Obligations. We will report the total Consolidated Obligations outstanding for which we are the primary obligor in our periodic reports filed with the Securities and Exchange Commission;
▪ the principal amounts reported on Schedule A represent the principal amount of the reported Consolidated Bonds at par, which may not correspond to the amounts reported in our financial statements prepared in accordance with generally accepted accounting principles contained in our periodic reports filed with the Securities and Exchange Commission, because the par amount does not account for, among other things, any discounts, premiums or concessions; and
▪ Schedule A does not describe types and styles of Consolidated Bonds that are not issued on behalf of, or assumed by, the FHLB as primary obligor, but that may be issued on behalf of other Federal Home Loan Banks as primary obligors.
Schedule A
| Trade Date | CUSIP | Settlement Date | Maturity Date | Next Pay Date |
Call Type (1) |
Call Style (2) |
Rate Type/ Rate Sub-Type (3)(4) |
Next Call/ Amort Date |
Coupon Percent |
FHLBank Par ($) |
|
| 11/25/2024 | 3130B3WL3 | 11/26/2024 | 5/6/2025 | 2/6/2025 | Non-Callable | Variable Single Index Floater | $ | 750,000,000 | |||
| 11/25/2024 | 3130B3WM1 | 11/26/2024 | 5/23/2025 | 2/23/2025 | Non-Callable | Variable Single Index Floater | $ | 500,000,000 | |||
| 11/25/2024 | 3130B3WN9 | 11/29/2024 | 7/3/2025 | 1/3/2025 | Non-Callable | Variable Single Index Floater | $ | 500,000,000 | |||
| 11/25/2024 | 3130B3WN9 | 11/29/2024 | 7/3/2025 | 1/3/2025 | Non-Callable | Variable Single Index Floater | $ | 500,000,000 | |||
| 11/26/2024 | 3130ATUT2 | 11/29/2024 | 12/14/2029 | 12/14/2024 | Non-Callable | Fixed Constant | 4.500 | $ | 30,000,000 | ||
| 11/26/2024 | 3130B3W66 | 12/2/2024 | 12/2/2031 | 6/2/2025 | Optional Principal Redemption | American | Fixed Constant | 12/2/2025 | 5.150 | $ | 40,000,000 |
| 11/26/2024 | 3130B3WU3 | 11/29/2024 | 6/5/2025 | 3/5/2025 | Non-Callable | Variable Single Index Floater | $ | 750,000,000 | |||
| 11/26/2024 | 3130B3WV1 | 11/29/2024 | 6/3/2025 | 3/3/2025 | Non-Callable | Variable Single Index Floater | $ | 750,000,000 | |||
| 11/26/2024 | 3130B3WW9 | 11/29/2024 | 7/7/2025 | 1/7/2025 | Non-Callable | Variable Single Index Floater | $ | 750,000,000 | |||
| 11/26/2024 | 3130B3WZ2 | 12/5/2024 | 12/5/2034 | 6/5/2025 | Optional Principal Redemption | American | Fixed Constant | 12/5/2025 | 5.380 | $ | 30,000,000 |
(1) Call/Amortization Type Description:
Optional Principal Redemption Bonds(Callable Bonds) may be redeemed by the FHLB in whole or in part at its discretion on predetermined call dates, according to the terms of the Bond.
Indexed Amortizing Notes(Indexed Principal Redemption Bonds) repay principal based on a predetermined amortization schedule or formula that is linked to the level of a certain index, according to the terms of the Bond.
Scheduled Amortizing Notesrepay principal based on a predetermined amortization schedule, according to the terms of the Bond.
(2) Call Style Description:
Indicates whether the Bond is redeemable at the option of the FHLB, and if so redeemable, the type of redemption provision. The types of redemption provisions are:
American Bondsare redeemable continuously on and after the first redemption date until maturity.
Bermudan Bondsare redeemable on specified recurring dates on and after the first redemption date, until maturity.
European Bondsare redeemable on a particular date only.
Canary Bondsare redeemable on specified recurring dates on and after the first redemption date until a specified date prior to maturity.
Multi-European Bondsare redeemable on particular dates only.
(3) Rate Type Description:
Fixed Bondsgenerally pay interest at constant fixed rates over the life of the Bond, according to the terms of the Bond.
Variable Bondsmay pay interest at different rates over the life of the Bond, according to the terms of the Bond.
(4) Rate Sub-Type Description:
Constant Bondsgenerally pay interest at fixed rates over the life of the Bond, according to the terms of the Bond.
Single Index Floater Bondspay interest at a rate that increases as an index rises and decreases as an index declines, according to the terms of the Bond.
Step Down Bondsgenerally pay interest at decreasing fixed rates for specified intervals over the life of the Bond, according to the terms of the Bond.
Step Up Bondsgenerally pay interest at increasing fixed rates for specified intervals over the life of the Bond, according to the terms of the Bond.
Step Up/Down Bondsgenerally pay interest at various fixed rates for specified intervals over the life of the Bond, according to the terms of the Bond.
Zero Coupon Bondsearn a fixed yield to maturity or the optional principal redemption date, according to the terms of the Bond, with principal and interest paid at maturity; or upon redemption to the extent exercised prior to maturity.
Capped Floater Bondshave an interest rate that cannot exceed a stated or calculated ceiling, according to the terms of the Bond.
Dual Index Floater Bondshave an interest rate determined by two or more indices, according to the terms of the Bond.
Leveraged/Deleveraged Bondspay interest based on a formula that includes an expressed multiplier, according to the terms of the Bond: multiplier > 1 - leveraged; multiplier < 1 - deleveraged.
Inverse Floater Bondshave an interest rate that increases as an index declines and decreases as an index rises, according to the terms of the Bond.
Stepped Floater Bondspay interest based on an increasing spread over an index, according to the terms of the Bond.
Range Bondsmay pay interest at different rates depending upon whether a specified index is inside or outside a specified range, according to the terms of the Bond.
Ratchet Floater Bondspay interest subject to increasing floors, according to the terms of the Bond, such that subsequent coupons may not be lower than the previous coupon.