Federal Home Loan Bank of Dallas

11/05/2024 | Press release | Distributed by Public on 11/05/2024 14:52

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 Dallas (the "Bank") obtains most of its funds from the sale of debt securities, known as consolidated obligations, in the capital markets. Consolidated obligations, which consist of bonds and discount notes, are the joint and several obligations of the 11 Federal Home Loan Banks (each individually, a "FHLBank" and collectively, the "FHLBanks"). Consolidated obligations are sold to the public through the Office of Finance, a joint office of the FHLBanks, using authorized securities dealers.
Consolidated obligations are backed only by the financial resources of the FHLBanks. Consolidated obligations are not obligations of, nor are they guaranteed by, the United States Government.
Schedule A summarizes all consolidated obligation bonds committed to be issued by the FHLBanks for which the Bank is the primary obligor, on the trade date(s) indicated. To the extent applicable, Schedule A also includes any consolidated obligations for which the Bank assumed the primary repayment obligation from another FHLBank on the trade date(s) indicated. Debt assumptions, if any, are identified by an asterisk (*) in the "Trade Date" column of Schedule A. Due to their short-term maturities of one year or less, consolidated obligation discount notes issued on behalf of the Bank in the ordinary course of business are not included in Schedule A. Furthermore, consolidated obligations that may have been issued on behalf of other FHLBanks as primary obligors are not included in Schedule A.
In reviewing the information contained in this Current Report on Form 8-K, please note the following:
▪the Bank has not made a judgment as to the materiality of these consolidated obligation bonds;
▪Schedule A does not include any information with regard to interest rate exchange agreements (or other derivative instruments) into which the Bank has entered (or may enter) as a result of its asset/liability management and that may be associated, directly or indirectly, with one or more of the reported consolidated obligation bonds;
▪the information provided in Schedule A will not enable a reader to compute changes in the total consolidated obligations outstanding for which the Bank is the primary obligor because the schedule does not include consolidated obligation discount notes nor does it address whether the proceeds from the issuance of the reported consolidated obligation bond(s) will be used to satisfy called or maturing consolidated obligations or for other business purposes. The Bank reports the total consolidated obligations outstanding for which it is the primary obligor in the Bank's periodic reports filed with the Securities and Exchange Commission ("SEC");
▪the par amounts reported in Schedule A represent the principal amounts of the reported consolidated obligation bonds, which may not correspond to the amounts reported in the Bank's financial statements prepared in accordance with generally accepted accounting principles contained in its periodic reports filed with the SEC, because the par amounts do not take into account any discounts, premiums or hedging adjustments that may be associated with the consolidated obligation bonds; and
▪the footnotes accompanying Schedule A are intended to include descriptions of the various types and styles of consolidated obligation bonds that are most likely to be issued on behalf of (or assumed by) the Bank; the footnotes do not include, nor are they intended to include, descriptions of all of the various types and styles of consolidated obligation bonds that may be issued on behalf of other FHLBanks as primary obligors.
Schedule A
Consolidated Obligation Bonds Committed to be Issued by the Federal Home Loan Bank of Dallas
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
DATE 		INITIAL
COUPON
RATE 		PAR
AMOUNT
10/30/2024 3130B3K28 11/1/2024 4/24/2028 4/24/2025 Optional Principal Redemption Bermudan Fixed/Constant 10/24/2025 4.580% $ 15,000,000
10/30/2024 3130B3K51 11/6/2024 11/6/2029 5/6/2025 Optional Principal Redemption European Fixed/Constant 11/6/2026 4.375% $ 15,000,000
10/31/2024 3130B3KN2 11/4/2024 11/4/2054 5/4/2025 Optional Principal Redemption Bermudan Fixed/Constant 2/4/2025 6.125% $ 25,000,000
10/31/2024 3130B3KU6 11/8/2024 4/8/2025 1/8/2025 Non-Callable N/A Variable/Single Index Floater N/A (b) $ 100,000,000
11/1/2024 3130B3KN2 11/4/2024 11/4/2054 5/4/2025 Optional Principal Redemption Bermudan Fixed/Constant 2/4/2025 6.125% $ 25,000,000
11/1/2024 3130B3KU6 11/8/2024 4/8/2025 1/8/2025 Non-Callable N/A Variable/Single Index Floater N/A (b) $ 750,000,000
11/1/2024 3130B3KX0 11/8/2024 3/10/2025 12/10/2024 Non-Callable N/A Variable/Single Index Floater N/A (a) $ 500,000,000
11/1/2024 3130B3KY8 11/5/2024 5/9/2025 2/9/2025 Non-Callable N/A Variable/Single Index Floater N/A (c) $ 251,500,000
11/1/2024 3130B3KZ5 11/8/2024 5/8/2025 2/8/2025 Non-Callable N/A Variable/Single Index Floater N/A (c) $ 435,000,000
11/1/2024 3130B3LA9 11/6/2024 11/6/2028 5/6/2025 Optional Principal Redemption European Fixed/Constant 8/6/2026 4.428% $ 15,000,000
(a) Overnight SOFR plus 0.5 basis point
(b) Overnight SOFR plus 1.0 basis point
(c) Overnight SOFR plus 1.5 basis points
(1) Call Type Description:
Optional Principal Redemption bonds (callable bonds) may be redeemed by the Bank in whole or in part at its discretion on predetermined call dates, according to the terms of the bond.
Scheduled Amortizing bonds repay principal based upon a predetermined amortization schedule, in accordance with the terms of the bond.
(2) Call Style Description:
American - redeemable continuously on and after the first redemption date and until maturity.
Bermudan - redeemable on specified recurring dates on and after the first redemption date until maturity.
European - redeemable on a specific date only.
Multi-European - redeemable on particular dates only.
Canary - redeemable on specified recurring dates on and after the first redemption date until a specified date prior to maturity.
(3) Rate Type Description:
Conversion bonds have coupons that convert from fixed to variable or from variable to fixed on a predetermined date, according to the terms of the bond; in some cases, the variable coupon may be subject to an interest rate cap.
Fixed bonds pay interest at constant or stepped fixed rates over the life of the bond, according to the terms of the bond.
Variable bonds pay interest at rates that reset periodically over the life of the bond based upon an index such as the Secured Overnight Financing Rate, according to the terms of the bond.
(4) Rate Sub-Type Description:
Constant bonds pay interest at constant fixed rates over the life of the bond, according to the terms of the bond.
Step-Down bonds pay interest at decreasing fixed rates for specified intervals over the life of the bond, according to the terms of the bond.
Step-Up bonds pay interest at increasing fixed rates for specified intervals over the life of the bond, according to the terms of the bond.
Step-Up/Step-Down bonds pay interest at increasing fixed rates and then at decreasing fixed rates for specified intervals over the life of the bond, according to the terms of the bond.
Capped Floater bonds pay interest at variable rates subject to an interest rate ceiling, according to the terms of the bond.
Single Index Floater bonds pay interest at a rate that increases as an index rises and decreases as an index declines, according to the terms of the bond.