As was somewhat expected the pricing for the new AT&T Global Notes came at 5.625%.
The older issue of Global Notes (NYSE:TBB) has a coupon of 5.35% and today took quite a tumble (shown below) after the new issue was announced.
The new issue will trade on the NYSE, but there will not be OTC Grey Market trading. The new ticker has not been announced.
The new issue has the normal terms–quarterly interest payments which are not qualified distributions (for tax purposes) and an early redemption period starting in August, 2023.