WASHINGTON, D.C., May 22—The International Finance Corporation (IFC) launched seven S&P index-linked Matador notes on May 21st, 1997. The face value of the combined issue was 10.2 billion Spanish pesetas, equivalent to about 71.5 million US Dollars. IFC has been an extremely active issuer in the Spanish Peseta market over the past six months, and investors in the Spanish domestic market have continued to show strong interest in its bonds. The notes have varying fixed-rate coupons and the principal redemption is linked to the appreciation of the S&P 500 stock exchange index. They have a final maturity of approximately 5 years - 6 months and have been issued to investors at 100% of face value. The issue will benefit from increases in the value of the S&P index and have been purchased by investors who wish to participate in the appreciation while protecting a large percentage of their underlying principal in case of a downswing. The issue, listed on Madrid stock exchange, has been swapped to floating rate US Do
llars by IFC.
The notes have been solely underwritten by Banco Santander de Negocios.
IFC is a member of the World Bank Group and the largest source of financing for private sector companies in developing countries. Its long-term debt is rated triple-A by Standard and Poor's and Moody's Investors Service.