USAA drops high-risk layer from Residential Re cat bond
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USAA drops high-risk layer from Residential Re cat bond

USAA has dropped the notably high-risk Class 10 zero-coupon notes from its latest Residential Re cat bond and raised pricing on the four other classes of notes.

The Class 10 notes had been offered as a zero-coupon structure, with investors asked to put up 82.5%-83.5% of total limit.

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