Note 8—Long-Term Debt

The following is a summary of the Company's long-term debt:

(Dollars in millions)	June 30, 2014		December 31, 2013

Debt issued by MUFG Americas Holdings Corporation
Senior debt:
Fixed rate 3.50% notes due June 2022	$	397	$	397
Subordinated debt:
Floating rate subordinated debt due December 2023. This note, which bears interest at 1.38% above 3-month LIBOR, had a rate of 1.61% at June 30, 2014 and 1.63% at December 31, 2013		300		300
Junior subordinated debt payable to trusts⁽¹⁾:
Floating rate notes with maturities ranging from March 2033 to September 2036. These notes bear a combined weighted-average rate of 2.57% at June 30, 2014 and 2.60% at December 31, 2013		66		66


Total debt issued by MUFG Americas Holdings Corporation		763		763


Debt issued by MUFG Union Bank, N.A. and other subsidiaries
Senior debt:
Fixed and floating Federal Home Loan Bank advances with maturities ranging from February 2015 to February 2016. These notes bear a combined weighted-average rate of 2.56% at June 30, 2014 and 2.55% at December 31, 2013	$	800	$	800
Floating rate notes due June 2014. These notes, which bear interest at 0.95% above 3-month LIBOR, had a rate of 1.19% at December 31, 2013		—		300
Fixed rate 3.00% notes due June 2016		699		699
Fixed rate 1.50% notes due September 2016		499		499
Floating rate notes due September 2016. These notes, which bear interest at 0.75% above 3-month LIBOR, had a rate of 0.98% at June 30, 2014 and 1.00% at December 31, 2013		500		500
Fixed rate 2.125% notes due June 2017		499		499
Fixed rate 2.625% notes due September 2018		1,000		1,000
Fixed rate 2.250% notes due May 2019		502		—
Floating rate notes due May 2017. These notes, which bear interest at 0.40% above 3-month LIBOR, had a rate of 0.62% at June 30, 2014		250		—
Note payable:
Fixed rate 6.03% notes due July 2014 (related to consolidated VIE)		4		4
Subordinated debt:
Fixed rate 5.95% notes due May 2016		715		718
Subordinated debt due to BTMU:
Floating rate subordinated debt due June 2023. This note, which bears interest at 1.2% above 3-month LIBOR, had a rate of 1.43% at June 30, 2014 and 1.45% at December 31, 2013		750		750
Capital lease obligations with a combined weighted-average interest rate of 4.88% at both June 30, 2014 and December 31, 2013		14		15


Total debt issued by MUFG Union Bank, N.A. and other subsidiaries		6,232		5,784


Total long-term debt	$	6,995	$	6,547

(1): Long-term debt assumed through PCBC acquisition

Senior Debt

On May 6, 2014, the Bank issued $250 million in aggregate principal amount of Floating Rate Senior Bank Notes due 2017 (2017 Floating Rate Notes) and $500 million in aggregate principal amount of Fixed Rate Senior Bank Notes due 2019 (2019 Fixed Rate Notes) and, together with the 2017 Floating Rate Notes, the Senior Notes. The 2017 Floating Rate Notes were issued to purchasers at a price of 100% of their principal amount. The 2019 Fixed Rate Notes were issued to purchasers at a price of 99.774% of their principal amount. The 2017 Floating Rate Notes will bear interest at a rate equal to three-month U.S. Dollar LIBOR plus 0.40% and will mature on May 5, 2017. Interest payments are due quarterly. The 2019 Fixed Rate Notes will bear interest at a rate of 2.25% per annum and will mature on May 6, 2019. Interest payments are due semi-annually.

The Bank may redeem any of the 2017 Floating Rate Notes, in whole or in part, on May 5, 2016 at a redemption price equal to 100% of the principal amount being redeemed plus accrued interest. The Bank may redeem any of the 2019 Fixed Rate Notes, in whole or in part, on or after April 6, 2019 at a redemption price equal to 100% of the principal amount being redeemed plus accrued interest. None of the Senior Notes are subject to repayment at the option of the holders prior to maturity.

The net proceeds from the sale of the Senior Notes were used by the Bank for general corporate purposes in the ordinary course of its banking business. The Senior Notes were issued as part of the Bank's $8 billion bank note program under which the Bank may issue, from time to time, senior unsecured debt obligations with maturities of more than one year from their respective dates of issue and subordinated debt obligations with maturities of five years or more from their respective dates of issue. After issuing the Senior Notes, there is $1.9 billion available for issuance under the program.