Long-Term Debt

The following is a summary of MUAH's, the Bank's and other subsidiaries' long-term debt:



(Dollars in millions)	September 30, 2015		December 31, 2014
Debt issued by MUAH
Senior debt:
Floating rate senior notes due February 2018. These notes, which bear interest at 0.57% above 3-month LIBOR, had a rate of 0.88% at September 30, 2015⁽²⁾	$	250	$	—
Fixed rate 1.625% notes due February 2018⁽²⁾	450		—
Fixed rate 2.25% notes due February 2020⁽²⁾	1,000		—
Fixed rate 3.50% notes due June 2022	398		398
Fixed rate 3.00% notes due February 2025⁽²⁾	498		—
Subordinated debt due to BTMU:
Floating rate subordinated debt due December 2023. This note, which bears interest at 1.38% above 3-month LIBOR, had a rate of 1.71% at September 30, 2015 and 1.63% at December 31, 2014	300		300
Junior subordinated debt payable to trusts⁽¹⁾:
Floating rate notes due September 2036. These notes bear a combined weighted-average rate of 2.04% at September 30, 2015 and 2.35% at December 31, 2014	36		52
Total debt issued by MUAH	2,932		750
Debt issued by MUB and other subsidiaries
Senior debt:
Fixed FHLB of San Francisco advances due February 2016. These notes bear a combined weighted-average rate of 2.50% at September 30, 2015 and 2.56% at December 31, 2014	$	500	$	800
Fixed rate 3.00% notes due June 2016	700		700
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 1.08% at September 30, 2015 and 1.00% at December 31, 2014	500		500
Floating rate notes due May 2017. These notes, which bear interest at 0.40% above 3-month LIBOR, had a rate of 0.70% at September 30, 2015 and 0.63% at December 31, 2014	250		250
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	509		499
Senior debt due to BTMU:
Floating rate debt due January 2018. These notes, which bears interest at 0.85% above 1-month LIBOR, had a rate of 1.05% at September 30, 2015	1,000		—
Floating debt notes due January 2018. These notes, which bears interest at 0.87% above 1-month LIBOR, had a rate of 1.06% at September 30, 2015	1,500		—
Subordinated debt:
Fixed rate 5.95% notes due May 2016	704		711
Subordinated debt due to BTMU:
Floating rate subordinated debt due June 2023. This note, which bears interest at 1.20% above 3-month LIBOR, had a rate of 1.53% at September 30, 2015 and 1.45% at December 31, 2014	750		750
Capital lease obligations with a combined weighted-average interest rate of 4.92% at September 30, 2015 and December 31, 2014⁽¹⁾	14		14
Total debt issued by MUB and other subsidiaries	8,425		6,222
Total long-term debt	$	11,357	$	6,972


(1)	Long-term debt assumed through acquisitions.

(2)

In January 2015, MUAH filed a new shelf registration statement with the SEC authorizing issuance of a total of $3.6 billion of debt and other securities, effectively terminating the prior shelf registration statement. In February 2015, MUAH issued an aggregate of $2.2 billion of senior notes from the new shelf registration statement. As of September 30, 2015, $1.4 billion of debt or other securities were available for issuance under this shelf registration. For a more detailed discussion of the debt issuance, see Note 10 to our Consolidated Financial Statements included in Part II, Item 8. “Financial Statements and Supplementary Data” in our 2014 Form 10-K.

Senior Debt due to BTMU

On August 25, 2015, the Bank issued $1 billion in senior unsecured debt to BTMU. The senior debt bears interest equal to a per annum rate of one-month LIBOR plus 0.85%, which will be paid monthly, and matures on January 2, 2018.

On September 22, 2015, the Bank issued $1.5 billion in senior unsecured debt to BTMU. The senior debt bears interest equal to a per annum rate of one-month LIBOR plus 0.87%, which will be paid monthly, and matures on January 2, 2018.

Senior Debt Issued Subsequent to September 30, 2015

In October 2015, the Bank issued $1 billion in senior unsecured debt to BTMU. The senior debt bears interest equal to a per annum rate of one-month LIBOR plus 1.03%, which will be paid monthly, and matures on January 2, 2018.