French reinsurer SCOR Global Life is planning to issue a rare mortality bond.

The deal, Atlas IX Capital Ltd., has yet to be sized, according to a presale report published by Standard & Poor's. Investors will receive interest at a spread over three-month Libor unless U.S. mortality rates, as reported by the Centers for Disease Control and Prevention, exceed a certain level. In that case, interest and principal payments revert back to the insurer to pay claims.

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