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Tuesday, March 09, 2010

California General Obligation Bond New Offerings List

The public offering of $2,000,000,000 (two BILLION Dollars) CALIFORNIA STATE VARIOUS PURPOSE GENERAL OBLIGATION BONDS has been priced and the retail order period has begun. To be eligible for an allocation of bonds, you must place an order at your broker by 8PM EST tonight!

All GOs listed below are call protected California General Obligation Bond New Offerings with Moody's and S&P ratings of BAA1 and A-, respectively.

Expected Order Period: TUES., 3/9 TIL 8:00 P.M., E.S.T; 3/10

Settlement Date: 03/18/2010


Expected
Coupon
Maturity Date Rating Expected Yield Call
Protected
Est
Taxable
Equivalent
Yield*
Moody's S&P
2.000 03/01/2012 BAA1 A- 1.200 Yes 1.846
5.000 03/01/2012 BAA1 A- 1.200 Yes 1.846
3.000 03/01/2014 BAA1 A- 2.080 Yes 3.200
5.000 03/01/2014 BAA1 A- 2.080 Yes 3.200
3.000 03/01/2015 BAA1 A- 2.600 Yes 4.000
5.000 03/01/2015 BAA1 A- 2.600 Yes 4.000
3.500 03/01/2016 BAA1 A- 3.180 Yes 4.892
5.000 03/01/2016 BAA1 A- 3.180 Yes 4.892
3.500 03/01/2017 BAA1 A- 3.600 Yes 5.538
5.000 03/01/2017 BAA1 A- 3.600 Yes 5.538
3.875 03/01/2018 BAA1 A- 3.960 Yes 6.092
5.000 03/01/2018 BAA1 A- 3.960 Yes 6.092
4.125 03/01/2019 BAA1 A- 4.240 Yes 6.523
5.000 03/01/2019 BAA1 A- 4.240 Yes 6.523

*Assumes investor is subject to the maximum federal tax rate of 35%. Yield is based on offering price. Yield is subject to change based on market conditions.

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