New Issue: Dasny brings to market $1.09 billion personal income tax revenue bonds

By Sheri Kasprzak

New York, June 24 – The Dormitory Authority of the State of New York sold $1,093,610,000 of series 2014 state personal income tax revenue bonds, according to a pricing sheet.

The bonds were sold competitively.

The deal included $366,705,000 of series 2014C Group A bonds, $322.64 million of series 2014C Group B bonds, $386,245,000 of series 2014C Group C bonds and $81,625,000 of series 2014D taxable bonds.

The 2014C Group A bonds are due 2015 to 2024 with 2% to 5% coupons and 0.3% to 2.23% yields.

The 2014C Group B bonds are due 2025 to 2034 with 5% coupons and yields from 2.7% to 3.48%.

The 2014C Group C bonds are due 2035 to 2042 with a term bond due in 2044. The serial bonds have 5% coupons with yields from 3.5% to 3.69%. The 2044 bonds have a 5% coupon priced at 110.496 to yield 3.7%.

The 2014D bonds are due 2016 to 2024 with 0.66% to 3.08% coupons all priced at par.

Proceeds will be used to finance the costs of capital projects for educational facilities, a longitudinal data system, environmental facilities and grants for educational, health care and economic development programs, as well as to refund certain outstanding bonds issued under the Upstate Community College program.

Issuer:	Dormitory Authority of the State of New York
Issue:	Series 2014 state personal income tax revenue bonds
Amount:	$1,093,610,000
Type:	Competitive
Pricing date:	June 24
Settlement date:	July 8
$366,705,000 series 2014C Group A bonds
Amount	Maturity	Type	Coupon	Price	Yield
$27,455,000	2016	Serial	4%	106.217	0.30%
$28.58 million	2017	Serial	5%	111.62	0.63%
$30 million	2018	Serial	5%	114.4	1.01%
$31.5 million	2019	Serial	5%	116.568	1.34%
$31,815,000	2020	Serial	5%	117.989	1.67%
$33,395,000	2021	Serial	5%	118.891	1.97%
$35,085,000	2022	Serial	5%	119.775	2.19%
$36,825,000	2023	Serial	5%	120.272	2.40%
$38.66 million	2024	Serial	5%	121.001	2.54%
$9.3 million	2015	Serial	2%	101.748	0.13%
$10.83 million	2016	Serial	4%	107.036	0.35%
$11,315,000	2017	Serial	5%	112.474	0.70%
$11,015,000	2018	Serial	5%	115.065	1.08%
$9,975,000	2019	Serial	5%	117.059	1.41%
$8,765,000	2020	Serial	5%	118.433	1.72%
$7.71 million	2021	Serial	5%	119.266	2.01%
$4.48 million	2022	Serial	5%	120.044	2.23%
$322.64 million series 2014C Group B bonds
Amount	Maturity	Type	Coupon	Price	Yield
$25,655,000	2025	Serial	5%	119.484	2.70%
$26.94 million	2026	Serial	5%	118.082	2.85%
$28.27 million	2027	Serial	5%	117.066	2.96%
$29,685,000	2028	Serial	5%	116.242	3.05%
$31,185,000	2029	Serial	5%	115.245	3.16%
$32.74 million	2030	Serial	5%	114.527	3.24%
$34.37 million	2031	Serial	5%	113.902	3.31%
$36.1 million	2032	Serial	5%	113.37	3.37%
$37.9 million	2033	Serial	5%	112.841	3.43%
$39,795,000	2034	Serial	5%	112.402	3.48%
$386,245,000 series 2014C Group C bonds
Amount	Maturity	Type	Coupon	Price	Yield
$30,735,000	2035	Serial	5%	112.227	3.50%
$32,275,000	2036	Serial	5%	111.879	3.54%
$33,885,000	2037	Serial	5%	111.531	3.58%
$35.58 million	2038	Serial	5%	111.185	3.62%
$37.36 million	2039	Serial	5%	110.926	3.65%
$39.23 million	2040	Serial	5%	110.754	3.67%
$41.19 million	2041	Serial	5%	110.668	3.68%
$43.25 million	2042	Serial	5%	110.582	3.69%
$93.1 million	2044	Term	5%	110.496	3.70%
$81,625,000 series 2014D taxable bonds
Amount	Maturity	Type	Coupon	Price
$8,475,000	2016	Serial	0.66%	100
$8,515,000	2017	Serial	1.14%	100
$8,615,000	2018	Serial	1.57%	100
$8.76 million	2019	Serial	1.96%	100
$8.95 million	2020	Serial	2.25%	100
$9,175,000	2021	Serial	2.55%	100
$9.42 million	2022	Serial	2.76%	100
$9,705,000	2023	Serial	2.92%	100
$10.01 million	2024	Serial	3.08%	100

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