By Sheri Kasprzak
New York, Nov. 3 - The New York State Mortgage Agency sold $168.28 million of homeowner mortgage revenue bonds, according to a pricing sheet.
The offering included $50 million of series 165 non-AMT bonds, $107.585 million of series 166 taxable bonds and $10.695 million of series 167 AMT bonds.
The series 165 bonds are due 2026, 2031 and 2042. The 2026 bonds have a 4% coupon priced at par, and the 2031 bonds have a 4.5% coupon priced at par. The 2042 bonds have a 4.75% coupon priced at par.
The series 166 bonds are due 2012 to 2021 with 0.63% to 3.999% coupons, all priced at par.
The series 167 bonds are due 2018 and 2020 to 2022. The serial coupons have 3.75% to 4.1% coupons, all priced at par. The 2018 bonds have a 3.1% coupon priced at par.
Citigroup Global Markets Inc. was the senior manager. The co-managers were J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Bank of America Merrill Lynch, George K. Baum & Co., M&T Securities Inc., M.R. Beal & Co. Inc., Ramirez & Co. Inc., RBC Capital Markets LLC, Roosevelt & Cross Inc. and Siebert Brandford Shank & Co. LLC.
Proceeds will be used to make mortgage loans.
| Issuer: | New York State Mortgage Agency
|
| Issue: | Homeowner mortgage revenue bonds
|
| Amount: | $168.28 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Bank of America Merrill Lynch, George K. Baum & Co., M&T Securities Inc., M.R. Beal & Co. Inc., Ramirez & Co. Inc., RBC Capital Markets LLC, Roosevelt & Cross Inc. and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Pricing date: | Nov. 3
|
| Settlement date: | Nov. 16
|
|
|
| $50 million series 165 non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $7.195 million | 2026 | Term | 4% | 100
|
| $9.635 million | 2031 | Term | 4.5% | 100
|
| $33.17 million | 2042 | Term | 4.75% | 100
|
|
|
| $107.585 million series 166 taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $12.29 million | 2012 | Serial | 0.63% | 100
|
| $5.725 million | 2013 | Serial | 1.226% | 100
|
| $1.935 million | 2014 | Serial | 1.514% | 100
|
| $3.015 million | 2015 | Serial | 1.886% | 100
|
| $4.305 million | 2016 | Serial | 2.386% | 100
|
| $8.57 million | 2017 | Serial | 2.796% | 100
|
| $19.43 million | 2018 | Serial | 3.146% | 100
|
| $21.12 million | 2019 | Serial | 3.499% | 100
|
| $15.37 million | 2020 | Serial | 3.649% | 100
|
| $15.825 million | 2021 | Serial | 3.999% | 100
|
|
|
| $10.695 million series 167 AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $515,000 | 2018 | Term | 3.1% | 100
|
| $300,000 | 2020 | Serial | 3.75% | 100
|
| $250,000 | 2021 | Serial | 3.9% | 100
|
| $9.63 million | 2022 | Serial | 4.1% | 100
|
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