By Sheri Kasprzak
New York, March 22 - The New York State Mortgage Agency priced $115.41 million of mortgage revenue bonds on Tuesday, according to a term sheet.
The offering included $97.855 million of 46th series non-AMT bonds and $17.555 million of 47th series non-AMT bonds.
The bonds were sold through J.P. Morgan Securities LLC with Merrill Lynch; Citigroup Global Markets Inc.; Morgan Stanley & Co. Inc.; George K. Baum & Co.; Goldman Sachs & 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 as the co-managers.
The 46th series bonds are due 2015 to 2024 with term bond due in 2027 and 2029. The serial coupons range from 2.1% to 4.5%. The 2027 bonds have a 4.875% coupon priced at par. The 2029 bonds have a 5% coupon priced at 126.875. The 47th series bonds are due 2011 to 2015 with coupons from 0.35% to 2.1%, all priced at par.
Proceeds will be used to make mortgage loans.
| Issuer: | New York State Mortgage Agency
|
| Issue: | Mortgage revenue bonds
|
| Amount: | $115.41 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead); Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Morgan Stanley & Co. Inc.; George K. Baum & Co.; Goldman, Sachs & 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: | March 22
|
| Settlement date: | March 31
|
|
|
| $97.855 million 46th series bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $825,000 | 2015 | Serial | 2.1% | 100
|
| $2.615 million | 2015 | Serial | 2.2% | 100
|
| $2.67 million | 2016 | Serial | 2.45% | 100
|
| $2.73 million | 2016 | Serial | 4% | 107.93
|
| $2.79 million | 2017 | Serial | 2.85% | 100
|
| $2.85 million | 2017 | Serial | 4% | 106.779
|
| $2.6 million | 2018 | Serial | 3.15% | 100
|
| $3.295 million | 2018 | Serial | 5% | 112.272
|
| $3.155 million | 2019 | Serial | 3.5% | 100
|
| $3 million | 2019 | Serial | 5% | 111.335
|
| $3.18 million | 2020 | Serial | 3.75% | 100
|
| $3.245 million | 2020 | Serial | 5% | 110.333
|
| $3.315 million | 2021 | Serial | 3.95% | 100
|
| $3.39 million | 2021 | Serial | 3.95% | 100
|
| $3.47 million | 2022 | Serial | 4.15% | 100
|
| $3.54 million | 2022 | Serial | 4% | 98.19
|
| $3.615 million | 2023 | Serial | 4.4% | 100
|
| $3.7 million | 2023 | Serial | 4.25% | 98.569
|
| $3.775 million | 2024 | Serial | 4.45% | 100
|
| $3.855 million | 2024 | Serial | 4.5% | 100
|
| $18.465 million | 2027 | Term | 4.875% | 100
|
| $17.775 million | 2029 | Term | 5% | 126.857
|
|
|
| $17.555 million 47th series bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.59 million | 2011 | Serial | 0.35% | 100
|
| $2.25 million | 2012 | Serial | 0.55% | 100
|
| $2.295 million | 2012 | Serial | 0.80% | 100
|
| $2.345 million | 2013 | Serial | 1.10% | 100
|
| $2.395 million | 2013 | Serial | 1.20% | 100
|
| $2.45 million | 2014 | Serial | 1.50% | 100
|
| $2.5 million | 2014 | Serial | 1.60% | 100
|
| $1.73 million | 2015 | Serial | 2.10% | 100
|
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