By Sheri Kasprzak
New York, Sept. 8 - The New York State Mortgage Agency sold $151.215 million of homeowner mortgage revenue bonds, according to a pricing sheet.
The bonds were sold through Morgan Stanley & Co. LLC. The co-managers were Citigroup Global Markets Inc., J.P. Morgan Securities 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., Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC.
The offering included $66.825 million of series 163 non-AMT bonds and $84.39 million of series 164 non-AMT bonds.
The series 163 bonds are due 2016 to 2022 with term bonds due in 2026, 2031 and 2036. The serial coupons range from 1.85% to 3.4%, all priced at par. The 2026 bonds have a 4% coupon priced at par, and the 2031 bonds have a 4.45% coupon priced at par. The 2036 bonds have a 4.6% coupon priced at par.
The series 164 bonds are due 2013 to 2017 and 2021 to 2022 with 0.6% to 3.4% coupons, all priced at par.
Proceeds will be used to make mortgage loans to qualified New York State residents.
| Issuer: | New York State Mortgage Agency
|
| Issue: | Homeowner mortgage revenue bonds
|
| Amount: | $151.215 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC (lead), Citigroup Global Markets Inc., J.P. Morgan Securities 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., Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC (co-managers)
|
| Pricing date: | Sept. 8
|
| Settlement date: | Sept. 22
|
|
|
| $66.825 million series 163 non-AMT bonds
|
| Maturity | Type | Coupon | Price
|
| 2016 | Serial | 1.85% | 100
|
| 2016 | Serial | 1.9% | 100
|
| 2017 | Serial | 2.15% | 100
|
| 2017 | Serial | 2.2% | 100
|
| 2018 | Serial | 2.55% | 100
|
| 2018 | Serial | 2.6% | 100
|
| 2019 | Serial | 2.9% | 100
|
| 2019 | Serial | 2.9% | 100
|
| 2020 | Serial | 3.05% | 100
|
| 2020 | Serial | 3.05% | 100
|
| 2021 | Serial | 3.25% | 100
|
| 2021 | Serial | 3.25% | 100
|
| 2022 | Serial | 3.4% | 100
|
| 2022 | Serial | 3.4% | 100
|
| 2026 | Term | 4% | 100
|
| 2031 | Term | 4.45% | 100
|
| 2036 | Term | 4.6% | 100
|
|
|
| $84.39 million series 164 non-AMT bonds
|
| Maturity | Type | Coupon | Price
|
| 2013 | Serial | 0.6% | 100
|
| 2013 | Serial | 0.7% | 100
|
| 2014 | Serial | 1% | 100
|
| 2014 | Serial | 1.1% | 100
|
| 2015 | Serial | 1.4% | 100
|
| 2015 | Serial | 1.5% | 100
|
| 2016 | Serial | 1.85% | 100
|
| 2016 | Serial | 1.9% | 100
|
| 2017 | Serial | 2.15% | 100
|
| 2017 | Serial | 2.2% | 100
|
| 2021 | Serial | 3.25% | 100
|
| 2021 | Serial | 3.25% | 100
|
| 2022 | Serial | 3.4% | 100
|
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