Published on 5/24/2012 in the Prospect News Municipals Daily.
New Issue: New York City prices $996.93 million of G.O. bonds
By Sheri Kasprzak
New York, May 24 - The City of New York sold $996,925,000 of series 2012H-J general obligation bonds, according to a pricing sheet.
The offering included $53,325,000 of series 2012H G.O. bonds, $896,145,000 of series 2012I G.O. bonds and $47,455,000 of series 2012J taxable bonds.
The 2012H bonds are due 2012 to 2024 with 2% to 5% coupons. The 2012I bonds are due 2013 to 2032 with 2.5% to 5% coupons. The 2012J bonds are due 2013 to 2016 with 1% to 1.25% coupons.
The bonds were sold through lead manager Bank of America Merrill Lynch.
The co-managers were Citigroup Global Markets Inc.; Morgan Stanley & Co. LLC; J.P. Morgan Securities LLC; Siebert Brandford Shank & Co. LLC; Barclays Capital Inc.; Fidelity Capital Markets LLC; Loop Capital Markets LLC; Roosevelt & Cross Inc.; Goldman Sachs & Co.; Ramirez & Co. Inc.; Southwest Securities Inc.; M.R. Beal & Co. Inc.; Jefferies & Co.; Rice Financial Products Co.; Wells Fargo Bank, NA; Cabrera Capital Markets LLC; Lebethal & Co. LLC; RBC Capital Markets LLC; Jackson Securities Inc.; MFR Securities Inc.; Janney Montgomery Scott LLC; Raymond James/Morgan Keegan; and TD Securities (USA) LLC.
Proceeds will be used to redeem existing G.O. bonds prior to maturity.
| Issuer: | City of New York
|
| Issue: | Series 2012H-J general obligation bonds
|
| Amount: | $996,925,000
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead); Citigroup Global Markets Inc.; Morgan Stanley & Co. LLC; J.P. Morgan Securities LLC; Siebert Brandford Shank & Co. LLC; Barclays Capital Inc.; Fidelity Capital Markets LLC; Loop Capital Markets LLC; Roosevelt & Cross Inc.; Goldman Sachs & Co.; Ramirez & Co. Inc.; Southwest Securities Inc.; M.R. Beal & Co. Inc.; Jefferies & Co.; Rice Financial Products Co.; Wells Fargo Bank, NA; Cabrera Capital Markets LLC; Lebethal & Co. LLC; RBC Capital Markets LLC; Jackson Securities Inc.; MFR Securities Inc.; Janney Montgomery Scott LLC; Raymond James/Morgan Keegan; and TD Securities (USA) LLC
|
| Ratings: | Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | May 24
|
| Settlement date: | June 7
|
|
|
| $53,325,000 series 2012H G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.36 million | 2012 | Serial | 2% | NRO
|
| $3.19 million | 2013 | Serial | 2.5% | NRO
|
| $4,675,000 | 2014 | Serial | 2% | 102.985
|
| $4,675,000 | 2015 | Serial | 3% | 106.829
|
| $2,955,000 | 2016 | Serial | 3% | 108.067
|
| $1.72 million | 2016 | Serial | 5% | 116.174
|
| $1,825,000 | 2017 | Serial | 2.5% | 106.421
|
| $1.3 million | 2017 | Serial | 5% | 118.865
|
| $1.27 million | 2018 | Serial | 3% | 108.902
|
| $1,855,000 | 2018 | Serial | 5% | 120.617
|
| $2.54 million | 2019 | Serial | 2% | 101.739
|
| $2,135,000 | 2019 | Serial | 5% | 121.826
|
| $3,125,000 | 2020 | Serial | 3% | 107.484
|
| $965,000 | 2021 | Serial | 3.5% | 110.282
|
| $3.71 million | 2021 | Serial | 5% | 122.623
|
| $835,000 | 2022 | Serial | 4% | 114.044
|
| $3.84 million | 2022 | Serial | 5% | 122.991
|
| $1,735,000 | 2023 | Serial | 2.5% | 99.323
|
| $2.94 million | 2023 | Serial | 5% | NRO
|
| $1,275,000 | 2024 | Serial | 3% | NRO
|
| $3.4 million | 2024 | Serial | 5% | NRO
|
|
|
| $896,145,000 series 2012I G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $60,815,000 | 2013 | Serial | 2.5% | NRO
|
| $1.09 million | 2014 | Serial | 4% | 107.251
|
| $58,315,000 | 2014 | Serial | 5% | 109.384
|
| $31,335,000 | 2015 | Serial | 4% | 109.933
|
| $57,225,000 | 2015 | Serial | 5% | 113.037
|
| $1.48 million | 2016 | Serial | 4% | 112.121
|
| $87.11 million | 2016 | Serial | 5% | 116.174
|
| $5,925,000 | 2017 | Serial | 4% | 113.888
|
| $36.66 million | 2017 | Serial | 5% | 118.865
|
| $3,615,000 | 2018 | Serial | 4% | 114.759
|
| $38.97 million | 2018 | Serial | 5% | 120.617
|
| $1,445,000 | 2019 | Serial | 4% | 115.13
|
| $45.54 million | 2019 | Serial | 5% | 121.826
|
| $980,000 | 2020 | Serial | 4% | 114.969
|
| $41,605,000 | 2020 | Serial | 5% | 122.455
|
| $2,225,000 | 2021 | Serial | 4% | 114.396
|
| $61.44 million | 2021 | Serial | 5% | 122.623
|
| $1.81 million | 2022 | Serial | 4% | 114.044
|
| $61,855,000 | 2022 | Serial | 5% | 122.991
|
| $61.74 million | 2023 | Serial | 5% | NRO
|
| $63,665,000 | 2024 | Serial | 5% | NRO
|
| $26,025,000 | 2025 | Serial | 5% | NRO
|
| $26,025,000 | 2026 | Serial | 5% | NRO
|
| $38.91 million | 2027 | Serial | 5% | NRO
|
| $6,645,000 | 2028 | Serial | 3% | 99.743
|
| $32,265,000 | 2028 | Serial | 5% | NRO
|
| $15,765,000 | 2029 | Serial | 5% | NRO
|
| $3.77 million | 2030 | Serial | 4% | NRO
|
| $5.9 million | 2030 | Serial | 5% | NRO
|
| $11,335,000 | 2031 | Serial | 5% | NRO
|
| $4.66 million | 2032 | Serial | 5% | NRO
|
|
|
| $47,455,000 series 2012J taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $10,025,000 | 2013 | Serial | 1% | 100.63
|
| $9.37 million | 2014 | Serial | 1% | 100.638
|
| $14.03 million | 2015 | Serial | 1% | 100.465
|
| $14.03 million | 2016 | Serial | 1.25% | 100.201
|
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