By Sheri Kasprzak
New York, Sept. 30 - New York City came to market with $1.83 billion in series 2010A-C general obligation bonds on Wednesday, according to pricing sheets.
The bonds (Aa3//AA-) were sold through Morgan Stanley & Co. Inc. The co-managers included Citigroup Global Markets Inc.; J.P. Morgan Securities Inc.; Merrill Lynch & Co. Inc.; Siebert Brandford Shank & Co. LLC; Barclays Capital Inc.; M.R. Beal & Co.; Fidelity Capital Markets; Goldman, Sachs & Co.; Jefferies & Co.; Loop Capital Markets LLC; Ramirez & Co. Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Southwest Securities Inc.; Wachovia Bank NA; Cabrera Capital Markets Inc.; Lebenthal & Co. LLC; Raymond James & Associates Inc.; Jackson Securities Inc.; MFR Securities Inc.; RBC Capital Markets Corp.; Janney Montgomery Scott LLC; Morgan Keegan & Co. Inc.; and TD Securities.
The 2010A-1 bonds are due 2011 to 2017 with coupons from 1.472% to 4.053%, all priced at par. The 2010A-2 bonds are due 2022 to 2024 with term bonds due 2031 and 2034. The serial coupons range from 4.589% to 4.869%. The 2031 bonds have a 5.206% coupon, priced at par, and the 2034 bonds have a 5.676% coupon, also priced at par.
The 2010B bonds are due 2010 to 2027 with coupons from 2% to 5%.
The 2010C bonds are due 2011 to 2026 with coupons from 3% to 5%.
Proceeds will be used to fund capital expenditures.
| Issuer: | New York City
|
| Issue: | Series 2010A-C general obligation bonds
|
| Amount: | $1.83 billion
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. (lead); Citigroup Global Markets Inc.; J.P. Morgan Securities Inc.; Merrill Lynch & Co. Inc.; Siebert Brandford Shank & Co. LLC; Barclays Capital Inc.; M.R. Beal & Co.; Fidelity Capital Markets; Goldman, Sachs & Co.; Jefferies & Co.; Loop Capital Markets LLC; Ramirez & Co. Inc.; | Rice Financial Products Co.; Roosevelt & Cross Inc.; Southwest Securities Inc.; Wachovia Bank NA; Cabrera Capital Markets Inc.; Lebenthal & Co. LLC; Raymond James & Associates Inc.; Jackson Securities Inc.; MFR Securities Inc.; RBC Capital Markets Corp.; Janney Montgomery Scott LLC; Morgan Keegan & Co. Inc.; and TD Securities (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Fitch: AA-
|
| Pricing date: | Sept. 30
|
| Settlement date: | Oct. 15
|
|
|
| Series 2010A-1
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 1.472% | 100
|
| 2012 | Serial | 2.045% | 100
|
| 2013 | Serial | 2.917% | 100
|
| 2014 | Serial | 3.117% | 100
|
| 2015 | Serial | 3.397% | 100
|
| 2016 | Serial | 3.823% | 100
|
| 2017 | Serial | 4.053% | 100
|
|
|
| Series 2010A-2
|
| Maturity | Type | Coupon | Price
|
| 2022 | Serial | 4.589% | 100
|
| 2022 | Serial | 4.669% | 100
|
| 2023 | Serial | 4.769% | 100
|
| 2024 | Serial | 4.869% | 100
|
| 2031 | Term | 5.206% | 100
|
| 2034 | Term | 5.676% | 100
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 2% | 100.995
|
| 2011 | Serial | 2% | 101.665
|
| 2012 | Serial | 2% | 101.500
|
| 2013 | Serial | 2.5% | 102.332
|
| 2014 | Serial | 3% | 103.758
|
| 2015 | Serial | 3% | 102.952
|
| 2016 | Serial | 4% | 108.017
|
| 2017 | Serial | 3% | 100.551
|
| 2018 | Serial | 3% | 99.461
|
| 2019 | Serial | 3.125% | 99.370
|
| 2020 | Serial | 3.25% | 99.186
|
| 2021 | Serial | 3.375% | 99.179
|
| 2021 | Serial | 5% | NRO
|
| 2022 | Serial | 3.5% | 99.587
|
| 2022 | Serial | 5% | NRO
|
| 2023 | Serial | 3.5% | 98.809
|
| 2023 | Serial | 5% | NRO
|
| 2024 | Serial | 3.625% | 99.260
|
| 2024 | Serial | 5% | NRO
|
| 2025 | Serial | 3.625% | 98.516
|
| 2025 | Serial | 5% | NRO
|
| 2026 | Serial | 3.75% | 98.889
|
| 2026 | Serial | 5% | NRO
|
| 2027 | Serial | 3.875% | 99.422
|
|
|
| Series 2010C
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 2% | 101.665
|
| 2011 | Serial | 3% | 103.438
|
| 2011 | Serial | 5% | 106.983
|
| 2012 | Serial | 2% | 101.500
|
| 2012 | Serial | 5% | 109.685
|
| 2013 | Serial | 3% | 104.156
|
| 2013 | Serial | 5% | 111.449
|
| 2014 | Serial | 4% | 108.287
|
| 2014 | Serial | 5% | 112.817
|
| 2015 | Serial | 3% | 102.952
|
| 2015 | Serial | 5% | 113.693
|
| 2016 | Serial | 3% | 101.848
|
| 2016 | Serial | 5% | 114.186
|
| 2017 | Serial | 5% | 114.402
|
| 2018 | Serial | 3% | 99.461
|
| 2018 | Serial | 4% | 107.116
|
| 2018 | serial | 5% | 114.771
|
| 2019 | Serial | 4% | 106.677
|
| 2019 | Serial | 5% | 115.027
|
| 2020 | Serial | 5% | NRO
|
| 2021 | Serial | 5% | NRO
|
| 2022 | Serial | 4% | NRO
|
| 2022 | Serial | 5% | NRO
|
| 2023 | Serial | 4% | NRO
|
| 2023 | Serial | 5% | NRO
|
| 2024 | Serial | 4% | NRO
|
| 2024 | Serial | 5% | NRO
|
| 2025 | Serial | 4% | NRO
|
| 2025 | Serial | 5% | NRO
|
| 2026 | Serial | 4% | NRO
|
| 2026 | Serial | 5% | NRO
|
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