New Issue: New York Mortgage Agency prices $72.9 million of mortgage revenue bonds

By Sheri Kasprzak

New York, Aug. 31 - The New York Mortgage Agency sold on Tuesday $72.9 million of mortgage revenue bonds in four tranches, said a term sheet.

The bonds were sold through Morgan Stanley & Co. Inc. with Bank of America Merrill Lynch; J.P. Morgan Securities Inc.; Citigroup Global Markets Inc.; George K. Baum & Co. Inc.; Goldman, Sachs & Co.; Ramirez & Co. Inc.; RBC Capital Markets Corp.; and Roosevelt & Cross Inc. as the co-managers.

The deal included $14.8 million of 41st series non-AMT bonds, $5.2 million of 42nd series non-AMT bonds, $14.3 million of 43rd series non-AMT bonds and $38.6 million of 44th series AMT bonds.

The 41st series bonds are due 2011 to 2022 with term bonds due 2025 and 2028. The coupons range from 0.4% to 3.2%, all priced at par. The 2025 bonds have a 3.625% coupon priced at par and the 2028 bonds have a 4% coupon, also priced at par.

The 42nd series bonds are due 2011 to 2018 with coupons from 0.4% to 2.5%, all priced at par.

The 43rd series bonds are due 2011 to 2015 and 2017. The coupons range from 0.4% to 2.3%, all priced at par.

The 44th series bonds are due 2011 to 2014 and 2018 to 2024. The coupons range from 1.15% to 4.35%, all priced at par.

Proceeds will be used to finance mortgage loans.

Issuer:	New York Mortgage Agency
Issue:	Mortgage revenue bonds
Amount:	$72.9 million
Type:	Negotiated
Underwriters:	Morgan Stanley & Co. Inc. (lead), Bank of America Merrill Lynch, J.P. Morgan Securities Inc., Citigroup Global Markets Inc., George K. Baum & Co. Inc., Goldman, Sachs & Co., Ramirez & Co., RBC Capital Markets Corp. and Roosevelt & Cross Inc. (co-managers)
Pricing date:	Aug. 31
Settlement date:	Sept. 30
Series 41
Maturity	Type	Coupon	Price
2011	Serial	0.4%	100
2011	Serial	0.55%	100
2012	Serial	0.75%	100
2012	Serial	0.8%	100
2013	Serial	1%	100
2013	Serial	1.05%	100
2014	Serial	1.3%	100
2014	Serial	1.35%	100
2015	Serial	1.65%	100
2015	Serial	1.7%	100
2016	Serial	2%	100
2016	Serial	2.05%	100
2017	Serial	2.25%	100
2017	Serial	2.3%	100
2018	Serial	2.45%	100
2018	Serial	2.5%	100
2020	Serial	2.95%	100
2021	Serial	3.1%	100
2021	Serial	3.1%	100
2022	Serial	3.2%	100
2022	Serial	3.2%	100
2025	Term	3.625%	100
2028	Term	4%	100
Series 42
Maturity	Type	Coupon	Price
2011	Serial	0.4%	100
2011	Serial	0.55%	100
2012	Serial	0.75%	100
2012	Serial	0.8%	100
2013	Serial	1%	100
2013	Serial	1.05%	100
2014	Serial	1.3%	100
2014	Serial	1.35%	100
2015	Serial	1.65%	100
2015	Serial	1.7%	100
2016	Serial	2%	100
2016	Serial	2.05%	100
2017	Serial	2.25%	100
2017	Serial	2.3%	100
2018	Serial	2.5%	100
Series 43
Maturity	Type	Coupon	Price
2011	Serial	0.4%	100
2011	Serial	0.55%	100
2012	Serial	0.75%	100
2012	Serial	0.8%	100
2013	Serial	1%	100
2014	Serial	1.3%	100
2014	Serial	1.35%	100
2015	Serial	1.65%	100
2015	Serial	1.7%	100
2017	Serial	2.25%	100
2017	Serial	2.3%	100
Series 44
Maturity	Type	Coupon	Price
2011	Serial	1.15%	100
2011	Serial	1.3%	100
2012	Serial	1.5%	100
2012	Serial	1.55%	100
2013	Serial	1.8%	100
2013	Serial	1.85%	100
2014	Serial	2.05%	100
2018	Serial	3.4%	100
2018	Serial	3.45%	100
2019	Serial	3.65%	100
2019	Serial	3.7%	100
2020	Serial	3.9%	100
2021	Serial	4%	100
2023	Serial	4.25%	100
2024	Serial	4.35%	100

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