New Issue: Rhode Island Housing prices $85.62 million of homeownership bonds

By Sheri Kasprzak

New York, June 8 - The Rhode Island Housing and Mortgage Finance Corp. sold $85,615,000 of series 62 homeownership opportunity bonds, said a pricing sheet.

The deal included $10.26 million of series 62-A non-AMT bonds, $15 million of series 62-B non-AMT bonds and $60,355,000 of series 62-C AMT bonds.

The 62-A bonds are due 2012 to 2021 with 0.35% to 3.125% coupons, all priced at par. The 62-B bonds are due 2021 to 2022 with term bonds due in 2024 and 2028. The serial coupons range from 3.125% to 3.25% priced at par. The 2024 bonds have a 3.5% coupon priced at 99 and the 2028 bonds have a 4% coupon priced at 99.404. The 62-C bonds are due 2012 to 2022 with a term bond due in 2028. The serial coupons range from 0.7% to 3.875%, all priced at par. The 2028 bonds have a 4.5% coupon priced at par.

The bonds were sold through Bank of America Merrill Lynch and Morgan Stanley & Co. LLC. The co-managers were Janney Montgomery Scott LLC, J.P. Morgan Securities LLC, M.R. Beal & Co. Inc., Oppenheimer & Co. Inc., RBC Capital Markets LLC and Roosevelt & Cross Inc.

Proceeds will be used to make mortgage loans.

Issuer:	Rhode Island Housing and Mortgage Finance Corp.
Issue:	Series 62 homeownership opportunity bonds
Amount:	$85,615,000
Type:	Negotiated
Underwriters:	Bank of America Merrill Lynch and Morgan Stanley & Co. LLC (lead), Janney Montgomery Scott LLC, J.P. Morgan Securities LLC, M.R. Beal & Co. Inc., Oppenheimer & Co. Inc., RBC Capital Markets LLC and Roosevelt & Cross Inc. (co-managers)
Pricing date:	June 7
Settlement date:	July 3
$10.26 million series 62-A non-AMT bonds
Amount	Maturity	Type	Coupon	Price
$420,000	2012	Serial	0.35%	100
$395,000	2013	Serial	0.55%	100
$545,000	2013	Serial	0.7%	100
$400,000	2014	Serial	0.75%	100
$585,000	2014	Serial	0.95%	100
$455,000	2015	Serial	1.2%	100
$590,000	2015	Serial	1.3%	100
$480,000	2016	Serial	1.4%	100
$620,000	2016	Serial	1.5%	100
$490,000	2017	Serial	1.8%	100
$660,000	2017	Serial	1.9%	100
$1.23 million	2018	Serial	2.1%	100
$595,000	2018	Serial	2.15%	100
$685,000	2019	Serial	2.5%	100
$685,000	2019	Serial	2.5%	100
$560,000	2020	Serial	2.875%	100
$735,000	2020	Serial	2.875%	100
$130,000	2021	Serial	3.125%	100
$15 million series 62-B non-AMT bonds
Amount	Maturity	Type	Coupon	Price
$710,000	2021	Serial	3.125%	100
$855,000	2021	Serial	3.125%	100
$1.42 million	2022	Serial	3.25%	100
$1.04 million	2022	Serial	3.25%	100
$4,915,000	2024	Term	3.5%	99
$6.06 million	2028	Term	4%	99.404
$60,355,000 series 62-C AMT bonds
Amount	Maturity	Type	Coupon	Price
$995,000	2012	Serial	0.7%	100
$940,000	2013	Serial	1.1%	100
$1.3 million	2013	Serial	1.35%	100
$950,000	2014	Serial	1.5%	100
$1,395,000	2014	Serial	1.7%	100
$1.09 million	2015	Serial	1.9%	100
$1,415,000	2015	Serial	2%	100
$1.14 million	2016	Serial	2.1%	100
$1.48 million	2016	Serial	2.25%	100
$1.17 million	2017	Serial	2.55%	100
$1.58 million	2017	Serial	2.75%	100
$2.94 million	2018	Serial	3%	100
$1,425,000	2018	Serial	3.05%	100
$395,000	2019	Serial	3.15%	100
$50,000	2019	Serial	3.2%	100
$1.34 million	2020	Serial	3.5%	100
$350,000	2020	Serial	3.5%	100
$560,000	2021	Serial	3.75%	100
$855,000	2022	Serial	3.85%	100
$2.48 million	2022	Serial	3.875%	100
$10.28 million	2022	Serial	3.875%	100
$26,225,000	2028	Term	4.5%	100

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