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CA Municipal Bond Issues
The State Public Works Board of the State of California announced the issuance of $483,460,000 lease revenue bonds. The agency is planning on issuing $234,460,000 Series A (Various Departments), $98,280,000 Series B (California State University), and $150,720,000 Series C (Department of Corrections and Rehabilitation). City National Securities has been appointed as a Co-Manager for this issue.
| Tax Advantages |
These bonds offer most California residents an excellent opportunity to earn interest that’s exempt from both State and Federal income taxes.. |
| Credit Quality |
The 2011A Bonds and the 2011C Bonds have received the ratings of “A2” by Moody’s Investors Service, Inc. (“Moody’s”), “BBB+” by Fitch Ratings (“Fitch”) and “BBB+” by Standard & Poor’s Rating Services (“S&P”), a Standard & Poor’s Financial Services LLC business. The 2011B Bonds have received the ratings of “Aa3” by Moody’s, “BBB+” by Fitch and “BBB+” by S&P. |
How can I buy State of California Bonds?
City National Securities, the broker/dealer subsidiary of City National Bank, Beverly Hills, CA., is a member of the State’s Underwriting Pool, and participates in the State’s “Buy California Bonds” campaign. We are pleased to offer new and existing clients the opportunity to participate in this upcoming bond offering.
Getting Started
We invite you to call City National Municipal Securities Sales at (800) 750-5471, to learn more about this bond offering.
Non-Deposit Investment Products...
ARE NOT FDIC INSURED
ARE NOT BANK GUARANTEED
MAY LOSE VALUE |
City National Securities, Inc. is a registered broker-dealer and member FINRA/SIPC, and a wholly-owned subsidiary of City National Bank. Investment products available through CNS are not bank deposits or obligations of, or guaranteed by, City National Bank or any subsidiary or affiliate and are not insured by the FDIC or any other government agency and involve investment risk, including the possible loss of principal. Any offering is subject to availability and price changes. Please note, due to securities regulations requirements, CNS registered personnel cannot accept email instructions to buy or sell securities. Electronic mail sent through the Internet is generally not secure and could be intercepted by a third party. For your protection, avoid sending private or confidential information.
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