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The Atlanta Development Authority Revenue Bonds (New Downtown Atlanta Stadium Project)

We are pleased to announce that Fidelity Capital Markets has been chosen as a co-manager for the Atlanta Development Authority's upcoming $219 million1 Revenue Bonds (New Downtown Atlanta Stadium Project) sale.

What is the opportunity?

The Atlanta Development Authority ("Invest Atlanta") will come to market with $219 million1 in revenue bonds, Series 2015 A-1, A-2 and B, which will be used to provide funds to finance or refinance the development, construction and equipping of a new operable roof, state-of-the-art, multi-purpose stadium to replace the existing Georgia Dome facility. The new stadium will serve as home field for the Atlanta Falcons, the professional football team that is a franchise in the National Football League (the "NFL"). The bonds are special limited obligations of Invest Atlanta, secured by and payable solely from Hotel Motel Taxes collected by the City of Atlanta. The bonds do not constitute an indebtedness of the City of Atlanta or the State of Georgia. The issuer has no taxing power.

Key benefits

The bond sale offers several attractive benefits for individual investors, who are residents of Georgia, including tax-exemption for the Series 2015A-1 and 2015B bonds on both the federal and state level. The Series 2015A-2 bonds are taxable. All Series offer potential for stable income, priority allocation when bonds are issued, and prices and yields that match those available to institutional investors. The Series 2015A-1 and 2015A-2 bonds are rated Aa3 by Moody's and A+ from S&P2. The Series 2015B bonds are rated A1 by Moody's and A from S&P2.

How to place an order

Individual investors may place orders during the order period, starting on Thursday, May 7. The sale may close early, due to market conditions or because all of the bonds may be allocated.

Additional resources

Municipal Bonds
Review the risks and benefits of investing in municipal bonds.

Municipal Bonds: Understanding Credit Risk (PDF)
Learn more about assessing credit risks when purchasing municipal bonds in this SEC investor bulletin.

Investing in a volatile bond market
Get the latest insights on the bond market, outlook for future rates, and investment strategies from Fidelity Viewpoints®.

Three reasons to consider munis now
Higher tax rates, relative interest rates, and diversification may make munis worth a look.

This information does not constitute an offer of any securities for sale.
The municipal market can be affected by adverse tax, legislative or political changes and the financial condition of the issuers of municipal securities.
1. Preliminary, subject to change
2. As of April 27, 2015. Ratings are subject to change or withdrawal by the ratings agencies at any time.
Interest income earned from tax-exempt municipal securities generally is exempt from federal income tax, and may also be exempt from state and local income taxes if you are a resident in the state of issuance. A portion of the income you receive may be subject to federal and state income taxes, including the federal alternative minimum tax. Before making any investment, you should review the official statement for the relevant offering for additional tax and other considerations.
The municipal market can be adversely affected by tax, legislative, or political changes and the financial condition of the issuers of municipal securities. Investing in municipal bonds for the purpose of generating tax-exempt income may not be appropriate for investors in all tax brackets or for all account types. Tax laws are subject to change and the preferential tax treatment of municipal bond interest income may be revoked or phased out for investors at certain income levels. You should consult your tax adviser regarding your specific situation.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk, liquidity risk, call risk and credit and default risks for both issuers and counterparties.
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Bond

an interest-bearing security for which the issuer agrees to pay the bondholder a specified sum of money, usually at specific intervals (known as a coupon), and to repay the principal amount of the loan at maturity; Zero-coupon bonds pay both the imputed interest and the principal at maturity

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maturity, maturity date(s)

the date on which the principal amount of a fixed income security is scheduled to become due and payable, typically along with any final coupon payment. It is also a list of the maturity dates on which individual bonds issued as part of a new issue municipal bond offering will mature

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Moody's

an independent organization that assigns credit ratings to debt instruments and securities to help investors assess credit risk

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Standard & Poor's (S&P) Corporation

an independent company that provides investors with market intelligence in the form of credit ratings, indices, investment research and risk evaluations and solutions

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yield

the percentage of return an investor receives based on the amount invested or on the current market value of holdings; it is expressed as an annual percentage rate; yield stated is the yield to worst — the yield if the worst possible bond repayment takes place, reflecting the lower of the yield to maturity or the yield to call based on the previous close