The City of Phoenix, Arizona General Obligation Refunding Bonds, Series 2016

We are pleased to announce that Fidelity Capital Markets has been chosen as a co-manager for the City of Phoenix, Arizona upcoming $232.2 million1 bond sale.

The City of Phoenix, Arizona (the "City") is expected to come to market with $232.2 million1 in General Obligation Bonds, Series 2016 (the "Series 2016 Bonds"). The proceeds of the Bonds will be used to refund certain of the City's general obligation indebtedness. See the Preliminary Official Statement for details.

The Series 2016 Bonds are direct and general obligations of the City of Phoenix, Arizona, and are payable as to both principal and interest from ad valorem taxes.

The Series 2016 Bonds are expected to be rated rated Aa1 by Moody's and AA+ by S&P.2

Traditionally, municipal bonds will be subject to optional call features, and term bonds will generally have a Mandatory Sinking Fund feature. Please review the structure on the day of the pricing before placing an order.

Key benefits

The bond sale offers attractive benefits to individual investors, including: prices and yields that match those available to institutional investors; the potential for stable income through the call dates; and, for Arizona residents, federal and state tax exemption on the bond coupon payments.

How to place an order

The offering is expected to price the week of August 22, although market conditions and/or the discretion of the issuer may alter the anticipated timeline. Individual investors can place orders onlineLog In Required or by calling a Fidelity representative at 800-544-5372. To stay up-to-date on pricing, credit rating changes, and more, please sign up for Fidelity Alerts or visit our Municipal Bond New Issue Offerings page.

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®.

MSRB - Risks and opportunities of interest rate movements
Read about the impact of market interest rate movement on municipal bond prices and yields from the MSRB Education Center.