What is the opportunity?
- Potential for stable, tax-exempt income for California residents2
- Bond sale consists of two fixed-rate series of bonds: 2014 Series B (backed by the Judicial Council of California) and 2014 Series C (backed by the Department of Corrections and Rehabilitation)
- Bond ratings of A2 from Moody's, and A- from S&P and Fitch3
- Bonds are secured primarily by rental payments from participating agencies. However, bonds are not obligations of the State of California.
- Same prices and yields to individual investors as institutional with allocation priority given to California retail clients
When can I place my order?
Individual investors may place orders during the retail order period starting Wednesday, April 9. Please note that the underwriters may close the retail period (or certain maturities) early due to market conditions, or in the event the bonds are all sold. As a result, interested individual investors are encouraged to place their orders at their earliest convenience.