The Trustees of the California State University Systemwide Revenue Bonds

We are pleased to announce that Fidelity Capital Markets has been chosen as a co-manager for The Trustees of the California State University's upcoming $1,144 million1 Systemwide Revenue Bond sale.

What is the opportunity?

The Trustees of the California State University (the "Board") is expected to come to market with $1,144 million1 in Systemwide Revenue Bonds, Series 2017A and Taxable Series 2017B (the "Series 2017 Bonds").

The Board is issuing the Series 2017 Bonds for the purpose of providing funds to finance and refinance the acquisition, construction, renovation and improvement of certain facilities of the California State University and to refinance certain prior bonds to achieve debt service savings.

The Series 2017 Bonds are being issued on parity with other bonds of the Board that have been issued previously or may be issued in the future pursuant to the Indenture. The pledge of and lien on the Gross Revenues under the Indenture secures bonds issued under the Indenture on a parity basis and is senior to other indebtedness of the Board.

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, and the potential for stable income through call dates. And, for California residents, federal and state tax-exemption on Series A bonds. Series B bonds are federally taxable.

How to place an order

The offering is expected to price the week of February 61, 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 AlertsLog In Required  and see our Municipal Bond New Issue Offerings.

Additional resources

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

California State Treasurer
Learn more about how to invest in California bonds and notes.

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

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