California State Issued Municipal Bonds
City National Securities will be a part of the Selling Group for the upcoming $2.4 billion State of California Various Purpose General Obligation Bond (New Money/Refunding) offering. The retail order period is expected to start September 1, 2020. Please check back for more details.
|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 bonds are expected to receive the ratings of “Aa2” by Moody’s Investors Service, Inc. (“Moody’s”), “AA” by Fitch Ratings (“Fitch”) and “AA-” by Standard & Poor’s Rating Services (“S&P”).|
California is by far the most populous state in the nation, with an estimated 39.96 million residents as of 2019. Its population is nearly 40 percent larger than that of the second most populous state and it contains 12 percent of the total U.S. population. The state’s population is projected to continue to grow over the long term and reach 45 million residents by 2060. California’s economy accounted for 14.6 percent of the U.S. Gross Domestic Product (“GDP”) in the first three quarters of 2019 and is currently the fifth largest in the world (in terms GDP). The state has a diverse economy with major components in high technology, trade, entertainment, manufacturing, government, tourism, construction, and services.
The bonds are General Obligations of the State to which the full faith and credit of the State are pledged.
How can I buy State of California Bonds?
City National Securities, the broker/dealer subsidiary of City National Bank, Los Angeles, 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 StartedWe invite you to call City National Securities at (800) 750-5471 to learn more about this bond offering.
*Subject to change; the ultimate amounts and dates can be affected by legal, market, and other factors. The final interest rate will be determined on September 2, 2020. An investor should consider the investment objectives, risks, and charges and expenses associated with municipal fund securities before investing. For information on preliminary interest rates, please contact your broker.
The official statement should be read carefully before investing. For more information about this bond offering visit www.buycaliforniabonds.com/state-of-california-ca/bond-offerings/i27.