California State Issued Municipal Bonds
City National Securities will be a Selling Group Member for the upcoming $2.1 billion State of California Various Purpose General Obligation Bond (New Money/Refunding) offering. The retail sales period is expected to start March 6, 2018. 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 “Aa3” by Moody’s Investors Service, Inc. (“Moody’s”), “AA-” by Fitch Ratings (“Fitch”) and “AA-” by Standard & Poor’s Rating Services (“S&P”), a Standard & Poor’s Financial Services LLC.|
California is by far the most populous state in the nation, nearly 50 percent larger than the second-ranked state according to the 2010 United States Census. The estimate of California’s population as of July 2017 was 39.6 million residents, which was 12 percent of the total U.S. population. California’s economy, the largest among the 50 states and one of the largest and most diverse in the world, has major components in high technology, trade, entertainment, manufacturing, government, tourism, construction and services. The relative proportion of the various components of the California economy closely resemble the make-up of the national economy. The California economy continues to benefit from broad-based growth.
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, Beverly Hills, 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 Municipal Securities Sales at (800) 750-5471, to learn more about this bond offering.
Securities offered through City National Securities, Inc. (member FINRA/SIPC). City National Securities, Inc. is a wholly owned subsidiary of City National Bank. The above described investments are not FDIC insured, not Bank deposit obligations of City National Bank and may lose value. Any offering is subject to availability and price changes. Please consult your tax advisor before making any purchase decisions.
The offering is subject to change and availability; the ultimate amounts and dates can be affected by legal, market, and other factors. The final interest rate will be determined on March 7, 2018. For information on preliminary interest rates, please contact your broker.