California State Issued Municipal Bonds

City National Securities will be a part of the selling group for the upcoming $2.29 billion State of California Various Purpose General Obligation Bond (New Money/Refunding) offering. The retail order period is expected to start September 4, 2019. 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”).

Issuer Summary

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 2018 was 39.8 million residents, which was 12 percent of the total United States population. California's economy, the largest among the 50 states and one of the largest in the world, has major components in high technology, trade, entertainment, manufacturing, government, tourism, construction, and services.

Bond Security

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 Started

We 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 5, 2019. 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

Securities offered through City National Securities, Inc. (member FINRA/SIPC). These investments are not FDIC insured, not Bank Deposits or obligations of City National Bank and may lose value.