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City National Securities will be a selling group member for the upcoming $2.7 billion State of California Various Purpose General Obligation Bond (New Money/Refunding) offering. The retail sales period is expected to start August 29, 2016.
|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 notes are expected to receive the ratings of "Aa3" by Moody’s Investors Service, Inc. ("Moody's"), "A+" by Fitch Ratings ("Fitch") and "AA-" by Standard & Poor's Rating Services ("S&P"), a Standard & Poor's Financial Services LLC.|
The State of California (the "State") is by far the most populous state in the nation, over 60 percent larger than the second-ranked state according to the 2000 U.S. Census. The State's July 1, 2008 population of about 38.1 million represented over 12 percent of the total United States 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, agriculture, manufacturing, government, tourism, construction and services. The relative proportion of the various components of the California economy closely resembles the make-up of the national economy.
The Bonds are general obligations of the State to which the full faith and credit of the State are pledged.
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.
We invite you to call City National Municipal Securities Sales at (800) 750-5471, to learn more about this bond offering.
Investment products involve investment risk, including the possible loss of principal. Any offering is subject to availability and price changes. Please note, due to securities regulations requirements, City National Securities registered personnel cannot accept email instructions to buy or sell securities. Electronic mail sent through the Internet is generally not secure and could be intercepted by a third party. For your protection, avoid sending private or confidential information.