Last Updated Dec. 20, 2011
| Rates | |||||
| Years | U.S. Treasury |
Uncollateralized Inv. Agreement |
Collateralized Inv. Agreement |
SIFMA Swap |
LIBOR Swap |
| 1 | 0.11% | 1.24% | 0.94% | 0.37% | 0.69% |
| 1.5 | 0.18% | 1.46% | 1.16% | 0.42% | 0.71% |
| 2 | 0.25% | 1.39% | 1.09% | 0.47% | 0.74% |
| 3 | 0.38% | 1.24% | 0.74% | 0.61% | 0.84% |
| 4 | 0.60% | 1.44% | 0.94% | 0.82% | 1.04% |
| 5 | 0.85% | 1.52% | 1.02% | 1.05% | 1.27% |
| 7 | 1.37% | 2.04% | 1.54% | 1.46% | 1.69% |
| 10 | 1.92% | 2.49% | 2.99% | 1.85% | 2.09% |
| 15 | 2.38% | 2.80% | 2.30% | 2.22% | 2.45% |
| 20 | 2.58% | 2.81% | 2.31% | 2.38% | 2.56% |
| 30 | 2.92% | 2.83% | 2.33% | 2.55% | 2.65% |
|
Investment agreements generally allow funds to be drawn at any time, without cost or penalty, for fund purposes. DSRF amount of at least $1m and "A" rated issuer. Program Fund IA rates correspond to the anticipated average life, $20m. All swap rates are mid market. |
| Interest at Closing | ||
| Years | DSR
% of Invested Amount |
Revenue Fund % of Principal |
| 5 | 20% | 0.50% |
| 7 | 26% | 0.60% |
| 10 | 34% | 0.80% |
| 15 | 43% | 1.00% |
| 20 | 52% | 1.15% |
| 30 | 60% | 1.45% |
|
The above percentages when multiplied by the DSR amount or the par amount of bonds indicate the amount of money that may be paid to the issuer at the closing of the investment, and represent the present value of the interest earnings over the specified term, Actual amounts will vary based on issuer credit. Revenue fund percentages assume 1/6, 1/12 deposits. |
| SIFMA Cap Prices in Basis Points at Closing | |||
| Years | 4.00% | 5.00% | 6.00% |
| 3 | 30 | 26 | 24 |
| 5 | 98 | 72 | 65 |
| 7 | 246 | 180 | 137 |
| 10 | 554 | 407 | 312 |
| 15 | 1139 | 851 | 662 |
| Market Indices | |
| SIFMA Index | 0.11% |
| 1 mo. LIBOR | 0.29% |
| 3 mo. LIBOR | 0.57% |
Please note that all
rates and prices are indications only. IA rates
do not include the valu-e of the option to withdraw at par under any market
condition.
| 11845
W. Olympic Blvd., #540 Los Angeles, CA 90064 Tel: (310) 954-8800 Fax: (310) 954-8900 Christopher Winters cwinters@winters-co.com |
5
Mansfield Place Westport, CT 06880 Tel: (704) 661-7293 Fax: (704) 367-1599 Phillip Murphy pmurphy@winters-co.com |
2309 Ossenfort Road St. Louis, MO 63038 Tel: (636) 273-9440 Fax: (801) 469-0453 Patrick Murphy patrick.murphy@winters-co.com |