Bond Selection

Our expertise as municipal bond specialists – paired with diligent credit research – enable us to find and seize opportunities in market inefficiencies with the goal to produce above average returns.

The tables below are a sample of our current bond offerings. Contact us to learn more about any bond or others like it.

Tax-exempt Offerings

Moody S&P Insurer Cust Ofr ($,000s) Description Call 1 CUSIP Mat Dt Cpn(%) Price Yield(%) YTM(%) Taxable
50 BOLINGBROOK IL PARK DIST UTGO 097558KM1 12/30/2026 4.000 116.390 1.350 n
BAM 50 BLOOMINGTON IN WTRWKS REVENUE 094743MR9 1/1/2027 3.000 110.865 1.250 n
430 PLAINFIELD IN REDEV AUTH LEASE REV 726305NQ4 2/1/2028 5.000 127.822 1.150 n
BAM 10 FORT DODGE IA CMNTY SCH DIST UTGO Callable 5/1/2024 @ 100 347244AN5 5/1/2028 2.500 104.643 1.250 1.859 n
SCH BD RES 280 MIDDLESEX CNTY NJ  UTGO Callable 7/1/2027 @ 100 59656NK92 7/1/2028 2.000 105.683 1.150 1.249 n
BAM 160 NORTHVIEW MI PUBLIC SCHS DIST SER I 667196MG1 5/1/2029 5.000 130.241 1.350 n
BAM 190 NORTHVIEW MI PUBLIC SCHS DIST SER I 667196MH9 5/1/2030 5.000 132.371 1.450 n
ST HGR ED 65 COLORADO ST BRD OF GOVERNORS Callable 9/1/2027 @ 100 196707VW0 3/1/2031 5.000 126.352 1.150 2.209 n
100 STERLING HEIGHTS MI LTGO CAPITAL Callable 4/1/2027 @ 100 859328C79 4/1/2031 3.000 110.924 1.300 1.872 n
MUN GOVT G 250 PINE HILL BORO NJ MUNI UTIL AUTH BQ Callable 8/1/2028 @ 100 72259EAL0 8/1/2031 3.000 110.551 1.600 1.936 n
100 BIDDEFORD ME LIMITED TAX GO BQ Callable 11/1/2022 @ 100 088833NB0 11/1/2031 2.500 103.425 1.000 2.157 n
125 GLENCOE IL  UTGO BQ Callable 12/15/2028 @ 100 378064LM9 12/15/2031 2.000 106.399 1.200 1.393 n
5 BATAVIA IL REF UTGO Callable 1/1/2025 @ 100 070372NL7 1/1/2032 3.250 106.440 1.750 2.598 n
5 DU PAGE CNTY IL HSD #87 UTGO Callable 1/1/2025 @ 100 263309PS9 1/1/2033 3.250 106.440 1.750 2.641 n
BAM 20 NORTHVIEW MI PUBLIC SCHS DIST SER I Callable 5/1/2030 @ 100 667196ML0 5/1/2033 2.000 98.880 2.100 n
500 ILLINOIS ST FIN AUTH REVENUE Callable 8/15/2022 @ 100 45203HPR7 8/15/2033 4.000 106.234 1.000 3.406 n
Q-SBLF 20 CLIO MI AREA SCH DIST SER I UTGO Callable 5/1/2030 @ 100 188792EE1 5/1/2036 2.250 100.000 2.250 2.250 n
BAM 165 NORTHVIEW MI PUBLIC SCHS DIST SER I Callable 5/1/2030 @ 100 667196MQ9 5/1/2037 2.250 99.304 2.300 n
1000 ILLINOIS ST FIN AUTH REVENUE Callable 8/15/2022 @ 100 45203HPS5 8/15/2037 5.000 108.312 1.000 4.308 n
15 SAINT PETERSBURG FL UTIL REV Callable 10/1/2022 @ 100 793323MW3 10/1/2037 3.800 105.031 1.500 3.411 n
340 GLENCOE IL  UTGO BQ Callable 12/15/2028 @ 100 378064LT4 12/15/2037 2.000 103.144 1.600 1.789 n
5 ILLINOIS FIN AUTH REV ART INSTITUTE Callable 3/1/2026 @ 100 45204EHD3 3/1/2038 3.125 104.616 2.250 2.792 n
50 GLENCOE IL  UTGO BQ Callable 12/15/2028 @ 100 378064LV9 12/15/2039 2.000 100.000 2.000 2.000 n
AGM 150 STANDARD CA SCH DIST  UTGO Callable 8/1/2028 @ 100 853207FC7 8/1/2041 2.375 99.587 2.400 n
300 FULTON CNTY GA WTR & SWR REVENUE Callable 1/1/2030 @ 100 360066PP3 1/1/2042 2.250 99.500 2.280 n
Q-SBLF 190 ALPENA MI PUBLIC SCHS REF UTGO Callable 5/1/2030 @ 100 020663NX4 5/1/2045 2.500 99.082 2.550 n
BAM 20 NORTHVIEW MI PUBLIC SCHS DIST SER I Callable 5/1/2030 @ 100 667196MY2 5/1/2045 2.500 98.177 2.600 n
545 WILMETTE IL SER A UTGO Callable 12/1/2029 @ 100 971481TX4 12/1/2045 2.375 97.659 2.500 n
200 QUINCY MA  LTGO Callable 6/1/2029 @ 100 748508UM8 6/1/2049 2.375 98.452 2.450 n
450 WILMETTE IL SER A UTGO Callable 12/1/2029 @ 100 971481UC8 12/1/2050 2.500 98.945 2.550 n

*Tax-Free Offerings are free from current Federal income taxes only. Income may be subject to state and local taxes and the alternative minimum tax (AMT). AMBAC, MBIA, XLCA, FGIC and CIFG are on credit watch for possible downgrade.

Taxable Offerings

Moody S&P Insurer Cust Ofr ($,000s) Description Call 1 CUSIP Mat Dt Cpn(%) Price Yield(%) YTM(%) Taxable
BAM 555 GRUNDY CNTY IL SCH DIST #54 TAXABLE 400316FD2 12/1/2022 1.000 100.000 1.000 y
BAM 1000 GRUNDY CNTY IL SCH DIST #54 TAXABLE 400316FE0 12/1/2023 1.100 100.000 1.100 y
BAM 685 GRUNDY CNTY IL SCH DIST #54 TAXABLE 400316FF7 12/1/2024 1.200 100.000 1.200 y
390 HONOLULU CITY & CNTY HI WTR SYS REV Callable 7/1/2024 @ 100 438689KE0 7/1/2031 3.860 110.934 1.050 2.703 y
1065 CALIFORNIA ST TAXABLE UTGO Callable 4/1/2028 @ 100 13063DGD4 4/1/2033 4.500 119.807 1.750 2.656 y

May lose principal • Not FDIC insured • Not appropriate for all investors
Past performance does not guarantee future returns
This text contains privileged and/or confidential information. If you are not the intended recipient, you may not disclose, use, disseminate, copy or rely upon this message or attachment in any way. If you received this message in error, please return by forwarding the message and its attachments to the sender. There are or may be pending in the Congress of the United States legislative proposals, including some that carry retroactive effective dates, that, if enacted, could alter or amend the federal tax matters referred to above or affect the market value of bonds. It cannot be predicted whether or in what form any such proposal might be enacted or whether, if enacted, it would apply to bonds issued prior to enactment. Prospective purchasers of bonds should consult their own tax advisors regarding any pending or proposed federal tax legislation. We express no opinion regarding any pending or proposed federal tax legislation. This text is a current opinion and is subject to change at anytime. This information is taken from public sources we believe to be reliable, but we cannot assure complete accuracy. Nothing in this document represents a recommendation of any particular strategy, security or investment product. This information is distributed for educational purposes only and none of this information and analysis is, or is intended to be personalized investment advice. Bernardi Securities, Inc. is not acting in an investment advisory or municipal advisor capacity and the opinions and views contained herein are not intended to be and do not constitute advice within the meaning of Section 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The rights of the owners of any bond and the enforceability of these rights may be limited by bankruptcy, insolvency, moratorium, reorganization and other similar laws affecting creditors’ rights and by equitable principles, whether considered at law or in equity, including the exercise of judicial discretion. Bernardi Securities, Inc. offerings are made by prospectus or official statement only. Past performance figures are not indicative of future returns. All e-mail correspondence is subject to review by someone other than the sender or recipient. Time sensitive requests such as trade orders and distribution requests must be requested directly through your Investment Specialist or Portfolio Manager. No part of this publication may be reproduced in any form, without the express written consent of Bernardi Securities, Inc. Bernardi Securities Inc. and its affiliates do not accept liability for any errors, omissions or viruses in the contents of this message or any attachments that may arise as a result of e-mail transmissions. Securities described as tax-free or tax-exempt imply that the income is exempt from current federal income tax. These securities may be subject to state and local taxes, the federal alternative minimum tax (AMT), capital gains tax, or other taxes. Please consult your tax professional regarding suitability.

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