This Preliminary Official Statement and the information contained herein are subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted prior to the time the Official Statement is delivered in final form. Under no circumstance shall this Preliminary Official Statement constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
PRELIMINARY OFFICIAL STATEMENT DATED JULY 30, 2014
NEW ISSUE In the opinion of Fulbright & Jaworski LLP, Bond Counsel to the City for Tax Matters, interest on the Bonds will be exempt from personal income taxes imposed by the State of New York or any political subdivision thereof, including the City, and assuming continuing compliance with the provisions of the Internal Revenue Code of 1986, as amended, interest on the Bonds will be excludable from the gross income of the owners thereof for federal income tax purposes. See “SECTION IX: OTHER INFORMATION” herein for further information.
The City of New York General Obligation Bonds, Fiscal 2015 Series A and B
Dated: Date of Delivery
Due: As shown on the inside cover page
The Bonds will be issued as registered bonds. The Bonds will be registered in the nominee name of The Depository Trust Company, New York, New York, which will act as securities depository for the Bonds. Interest on the Bonds will be payable on each February 1 and August 1, commencing February 1, 2015. The Bonds can be purchased in principal amounts of $5,000 or any integral multiple thereof. Other terms of the Bonds including redemption provisions are described herein. A detailed schedule of the Bonds is set forth on the inside cover page. The Bonds are offered subject to prior sale, when, as and if issued by the City and accepted by the Underwriters. The issuance of the Bonds is subject to the approval of the legality of the Bonds by Sidley Austin LLP, New York, New York, Bond Counsel to the City, and to certain other conditions. Certain legal matters will be passed upon for the City by Fulbright & Jaworski LLP, a member of Norton Rose Fulbright, New York, New York, Bond Counsel to the City for Tax Matters. Certain legal matters in connection with the preparation of this Official Statement will be passed upon for the City by Orrick, Herrington & Sutcliffe LLP, New York, New York, Special Disclosure Counsel to the City. Certain legal matters will be passed upon for the Underwriters by Squire Patton Boggs (US) LLP, New York, New York, and D. Seaton and Associates, New York, New York, Co-Counsel to the Underwriters. It is expected that the Bonds will be available for delivery in New York, New York, on or about September 4, 2014. BofA Merrill Lynch Citigroup J.P. Morgan
Jefferies Siebert Brandford Shank & Co., L.L.C.
Barclays Capital Fidelity Capital Markets Janney Montgomery Scott LLC Lebenthal & Co., LLC PNC Capital Markets LLC Ramirez & Co., Inc. RBC Capital Markets Rice Financial Products Company Southwest Securities, Inc. Blaylock Beal Van, LLC August
* Subject to change.
Cabrera Capital Markets, LLC TD Securities (USA) LLC
Goldman, Sachs & Co. Loop Capital Markets LLC Raymond James Roosevelt & Cross Incorporated Wells Fargo Securities Drexel Hamilton, LLC
$900,000,000* General Obligation Bonds, Fiscal 2015 Series A and B
$700,000,000* Fiscal 2015 Series A Bonds Interest Price or Rate Yield
$200,000,000* Fiscal 2015 Series B Bonds Interest Price or Rate Yield
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