Municipal Bond New Issues

RE: $150,000,000*
THE HEALTH AND EDUCATIONAL FACILITIES BOARD OF THE
METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON
COUNTY
(THE VANDERBILT UNIVERSITY)
REVENUE BONDS, SERIES 2008 A & B

WE HAVE A RELEASE ON THe RETAIL ORDER PERIOD.

ORDERS UNTIL 4:00 PM EASTERN.

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PLEASE USE THE FOLLOWING RETAIL SCALE.
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75,000,000*
SERIES 2008A

MOODY’S: Aa2 S&P: AA FITCH: AA

DATED: 04/16/2008 FIRST COUPON: 12/30/2008

DUE: 10/01

TAKEDOWN
MATURITY AMOUNT* COUPON PRICE
(pts)

10/01/2009 2,500M NOT OFFERED DURING RETAIL ORDER PERIOD

10/01/2010 2,500M NOT OFFERED DURING RETAIL ORDER PERIOD

10/01/2011 2,500M NOT OFFERED DURING RETAIL ORDER PERIOD

10/01/2012 2,500M NOT OFFERED DURING RETAIL ORDER PERIOD

10/01/2013 15,000M NOT OFFERED DURING RETAIL ORDER PERIOD

10/01/2014 2,500M NOT OFFERED DURING RETAIL ORDER PERIOD

10/01/2015 15,000M NOT OFFERED DURING RETAIL ORDER PERIOD

10/01/2016 2,500M NOT OFFERED DURING RETAIL ORDER PERIOD

10/01/2017 2,500M NOT OFFERED DURING RETAIL ORDER PERIOD

10/01/2018 15,000M NOT OFFERED DURING RETAIL ORDER PERIOD

10/01/2019 2,500M NOT OFFERED DURING RETAIL ORDER PERIOD

10/01/2020 10,000M NOT OFFERED DURING RETAIL ORDER PERIOD

CALL FEATURES: Optional call in 10/01/2018 @ 100.00

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75,000,000*
SERIES 2008B

MOODY’S: Aa2 S&P: AA FITCH: AA

DATED: 04/16/2008 FIRST COUPON: 12/30/2008

DUE: 10/01

TAKEDOWN
MATURITY AMOUNT* COUPON PRICE
(pts)

10/01/2009 2,500M 3.50 % 2.50
1/4
10/01/2010 2,500M 4.00 % 2.82
1/4
10/01/2011 2,500M 4.00 % 2.98
1/4
10/01/2012 2,500M 4.00 % 3.22
1/4
10/01/2013 15,000M 5.00 % 3.32
1/4
10/01/2014 2,500M 4.00 % 3.49
1/4
10/01/2015 15,000M 5.00 % 3.66
1/4
10/01/2016 2,500M 4.50 % 3.84
1/4
10/01/2017 2,500M 4.50 % 4.01
1/4
10/01/2018 15,000M 5.00 % 4.15
1/4
10/01/2019 2,500M 4.25 % 4.31
1/4
10/01/2020 10,000M 4.375 % 4.42
1/4

CALL FEATURES: Optional call in 10/01/2018 @ 100.00

* - APPROXIMATE SUBJECT TO CHANGE

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PRIORITY OF ORDERS AS FOLLOWS:
1. Tennessee Retail
2. National Retail

The compliance addendum MSRB Rule G-11 will apply.

The award is expected on Thursday, April 3, 2008.

Delivery is expected on April 16, 2008.

This issue is book entry through DTC.

Merrill Lynch & Co.
Goldman, Sachs & Co.
J.P. Morgan Securities Inc.

By: Merrill Lynch & Co. New York, NY
Tuesday, April 1, 2008 10:21AM