Municipal Bond New Issues

Wednesday, October 8, 2008 9:20AM
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RE: $27,935,000*
CITY OF COLORADO SPRINGS, COLORADO
UTILITIES SYSTEM
REFUNDING REVENUE BONDS
SERIES 2008B
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–PRELIM PRICING

MOODY’S: Aa2 S&P: AA FITCH: AA

DATED: 10/29/2008 FIRST COUPON: 05/15/2009

DUE: 11/15

[More:]

TAKEDOWN
MATURITY AMOUNT* COUPON PRICE
(pts)

11/15/2009 680M 3.00 % 2.48
0.275
(Approx. $ Price 100.532)
11/15/2010 760M 3.00 % 2.81
0.275
(Approx. $ Price 100.374)
11/15/2011 785M 3.10 % 3.18
0.275
(Approx. $ Price 99.768)
11/15/2012 810M 3.40 % 3.47
0.275
(Approx. $ Price 99.736)
11/15/2013 835M 3.50 % 3.66
0.275
(Approx. $ Price 99.267)
11/15/2014 865M 4.00 % 3.87
0.275
(Approx. $ Price 100.693)
11/15/2015 895M 4.00 % 4.07
0.275
(Approx. $ Price 99.573)
11/15/2016 930M 4.50 % 4.27
0.275
(Approx. $ Price 101.55 )
11/15/2017 975M 4.50 % 4.45
0.275
(Approx. $ Price 100.366)
11/15/2018 1,020M 4.50 % 4.61
0.275
(Approx. $ Price 99.121)
11/15/2019 1,065M 4.60 % 4.79
0.275
(Approx. $ Price 98.382)
11/15/2020 1,115M 4.75 % 4.98
0.275
(Approx. $ Price 97.932)
11/15/2021 1,165M 5.00 % 5.15
0.275
(Approx. $ Price 98.585)
11/15/2022 1,225M 5.10 % 5.28
0.275
(Approx. $ Price 98.227)

11/15/2028 8,845M 5.375 % 5.48
0.275
(Approx. $ Price 98.729)

11/15/2033 5,965M 5.40 % 5.52
0.275
(Approx. $ Price 98.378)

CALL FEATURES: Optional call in 11/15/2018 @ 100.00

BY LOT SINKING FUND SCHEDULE

2028 TERM BOND

11/15/2023 1,285
11/15/2024 1,355
11/15/2025 1,430
11/15/2026 1,510
11/15/2027 1,590
11/15/2028 1,675

2033 TERM BOND

11/15/2029 1,760
11/15/2030 780
11/15/2031 825
11/15/2032 870
11/15/2033 1,730

* - APPROXIMATE SUBJECT TO CHANGE

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

Citigroup Global Markets Inc.
Edward D. Jones & Co.
Merrill Lynch & Co.
Morgan Stanley & Co. Incorporated
Stifel, Nicolaus & Company, Inc.
Wachovia Bank, National Association