yankee stadium rev ins muni TEY 8.5%

NY NY City Indl Dev Agy Rev — Yankee Stadium Project 0.00% 3/1/2022 @ 48.905 0.00% 3/1/2018 @ 65.077 Insured by AGC, w/ an Extraordinary call feature… short of a comet vaporizing the Bronx, what unusual circumstances would trigger the extraordinary call? Is a 7.5 - 8.5% TEY fair compensation for the possibility of an extraordinary event? I am considering a fixed horizon strategy with the 2022…

look at HYD

well, I can look at it… but I really don’t want a junk muni, a muni etf, or an issue that is subject to AMT. This zero is Aa2/AAA insured for what that is worth. I think it is fair to assume that the yankees expect to generate a few bucks here and there… and still it is priced at a 8.5% taxable equivalent yield for 13 years? What am I missing? All I can come up with is the extraordinary call feature.

ah, i didn’t know your AMT requirements. i think ur good to go with this yankees bond, don’t see A-rod and jeter goin anywhere. franchise will still make dinero. city RE mkt has not dies just yet so bronx will still have $ to make payday.