MUNICIPAL BONDS
Prudential American Securities maintains its own municipal bond pricing system based on the Blue List which is published by Standard and Poors, a nationally distributed daily publication subscribed to by majority of the principal investment bond dealers in the United States which lists muni bonds offered for sale on that date.
Securities and Exchange Commission Rules, National Association of Securities Dealer Rules and the Municipal Rule Making Board Regulations require broker/dealers to disclose on the confirmations to customers when buying or selling muni bonds through a registered broker/dealer to indicate on the confirmation if the bonds are subject to Call Date and Call Price or Pre-Refunding Date and Pre-Refunding Price since such call provisions will materially and substantially affect the price and yield of a muni bond.
Prudential-American Securities, Inc. Financial Information Center is the only Estate Valuation Pricing Service that when pricing municipal bonds where the call factor will affect the price of the bond will indicate within or under the description of the municipal bond if the security has a call date and call price or has a pre-refunded date and a pre-refunded price provision and an indication that the security has been priced according to the call provisions.