The State of California is embarking on a historical long-term economic plan to finance a variety of public works throughout the State. California voters have approved more than $60 billion of bonds that will help fund better schools and higher-education facilities, transportation projects, parks and environmental projects, to name a few.

We encourage you to learn more about what the State will do with the proceeds and how investors can benefit by investing in California general obligation bonds.

	What new State of California bond issues are available and what will the bond proceeds be used for?1
	How can I learn more about municipal bonds in general?

Before purchasing any municipal bond, you and your Financial Advisor should determine if municipal bonds are right for you in light of your investment objectives, asset allocation strategy and tolerance for risk.

If you have a UBS account and would like to buy California General Obligation Bonds or need additional information, please contact your UBS Financial Advisor.

How can I buy State of California General Obligation Bonds if I don't have a UBS account? Click here to locate the UBS office nearest to you.

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Municipal bond underwriting and trading are conducted by UBS Securities LLC, an affiliate of UBS Financial Services Inc.

UBS Financial Services Inc. does not provide tax, legal or accounting advice. Please contact your tax advisor regarding the suitability of tax-exempt investments in your portfolio and your accounting advisor to determine the appropriate accounting treatment.

Income from municipal bonds may be subject to state and local taxes as well as the Alternative Minimum Tax.

Call features may exist that can impact yield. If sold prior to maturity, investments in municipal securities are subject to gains/losses based on the level of interest rates, market conditions and credit quality of the issuer.

Additional information available upon request.