Tax-Exempt Municipal Bonds

Muriel Siebert & Co., Inc., often participates in new-issue municipal fixed-income securities that may be purchased at the original public offering price. If you are interested in learning more about Tax-Exempt New Issues or have a particular interest in fixed income investments, please contact Chris Myer, Senior Vice President - Fixed Income Investments, at 800-872-6864.

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or call 800-872-0711.
Already a Siebert Client?

or call Chris Myer, Senior Vice President, Fixed Income Investments, at 800-872-6864.

This material is neither an offer to sell nor solicitation of an offer to buy any financial instrument. The material is not intended to be a final expression of terms or any transaction. Offerings are subject to change and availability without notice. Information set forth herein has been furnished by sources which are believed to be reliable, but is not guaranteed as to accuracy or completeness and Muriel Siebert & Co., Inc., makes no warranties about the results obtained from its use. Closed-end fixed income funds are subject to credit, interest rate, and inflation risks. Investors should seek the advice of their financial or tax advisor, as applicable, prior to making any investment. Muriel Siebert & Co., Inc., does not provide tax or legal advice.

The closed-end fund shares discussed herein may not be sold, nor may offers to buy be accepted, prior to the time an Official Statement is delivered in final form. Nor shall there be any sale of the closed-end fund shares, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Fixed income securities also carry inflation risk, liquidity risk, call risk and credit and default risks for both issuers and counterparties. Municipal bonds may be subject to state or local income taxes. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible. Diversification does not ensure or guarantee investment returns and does not eliminate risk. Diversification does not protect against losses in declining markets.

Muriel Siebert & Co., Inc., clears your trades on a fully disclosed basis through National Financial Services LLC (“NFS”), a Fidelity Investments® company. NFS holds in custody the securities and cash in your Siebert account. Member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at In addition to SIPC protection, NFS provides for brokerage accounts additional "excess of SIPC" coverage from Lloyd's of London together with Axis Specialty Europe Ltd. and Munich Reinsurance Co. The "excess of SIPC" coverage would only be used when SIPC coverage is exhausted. Like SIPC protection, "excess of SIPC" protection does not cover investment losses in customer accounts due to market fluctuation. It also does not cover other claims for losses incurred while broker-dealers remain in business. Total aggregate "excess of SIPC" coverage available through NFS's "excess of SIPC" policy is $1 billion. Within NFS's "excess of SIPC" coverage, there is no per account dollar limit on coverage of securities, but there is a per account limit of $1.9 million on coverage of cash (which must be in the account) awaiting reinvestment, and not just to earn interest, which brings the total of cash coverage through SIPC and “excess of SIPC” through Lloyd's to $2.15 million for each account. This is the maximum "excess of SIPC" protection currently available in the brokerage industry. Lloyd's of London currently has an A (Excellent) rating from ratings firm A.M. Best, an AA- (Very Strong) from Fitch Ratings and an A+ (Strong) Standard & Poor's. Ratings listed herein as of July 21, 2015, and subject to change. For ratings explanations, please go to