Municipal Bond New Issues

RE: $83,290,000*
MASSACHUSETTS HEALTH AND EDUCATIONAL AUTHORITY
REVENUE BONDS
TUFTS UNIVERSITY ISSUE, SERIES O (2008)

WE HAVE RECEIVED THE VERBAL AWARD

PLEASE NOTE REPRICING
ALL ORDERS WILL BE CONSIDERED GOOD UNLESS WE HEAR FROM YOU BY 12:00PM NOON EST

[More:]

MOODY’S: Aa2 S&P: AA- FITCH: NR

DATED:11/13/2008 FIRST COUPON:02/15/2009

DUE: 08/15

ADD’L
TAKEDOWN
MATURITY AMOUNT* COUPON PRICE ( Pts )
08/15/2009 2,000M 3.50% SEALED BID
08/15/2010 3,500M 5.00% 2.60 1/4
(Approx. $ Price 104.088)
08/15/2011 3,500M 5.00% 3.00 3/8
(Approx. $ Price 105.247)
08/15/2012 1,065M 5.00% 3.30 1/2
(Approx. $ Price 105.953)
08/15/2013 595M 4.00% 3.51 1/2
(Approx. $ Price 102.124)
08/15/2014 1,815M 5.00% 3.69 1/2
(Approx. $ Price 106.731)
08/15/2015 1,760M 5.00% 3.89 1/2
(Approx. $ Price 106.532)
08/15/2016 1,980M 5.00% 4.09 1/2
(Approx. $ Price 105.989)
08/15/2017 1,935M 5.00% 4.29 1/2
(Approx. $ Price 105.130)
08/15/2018 2,030M 5.00% 4.48 1/2
(Approx. $ Price 104.066)
08/15/2019 1,880M 5.25% 4.66 1/2
(Approx. $ Price PTC 08/15/2018 104.575 )
08/15/2020 1,780M 5.25% 4.82 1/2
(Approx. $ Price PTC 08/15/2018 103.307 )
08/15/2021 1,955M 5.25% 4.91 1/2
(Approx. $ Price PTC 08/15/2018 102.602 )
08/15/2022 2,585M 5.25% 4.97 1/2
(Approx. $ Price PTC 08/15/2018 102.135 )
08/15/2023 6,760M 5.25% 5.03 1/2
(Approx. $ Price PTC 08/15/2018 101.671 )
08/15/2025 935M 5.00% 5.14 1/2
(Approx. $ Price 98.432)

08/15/2038 47,215M 5.375% 5.51 1/2
(Approx. $ Price 98.026)

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CALL FEATURES: Optional call in 08/15/2018 @ 100.00


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Sinking Fund Schedule

2038 Term Bond

08/15/2028 3,485
08/15/2029 1,495
08/15/2030 1,490
08/15/2031 1,545
08/15/2032 3,160
08/15/2033 4,015
08/15/2034 1,890
08/15/2035 1,950
08/15/2036 1,625
08/15/2037 12,945
08/15/2038 13,615





* - APPROXIMATE SUBJECT TO CHANGE

The compliance addendum MSRB Rule G-11 will apply.


The Award is expected on Wednesday, November 5, 2008.

Delivery is firm for Thursday, November 13, 2008.

This Issue is book entry. This issue is clearing through DTC.


J.P. Morgan Securities Inc.

By: J.P. Morgan Securities Inc. New York, NY