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BRIEFLY

Cal Fed's $50-million offering was completed.

December 18, 1985

Paine Webber, as sole manager, reported that its offering of California Federal Savings & Loan Assn. floating-rate, mortgage-backed notes has been completed. The offering represents the first issue of Treasury bill-indexed collared notes issued by a thrift institution. The notes, maturing Dec. 15, 1988, were offered at 99.75%.

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