$146,465,000

Florida State Board of Education, Florida

Full Faith and Credit Public Education Capital

Outlay Refunding Bonds, 2018 Series A

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WE HAVE RECEIVED THE WRITTEN AWARD.

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MOODY'S: Aa1 S&P: AAA FITCH: AAA

DATED:05/10/2018 FIRST COUPON:12/01/2018 DUE: 06/01

MATURITY AMOUNT COUPON PRICE CUSIP

06/01/2019 4,130M 5.00% 1.66 34153QLY0

(Approx. $ Price 103.488)

06/01/2020 4,725M 5.00% 1.77 34153QLZ7

(Approx. $ Price 106.499)

06/01/2021 4,965M 5.00% 1.89 34153QMA1

(Approx. $ Price 109.198)

06/01/2022 5,215M 5.00% 2.01 34153QMB9

(Approx. $ Price 111.595)

06/01/2023 5,475M 5.00% 2.13 34153QMC7

(Approx. $ Price 113.692)

06/01/2024 5,750M 5.00% 2.22 34153QMD5

(Approx. $ Price 115.676)

06/01/2025 6,035M 5.00% 2.32 34153QME3

(Approx. $ Price 117.354)

06/01/2026 6,335M 5.00% 2.40 34153QMF0

(Approx. $ Price 118.945)

06/01/2027 6,655M 5.00% 2.49 34153QMG8

(Approx. $ Price 120.240)

06/01/2028 6,985M 5.00% 2.54 34153QMH6

(Approx. $ Price 121.713)

06/01/2029 7,335M 5.00% 2.59 34153QMJ2

(Approx. $ Price PTC 06/01/2028 121.218 Approx. YTM 2.760)

06/01/2030 7,705M 5.00% 2.64 34153QMK9

(Approx. $ Price PTC 06/01/2028 120.726 Approx. YTM 2.945)

06/01/2031 8,090M 5.00% 2.69 34153QML7

(Approx. $ Price PTC 06/01/2028 120.236 Approx. YTM 3.103)

06/01/2032 8,490M 4.00% 2.94 34153QMM5

(Approx. $ Price PTC 06/01/2028 109.170 Approx. YTM 3.186)

06/01/2033 8,830M 4.00% 3.08 34153QMN3

(Approx. $ Price PTC 06/01/2028 107.904 Approx. YTM 3.328)

06/01/2034 9,185M 4.00% 3.12 34153QMP8

(Approx. $ Price PTC 06/01/2028 107.545 Approx. YTM 3.387)

06/01/2035 9,550M 4.00% 3.16 34153QMQ6

(Approx. $ Price PTC 06/01/2028 107.188 Approx. YTM 3.439)

06/01/2036 9,935M 4.00% 3.20 34153QMR4

(Approx. $ Price PTC 06/01/2028 106.832 Approx. YTM 3.487)

06/01/2037 10,330M 4.00% 3.22 34153QMS2

(Approx. $ Price PTC 06/01/2028 106.654 Approx. YTM 3.518)

06/01/2038 10,745M 4.00% 3.24 34153QMT0

(Approx. $ Price PTC 06/01/2028 106.477 Approx. YTM 3.546)

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CALL FEATURES: Optional call in 06/01/2028 @ 100.00

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Citigroup Global Markets Inc

Ramirez & Co., Inc.

Roosevelt & Cross, Inc.

Siebert Cisneros Shank & Co., L.L.C.

Drexel Hamilton, LLC

Loop Capital Markets

Williams Capital Group L.P.

Oppenheimer & Co.

Stern Brothers & Co.

Tribal Capital Markets LLC

Intercoastal Capital Markets Inc.

Amuni Financial

Wedbush Securities Inc.

Stifel, Nicolaus & Company, Inc.

Rice Financial Products Company

Mischler Financial Group, Inc.

By: Citigroup Global Markets Inc New York, NY