With short-term interest rates low, Rhode Island decided not to offer tax anticipation notes directly to residents and small businesses at bank branches as it did last year. The state plans to market $350 million of Tans next week through a traditional retail and institutional sale.

In an identically sized deal last October, the state sold $25 million of its Tans directly to individual buyers at branches of Bank of America NA in $1,000 denominations. That deal priced to yield 2.2% with a 3.5% coupon on notes that matured in June.

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