Junior Subordinated Debentures, Series 2006-1

Security:  Assured Guaranty Municipal Holdings Inc. 6.40% $300MM Junior Subordinated Debentures, Series 2006-1 due 2066

CUSIP:   U31745AA7 / 31769PAB6

ISIN: USU31745AA71 / US31769PAB67

Ticker:  N/A

Corporate issuer:  Assured Guaranty Municipal Holdings Inc. (the "Company")

Guaranteed by:  Assured Guaranty Ltd. (on a junior subordinated basis)

Par/denomination:  $1,000

Coupon or dividend rate:  $64 per $1,000

            6.40% per annum (until 12/15/2036; floating interest rate of 1-month
            CME Term SOFR plus 0.11448% spread adjustment plus 2.215% after)

Coupon or dividend record date: close of business on the business day preceding interest payment date (June 14 and Dec 14 for 2011)

Coupon or dividend payment date:  June 15 and Dec 15

Issue date: 11/22/2006

Maturity: 12/15/2036 (scheduled; final repayment date of 12/15/2066)

Optional redemption: The Debentures shall be redeemable (a) in whole or in part at the option of the Company at any time prior to December 15, 2036 at a Redemption Price equal to the greater of (i) 100% of the principal amount of the Debentures then Outstanding plus accrued and unpaid interest to the Redemption Date or (ii) the applicable Make-Whole Redemption Price, provided that in the event of a redemption in part that the principal amount Outstanding after such redemption is at least $50,000,000  and (b) in whole but not in part, prior to December 15, 2036, within 90 days following the occurrence of a Tax Event or Rating Agency Event at a Redemption Price equal to the greater of (i) 100% of the principal amount of the Debentures then Outstanding plus accrued and unpaid interest to the Redemption Date or (ii) the applicable Make-Whole Redemption Price

Offering memorandum (pdf)

Please note information in the prospectus or prospectus supplement is current only as of the date of the document; for more current information, please see Financial Information for Assured Guaranty Ltd. and AGM or AG, as applicable, and Assured Guaranty’s filings with the Securities and Exchange Commission.