UnitedServices Automobile Association is set to achieve its upsizedtarget of $250 million for its Residential Reinsurance 2016 Ltd. series 2016-1catastrophe bond,Artemis reported April 28.

All three tranches are expected to price at the lowest endof already reducedguidance.

The class 10 tranche of notes, the riskiest, is expected toreach $65 million. Launched with price guidance of 11.75% to 12.75%, thetranche is now expected to price at 11.50%. With an expected loss of 7.8%, thetranche offers investors a multiple of 1.51.

The class 11 tranche of notes, the mid-risk of the three, isexpected to reach $75 million and to price at 4.75%. The tranche offersinvestors a multiple of 2.23x an expected loss of 2.13%.

The lowest-risk tranche of notes, class 13, is expected toreach $110 million and price at 3.25%. With an expected loss of 0.62%, thetranche offers a 5.24x multiple.