Bank of Queensland yesterday finalised pricing on $1.6 billion of mortgage-backed securities sold through the Series 2010-2 REDS. The amount is twice that sought when the bank began marketing the issue earlier last week.Fourteen investors bought bonds, Reuters reported. The first tranche, for $960 million in bonds and with an average life of 1.5 years, BOQ sold at a spread of 100 basis points over swap. The Australian Office of Financial Management bought the second tranche, of $498 million and with an average life of 6.2 years at a spread of 110 bps over swap. A third tranche of $106 million and a shorter average life of 5.5 years the bank sold at 160 bps over swap.The bank did not disclose pricing on remaining tranches.