Members Equity Bank yesterday finalised terms for the pricing of the sale of $600 million in mortgage-backed securities. The Australian Office of Financial Management bought $500 million of the bonds.The bank agreed to a spread of 130 basis points over the one-month bank bill rate on the $572 million senior tranche. The pricing on a second tranche of $14 million of senior debt, and the same amount of subordinated debt, wasn't available last night.The MEB transaction was the second in which the AOFM was the cornerstone investor.