NZF Mortgages Trust prices 16 June 2010 4:17PM Philip Bayley The first mortgage-backed issue launched in New Zealand since the GFC was priced yesterday. NZF HomeLoans Ltd, via the NZF Mortgages 2010-1 Trust was launched late last month and comprises four tranches: NZ$87.8 million of 'AAA' rated Class A1 notes; NZ$9.1 million of 'AAA' rated Class A2 notes; NZ$2.5 million of 'AA-' rated Class B notes; and NZ$0.6 million of unrated Class C notes.The Class A1 and A2 notes both have a weighted average life of 2.7 years and are priced at 175 basis points and 260 bps over bank bills, respectively. Pricing was not disclosed on the two subordinated tranches, which have weighted average lives of five years.