Suncorp completed its first issue of residential mortgage-backed securities in 18 months when it priced A$1.25 billion of notes yesterday.Suncorp will pay 135 basis points over the one-month bank bill swap rate for the $912.5 million A1 tranche of Apollo Series 2011-1. The tranche has a weighted average life of 2.72 years.In a sign that the RMBS market may be stabilising, after several months of steadily widening margins, Suncorp's pricing on the A1 tranche was the same as pricing on the top tranche of ING Direct's RMBS issue earlier this month. The $597.5 million A1 tranche of ING Direct's IDOL Series 2011-2 also had a weighted average life of 2.7 years.Suncorp will pay 150 basis points over swap for the $250 million A2 tranche, which has a weighted average life of 5.9 years. It will pay 250 basis points over swap for the $65 million AB tranche, with a weighted average life of 5.9 years.Issuers rarely disclose the pricing of their B notes, but on this occasion Suncorp gave an insight into what issuers are paying to place the subordinated tranches of their RMBS issues.Suncorp will pay 425 basis points over swap for the $22.5 million B tranche.The deal was upsized from $750 million offered at the launch earlier this week. The Australian Office of Financial Management invested $250 million in the A2 tranche and $63 million in the AB tranche.