Liberty Financial has completed an issue of residential mortgage-backed securities, raising A$500 million. Liberty Series 2016-2 RMBS is the company's second RMBS issues this year; it raised $300 million in March.Liberty will pay a margin of 145 basis points over the one-month bank bill swap rate on the $225 million of A1a notes, which have a weighted average life of 1.8 years.Pricing on the $130 million of A1b notes, which have a WAL of 3.1 years, was 165 bps over BBSW.Pricing on the $72.5 million of A2 notes, which have a WAL of 3.1 years, was 230 bps over BBSW.The securities are backed by a portfolio of prime and non-prime loans with an average loan-to-valuation ratio of 72.2 per cent.