The favourable conditions that prevailed in the securitisation market last year look like they will continue, with the first mortgage-backed securities deal of the year being notable for a big upsizing and for tight pricing.Macquarie Bank priced Puma Series 2014-1 yesterday, increasing the size of the deal from A$500 million, at its launch earlier this week, to $1.4 billion.The $1.3 billion A tranche, which has a weighted average life of 2.7 years, was priced at 90 basis points over the bank bill swap rate. Pricing on the B1 and B2 tranches was not disclosed (both tranches were retained by Macquarie).Macquarie's last Puma deal was in September, when it priced the $1.2 billion A tranche of Puma Series 2013-1 at 100 bps over the swap rate.While the pricing of the latest deal has come in 10 basis points, the weighted average life of the A tranche in the 2013 deal was longer, at 3.5 years.Macquarie said in a media release that 31 investors participated in the issue, with about half of the A notes being placed offshore.