Series 66: 2.4.15.1. Treasury Bills

Taken from our Series 66 Online Guide

2.4.15.1. Treasury Bills

A Treasury bill (T-bill) is a Treasury security that matures in one year or less. Maturity is the date when a debt security terminates and the investor is repaid. T-bills are sold in denominations of $100 up to $5 million; common maturities are 1 month (4 weeks), 3 months (13 weeks), 6 months (26 weeks), and a year.

As opposed to debt securities that pay investors periodic interest in the form of a coupon payment, Treasury bills are issued at a discount to par. This means Treasury bills do not pay out interest in coupon payments; instead, Treasury bills are sold at a discount

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