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Summary of U.S. Treasury Securities

Characteristics

Treasury Notes

Treasury Bonds

Treasury Inflation-Protected Securities (TIPS)

I Savings Bonds

EE/E Savings Bonds

Terms (Yr)
2, 3, 5, 7 & 10

30

5, 10 & 20
30
30
Minimum Term of Ownership
None
None
None
1 Year
(Penalty if before 5 Yr.)
1 Year
(Penalty if before 5 Yr.)

Interest

Yield determined at auction
Fixed (Varies)
Yield determined at auction
Fixed (Varies)
+ Semiannual inflation rate
Fixed (Varies)
Interest Paid
Every 6 Mo. to maturity
Every 6 Mo. to maturity
Every 6 Mo. to maturity (at adjusted principal)

Added monthly (Paid when cashed)

Added monthly (Paid when cashed)

Purchased Amount

$100 minimum, Multiples of $100

$100 minimum, Multiples of $100

$100 minimum, Multiples of $100

$25 minimum, Maximum $5,000/yr. (Any amount up to $5,000) *
$25 minimum, Maximum $5,000/yr. (Any amount up to $5,000) *
Price
Less than, greater than or equal to face value
Face value
Face value
Face value *
Face value *
Paid at Maturity
Face value
Face value
Adjusted principal or original principal, whichever is greater
Face value plus interest
Face value plus interest
Tax Considerations
Exempt from state & local income taxes, Subject to federal income tax
Exempt from state & local income taxes, Subject to federal income tax
Exempt from state & local income taxes, Subject to federal income tax
Exempt from state & local income taxes, Subject to state & local estate, inheritance, gift & other excise taxes and federal income tax
Exempt from state & local income taxes, Subject to state & local estate, inheritance, gift & other excise taxes and federal income tax

* Electronic Bonds