1969 one hundred thousand dollar Treasury Bill
Issued at a 7.34% Approximate Yield, Six-month Maturity
$1.2 Billon Issued
Treasury Bills, also known as T-Bills, are short-term debt securities. Treasury Bills are a form of a zero-coupon bond. Treasury Notes and Treasury Bonds, T-Bills do not have interest payments. Instead, the debt is sold at a discounted value relative to their redemption or par value. This discount reflects the interest rate that the Bill carries. An auction process determines the interest rate (discount) the bills will be sold at. They are shortest duration security auctioned by the Treasury Department, and are typically sold in 4, 13, 26, and 52-week issues.
This example is one of two known of this denomination
1970 one thousand dollar Treasury Bill
Issued at a 7.76% Approximate Yield, Six-month Maturity