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Fixed Rate Treasury Notes
Product Definition
Retail Treasury Bonds (RTBs) are direct and unconditional obligations of the national government which primarily caters to the retail market or the end-users. They are issued by the Bureau of Treasury (BTr). They are interest bearing and carry a term of more than one year and can be traded in the secondary market before maturity.

Retail Treasury Bonds are safe, liquid and offer attractive returns to investors.

Features:

Issuer : National government
Term : 3 and 5 years
Tax feature : Interest income subject to 20% final withholding tax
Type of income : Tax paid income
Rate : Fixed for the life of the RTBs
Coupon payment period : Payable quarterly in arrears
Interest computation : Simple interest/add-on
Manner of purchase : Auction or through secondary market


Retail Treasury Bonds are issued and sold at a price equal to be face value and are redeemed at maturity for the full face value of the instrument plus interest/coupon of the last period.