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Newly issued Treasuries can be purchased at auctions held by the government, while previously issued bonds can be purchased on the secondary market. Both types of orders can be placed through Fidelity.* Investors in Treasury notes (which have shorter-term maturities, from 1 to 10 years) and Treasury bonds (which have maturities of up to 30 years) receive interest payments, known as coupons, on their investment. The coupon rate is fixed at the time of issuance and is paid every six months.TreasuryMinimum denominationSold atMaturityInterest payments US Treasury bills
$1,000
Discount
4-, 8- , 13-, 17-, 26-, and 52-week
Interest and principal paid at maturity
US Treasury notes
$1,000
Coupon
2-, 3-, 5-, 7-, and 10-year
Interest paid semi-annually, principal at maturity
US Treasury bonds
$1,000
Coupon
20-year
30-year
Interest paid semi-annually, principal at maturity
Treasury inflation-protected securities (TIPS)
$1,000
Coupon
5-, 10-, and 30-year
Interest paid semi-annually, principal redeemed at the greater of their inflation-adjusted principal amount or the original principal amount
US Treasury floating rate notes (FRNs)
$1,000
Coupon
2 years
Interest paid quarterly based on discount rates for 13-week treasury bills, principal at maturity
Treasury STRIPS
$1,000
Discount
6 months to 30 years
Interest and principal paid at maturity
Structure: Coupon or no coupon/discount
Other Treasury securities, such as Treasury bills (which have maturities of one year or less) or zero-coupon bonds, do not pay a regular coupon. Instead, they are sold at a discount to their face (or par) value; investors receive the full face value at maturity. These securities are known as Original Issue Discount (OID) bonds, since the difference between the discounted price at issuance and the face value at maturity represents the total interest paid in one lump sum.
- What We Offer
- Build Your Free Plan
- My Goals
- Financial Basics
- Building Savings
- Robo Investing Plus Advice
- Wealth Management
- Find an advisor
- Retirement
- Life Events
- Saving & Investing for a Child
- Charitable Giving
- Philanthropic Consulting
- Life Insurance & Long Term Care Planning
- News
- Wealth Management Insights
- Watch List Log In Required
- Quotes
- Quotes
- Alerts Log In Required
- Mutual Funds
- Stocks
- Fixed Income, Bonds & CDs
- ETFs
- Options
- Markets & Sectors
- IPOs
- Annuities
- Learning Center
- Notebook
- Notebook
- Mutual Funds
- Retirement & IRAs
- Stocks and Trading
- Crypto
- Direct Indexing
- Fixed Income, Bonds & CDs
- ETFs
- Options
- Sustainable Investing
- Spending & Saving
- Managed Accounts
- 529 College Savings
- Health Savings Accounts
- Annuities
- Life Insurance
- The Fidelity Advantage
- Planning & Advice
- Trading
- Straightforward Pricing
- Insights & Tools
- Security & Protection
- Marketplace Solutions
- About Fidelity
- Careers
- Customer Service
- Profile
- Open an Account
- Virtual Assistant
- Log In
- Customer Service
- Profile
- Open an Account
- Virtual Assistant
- Log Out