Series HH savings bond

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Series HH Savings Bond

In the United States, a formerly-issued savings bond, exempt from state and local taxes, with an interest rate fixed for 10 years. These bonds paid par upon maturity, which was 20 years after issue. They were non-transferable and must either have been held or redeemed. Very often, the interest rate dropped to 1.5% after 10 years, which rarely kept pace with inflation. Series HH bonds were discontinued in 2004. See also: Series H bond.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Series HH savings bond

A U.S. Treasury obligation issued in multiples of $500 that pays interest every six months. The security has a maturity of ten years but may be redeemed after being held six months. This security has not been as popular as the Series EE bond. Now it may be obtained only by swapping the Series EE at its maturity.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Series H bonds were issued from June 1952 through December of 1979, whereas Series HH bonds were issued from January 1980 to August of 2004.
Unreported interest earned on E and EE bonds up to the date of death and unreported interest that was part of the consideration for H and HH bonds held at death are income in respect of a decedent.
Bond holders will no longer be able to reinvest HH/H bonds or exchange EE/E bonds for HH bonds. Neither can EE/E bonds be exchanged for I bonds or vice versa.
In the past EE bond owners could defer reporting their interest income beyond the normal maturity date by exchanging their EE bonds for HH bonds. Under this option the EE bond interest was not reported until the HH bonds were redeemed or matured.
Series HH Bonds: Once again, start by taking the bonds to your financial institution, along with your identification.
After conversion, they will receive semi-annual interest payments from the Series HH bonds, which must be included on their returns.
The HH bond series allowed investors to roll maturing proceeds from other bonds series into HH bonds and then earn taxable interest every six months on the HH Bonds.
Series HH bonds are current-income securities that do not increase in value.
Before the Series EE Bonds mature, they may be converted into Series HH Bonds. HH Bonds pay interest on a semiannual basis.
Treasury's savings bond offerings today consist of series EE bonds, the interest earnings on which accrue until the bond matures or is redeemed, and series HH bonds, which are obtained in exchange for series E or series EE bonds and pay interest twice per year, via ACH, to the owner's designated depository institution.6 The savings bond program is a stable and sizable source of debt financing for the government.
When Series HH bonds are issued, the rate is fixed and can be reset every 10 years.
Savings Bonds are presently available, Series EE and Series HH bonds.