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.

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.
References in periodicals archive ?
Kayne Anderson MLP Investment Company (NYSE:KYN), a non-diversified, closed-end investment company, has priced a USD75m offering of series HH floating rate senior notes (the senior notes, it stated on Monday.
According to the firm Series HH senior notes mature on August 19, 2016 and pay interest at a rate of 3-month LIBOR plus 1.
Previously, an individual could, at maturity or before, exchange a Series E or EE bond for a Series HH bond (or Series H bond before 1980--but see Editor's Note, Q 1143) without recognizing the unreported interest, except that he must report the interest to the extent he receives cash in the exchange.
Series HH Bonds: Once again, start by taking the bonds to your financial institution, along with your identification.
Another viable option is to convert Series EE or I savings bonds into Series HH savings bonds, which pay interest every six months.
Series HH bonds are current-income securities that do not increase in value.
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.
Savings Bonds are presently available, Series EE and Series HH bonds.
Series PT-4705: New York City Municipal Water Finance Authority, water and sewer system second general resolution revenue bonds, fiscal 2011 series HH (rated 'AA+'; Stable Outlook).
There are two kinds, the Series EE and the Series HH.
The fiscal 2011 series HH bonds are scheduled for negotiated sale the week of June 13.
The interest can be deferred beyond the bond's maturity if exchanged for a Series HH bond.