TREASURY CHANGES THE MINIMUM AMOUNT REQUIRED FOR STRIPS
|FOR IMMEDIATE RELEASE||Contact: Office of Financing|
|February 26, 2001|
On November 1, 2000, Treasury announced that it was changing the minimum and multiple par amounts required for stripping fixed-principal notes and bonds into their separate principal and interest components under the Separate Trading of Registered Interest and Principal of Securities ("STRIPS") program.
Effective March 1, 2001, the minimum principal amount required for stripping fixed-principal securities will be set at $1,000, with multiples of $1,000.
This change eliminates the requirement that for a fixed-principal security to be stripped into components, the minimum principal amount (par amount) of the security must be in an amount that, based on its interest rate will produce a semiannual interest payment in a multiple of $1,000.