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RESEARCH CENTER

Selling Floating Rate Notes (FRNs)

The U.S. Treasury began issuing Floating Rate Notes (FRNs) in January 2014. If you own one, you can hold it until it matures or sell it before it matures.

To sell an FRN held in TreasuryDirect, first transfer the security to a bank or broker, then ask the bank or broker to sell it for you.

To transfer an FRN from TreasuryDirect to a bank or broker

  • Go to "Manage Direct"
  • Choose "Transfer securities"
  • Identify the security or securities you want to transfer
  • Choose "External Transfer"
  • Click the link for the form PD F 5511, "TreasuryDirect Transfer Request"
  • Complete PD F 5511 and mail it to us as directed on the form