Bond National Agricultural Credit Banks 0% ( US3133ENCX67 ) in USD

Issuer National Agricultural Credit Banks
Market price 100 %  ▲ 
Country  United States
ISIN code  US3133ENCX67 ( in USD )
Interest rate 0%
Maturity 02/11/2022 - Bond has expired



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Minimal amount 1 000 USD
Total amount 275 000 000 USD
Cusip 3133ENCX6
Standard & Poor's ( S&P ) rating N/A
Moody's rating Aaa ( Prime - Investment-grade )
Detailed description The Federal Farm Credit Banks are a government-sponsored enterprise system providing credit and other financial services to farmers, ranchers, and agricultural cooperatives.

This financial article details a specific fixed-income instrument, identified as ISIN US3133ENCX67 (CUSIP: 3133ENCX6), a bond issued by the Federal Farm Credit Banks (FFCB), which recently completed its lifecycle through full redemption. The Federal Farm Credit Banks comprises a nationwide network of borrower-owned financial institutions dedicated to providing credit to farmers, ranchers, aquatic producers, rural homeowners, and agricultural cooperatives across the United States. As a government-sponsored enterprise (GSE), FFCB plays a crucial role in ensuring a stable and reliable source of funding for the U.S. agricultural and rural economy, underpinning the high credit quality of its debt instruments. This particular bond, issued in the United States and denominated in USD, represented a total issuance size of $275,000,000, with a minimum purchase threshold set at $1,000. Notably, it featured a 0% interest rate, indicating it functioned as a zero-coupon bond, designed for investors to purchase at a discount and receive the full face value upon maturity. Despite a listed payment frequency of 2, this would pertain to the final principal repayment rather than periodic coupon distributions for a zero-coupon structure. The bond matured on November 2, 2022, and was successfully redeemed, having been quoted at 100% of its par value on the market prior to its redemption. This instrument boasted the highest possible credit rating, a Aaa from Moody's, reflecting its exceptional creditworthiness and minimal default risk, attributable to the robust financial backing and systemic importance of the Federal Farm Credit Banks within the U.S. financial landscape.