Bond National Agricultural Credit Banks 1.67% ( US3133ENQX12 ) in USD

Issuer National Agricultural Credit Banks
Market price 100 %  ▲ 
Country  United States
ISIN code  US3133ENQX12 ( in USD )
Interest rate 1.67% per year ( payment 2 times a year)
Maturity 08/03/2024 - Bond has expired



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Minimal amount 1 000 USD
Total amount 250 000 000 USD
Cusip 3133ENQX1
Standard & Poor's ( S&P ) rating AA+ ( High grade - Investment-grade )
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.

The Federal Farm Credit Banks (FFCB), a crucial government-sponsored enterprise (GSE) within the United States financial system, recently saw the successful maturity and repayment of one of its significant bond issues. This particular obligation, identified by the ISIN US3133ENQX12 and CUSIP 3133ENQX1, reached its scheduled maturity date on August 3, 2024, at which point it was fully redeemed at its par value of 100%. As a cornerstone of the Farm Credit System, the FFCB's core mission is to provide stable and reliable financing to farmers, ranchers, agricultural cooperatives, and rural utilities across the nation, thereby playing an integral role in supporting the U.S. agricultural sector and rural economic development, funded primarily through the issuance of debt securities like the one recently concluded. Denominated in United States Dollars (USD), this bond carried a fixed interest rate of 1.67%, with interest payments structured on a semi-annual frequency. The total size of the original issuance amounted to $250,000,000, with a minimum purchase size set at $1,000, designed to accommodate a diverse range of investors. The credit quality of this bond was exceptionally robust, as evidenced by its 'AA+' rating from Standard & Poor's (S&P) and an even higher 'Aaa' rating from Moody's, reflecting the issuer's very low credit risk profile, largely attributable to its GSE status and the implied backing of the U.S. government. The successful repayment on its August 3, 2024, maturity date underscores the reliability and safety historically associated with debt instruments from the Federal Farm Credit Banks, providing a clear example of an investment reaching its expected lifecycle and delivering on its principal return.