Bond National Agricultural Credit Banks 0% ( US3133ENY618 ) in USD

Issuer National Agricultural Credit Banks
Market price 100 %  ⇌ 
Country  United States
ISIN code  US3133ENY618 ( in USD )
Interest rate 0%
Maturity 07/11/2024 - Bond has expired



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Minimal amount 1 000 USD
Total amount 415 000 000 USD
Cusip 3133ENY61
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.

An in-depth review of the recently matured bond identified by ISIN US3133ENY618 and CUSIP 3133ENY61 provides insight into a fixed-income instrument issued by the Federal Farm Credit Banks, a key entity within the United States' financial landscape. The Federal Farm Credit Banks constitute a critical part of the Farm Credit System, a nationwide network of borrower-owned financial institutions established by the U.S. Congress in 1916. This system is primarily responsible for providing credit and related services to farmers, ranchers, producers and harvesters of aquatic products, agricultural cooperatives, and rural utility systems across the United States. As a government-sponsored enterprise (GSE), the Federal Farm Credit Banks benefit from an implicit backing by the U.S. government, contributing significantly to its highly favorable credit profile. This particular bond, denominated in USD and issued from the United States, concluded its lifecycle on its maturity date of November 7, 2024. While a payment frequency of two was noted, the bond featured a 0% interest rate, indicating it was likely a discount or zero-coupon instrument that did not generate periodic coupon payments but was redeemed at par. Indeed, the bond has reached full maturity and has been successfully redeemed, with its market price having converged to 100% at the time of its final principal repayment. The total size of this issuance was a substantial $415,000,000, with a minimum purchase amount set at $1,000, making it accessible to a diverse investor base. Furthermore, the bond's exceptional credit quality was consistently affirmed by leading rating agencies, securing an AA+ rating from Standard & Poor's and an Aaa rating from Moody's, both denoting the highest possible creditworthiness and minimal default risk, reflecting the stability and strength of the issuer.