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Nine-year Treasury Bonds at 5% were fixed-rate bonds issued for a period of nine years, with an interest rate of 5%. Investors who bought these bonds received an annual interest of 5% on the invested capital.
In addition, Treasury bonds could also offer premiums, which represented additional value for investors. Premiums could be awarded according to certain conditions or criteria specified in the law issuing the securities.
Nine-year Treasury Bills at 5 per cent premiums were issued as bearer bonds, meaning that they could be transferred by physical delivery of the security and traded on the secondary market. The denominations of the Treasury Bonds ranged from LIT 5,000 to LIT 1,000,000.
At the end of the nine-year period, investors were entitled to receive repayment of the invested capital together with accrued interest. Redemption could be requested at the relevant offices or through authorised financial intermediaries.
