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The 5 per cent nine-year Treasury bonds offered investors a fixed interest rate of 5 per cent per year. This meant that investors who bought these bonds received 5% annual interest on their invested capital for the nine-year term.
In addition, Treasury bonds could also offer additional premiums to investors. The premiums were granted under certain conditions specified in the law issuing the securities.
The bearer securities of the five-year five per cent Treasury Bonds had denominations ranging from ITL 5,000 to ITL 100,000. As bearer bonds, they could be transferred by physical delivery of the security and traded on the secondary market.
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.
