FXTN

FXTN (Fixed-Rate Treasury Note) — the Bureau of the Treasury’s standard peso bond, issued at auction in tenors from 3 to 25 years, paying semi-annual coupons. Same sovereign credit as RTBs, but sold primarily to institutions — retail access is via a GSED broker or the secondary market rather than a public offering. In ladder-building, FXTNs fill the maturity years that RTB offering timing doesn’t cover. Coupons carry the standard 20% final withholding tax.

First used in: 2.3 · Bonds and the peso ladder