Discount notes are U.S. dollar denominated unsecured general corporate obligations that are issued at a discount and mature at par.
- Maturities may range from overnight through one year, subject to daily corporate funding needs
- May be acquired in denominations as small as $1,000
- Are issued and maintained in book entry form through the Federal Reserve Bank of New York
- Are offered with a variety of options for settlement dates, maturity dates and sizes
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