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Premium Bonds is a lottery bond scheme organised by the United Kingdom government since 1956. At present it is managed by the government's National Savings and Investments agency. The principle behind Premium Bonds is that rather than the stake being gambled, as in a usual lottery , it is the interest on the bonds that is distributed by a lottery.
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Lottery bonds are usually issued in a period where investor zeal is low and the government may see an issue failing to sell. By knowing ahead of time when the coupons will be paid and how many bonds will be redeemed at the original value and at the lottery value, the issuer can value the bond accurately and know ahead of time the cost of the borrowing.
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A municipal bond, commonly known as a muni, is a bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal bonds is often, but not always, exempt from federal and state income taxation.
Bonds that go above their issue price are called premium bonds, while those that fall below it are called discount bonds. Bond prices can fluctuate for a number of reasons, including:
Bonds can help to balance out risk in a portfolio while also generating income in the form of interest from regular coupon payments. When a bond is issued it’s assigned a fixed par value and a ...
A friend who is a UK citizen resident in the USA tried to buy UK Premium Bonds but was told by NS&I, "The US Postal Service Law Department has told us it is an offence against their Lottery laws to use the mail service for Premium Bond correspondence. This includes Premium Bond prizes.
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