Bidding is in terms of yield. Competitive and noncompetitive bids are awarded at the highest yield of tenders accepted in the auction. The single-price auction technique became effective for sales of all Treasury marketable securities beginning on November 2, 1998.
Interest is paid semiannually.
We sell noncallable 30-year bonds. We may issue an additional amount of a bond in a reopening. Until February 1985, we issued fixed-principal bonds that are callable five years prior to maturity. After providing four months' notice, we can call any callable bond on its first call date or on any semiannual interest payment date thereafter. We usually announce an offering approximately one week before the auction.