What is Issue Date of Original US Treasury FRN?

Issue Date of Original US Treasury FRN is the date when an original FRN is issued by The US Department of the Treasury.

Issue date of original FRN is also the settlement date of the purchase transaction.

Original FRN is issued on the last day of January, April, July, and October. But if the last day is a weekend or US holiday, issue date is moved to the first business day of the following month.

Here is the lifecycle of an original US Treasury FRN, including issue date:

1. Announcement - Original FRN auction is generally announced in the second half of January, April, July, or October.

2. Auction - Original FRN is generally auctioned during the last week of the month after the announcement.

3. Issuing - Original FRN is issued on the last day of the month after the auction. But if the last day is a weekend or US holiday, issue date is moved to the first business day of the following month.

4. Settlement - Original FRN is settled on the same date when it is issued.

5. Maturity - Original FRN is matured 2 years after the issue date.

Here is an example of original FRN that was issued on Oct 31, 2024 (Thu):

CUSIP: 91282CLT6

Oct 24, 2024 (Thu) - Announcement date 
Oct 29, 2024 (Wed) - Auction date 
Oct 31, 2024 (Thu) - Issue date 
Oct 31, 2024 (Thu) - Settlement date 
Oct 31, 2026 (Thu) - Maturity date 

Here is another example of original FRN that was issued on Feb 1, 2021 (Mon):

CUSIP: 91282CBK6

Jan 21, 2021 (Thu) - Announcement date 
Jan 27, 2021 (Wed) - Auction date 
Feb  1, 2021 (Mon) - Issue date 
Feb  1, 2021 (Mon) - Settlement date 
Feb  1, 2023 (Wed) - Maturity date 

⇒ Reopening Auction of US Treasury FRN

⇐ Auction Date of Original US Treasury FRN

⇑ US Treasury FRN

⇑⇑ US Treasury Securities