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Finance Dictionary and Glossary of Investment Terms
Series HH bond
See: Savings bond
A Savings Bond purchased only by trading in Series EE bonds at maturity. Series HH bonds are sold in amounts from $500 to $10,000. They may be redeemed after only six months, and their interest is exempt from state and local taxes. The interest rate at the time of purchase is locked in for the first 10 years that the bond is held. After ten years, HH bonds enter extended maturity and the new interest rate is determined by the rate assigned to new bonds issued at that time.
A non-marketable, interest-bearing U.S. government savings bond issued at par and acquired only by exchanging Series EE bonds.