A light crimson blush appears on them just before maturity.
When very young they are covered in small white spines that typically fall off before maturity.
Girls were once betrothed in childhood and married before maturity.
But investors who plan to buy and hold may find that they need the money before maturity.
For example, if the current price is 103, the bond is not likely to be called until three years before maturity.
But if you sell a bill before maturity, there is the potential for either gain or loss.
Observations for the last six days before maturity were dropped, as was the period around the October 1987 stock market crash.
To retire 75 percent of the issue before maturity, a sinking fund will start in 1992.
"And if people need to sell before maturity, they may lose some principal."
In this way bank bills may be re-discounted a number of times before maturity.