S.L. 575.2 Art. 13Computation of discount (interest).

(1) Treasury Bills are zero coupon securities and are usually issued at a discount to their nominal (principal) value, with the discount (interest) being deducted from their nominal value. The interest is equal to the face value minus the purchase price.

(2) The computation of discount (interest) shall be in accordance with such methodology as shall be notified to the market by the Accountant General from time to time.