Tesouro Direto is an alternative investment in which the investor knows, at the time of application, how his/her money will yield in the future. Besides being a simple product to invest and make possible the choice for a wide range of Treasury Securities, it is extremely secure and allows initial applications starting from BRL 30. By investing in Tesouro Direto, the interested person purchases treasury Securities with the safety of the National Treasury. Each Treasury Security has its own maturity date, but it is possible to sell it beforehand.
Understanding the remuneration of bonds
There are two types of Treasury Securities, according to the profitability offered: fixed rate securities and floating rate securities.
Understanding the difference:
Fixed Rate Securities
Fixed rate securities have their yields determined at the time of the purchase. In other words, the investor knows exactly the value he/she will receive if he/she holds the security until maturity date.
Floating rate securities have their value adjusted by an index. Thus, the profitability of the application depends on the performance of this index (inflation or interest, for example), and the contracted rate at the time of the purchase.
|Fixed Rate Treasury 20XX (LTN)
|Fixed rate, discount rate set at the moment of the purchase..
|Fixed Rate Treasury with biannual Interest coupons 20XX (NTN-F)
|Fixed rate, discount rate set at the time of purchase and payment of biannual interest coupons.
|Selic Treasury 20XX (LFT)
|Floating rate, linked to the variation of Selic interest rate.
|Treasury IPCA (Consumer Price Index) + Biannual Interests 20XX (NTN-B)
|Floating rate, linked to the variation of the IPCA inflation, plus the interest rate set at the time of purchase and payment of biannual interest coupons.
|IPCA Treasury + 20XX (NTN-B Principal)
|Floating rate, linked to the variation of the IPCA inflation, plus the interest rate set at the time of purchase, without periodical payment of interest coupons.
* XX indicates the year of maturity of each bond.
In addition to the securities mentioned, there is also the National Treasury Note Series C (NTN-C), with floating rates, linked to the variation of IGP-M inflation. However, it is not authorized for purchase, only for early redemption of those who already have them as investment.