Now back to those bonds… Here's a fuller description:
Settlement Management Series 1, LLC (“SETI”), a Delaware limited liability company, owns $5,000,000 (U.S.), Five-Year, 5% U.S. Treasury Strips, debt free, which constitutes 100% of its net value to assets, (its “Assets”), and holds title to the assignment of $20,000,000 of 5.5% Medium Term Notes with an aggregate value of $200,000,000 (U.S.) with a ten (10) year option on an additional $170,000,000 5.5% Medium Term Notes credit-linked to strips of U.S. Treasury “AAA” rated bonds; which it plans to place through its Placement Memorandum (the “Notes”). The Notes will be offered and sold by the SETI only to persons who are “Accredited Investors” as defined in Rule 144 A, Regulation D, Rule 506 and Regulation S.