If I’ve read correct - very possible I haven’t - that the 9.62 applied to principal for a 6 month period, and the for upcoming 6 month period someone who bought before 11/1 would get the same 6.89% someone buying today would get? I am not sure how the variable component works. Over time, that would track CPI-U. So if inflation gets under control over time, and it may keeping the 1 year, 5 year, and 30 terms for redemption milestones, the fixed rate could be a bigger factor?
I haven’t made a spreadsheet, but the .4% is up from 0% for the fixed portion. That’s all I can think of for the Barron’s article about why the new series might be better.