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FEDERAL RESERVE BANK
OF N EW YORK
Fiscal Agent of the United States
r Circular No. 5 9 6 2 ~
l
L March 22, 1967 J

UNITED STATES SAYINGS BONDS, SERIES E
Third Amendment to Treasury Department Circular No. 653

To Issuing and Paying Agents for Series E Savings Bonds
in the Second Federal Reserve D istrict:

Enclosed is a copy of the Third Amendment, dated February 23, 1967, to
Treasury Department Circular No. 653, Seventh Revision, dated March 18, 1966,
entitled “ Offering of United States Savings Bonds, Series E .” The amendment
grants to owners of Series E bonds with issue dates of June 1,1959, or thereafter,
the option of holding the bonds for an extended maturity period of ten years at
an annual investment yield of approximately 4.15 per cent, compounded semi­
annually, except that the Secretary of the Treasury may prescribe a different
yield for such bonds with issue dates of December 1, 1959, or thereafter, at any
time prior to the publication of tables of redemption values and investment
yields for the extended maturity period for those bonds.

Tables showing

redemption values and investment yields for Series E bonds with issue dates
from June 1 through November 1, 1959, are incorporated in the amendment.
Additional copies of the amendment will he furnished upon request.




A

lfred

H

ayes,

President.

OFFERING OF UNITED STATES SAYINGS BONDS, SERIES E
1967
Third Amendment to
Department Circular No. 653
Seventh Revision, dated
March 18, 1966

TREASURY DEPARTMENT,
Washington, February 23, 1961

Fiscal Service
Bureau of the Public Debt

S ection 316.8 o f D epartm ent C ircu lar No. 653,
Seventh R evision, dated M arch 18,1966, as amended
(31 C F R P a rt 3 16), is hereby furth er amended and
revised, as fo llo w s :
Sec. 316.8. E x ten d ed term s and im p roved yield s
f o r outstanding bonds.— (a ) O ptional exten sion
p rivileges. * * *
(4 ) B on ds w ith issue dates June 1, 1959, or th ere­
a fte r.— O wners o f Series E bonds w ith issue dates
o f June 1, 1959, or thereafter, have the option o f
retaining their bonds fo r an extended m aturity
period o f 1 0 years .1
(b ) Im p ro v ed yield s . 2 * * *
(5 ) B onds w jih issue dates June 1 .19 59 , th rou gh
N ovem b er 1 , 1959.— T h e investment yield on all out­
standing Series E bonds with issue dates o f June 1 ,
1959, through N ovem ber 1, 1959, fo r the rem aining
period to the m a turity d ate, was increased b y 410
/
o f 1 percent p er annum i f held to origin al m aturity
and by lesser amounts i f redeemed earlier. The
investm ent yield fo r the exten ded m aturity p eriod
w ill be approxim ately 4.15 percent per annum com ­
pounded sem iannually fo r each h alf-yea r period.
1]See footnote 8, Department Circular No. 653, Seventh Revision
(31 CFR Part 316).
2 See footnote 2, Department Circular No. 653, Seventh Revision
(31 CFR Part 316).




See table 50 fo r redem ption values and investment
yields.
(6 )
B on ds w ith issue dates D ecem b er 1 , 1959, or,
th erea fter.— T he investment y ield on all outstand­
ing Series E bonds with issue dates o f D ecem ber 1,
1959, through N ovem ber 1, 1965, fo r the rem aining
p eriod to the m a turity date, was increased b y 4
/10
o f 1 percent per annum i f held to origin al m aturity
and b y lesser amounts i f redeemed earlier. T h e in ­
vestment y ield fo r the exten d ed m aturity p erio d fo r
bonds bearing issue dates o f D ecem ber 1 , 1959, or
thereafter, w ill be approxim ately 4.15 percent per
annum com pounded sem iannually f o r each h a lfyear p e r io d : P r o v id ed , h ow ever, T h a t the Secretary
o f the Treasury m ay at any tim e p rio r to their
m aturity prescribe a different yield fo r such bonds
fo r w hich n o tables o f redem ption values and in ­
vestment yields fo r the extended m aturity period
have been p reviou sly published. Tables o f redem p­
tion values and investm ent yields, w h ich are a part
o f this circular, w ill be published p erio d ica lly fo r
the extended m aturity period fo r bonds bearing
issue dates o f Decem ber 1 , 1959, or thereafter.
JOH N K. CARLOCK,
F iscal A ssistan t S ecreta ry.

TABLE 50
BONDS BEARING ISSUE DATES FROM JUNE 1 THROUGH NOVEMBER 1, 1959
Issue price_______ ___________________
Original maturity value________

Period after issue date

First Yi year
to 1 vear
1 to
years
1H to 2 years
2 to 2l 2 years
/
2y2 to 3 years
3 to 3]4 years
3}i to 4 years
4 to 4Yi years
4}£ to 5 years
5 to 5}i years
5% to 6 years _
6 to 6}i years .
6Y to 7 years
2

_

$ 1 8 .7 5
2 5 .0 0

$ 3 7 .5 0
5 0 .0 0

$ 7 5 .0 0
1 0 0 .0 0

$ 1 5 0 .0 0
2 0 0 .0 0

$ 3 7 5 .0 0
5 0 0 .0 0

$ 7 5 0 .0 0
1 ,0 0 0 .0 0

$7, 500
10, 000

(1) Redemption values during each half-year period 1 (values increase on first day of
period shown)

$18.
18.
19.
19.
19.
20.
20.
21.
21.
21.
22.
22.
23.
23.

_

75
91
19
51
90
28
66
07
50
95
40
86
32
79

$37.
37.
38.
39.
39.
40.
41.
42.
43.
43.
44.
45.
46.
47.

50
82
38
02
80
56
32
14
00
90
80
72
64
58

$75.
75.
76.
78.
79.
81.
82.
84.
86.
87.
89.
91.
93.
95.

00 $150. 00 $375. 00
64
151. 28
378. 20
76
153. 52
383. 80
390. 20
04
156. 08
398. 00
60
159. 20
162. 24
405. 60
12
64
165. 28
413. 20
421. 40
28
168. 56
00
430. 00
172. 00
80
175. 60
439. 00
60
179. 20
448. 00
44
182. 88
457. 20
186. 56
466. 40
28
190. 32
16
475. 80

$750.
756.
767.
780.
796.
811.
826.
842.
860.
878.
896.
914.
932.
951.

00
40
60
40
00
20
40
80
00
00
00
40
80
60

$7,
7,
7,
7,
7,
8,
8,
8,
8,
8,
8,
9,
9,
9,

500
564
676
804
960
112
264
428
600
780
960
144
328
516

Approxim ate investment
yield

(2) On pur­
chase price
from issue
date to be­
ginning of
each halfyear period 1

(3) On cur­
rent redem p­
tion value
from begin­
ning of each
half-year
period 1 to
maturity

Percent
0. 00
1. 71
2. 33
2. 67
3. 00
3. 16
3. 26
3. 36
3. 45
3. 53
3. 59
3. 64
3. 67
3. 70

Percent
*3. 75
*3. 89
*3. 96
*4. 01
*4. 01
*4. 03
*4. 05
*4. 06
*4. 06
*4. 04
*4. 03
*4. 02
*4. 01
t4. 43

Redem ption values and investment yields to maturity on basis of December 1,1965, revision

7 to 7Yi years
7Y years to 7 years and
-i
9 months . _
MATURITY VALUE
(7 years and 9 months
_
from issue date)_

$24. 29

$48. 58

24. 83

49. 66

99. 32

198. 64

25.13

50.26

100.52

201.04

Period after maturity date

First
year
y2 to 1 vear_.
1 to
years
V/2 to 2 years
2 to 2y2 years
2% to 3 years _
3 to 3}i years
3}i to 4 years
4 to 4Y years
2
__ _
4J4 to 5 years
5 to 5Y years_
2
5Y to 6 years
2
_
_
6 to 6% years
6% to 7 years
7 to 7y2 years
7}i to 8 years.
8 to 8 y2 years
8]4 to 9 years
9 to 9% years.
9)4 to 10 years
EXTENDED MATURITY
VALUE (10 years
from original maturity
date 2 ___
)
___

$971. 60

$9, 716

3. 73

4. 58

496. 60

993. 20

9, 932

3. 78

4. 86

502.60

1, 005.20

10, 052

3.81

$97. 16 $194. 32 $485. 80

(b) to ex­
tended
maturity

E X T E N D E D M A T U R I T Y P E R IO D

$25.
25.
26.
26.
27.
27.
28.
29.
29.
30.
30.
31.
32.
32.
33.
34.
34.
35.
36.
37.

13
65
18
73
28
85
43
02
62
23
86
50
15
82
50
20
91
63
37
12

37.89

$50. 26 $100. 52 $201. 04 $502. 60 $1, 005. 20
102. 60
51., 30
205. 20
513. 00
1, 026. 00
52. 36
104. 72
209. 44
523. 60
1, 047. 20
53. 46
106. 92
213. 84
534. 60
1, 069.20
54. 56
109. 12
218. 24
545. 60
1, 091. 20
111. 40
55. 70
222. 80
557. 00
1, 114. 00
56. 86
113. 72
227. 44
568. 60
1, 137. 20
58. 04
116. 08
232. 16
580. 40
1, 160. 80
59. 24
118. 48
592. 40
236. 96
1, 184. 80
60. 46
120. 92
241. 84
604. 60
1, 209. 20
61. 72
123. 44
246. 88
617. 20
1, 234. 40
63. 00
126. 00
252. 00
630. 00
1, 260. 00
64. 30
128. 60
257. 20
643. 00
1, 286. 00
65. 64
131. 28
262. 56
656. 40
1, 312. 80
67. 00
134. 00
670. 00
268. 00
1, 340. 00
68. 40
136. 80
273. 60
684. 00
1, 368. 00
69. 82
139. 64
279. 28
1, 396. 40
698. 20
71. 26
142. 52
712. 60
285. 04
1, 425. 20
72. 74
145. 48
290. 96
727. 40
1, 454. 80
74. 24
148. 48
296. 96
742. 40
1, 484. 80

75.78

151.56

303.12

757.80

1,515.60

$10,
10,
10,
10,
10,
11,
11,
11,
11,
12,
12,
12,
12,
13,
13,
13,
13,
14,
14,
14,

052
260
472
692
912
140
372
608
848
092
344
600
860
128
400
680
964
252
548
848

15, 156

3.
3.
3.
3.
3.
3.
3.
3.
3.
3.
3.
3.
3.
3.
3.
3.
3.
3.
3.
4.

81
83
85
87
88
90
91
92
93
94
95
95
96
97
97
98
99
99
99
00

4.00

*Yield from beginning of each half-year period to maturity at original maturity value prior to the December 1,1965, revision.
tYield from effective date of the December 1,1965, revision to maturity date,
i 3 month period in the case of the
year to 7 year and 9 month period.
-17 years and 9 months from issue date.




2
U.S. GOVERNMENT PRINTING OFFICE: 1967

0 — 2 4 7 -7 9 9

4.
4.
4.
4.
4.
4.
4.
4.
4.
4.
4.
4.
4.
4.
4.
4.
4.
4.
4.
4.

15
15
15
15
15
15
15
15
15
15
15
15
15
15
15
14
14
14
14
15