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FEDERAL RESERVE BANK OF DALLAS
F IS C A L A G E N T O F T H E U N ITE D S T A T E S

Dallas, Texas, April 6, 1964

NEW $75 DENOMINATION SERIES E SAVINGS BOND

To All Issuing Agents in the
Eleventh Federal Reserve District:

There is enclosed a copy of the Third Amendment dated January 27, 1964, to Treasury Department
Circular No. 653, Fifth Revision, dated September 23, 1959, which authorizes the issuance beginning May
1, 1964, of a $75 (maturity value) Series E bond. The bond will bear the portrait of the late President
John F. Kennedy and will have an issue price of $56.25.
Issuing agents wishing to provide this new denomination bond for their customers may requisition
on Form FA-72 a small supply of the bond. The form should be modified by inserting $75.00 and $56.25,
the maturity and issue values of the new bond, in the blocks provided for the $10,000 denomination. Your
initial order for the new bonds should be submitted on a separate Form FA-72, since shipment will not
be made until the latter part of April. In the beginning, agents should not attempt to maintain a normal
stock of this denomination, but should order only what they consider necessary for their immediate needs.
Under no circumstances should the new $75 bond show an issue date earlier than May 1, 1964, or be
delivered to any purchaser before that date.

The existing supplies of Forms PD 2507 and FA-907 (Series E bond applications) and PD 3252
(Series E bond stub transmittal letter) as well as requisition Form FA-72, referred to above, should con­
tinue to be used and modified to provide for the new denomination. With respect to Forms FA-72, PD 2507
and FA-907, the denomination ($75) and the issue price ($56.25) may be inserted on the forms after
lining out the $10,000 denomination and its related $7,500 issue price.
Issuing agents are requested to account for their $75 stubs and spoiled bonds by using the block on
Form PD 3252 provided for the $10,000 denomination after changing the heading of the block on all
copies of the form to $75. In the event any $10,000 stubs are to be accounted for, they should be submitted
on a separate transmittal letter until such time as a revised Form PD 3252 can be furnished containing
provision for the $75 denomination.
Additional copies of the enclosed amendment will be furnished upon request.
Yours very truly,
Watrous H. Irons
President

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

UNITED STATES SAVINGS BONDS
SE R IE S E
1964
Third Amendment to
Department Circular No* 653
Fifth Revision, dated
September 23, 1959

T

reasu ry

O

f f ic e

D

of

epartm ent,
the

S ecretary,

Washington, January 27, 196J.

Fiscal Service
Bureau of the Public Debt

Sections 316.5, 316.9, and 316.18 o f Depart­
ment Circular No. 653, Fifth Revision, dated
September 23,1959, as amended (31 CFR, Part
316, Supp. 1963), are hereby amended effective
May 1, 1964, to read as follow s:
Sec. 316.5. Description {registered form,
only—denominations—issue date, etc.).— Series
E bonds are issued only in registered form and
in denominations o f $25, $50, $75, $100, $200,
$500, $1,000, $10,000, and $100,000 (which is
provided for trustees o f employees’ savings
plans). Each bond will bear the facsimile sig­
nature o f the Secretary of the Treasury and
an imprint o f the Seal of the Treasury Depart­
ment. At the time o f issue, the issuing agent
will inscribe on the face o f each bond the name
and address of the owner and the name o f the
coowner or beneficiary, if any; will enter in the
upper right-hand portion o f the bond the issue
date (which shall be the first day o f the mdnth
and year in which payment of the issue price is
received by an authorized issuing agent); and
will imprint the agent’s dating stamp in the
lower right-hand portion to show the date the
bond is actually inscribed. As indicated in sec­
tion 316.3(b), the issue date is important in de­
termining the date on which the bond becomes
redeemable, its maturity date and yield thereto
as well as its intermediate yields. Accordingly,
it should not be confused with the date on the
agent’s dating stamp. A Series E bond shall
be valid only if an authorized issuing agent re­
ceives payment therefor, duly inscribes, dates,
stamps, and delivers it. See section 316.6 for
forms o f registration and section 316.9 for issue
prices of bonds.
Sec. 316.9. Issue prices o f bonds.— The issue
prices o f the various denominations o f Series E
bonds follow :

720-161 0 — 64

Issue
( purchase )

Denomination
(face value)

$25.00
$50.00
$75.00
$ 100.00
$200.00
$500.00

price

.
.
.
.
.

.

$1, 000. 00 .
$10, 000.00 .
$100, 000. 001

$18. 75
37.50
56.25
75.00
150.00
375.00
750.00
7, 500. 00
75, 000. 00

1 The $100,000.00 denomination Is available for purchase
only by trustees of employees’ savings plans described In sec­
tion 316.7(e).

Sec. 316.18. Payment or redemption {in gen­
eral) .—A Series E bond may be redeemed at the
option of the owner at any time after two
months from the issue date at the appropriate
redemption value as shown in the tables at the
end o f this circular, which apply to bonds bear­
ing various issue dates back to May 1, 1941.
The redemption values o f bonds in the denom­
ination o f 100,0001 (which was authorized as of
January 1, 1954) are not shown in those tables.
However, the redemption values of bonds in
that denomination will be equal to the total re­
demption values of ten $10,000 bonds bearing
the same issue dates. The redemption values
before maturity o f bonds of Series E in the de­
nominations o f $75 are set forth in the ap­
pended table. A Series E bond in a denomina­
tion higher than $25 (face value) may be re­
deemed in part but only in the amount o f an
authorized denomination or multiple thereof.
Payment of a Series E bond will be made upon
presentation and surrender o f the bond by the
owner to authorized paying agencies as follow s:

JOHN K. CARLOCK,
Fiscal Assistant Secretary o f the Treasury.

2
U N ITED ST A T ES SAVIN G S BONDS—SE R IE S E
Table of Redemption Values and Investment Yields for $75 Denomination Bonds

Table showing: (1) How bonds of Series E, $75 denomination, increase in redemption value
during successive half-year periods following issue; (2) the approximate investment yield on the
purchase price from issue date to the beginning o f each half-year period; and (3) the approximate
investment yield on the current redemption value from the beginning o f each half-year period to
maturity. Yields are expressed in terms o f rate percent per annum, compounded semiannually.
Face value.
Issue price___

$75. 00
56. 25

__________ ____ ___________________
______ ____
_____

Approximate investment yield

First
year _ _ ____________ ____________________
% to 1 year
_ _ __________________ __________ __
1 to 1^2 years. _ _____________________________ __
_
to 2 y ea rs___ _________
_______ __
________
______
______ ________________ __
2 to 2% years
2}i to 3 years_
_ . . _____ _________ _ _ _______
3 to
years
__________________ __ _
_____
_______ __
_____________ __
to 4 years_
4 to 4 V> years
<
______ ____
_____
____
__ __
4}i to 5 y e a r s ___ __________________
_____ _______
__ ___
_____
5 to
years. ___________ ____
to 6 y e a r s ___ _____________ _________ _ _____ __
6 to 6 years____ _____________________
_ ____
to 7 years _ _ . ____________________ _________
7 to
years. _________________________________ ____
7% years to 7 years and 9 months____ . . _______
FACE V ALU E (7 years and 9 months from issue

'

$56.
56.
57.
58.
59.
60.
61.
63.
64.
65.
67.
68.
69.
71.
72.
74.

(2) On purchase
price from issue
date to beginning
of each half-year
period 1

(3) On current
redemption value
from beginning of
each half-year
period 1to maturity

Percent

Period after issue date

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

Percent

0.
1.
2.
2.
3.
3.
3.
3.
3.
3.
3.
3.
3.
3.
3.
3.

25
73
57
53
70
84
98
21
50
85
20
58
96
37
81
25

*3.
3.
3.
4.
4.
4.
4.
4.
4.
4.
4.
4.
4.
4.
3.
4.

00
71
33
67
00
16
26
36
45
53
59
64
67
70
72
74

3. 75

75. 00

♦Approximate investment yield for entire period from issuance to maturity.
1 3-month period in the case of the 7}£-year to 7-year and 9-month period.

U .S . GOVERNMENT PRINTING O F FICE ; 1 9 8 4

O — 7 2 0 -1 6 1

75
89
96
01
01
03
05
06
06
04
03
02
01
01
99
06


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102