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FEDERAL RESERVE BANK OF NEW YO R K Fiscal Agent of the United States /"Circular No. 5 1 1 0 1 (.November 17, 1961J 3% Percent Treasury Bonds o f 1968, Additional Issue OFFERED AT 99.50 IN EXCHANGE FOR Series F or G Savings Bonds Issued in 1950, Maturing in 1962 To A ll Banking Institutions, and Others Concerned, in the Second Federal B eserve D istrict: The following statement was made public today by the Treasury Department: The Treasury is offering to the holders of approximately $970 million of Series F and G Savings Bonds issued in 1950, which mature in 1962, an opportunity to exchange them at their face amount, with certain interest and other adjustments as of December 15, 1961, for 3 % % Treasury Bonds of 1968, dated June 23, 1960, maturing May 15, 1968, to be issued at 99.50. These 3 % % Treasury Bonds will constitute an additional amount to the $2,137 million of such bonds now outstanding. Interest is payable on the bonds on May 15 and November 15. The Series F and G bonds will be accepted in the exchange at amounts set forth in the offering circular for their respective months of maturity. These exchange values are higher than present redemption values. They have been set so that holders of Series F and G bonds who elect to accept this exchange offer will receive, in effect, an investment yield of approximately 1 °/o than would otherwise accrue from December 15, 1961, to the maturity dates of their bonds, and will receive an investment yield of approximately 3.96% on the 3 % % marketable bonds received in exchange for the period from maturity dates of their Series F and G bonds to May 15, 1968. The subscription books for exchanges of the Series F and G savings bonds maturing in 1962 will be open for the receipt of subscriptions from classes of subscribers during the period from November 20 through November 24, 1961, and in addition, subscriptions may be submitted by individuals through November 30, 1961. For this purpose, individuals are defined as natural persons in their own right. Any perannummore all subscription addressed to a Federal Reserve Bank or Branch, or to the Treasurer of the United States, and placed in the mail before midnight of the respective closing dates, accompanied by the Series F and G bonds maturing from January 1 through December 1, 1962, to be exchanged, together with any cash difference necessary to make up the next higher $500 multiple (the lowest denomination of the new bonds), will be considered timely. The delivery date for the 3 % % Treasury Bonds of 1968 will be December 20, 1961. The bonds will be available in registered form, as well as bearer form. The Treasury bonds may be registered jointly in the names of two individuals, but not in the beneficiary form as in the ease of savings bonds. However, unlike savings bonds, Treasury bonds registered jointly in two names require the signature of each owner to effect transfer or sale. Exchanges of Series F and G Savings Bonds maturing in 1962, will be made on the basis of equal face amounts and will be allotted in full. Since holders of the Series F and G bonds will receive interest on the 3% % Bonds o f 1968 at the rate of 3 % % from November 15, 1961, interest adjustments will be made as follows: A ll subscribers will be charged accrued interest on the 3 % % Treasury Bonds from November 15, 1961, to December 15, 1961 ($0.32 per $100), and will be credited with the discount on the issue price of the bonds ($0.50 per $100). The lowest denomination of the 3 % % Treasury Bonds of 1968 is $500. Holders of smaller denominations of Series F and G bonds may exchange them for the next higher multiple of $500 upon payment of any cash difference. The marketable 3 % % Treasury Bonds of 1968 are subject to fluctuations in prices at which they may be sold. Holders of Series F and G bonds, except bonds registered in the names of commercial banks in their own right (as distinguished from a representative or fiduciary capacity) desiring a security not subject to market fluctuations may exchange them at maturity for Series E or H bonds with interest at 3%% if held to maturity. Full details of this offering to holders of Series F and G bonds appear in the official circular being released at this time, and which will be available at banking institutions on November 20, 1961, or shortly thereafter. Holders may consult their local banks for further information after that time. The text of the official circular referred to above is printed on the following pages. Sub scriptions will be received by this Bank as fiscal agent o f the United States. Subscriptions should be made on official subscription forms, copies of which are enclosed, and should be mailed immediately. I f filed by telegram or letter, subscriptions should be confirmed immediately by mail on the forms provided. The subscription books will remain open from November 20 through November 24, 1961, and, in addition, subscriptions may be submitted by individuals through November 30,1961. A lfred H ayes, P r e s id e n t. UNITED STATES OF AMERICA 3Va PERCENT TREASURY BONDS OF 1968 Dated June 23, 1960, with interest from D ecem ber 15, 1961 D ue M ay 15, 1968 Interest payable May 15 and N ovem ber 15 A D D IT IO N A L ISSUE 1961 D ep artm en t C irc u la r N o . 1072 TREA SU RY DEPARTM EN T, Office of the Secretary, F is c a l S e rvic e B u re a u o f th e P u b lic D ebt I. O FFERIN G O F BO N D S 1. The Secretary of the Treasury, pursuant to the authority of the Second Liberty Bond Act, as amended, invites subscriptions, at 99.50 percent of their face value and accrued interest, for bonds o f the United States, designated 3% percent Treasury Bonds of 1968, in exchange for a like face amount of United States Savings Bonds of Series F and G maturing in the calendar year 1962, which will be accepted at exchange values as provided in Section IV hereof. Holders of Series F and G bonds aggregating less than an even multiple o f $500 maturity value (the lowest denomina tion of new bonds available) may exchange such bonds with payment o f the difference in cash to make up the next higher $500 multiple. Interest on the bonds will be adjusted as of December 15, 1961, and an adjustment in favor of subscribers representing the discount from the face value of the bonds will be made as provided in Section IV hereof. The amount of the offering under this circular will be limited to the amount of securi ties, together with cash adjustments, tendered in ex change and accepted. The books will be open for the receipt of subscriptions for this issue from all classes of subscribers from November 20 through November 24, 1961, and in addition, subscriptions may be sub mitted by individuals through November 30,1961. For this purpose individuals are defined as natural persons in their own right. Delivery of the new bonds will be made on December 20,1961. n. D E SC R IP T IO N O F BO N D S 1. The bonds now offered will be an addition to and will form a part o f the 3% percent Treasury Bonds of 1968 issued pursuant to Department Circulars Nos. 1044, 1049 and 1064, dated June 8, 1960, August 1, 1960, and July 17, 1961, respectively, will be freely interchangeable therewith, and are identical in all respects therewith except that interest on the bonds to be issued under this circular will accrue from Decem ber 15, 1961. Subject to the provision for the accrual of interest from December 15, 1961, on the bonds now offered, the bonds are described in the following quota tion from Department Circular No. 1044: “ 1. The bonds will be dated June 23, 1960, and will bear interest from that date at the rate of 3% percent per annum, payable on a semiannual basis on November 15, 1960, and thereafter on May 15 Washington, November 17, 1961. and November 15 in each year until the principal amount becomes payable. They will mature May 15, 1968, and will not be subject to call for redemption prior to maturity. “ 2. The income derived from the bonds is sub ject to all taxes imposed under the Internal Revenue Code of 1954. The bonds are subject to estate, in heritance, gift or other excise taxes, whether Federal or State, but are exempt from all taxation now or hereafter imposed on the principal or interest thereof by any State, or any of the possessions of the United States, or by any local taxing authority. “ 3. The bonds will be acceptable to secure de posits of public moneys. They will not be acceptable in payment of taxes. “ 4. Bearer bonds with interest coupons attached, and bonds registered as to principal and interest, will be issued in denominations of $500, $1,000, $5,000, $10,000, $100,000 and $1,000,000. Provision will be made for the interchange of bonds of differ ent denominations and of coupon and registered bonds, and for the transfer of registered bonds, under rules and regulations prescribed by the Secre tary of the Treasury. “ 5. The bonds will be subject to the general regulations of the Treasury Department, now or hereafter prescribed, governing United States bonds. ’ ’ m . SU B SC R IPT IO N A N D A L L O T M E N T 1. Subscriptions will be received at the Federal Reserve Banks and Branches and at the Office of the Treasurer of the United States, Washington, D. C. Banking institutions generally, and paying agents eligible to process bonds under Treasury Department Circular No. 888, Revised, may submit exchange sub scriptions for account of customers, but only the Federal Reserve Banks and the Treasury Department are authorized to act as official agencies. 2. The Secretary of the Treasury reserves the right to reject or reduce any subscription, and to allot less than the amount of bonds applied f o r ; and any action he may take in these respects shall be final. Subject to these reservations, all subscriptions will be allotted in full. Allotment notices will be sent out promptly upon allotment. IV. PAYMENT 1. Payment for the face amount of bonds allotted hereunder must be made on or before December 20, 1961, or on later allotment, and may be made only in a like face amount of United States Savings Bonds of Series F and Series G maturing from January 1 to De cember 1, 1962, inclusive, and any cash difference necessary to make up an even $500 multiple, which bonds and cash should accompany the subscription, together with the net amount, if any, to be collected from the subscriber as set forth in Tables 1 and 2 at the end of this circular. The Series F and G bonds will be accepted in the exchange at amounts set forth thereunder for their respective months of maturity. These exchange values are higher than present re demption values. They have been set so that holders of Series F and G bonds who elect to accept this exchange offer will receive, in effect, an invest ment yield approximately one percent per annum more than would otherwise accrue from December 15, 1961, to the maturity dates o f their bonds, and will receive an investment yield o f approximately 3.96 percent on the 3% percent marketable bonds received in exchange for the period from the maturity dates of their Series F and G bonds to May 15, 1968. All subscribers will be charged the interest from No vember 15, 1961, to December 15, 1961 ($0.32 per $100) on the bonds allotted. Other adjustments with respect to bonds accepted in exchange will be made as set forth in Tables 1 and 2, which also show the net amounts to be collected from or paid to subscribers for each $100 (face amount) of bonds accepted in exchange. (a) Series F bonds.— The exchange values of Series F bonds, the differences between such values and the offering price of the 3% percent bonds, the interest which will accrue on the new bonds and the total amounts to be collected from or paid to holders of Series F bonds per $100 (face amount) are as set forth in Table 1. (b) Series G bonds.— The exchange values of Series G bonds, the differences between such values and the offering price o f the 3% percent bonds, the accrued interest to be credited on the Series G bonds, the inter est which will accrue on the new bonds and the total amounts to be collected from or paid to holders of Series G bonds per $100 (face amount) are as set forth in Table 2. 2. Any qualified depositary will be permitted to make payment by credit in its Treasury Tax and Loan Account for any cash payments authorized or required to be made under this circular for bonds allotted to it for itself to d its customers up to any amount for which it shall be qualified in excess o f existing deposits, when so notified by the Federal Reserve Bank of its District. 3. Series F and G bonds tendered in exchange must bear appropriate requests for payment in accord ance with the provisions o f Treasury Department Cir cular No. 530, Eighth Revision, as amended, or the special endorsement provided for in Treasury Depart ment Circular No. 888, Revised. In any case in which bonds in bearer form, or registered bonds in another name, are desired, requests for payment must be sup plemented by specific instructions signed by the owner who signed the request for payment. A n owner’s in structions for bearer or registered bonds may be re corded on the surrendered bonds by typing or other wise recording on the back thereof, or by changing the existing request for payment form to conform to one of the two following form s: (a) I am the owner o f this bond and hereby request exchange for 3 % % Treasury Bonds of 1968 in bearer form to be delivered to (insert name and address of person to whom delivery is to be made). (b) I am the owner of this bond and hereby request exchange for 3 % % Treasury Bonds of 1968 registered in the name of (insert exact registra tion desired— see Section V hereof). V. R E G IS T R A T IO N OF BONDS 1. Treasury bonds may be registered only as au thorized in Treasury Department Circular No. 300, Revised, as supplemented. Registration in the name of one person payable on death to another is not author ized. Registered Treasury bonds may be transferred to a purchaser only upon proper assignment. Treasury bonds registered in the form “ A or B ” may be trans ferred only upon assignment by or on behalf of both, except that if one of them is deceased, an assignment by or on behalf of the survivor will be accepted. Since Treasury bonds are not redeemable before maturity at the option of the owners, the effects of registering them in the names of two or more persons are import ant. Information concerning the effects of various forms of registration may be obtained from any Federal Reserve Bank or Branch, the Office of the Treasurer of the United States, Washington, D. C., or from banking institutions generally. V I. G E N E R A L PR O VISIO N S 1. As fiscal agents of the United States, Federal Reserve Banks are authorized and requested to receive subscriptions, to make allotments on the basis and up to the amounts indicated by the Secretary of the Treasury to the Federal Reserve Banks of the respec tive Districts, to issue allotment notices, to receive pay ment for bonds allotted, to make delivery of bonds on full-paid subscriptions allotted, and they may issue in terim receipts pending delivery of the definitive bonds. 2. The Secretary of the Treasury may at any time, or from time to time, prescribe supplemental or amen datory rules and regulations governing the offering, which will be communicated promptly to the Federal Reserve Banks. ROBERT V. ROOSA, A ctin g Secretary o f the Treasury T able 1 — For Series F Bonds F bonds m aturing in 1962 on the first day o f — January ................ F e b r u a r y .............. M arch .................. A p ril . ................ M ay ...................... J u n e ...................... Ju ly ...................... A u gust ................ September ......... O ctober ................ Novem ber ........... Decem ber ........... Charge or credit fo r differences between $99.50 (offerin g price per $100 o f new bonds) and exchange values o f F bonds 3 TO B E P A ID TO SU B SC R IB E R S (Col. 3 minus 4 ) TO B E COL LECTED FROM SU B S C R IB E R S (C ol. 2 plus 4 minus 3 ) 2 Interest accruing per $100 on new bonds from N ov. 15, 1961 to m aturity dates o f F bonds in 1962 Col. 4 Col. 5 Col. 6 Col. 7 $0.32 0.32 0.32 0.32 0.32 0.32 0.32 0.32 0.32 0.32 0.32 0.32 $0.06 — — — — — — — — — — — $0.50 0.83 1.13 1.47 1.79 2.12 2.43 2.76 3.09 3.40 3.73 4.05 Exchange values of F bonds p er $100 (fa c e am t.) Charge Credit Interest N ov. 15 to D ec. 15, 1961 to be charged on new bonds per $100 (fa c e am t.) of F bonds Col. 1 Col. 2 Col. 3 $99.88 99.64 99.40 99.16 98.92 98.64 98.40 98.16 97.92 97.68 97.44 97.20 — — $0.10 0.34 0.58 0.86 1.10 1.34 1.58 1.82 2.06 2.30 $0.38 0.14 — — — — — — — — — — 1 T otal amounts per $100 (fa c e am t.) o f F bonds accepted — $0.18 0.42 0.66 0.90 1.18 1.42 1.66 1.90 2.14 2.38 2.62 1 In addition, fo r each $100, or multiple or fra ction thereof, between the fa c e amount o f Series F bonds the fa c e amount o f bonds subscribed (to next higher multiple o f $500) the subscriber must pay $99.82 price plus $0.32 accrued in terest). 2 Including $0.32 per $100 paid b y subscriber as accrued interest from Novem ber 15, 1961 to Decem ber 4 ). This data is included fo r in form ation only. 3 The net amount to be paid to subscribers w ill be paid follow in g acceptance o f the bonds b y the agency the exchange is made. subm itted and ($99.50 issue 15, 1961 (Col. through which T able 2 — F o r Series G Bonds G bonds m aturing in 1962 on the first day o f — January ................ F ebruary .............. M arch .................. A p ril .................... M ay ...................... J u n e ...................... J u ly ....................... A u gu st ................ Septem ber ......... O ctober ................ N ovem ber ........... Decem ber ........... Exchange values of G bonds per $100 (fa c e am t.) Credit fo r differences between $99.50 (offerin g price per $100 o f new bonds) and exchange values o f G bonds Col. 1 $99.98 99.94 99.90 99.86 99.82 99.79 99.76 99.71 99.68 99.64 99.60 99.56 1 T otal amounts per $100 (fa c e am t.) o f G bonds accepted Interest to be credited on G bonds per $100 (fa c e am t.) Interest N ov. 15 to D ec. 15, 1961 to be charged on new bonds per $100 (fa c e am t.) o f G bonds 3 TO B E P A ID TO SU B SC R IB E R S (Cols. 2 plus 3 minus 4 ) TO B E COL LECTED FR O M S U B S C R IB E R S (Cols. 4 minus 2 and 3) 2 Interest accruing per $100 on new bonds fro m N ov. 15, 1961 to m aturity dates o f G bonds in 1962 Col. 2 Col. 3 Col. 4 Col. 5 Col. 6 Col. 7 $0.48 0.44 0.40 0.36 0.32 0.29 0.26 0.21 0.18 0.14 0.10 0.06 $1.15 0.94 0.73 0.52 0.31 0.10 $0.32 0.32 0.32 0.32 0.32 0.32 0.32 0.32 0.32 0.32 0.32 0.32 $1.31 1.06 0.81 0.56 0.31 0.07 — 0.83 — — — — — — $0.50 0.83 1.13 1.47 1.79 2.12 2.43 2.76 3.09 3.40 3.73 4.05 ( 4) 0.94 0.73 0.52 0.31 0.10 0.59 0.34 0.09 — $0.16 — — — — 0.16 1 In addition, fo r each $100, or multiple thereof, between the fa ce amount o f Series G bonds subm itted and the fa ce amount o f bonds subscribed (to next higher multiple o f $500) the subscriber must pay $99.82 ($99.50 issue price plus $0.32 accrued in terest). 2 In cluding $0.32 per $100 paid b y subscriber as accrued interest from Novem ber 15, 1961 to Decem ber 15, 1961 (C ol. 4 ). This data is included f o r inform ation only. 3 The net amount to be paid to subscribers w ill be paid follow in g acceptance o f the bonds b y the agency through which the exchange is made. 4 Interest w ill be paid to January 1, 1962, on bonds m aturing July 1, 1962, in regular course on January 1, 1962, b y checks mailed b y the Treasury Department. A s these checks will include unearned interest f o r the period from D ecem ber 15, 1961, to January 1, 1962, each subscriber who tenders these bonds w ill be required to make an interest refund o f $0.10 per $100 (fa c e am ou nt). The above amount o f $0.16 in Col. 6 includes such refund. Subscriber’s Reference No. (P le a se ty p e o r print le g ib ly ) Subscription No. United States Savings Bonds of Series F or G issued in 1950 and maturing in 1962 must be tendered in payment for this subscription. EXCHANGE SUBSCRIPTION For United States of America V/& Percent Treasury Bonds of 1968, Additional Issue Dated June 23, 1960, With Interest from December 15, 1961, Due May 15, 1968 In stru ction s. 1. B a nking in stitu tio n s su b m ittin g e x c h a n g e su b sc rip tio n s fo r a c c o u n t of c u sto m ers should file a se p a ra te su b s c rip tio n fo r e a c h c u sto m e r. 2 . Bonds te n d e re d in ex ch a n g e m u st b e a r a p p ro p ria te re q u e sts fo r p a y m e n t in a cc o rd a n c e w ith th e p ro v isio n s of T re a su ry D e p a rtm e n t C irc u la r No. 5 3 0 , E ig h th R evision, as a m en d ed , o r th e sp ecial e n d o rsem e n ts p rovided fo r in T re a su ry D e p a rtm e n t C irc u la r No. 8 8 8 , R evised. If a re g is te re d o w n e r of savings bonds desires new bonds in b e a re r fo rm o r in a n o th e r nam e, re q u e sts fo r p a y m e n t n o t m ad e in a c c o rd a n c e w ith T re a s u ry D e p a rtm e n t C irc u la r No. 8 8 8 , R evised, m ust be su p p le m e n ted by specific in s tru c tio n s sig n ed by th e o w n e r w ho signed th e r e q u e s t fo r paym ent; a su b scrip tio n p ro p e rly signed by th e b o n d o w n e r m ay be a c c e p te d as th e su p p le m e n tal in stru c tio n s re q u ire d by th is pro v isio n . 3 . H o ld ers of S eries F a n d G bonds a g g re g a tin g less th a n a m u ltip le of $ 5 0 0 m a tu rity v a lu e (t h e low est d e n o m in a tio n of new bonds a v a ila b le ) m ay e x ch a n g e su ch bonds w ith p a y m e n t of th e differ e n c e in c a sh to m ak e u p th e n e x t h ig h e r $ 5 0 0 m u ltip le. To F ederal R eserve B ank of New Y ork, Fiscal Agent of the United States, Dated at ..................................................................... Federal Reserve P. 0. Station, ............................................................. yD New York 45, N. Y. Attention Savings Bond Department— 6th Floor D ear Sirs : Subject to the provisions of Treasury Department Circular No. 1072, dated November 17, 1961, the undersigned hereby subscribes for United States of America 3% percent Treasury Bonds of 1968, Additional Issue, in the amount of $ ................................. (par amount) and herewith tenders in payment therefor United States Savings Bonds issued in 1950 and maturing in 1962, having total maturity values as follows: Series F $ ................................................................ Series G $ ....................................................................... (from Column 1 o f schedule on reverse side entitled “ Savings Bonds Surrendered” ) and further tenders cash, as follows: 1. Amount payable by subscriber to round subscription to next higher multiple of $500; this amounts to $99.82 for each additional $100 face amount needed in the rounding (see footnote 1 of Tables 1 and 2 in Treasury Department Circular No. 1072) ............................................................................................. 2. Total amount payable by subscriber on savings bonds surrendered (from Column 5 of schedule on reverse side entitled “ Savings Bonds Sur rendered” ) .......................................................................................................... $ .................................. $ .................................. 3. Total of lines 1 and 2 ............................................................................................. 4. Total amount payable to subscriber on savings bonds surrendered (from Column 4 of schedule on reverse side entitled “ Savings Bonds Sur rendered” ) ........................................................................... ............................ The savings bonds surrendered in exchange are : Delivered to you herew ith............................... To be withdrawn from securities held by you (Signature(s) required also on Delivery Instructions below) (D o N ot fill in b o x es b e lo w ) fla s h $ (ThocV & Res. Y A /C . ... $ T & L A /C . | Submitted (Please print) By By ............... R ecobdaked Checked by R eported (Authorized signature (s) required) ..................... Title ................. Title ................... Address ............................................................................................................... .................... ( I f this subscription is entered by a banking institution for account of a customer, please indicate name o f customer on line below) Subscription No. DELIVERY INSTRUCTIONS — EXCHANGE SUBSCRIPTION For United States of America 3% Percent Treasury Bonds of 1968, Additional Issue Dated June 23, 1960, With Interest from December 15, 1961, Due May 15, 1968 BEARER BONDS DESIRED IN EXCHANGE Delivery Instructions (U se schedule on reverse side fo r REG IST E R E D bonds) Denomi nation ses $ (For bearer bonds desired in exchange) (Leave this space blank) Face amount □ 1. □ 2. 500 1,000 □ 3. □ 4. Ship to the undersigned 5,000 □ h. 5. u Special instructions: 10,000 100,000 1,000,000 TOTAL ^ im r u iv in n i; T h e u n d e rsig n e d h e re b y certifies th a t th e se c u rities to b e d isp o se d of a s in d ic a te d in item 2 o r 3 above a r e o w n e d solely by th e u n d e r s i g n e d . ____________ Submitted T h e s u b s c r i p t i o n b o o k s w ill o p e n o n N o v e m b e r 2 0 , a n d c lo s e a t th e c lo s e o f b u s in e s s a s f o l l o w s : N o v e m b e r 3 0 , f o r in d iv id u a ls , N o v e m b e r 2 4 , f o r a ll o t h e r s . ~—- - — j --— ------- - y ----- “ t A s e p a ra te su b scrip tio n fo rm m ust be sub m itted fo r e a c h g ro u p of se c u rities fo r w hich d iffere n t deliv ery in stru c tio n s a re g iv e n .) by By .............. (Please print) By (Authorized signature (s) required) ............. Title . . Title ................... Address (S p a c e s below a re fo r th e use of th e F e d e ral R eserve B ank of New Y o rk ) Government Bond Division Savings Bond Division Safekeeping Division D E L IV E R Y RECEIPT Received from Federal Reserve above. D a te ..................................... Bank o f New York, Fiscal Agent o f the United States, the above described securities in the amount indicated By. Subscriber Subscription No. (Subscriber: Please fill in all appropriate spaces below and your name and address in box below) NONNEGOTIABLE RECEIPT Date Receipt is acknowledged of your exchange subscription for $ ....................... . par amount of 3% percent Treasury Bonds of 1968, Additional Issue, together with securities tendered in exchange in the amount ot * .................................... (subject to count and verification). Teller F ederal R eserve B a n k of N e w Y ork Fiscal Agent of the United States SAVING S BONDS SURRENDERED Month o f Net amount to be paid per $.100* Maturity 1962 Maturity value __ Column 1 To Subscriber Column 2 Total amount to be paid_________ By Subscriber Column 3 To Subscriber Column 4 By Subscriber Column 5 SERIES P Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec. Total Series F — — $0.18 0.42 0.66 0.90 1.18 1.42 1.66 1.90 2.14 2.38 2.62 XXX XXX $0.06 — — — — — — — — — $ — $ $ $ $ $ $ $ $ $ SERIES G Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec. Total Series $1.31 1.06 0.81 0.56 0.31 0.07 — 0.83 0.59 0.34 0.09 — $ G $ — — — —■ — — $0.16 — — — — 0.16 XXX XXX * (F o r explanation o f amounts in Columns 2 and 3, see Treasury Department Circular No. 1072—Table 1 for Series F bonds and Table 2 fo r Series G bonds.) Total Series F and G $ $ (E n te r this amount on line 4, page 1) (E nter this amount on line 2, page 1) TREASURY DEPARTMENT Bureau of the Public Debt EFFECTS OF 3% % FOR R E G IS T E R IN G TREASURY S E R IE S F IN THE BONDS AND G OF NAM ES OF TW O 1968, IS S U E D S A V IN G S BONDS IN OR M ORE PERSONS EXCHANGE M A T U R IN G IN 1962 There are some important differences between the marketable 3% % Treasury bonds of 1968 and United States Savings Bonds. One essential difference is that (unlike savings bonds) the 3% % Treasury bonds of 1968 are not redeemable at the option of the owners before maturity. Before maturity owners of the 3% % Treasury bonds of 1968 may obtain cash for them only by selling them either direct to a purchaser or through a bank or broker. With respect to the 3% % Treasury bonds of 1968 registered in coownership form, their sale may be accomplished only by assignments which must be exe cuted by all the coowners if all are living. Authorized forms of registration for the 3% % Treasury bonds of 1968 held by two or more persons and a description of the effects of each such form of registration follow : Registration W it h R ig h t o f S u r v iv o r s h ip (a) “ John A. Doe or Mrs. Mary C. Doe or the survivor” (b) “ John A. Doe or Mrs. Mary C. Doe or Miss Joan C. Doe or the survivors or survivor” (c) “ John A. Doe and Mrs. Mary C. Doe or the survivor” W it h o u t R ig h t o f S u r v iv o r s h ip (d) “ John A. Doe and Mrs. Mary C. Doe as tenants in common” (e) “ John A. Doe or Mrs. Mary C. Doe without right of survivorship” M in o r s Registration in the name of a minor alone (as distinguished from registration in the name of a legal or natural guardian), either jointly or in the alternative with another person or persons is not authorized. Transactions Before maturity, the 3% % Treasury bonds of 1968 registered in any of the foregoing authorized forms may be trans ferred or exchanged for bearer securities only upon proper assignment by or in behalf of all the living coowners. Upon prooi of death of any one of them, the Treasury will honor assignments by or in behalf of the survivor(s) unless the registra tion shows survivorship is not intended, as in (d) and (e) above, in which case, in addition to an assignment by or ir behalf of the survivor(s), an assignment in behalf of the decedent’s estate will be required. Interest checks for bonds reg istered as described in (a) and (b) may be endorsed by any one payee. Interest checks for bonds registered as in (c) and (d) must be endorsed by or in behalf of all while living. At maturity, bonds registered as shown in (a), (b) and (e) may be assigned by one coowner for redemption for hi own account or otherwise whether or not any other coowner is deceased. One coowner of bonds registered as in (c) and (d) may assign them for redemption for the account of all, if all are living. Upon proof of the death of one, the survivoi or survivors may assign the bonds so registered for any account, except that if the words ‘ ‘ as tenants in common ’ ’ appeal in the registration, as in (d), assignment in behalf of the decedent’s estate will also be required. S c h e d u le f o r Issu e o f R e g is te r e d B onds ( I f bonds are to be registered in names o f two or more persons, see Treasury Department notice printed above.) ( I f registered bonds, which are mailed directly by Treasury Department, Washington, D. C., are not to be sent to the registered owner, give mailing instructions below.) Mail registered bonds to
@FedFRASER