Redemption values for savings bonds, notes

December 26, 1991

At year end, The Evening Sun publishes the redemption value of U.S. savings notes and bonds.

Savings notes, also known as "Freedom Shares," were issued during the Johnson administration. Series EE bonds replaced Series E bonds in 1980.

Since 1982, the interest rate has been linked to rates paid on other government securities. Held five years or longer, EE bonds earn 85 percent of the average return on five-year Treasury securities during the period.

The fluctuating rate is set twice a year, in November and May. The current rate is 6.38 percent, which is good until April 30. The prior six-month period it was 6.57 percent.

Tomorrow, Money Today will print values for the remaining Series EE and for Series E bonds. Banks also have redemption tables. Redemption information also can be obtained by calling the Treasury Department at (410) 962-2800.

Interest on savings notes and bonds is exempt from state and local taxes. In addition, federal taxes can be deferred until the bonds are redeemed.

U.S. savings bonds are sold at most financial institutions and through payroll savings.

Bonds can be purchased for as little at $25 for a $50 face value bond. If savings bonds are lost or stolen, the Treasury Department will replace them without a fee.

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