[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR316.2]

[Page 189-190]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 316--OFFERING OF UNITED STATES SAVINGS BONDS, SERIES E--Table of Contents
 
Sec. 316.2  Description of bonds.

    (a) General. Series E bonds bear a facsimile of the signature of the 
Secretary of the Treasury and of the Seal of the Department of the 
Treasury. They were issued only in registered form and are 
nontransferable.
    (b) Denominations and prices. Series E bonds were issued on a 
discount basis. The denominations and issue prices were:


                       Denomination                          Issue price

$25.......................................................        $18.75
50........................................................         37.50
75........................................................         56.25
100.......................................................         75.00
200.......................................................        150.00
500.......................................................        375.00
1,000.....................................................        750.00
10,000....................................................      7,500.00
100,000\1\................................................     75,000.00

\1\ The $100,000 denomination was available only for purchase by
  trustees of employee savings and savings and vacation plans (see
  paragraph (b) of Sec.  316.5).

    (c) Inscription and issue. At the time of issue, the issuing agent:
    (1) Inscribed on the face of each bond the name, social security 
number and address of the owner, and the name of the beneficiary, if 
any, or the name, social security number and address of the first-named 
coowner and the name of the other coowner (the inscription of the social 
security number was required for bonds issued on or after January 1, 
1974);
    (2) Entered the issue date in the upper right-hand portion of the 
bond; and
    (3) Imprinted the agent's validation indicia in the lower right-hand 
portion to show the date the bond was actually inscribed. A bond was 
valid only if an

[[Page 190]]

authorized issuing agent received payment therefor and duly inscribed, 
dated and imprinted validation indicia on the bond.
    (d) Term. A Series E bond was dated as of the first day of the month 
in which payment of the purchase price was received by an agent 
authorized to issue the bonds. This date is the issue date. The bonds 
mature as shown in Sec. 316.8. The bond may not be called for redemption 
by the Secretary of the Treasury prior to maturity or the end of any 
extended maturity period (see paragraph (a) of Sec. 316.8). The bond may 
be redeemed at the owner's option at any time at fixed redemption 
values.
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    \1\ [Reserved]
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    (e) Investment yield (interest). The investment yield (interest) on 
Series E bonds is defined in paragraphs (c) and (d) of Sec. 316.8. 
Beginning in the third month from its issue date, a bond increased in 
redemption value on the first day of each month, up to and including the 
thirtieth month from issue date, so as to provide for such period an 
investment yield of no less than 4 percent per annum, compounded 
semiannually. Thereafter, its redemption value increases at the 
beginning of each successive half-year period. The interest is paid as 
part of the redemption value.