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Bureau of the Public Debt Announces Series EE Savings Bond Rate for May Through October 1998

FOR IMMEDIATE RELEASE

May 1, 1998

The Bureau of the Public Debt announced today the rate for Series EE savings bonds issued on or after May 1, 1997.

SERIES EE SAVINGS BOND RATE: 5.06%

The 5.06 percent Series EE savings bond rate is in effect for bonds issued on or after May 1, 1997, that enter semiannual earnings periods from May through October 1998. The rate is 90 percent of the average 5-year Treasury securities yields for the preceding six months. A new interest rate is announced effective each May 1 and November 1. A 3-month interest penalty is applied to these bonds if redeemed before five years. New Series EE bonds increase in value monthly. The bond's interest rate is compounded semiannually.

SERIES EE BONDS ISSUED BEFORE MAY 1997

The 4.47 percent Short-Term Series EE savings bond rate is in effect for bonds issued from May 1995 through April 1997 for bonds that enter semiannual earnings periods from May through October 1998. See the Earnings Report for earnings on Series EE bonds issued from January 1980.

MATURED SERIES E SAVINGS BONDS AND SAVINGS NOTES

Series E savings bonds and Savings Notes continue to reach final maturity and stop earning interest. Bonds issued from May 1941 through April 1958, along with those issued from December 1965 through April 1968, have stopped earning interest. Savings Notes, issued from May 1967 through April 1968, have stopped earning interest. Bonds and Notes with issue dates shown here will reach final maturity in the next six months.

Bond/Note Issue Dates Bonds/Notes Stop Earning Interest
May 1958 through October 1958 May 1998 through October 1998
May 1968 through October 1968 May 1998 through October 1998

MORE INFORMATION

The latest United States Savings Bonds/Notes Earnings Report and other useful information about savings bonds is available at Public Debt's Internet Home Page (www.publicdebt.treas.gov). Download the Savings Bond Wizard (an easy-to-use program that lets you keep track of your savings bonds and value your portfolio). The Earnings Report shows actual yields for Series EE bonds. The Earnings Report, which contains rate and yield information for Series E&EE bonds and Savings Notes, is also available by mail from Public Debt. Send a postcard asking for “Earnings Report” to Bureau of the Public Debt, 200 Third Street, Parkersburg, WV 26106-1328.