REDEMPTION EXCHANGE

Bonds of this series presented for exchange for 1 ½ % treasury notes must be duly executed assignments to “The Secretary of the Treasury” or exchange for the current series of EA or EO treasury notes to whom the notes are to be delivered (name and address etc). The notes will bear the April 1 or October 1 date next preceding the date of the bonds, duly assigned with supporting evidence, if necessary, are received by the Bureau or a Federal Reserve Bank or Branch. Interest accrues at the rate of 2.75 per cent on the bonds surrendered from the next preceding interest payment date to the date of exchange, will be credited, and interest at the rate of 1.5 per cent on the notes for the same period will be charged and the difference will be paid to the owner.