Patriot Bonds.According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Treasury News Release PO-854, a new series of EE Savings Bonds Savings bond A government bond issued in face value denominations from $50 to $10,000, with local and state tax-free interest and semiannually adjusted interest rates. savings bond A nonmarketable security issued by the U.S. have been designated as "Patriot Bonds Patriot Bond A specially inscribed Series EE savings bond issued by the U.S. Treasury beginning December 11, 2001, three months following the September 11 terrorist attacks, to call attention to the country's war effort. " after the Sept. 11,2001 terrorist attacks. The funds raised by the bonds will contribute to the Federal government's overall effort to fight global terrorism. Series EE savings bonds Series EE savings bond A U.S. Treasury obligation that pays a variable interest rate and is sold to investors in denominations as low as $50 at a 50% discount from face value. sold through financial institutions will be specially inscribed in·scribe tr.v. in·scribed, in·scrib·ing, in·scribes 1. a. To write, print, carve, or engrave (words or letters) on or in a surface. b. To mark or engrave (a surface) with words or letters. with the legend "Patriot Bond." The legend will also appear on Series EE bonds available at the Bureau of the Public Debt's Savings Bond Direct Website, www.publicdebt.treas.gov. Series EE savings bonds earn 90% of five-year Treasury securities yields. The rate in effect through April 2002 is 4.07%. The bonds sell at half face value and are available in denominations of $50, $75, $100, $200, $500, $1,000, $5,000 and $10,000. Series EE bonds increase in value monthly; interest is compounded semiannually. Interest is exempt from state and local income taxes. Federal tax can be deferred until the bond is redeemed; it stops earning interest at 30 years. Bonds can be redeemed anytime after six months (a three-month interest penalty applies to bonds redeemed before five years). |
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