§ 342.3 Extended terms and yields for outstanding notes.
(a) Extended maturity periods. The terms extended maturity period and second extended maturity period refer to the 10-year intervals after the original maturity dates during which owners may retain their savings notes and continue to earn interest thereon. The term third extended maturity period refers to the final interval of 5 years and 6 months during which owners may retain notes and continue to earn interest until final maturity, which occurs 30 years after issue date. No special action is required of owners to take advantage of any extension heretofore or herein granted. The following table describes the previous and final maturities of savings notes:
| Issue dates—1st day of | Previous maturities | Previous maturity dates—1st day of | |
|---|---|---|---|
| yrs. | mos. | ||
| May 1967–Oct. 1970 | 24 | 6 | Nov. 1991–Apr. 1995. |
| Issue dates—1st day of | Additional extended maturity period | Life of notes—yrs. | |
|---|---|---|---|
| yrs. | mos. | ||
| May 1967–Oct. 1970 | 5 | 6 | 30 |
| Issue dates—1st day of | Final maturity dates—1st day of |
|---|---|
| May 1967–Oct. 1970 | May 1997–Oct. 2000 |
(b) Guaranteed minimum investment yield—(1) General. Except as provided in paragraph (b)(2) of this section, the guaranteed minimum investment yields for outstanding savings notes are as follows:
(i) For savings notes in extended maturity periods prior to November 1, 1982, the guaranteed minimum investment yield was 8.5 percent per annum, compounded semiannually, effective for the period from the first semiannual interest accrual date on or after May 1, 1981, through their next extended maturity dates on or after November 1, 1982.
(ii) For savings notes that entered extended maturity periods during the period of November 1, 1982, through October 1, 1986, the guaranteed minimum investment yield was 7.5 percent per annum, compounded semiannually, for such periods, including notes that entered into an extended maturity period, as shown below: