---
kind: "section"
citation: "31 C.F.R. § 351.32"
title: "31"
number: "351.32"
heading: "How are redemption values calculated for Series EE bonds with issue dates of May 1, 1997, through April 1, 2005?"
url: "https://uscodex.org/cfr/31/351.32"
---

# §351.32. How are redemption values calculated for Series EE bonds with issue dates of May 1, 1997, through April 1, 2005?

- (a) **Formula for redemption value.** We determine the redemption value of a bond for the accrual date (the first day of each month beginning with the fourth month from the issue date) in accordance with this section and the following formula:
- (b) **Value of bonds at original maturity—**
  - (1) **Definitive bond.** At original maturity, the redemption value of a definitive bond shall not be less than the face amount/denomination of the bond.
  - (2) **Book-entry bond.** At original maturity, the redemption value of a book-entry bond shall not be less than double the purchase price of the bond.

## Notes

### Authority

Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 3105.

### Source

Source: 68 FR 24796, May 8, 2003, unless otherwise noted.