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Savings notes are accrual-type, United States savings securities issued in conjunction with Series E bonds from May 1967 through October 1970. These notes are also called "Freedom Shares." They had an original maturity period of 4 years and 6 months and have a total interest-earning life span of 30 years. Like savings bonds, they are nontransferable. They were purchased on a discount basis at 81 percent of face value in denominations of $25, $50, $75, and $100.
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