Savings Notes/Freedom Shares (SN/FS) were a type of promotion sold in conjunction with Series E Savings bonds. Savings Notes/Freedom Shares were issued from May 1967- October 1970. The purchase price was discounted by 81%, meaning a $100 face value Savings Notes/Freedom Shares was purchased for $81.00.
Savings Notes/Freedom Shares were a type of incentive to increase the sales of U.S. Treasury savings securities while encouraging individuals to save more money for their future. Originally, the Savings Notes/Freedom Shares maturity term totaled 4½ years.
When individuals choose to redeem their Savings Notes/Freedom Shares, they must report the income on their tax paperwork. The Savings Notes/Freedom Shares can be converted to cash at a financial institution or Federal Reserve Bank.
President Lyndon B. Johnson introduced the Savings Notes/Freedom Shares February 21, 1967. The notes were introduced as a way to fund the escalating costs of the Vietnam War. Lyndon relied on the patriotism of the US citizens to fund the cause.