Ten-year Debentures are issued without coupons in maturity face values of $25.00,$100.00, and $500.00 and are sold at costs of $17.72, $70.89, and $354.46, respectively. Interest is accrued at approximately 3.5%. Early redemptions are made at a 1% uncompounded annual rate. Investors do not have the right of early redemption if the debenture is held for less than one year. Generally, the Fund limits a single subscriber to purchasing a total of $30,000 in Debentures. The sale of debentures is limited to individuals and not intended for institutional investments.
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