The financing also includes a hybrid zero coupon and interest-bearing bond that converts in 2000 to 8.4 percent interest bearing bonds due in 2012.
The bond converts in 2001 into an 8.15 percent interest-bearing bond.
But their prices also move much more rapidly than interest-bearing bonds when interest rates change.
The issuance of social credit - "debt-free" money issued directly from the Treasury - rather than the sourcing of fresh money from a central bank in the form of interest-bearing bonds.
That office was charged with continuing the charitable works of the Church foundations, which it could conveniently do by selling its choice properties and investing the proceeds in interest-bearing public bonds.
Under the plan the government would accumulate a sufficient gold reserve over the next several years through the sale of interest-bearing bonds for gold, using the accumulated metal to redeem the greenback currency on January 1, 1879.
A $750 million issue of interest-bearing bonds due in 2001 is expected to carry an interest rate of 13 1/4 to 13 1/2 percent.
As investors shift money from stocks to interest-bearing bonds and Treasury securities, the demand for these investments has helped to drive down interest rates, including mortgage rates.
The sales of the three National Savings offerings initially touted in the campaign - two conventional interest-bearing bonds and so-called premium bonds - have increased sharply.
Instead of raising additional income taxes, the Government could issue interest-bearing bonds to people who would otherwise have to pay more income tax if Congress chose that option.