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Redeeming Certificate of Accrual on Treasury Securities

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slr1
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Redeeming Certificate of Accrual on Treasury Securities  Reply with quote  

Can someone please tell me how to redeem a Certificate of Accural on Treasury Securities? I have contacted my local bank, Treasury Direct, several federal reserve banks, and the Treasury Dept. Each telephone call simply refers me to someone else. I've had this Certificate in my possession for many years, and it matured last year. Certainly there must be some way to redeem it. Any information in this regard would be appreciated. Thanks.
Post Sat Dec 18, 2004 2:07 pm
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bizwizzle
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Try this link and see if it gives you an answer  Reply with quote  

Hi,

One of the things that I enjoy most with helping people is finding information online.

Try this link, it has a lot of questions and answers and it looks like it may give you the directions on how to redeem what you are trying to do.

http://www.treasurydirect.gov/rs/TDHelp/faq.html
Post Sun Dec 19, 2004 3:39 am
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slr1
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Redeeming Certificate of Accural on Treasuy Securities  Reply with quote  

Thanks, Judy. Unfortunately, I checked the Treasurydirect website, reviewed the information, and called them four times. Each time, I was given different telephone numbers to call. Treasurydirect does not redeem the certificates and does not seem to know how to do so. I really can't believe this is so difficult. Any other suggestions??
Post Sun Dec 19, 2004 1:45 pm
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Carl
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Hi: I'm having the same problem, my Mom purchased a CATS for my son and I am pulling my hair out trying to get it cashed. I am trying to go through my finacial investment company. They want to charge a nominal fee, yet they have not sent me the necessary paper work to get this done.

I have done the web search thing for Morgan Trust who was the original issuer of the certificate, but alas they have had their assets purchased by some other company and are long gone.

Should I find something that works I'll post it here.

Carl
Post Wed Dec 29, 2004 1:16 am
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slr1
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One of the many phone calls I made was to the Treasury Department. They told me that CATS had been issued by Salomon Brothers, and I would have to contact them directly. Salomon Brothers is now, apparently, part of Smith Barney. I left a message with someone in their Chicago office but received no call back.

Morgan Trust, from what I understand, is JP Morgan. JP Morgan, I believe, merged with Chase, who merged with Bank One - so Bank One was one of my first contacts. Their investment banker carefully reviewed the certificate, made a few telephone calls, but could not figure out how to redeem it.

I'm learning more about mergers, buy-outs, and investment firms than I ever wanted to know - everything but how to redeem this damned Treasury Certificate! Please post if you learn anything more.
Post Wed Dec 29, 2004 5:55 pm
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xboxundone
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quote:
Originally posted by slr1
One of the many phone calls I made was to the Treasury Department. They told me that CATS had been issued by Salomon Brothers, and I would have to contact them directly. Salomon Brothers is now, apparently, part of Smith Barney. I left a message with someone in their Chicago office but received no call back.

Morgan Trust, from what I understand, is JP Morgan. JP Morgan, I believe, merged with Chase, who merged with Bank One - so Bank One was one of my first contacts. Their investment banker carefully reviewed the certificate, made a few telephone calls, but could not figure out how to redeem it.

I'm learning more about mergers, buy-outs, and investment firms than I ever wanted to know - everything but how to redeem this damned Treasury Certificate! Please post if you learn anything more.


Man i bet when these things were originally purchased they were bending over backwards to take oyur money Wink sorry to hear you are having so much trouble to redeem them.

Post Wed Dec 29, 2004 7:31 pm
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Carl
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I have been suscessful!

My CATS is held with US Bank Corporate Trust Services the phone number to check on other bonds that they hold is 800 - 934 - 6802.

Unfortunately you must go through automatic answering push button HELL, but when you can push a button press 4 then either 1 to enter your bond Cusip # or 2 after pushing 2 press the * key and wait for a live person.

If your bond is a TIGER one that phone number to verify is 800 - 275 - 2048.

There is not a redemption fee for my CATS bond
Post Thu Dec 30, 2004 8:50 pm
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gpdawg64
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Redemption - CATS  Reply with quote  

Try US BANK - Morgan Guaranty was my original custodian - but the merger process ended with US Bank. I was able to tell this from the annual year end tax statement. Here is the url http://www.usbank.com/commercial_business/products_and_services/corp_trust/bondholder_info_ps.html

Good Luck Cool
Post Fri Dec 31, 2004 5:53 pm
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marotta
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Re: Redeeming Certificate of Accrual on Treasury Securities  Reply with quote  

quote:
Originally posted by slr1
Can someone please tell me how to redeem a Certificate of Accural on Treasury Securities?.


It can make your investing easier to get an account when they will automatically be redeemed for cash at the maturity date.

David John Marotta
Marotta Asset Management, Inc.
Fee-only Financial Planning
http://www.emarotta.com
Post Sat Jan 01, 2005 12:02 am
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younggreenanne
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CATS - how to redeem???  Reply with quote  

Has anyone has luck with this?

I have a Certificate of Accrual on Treasury Securities from 1984 that reached maturity last October, and I have no idea what to do - and neither does my bank! It was issued by Morgan Guaranty, so I've contacted JPMorganChaseBankOne, Treasury Dept., and Federal Reserve, with no luck.

Has ANYONE had luck with redeeming these? Any opinions on what my next step should be?

Thanks so much!

--Anne in Dallas, TX
Post Thu Feb 24, 2005 5:28 am
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twoyaks
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Cats how to redeem  Reply with quote  

Finally after a year of trying to reddem my CATS I found a way. Look at you CUSIP number on the bond (http://www.cusip.com/) its the ID # of the bond . Mine was issued by Morgan Trust. The redeeming agent is First Chicago,
Hope this helps.
Post Wed Mar 30, 2005 12:59 pm
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younggreenanne
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Success: I have my money! (... and here's how I did it)  Reply with quote  

US Bank's Corporate Trust Services handled it for me with no service charges and they seemed very efficient.

Their phone number is 1.800.934.6802 and they said they handle these all the time.

Once I confirmed details with them over the phone, all I had to do was send the original certificate via REGISTERED, insured mail with Return Receipt Requested to their office in St. Paul. MN. (That cost about $12.00.)

Registered mail is kept under lock and key in transit, so you definitely want to send it that way; this is essentially the same as mailing cash.

I had my check for the full face value six days later. Good luck to anyone else who's trying to find out how get their money. I hope I just saved you some time and frustration!
Post Wed Mar 30, 2005 5:47 pm
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brekke8
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My Morgan Trust Cats bond has a maturity date of 2004, however the interest due date is 2012 at 13 1/4% interest. Will I continue to accrue interest if I hold the bond till 2012
Post Sat Mar 01, 2008 4:22 pm
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