Bearer Bonds

What is the difference between a bearer bond and a registered bond?

  • Bearer bonds have no registered owner(s); therefore Corporate Trust Services Operations is unable to identify who owns the bond at any given time. Coupons must be submitted to the paying agent in order to receive the interest payment.
  • Registered bonds have a registered owner and Corporate Trust Services Operations keeps a record of that ownership. Interest payments are automatically sent to the holder of record on every payment date.

How do I report a bearer coupon or certificate as lost?

As bearer bonds are not registered in the name of the holder, Corporate Trust Services Operations does not replace bearer coupons or bonds that have been lost or stolen. Bearer instruments are similar to cash and are deemed to be owned by anyone who has physical possession of the bond.

How can I get a replacement check?

Please contact a customer service representative at 1-800-344-5128 or email us at bondholdercommunications@wellsfargo.com to request a replacement check. We ask that you allow 10 days from mailing before requesting a replacement check. Replacement checks will be reissued to the same party and mailed to the same address.

How do I know if my bearer bond is called?

Corporate Trust Services Operations is unable to send a call notice to individual bearer bondholders. Notices for bearer bond calls are printed in a financial publication (e.g., Bond Buyer, Wall Street Journal) as specified in the bond indenture. It is the bearer bondholder’s responsibility to monitor those publications and submit the bonds for payment when called.

How do I redeem my bearer bond?

The maturity date is printed on the face of each bond. Bonds do not earn interest after the maturity or call date. You may submit the bond for payment up to thirty (30) days prior to the payment date. If the bond has matured or is called, Corporate Trust Services Operations requires the following for payment:

  • Since the bond is held in certificate form, you must submit the bond certificate(s) for redemption. We recommend you use a traceable mail method and insure the package for 2% of the current market value of the bond. Our physical address for traceable mail delivery is Wells Fargo Bank, N.A., Attn: Corporate Trust Services Operations, 600 South 4th Street, N9300-070, Minneapolis, MN 55479.
  • A W-9 (PDF) form or a W-8 BEN (PDF) form is required. A W-9 form is used to certify the social security number (SSN) or tax identification number (TIN) of a bondholder who is a United States citizen. Failure to certify SSN or TIN may subject the holder to federal tax withholding. A W8-BEN form is used to certify the foreign status of a bondholder who is a non-U.S. citizen. Failure to certify status may subject the holder to NRA tax withholding.
  • If the bond is called, all remaining coupons with maturity dates after the date of redemption must be submitted with the bearer bond in order to receive payment of the principal.

How do I redeem my coupons?

Bearer bond coupons can be presented to Corporate Trust Services Operations up to thirty (30) days prior to the coupon payment date. There is no need to sign the coupons as there is no registered owner of bond coupons. The coupons will be processed on payment date and funds will be sent to the presenter, unless written direction is submitted to pay another party.

Can I register my bearer bond?

Some bearer bonds can be exchanged from bearer form into registered form. To see if this is a possibility for your bearer bond, contact a Corporate Trust Services Operations customer service representative at 1-800-344-5128 or email us at bondholdercommunications@wellsfargo.com.

Where do I send my bearer bonds and/or coupons?

By mail or courier service
Wells Fargo Bank, N.A.
Attn: Corporate Trust Services Operations
MAC N9300-070
600 South Fourth Street
Minneapolis, MN 55479

By registered or certified mail
Wells Fargo, N.A.
Attn: Corporate Trust Services Operations
P.O. Box 1517
Minneapolis, MN 55480-1517