Schwinn was a co-sponsor and donated custom Paramounts to the U.S. Olympic cycling teams beginning in 1956. I don't know what year the sponsorship stopped, but for sure it was after the Munich games in 1972.

Here are photos of Dave Chauner's Paramount used in Munich. Note the rounded stay treatment at the dropout which was typical. The chamfered style stay treatment on the OP's bike isn't typical.







Here's a '76 P14 showing the same rounded stay treatment.