'Simple Rate' - Sample Rate Reducer
A very simple Sample Rate Reducer or "Bitcrusher" design, similar to Colin Raffel's 'Analog Bitcrusher' but without the elusive J-FET. Much like that design, you'll get some bleedthrough from the carrier signal. You should be able to reduce it slightly by placing 10uf and 100nf caps across the 4016 power pins.
A more complex build featuring an envelope detector to cut out the carrier bleedthrough:
Read more about how the circuit works in my 'Sample rate Reducers & Unusual Ring Mods' write up in the DIY section.