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FEDERAL
OF
RESERVE
NEW
BANK
YORK
Fiscal Agent of the United States
Circular No. 7927
J u ly 29,
1976
TREASURY ANNOUNCES AUGUST REFUNDING
To AH Banking Institutions, and Others Concerned,
in the Second Federal Reserve District
1 he fo llo w in g s ta te m e n t w as issu ed July 28 by th e T re a s u ry D e p a rtm e n t:
The T reasury will raise about $2,500 m illion of new cash and refund $4,542 m illion of securities m aturing
August 15. 1976, by issuing $2,000 million of 3-year notes, $4,000 million of 10-year notes, and $1,000 million of
25-year bonds,
The $4,042 m illion of m aturing securities to be refunded in the general
investors G overnm ent accounts and Federal Reserve Banks, for their own
m atu rin g securities th at may be refunded by issuing additional am ounts
am ounts of the 3-year notes and the bonds m ay also be issued, for new cash
agents lor foreign and international m onetary authorities.
offering are those held by private
accounts, hold $3,446 million o f
of the new securities. A dditional
only, to Federal Reserve Banks as
Attei the close of the subscription period and based prim arily upon the level of subscriptions accom panied
by th e 20% deposit, the Secretary expressly reserves the right to increase the am ount of the offering o f 10-year
notes. It is not expected that the am ount o f the increase would be substantially in excess o f $2 billion.
P rin te d o n th e rev erse sid e is a ta b le s u m m a riz in g th e h ig h lig h ts of th e o ffe rin g . C o p ies o f th e official
o ffe rin g c ir c u la r s w ill be fu rn is h e d u p o n re q u e s t.
B id d e rs s u b m ittin g n o n c o m p e titiv e te n d e rs fo r th e se c u ritie s th a t will be sold a t a u c tio n sh o u ld realize
th a t it is p o ssib le th a t th e a v e ra g e p ric e m ay be ab ove p a r, in w hich case th e y w o u ld h av e to p a y m o re th a n
th e face v a lu e for th e s e c u ritie s.
W ith re s p e c t to th e 10-year n o te s, s u b s c rip tio n s to r $ 5 0 0 ,0 0 0 o r less for e a c h s u b s c rib e r (th ro u g h all
so u rc e s) will be a llo tte d in full p ro v id e d 20% of th e face v alu e of th e se c u ritie s for e a c h s u b s c rib e r is
s u b m itte d as a d e p o s it (in c a s h , c h e c k , e lig ib le m a tu r in g se c u ritie s, o r by c h a rg e to reserv e a c c o u n t w here
a p p lic a b le ). S u c h d e p o s its m u s t b e s u b m itte d to th is B a n k o r its B u ffalo B ra n c h w ith th e su b s c rip tio n ,
even if th e s u b s c r ip tio n is fo r th e a c c o u n t o f a c o m m e rc ia l b a n k o r s e c u ritie s d e a le r, or fo r on e o f th e ir
c u s to m e rs . S u b s c rip tio n s n o t a c c o m p a n ie d by th e 20% d e p o s it will be received su b je c t to a p e rc e n ta g e
a llo tm e n t re g a rd le s s o f th e size o f th e s u b s c rip tio n ; on su ch s u b s c rip tio n s a 5% d e p o s it will be re q u ire d
fro m all s u b s c rib e rs e x c e p t th o se sp e c ifie d in In s tru c tio n No. 3 on th e s u b s c rip tio n fo rm . C o m m e rc ia l
b a n k s a n d s e c u ritie s d e a le rs a u th o riz e d to e n te r s u b s c rip tio n s fo r c u s to m e rs will be re q u ire d to certify th a t
th ey h a v e receiv ed th e 5% d e p o s it fro m th e ir c u s to m e rs o r g u a ra n te e p a y m e n t o f th e d e p o sit. S e p a ra te
s u b s c rip tio n fo rm s m u s t b e s u b m itte d fo r s u b s c rip tio n s th a t a re a c c o m p a n ie d by a 20% d e p o s it a n d for
s u b s c rip tio n s th a t a re s u b je c t to a 5% d e p o s it, a n d in fo rm a tio n as to th e ty p e of s u b s c rip tio n m u st be
in d ic a te d in th e a p p r o p r ia te p la c e on th e fo rm .
P A U L A. V O L C K E R ,
P r e s id e n t.
V#;
,
The subscription books will be open until 5 p.m., Wednesday August 4,1976.
PRIVACY ACT STATEMENT — 1 he individually identifiable information required on this form is necessary to permit the subscription to be processed and the securities to be issued.
Ir registered securities are requested, the regulations governing United States securities (Department Circular No. 300) and the offering circular require submission of social security
numbers; the numbers and other information are used in inscribing the securities and establishing and servicing the ownership and interest records. The transaction will not be
completed unless all required data is furnished.
form
cs
SUBSCRIPTION — SUBJECT TO ALLOTMENT
For United States of America 8 Percent Treasury Notes of Series B-1986
Dated August 16,1976, Due August 15,1986
Dated at ...............................................
F e d e r a l R e s e r v e B a n k o f N e w Yo r k ,
Fiscal Agent of the United States,
New York, N. Y. 10045
...................................................... , 19..
The undersigned hereby subscribes at par for United States of America 8 percent Treasury Notes of
Series B-1986 in the amount indicated below, and agrees to make payment therefor at your Bank on or
before the issue date.
P lease c h e c k one b o x b e lo w :
□ This subscription accompanied by 20% deposit
□ This subscription subject to 5% deposit and/or
exempt from deposit
Total Subscription $ .............................
We Hereby Certify that all parties hereto (including customers of the undersigned) have agreed not to purchase or to
sell, or to make any agreements with respect to the purchase or sale or other disposition of any notes of this issue at a specific
rate or price, until after midnight, August 4, 1976.
Subject to allotment, please issue, deliver, and accept payment for the securities as indicated below and on the reverse
side (if registered securities are desired, please also complete schedule on reverse side):
Pieces
Denomination
$
Maturity value
□ 1. Deliver over the counter to the
undersigned
□ 2. Ship to the undersigned
O 3- Hold in safekeeping (for member
bank only) in —
□ Investment Account
□ General Account
Q Trust Account
O 4. Hold as collateral for Treasury
Tax and Loan Account*
1,000
5,000
10,000
100,000
1,000,000
Payment will be made as follows:
□ By charge to our reserve account
□ By cash or check in immediately
available funds
Q By surrender of maturing
securities
u
° peciai instructions.
(No changes in delivery instructions
will be accepted)
Totals
* The undersigned certifies that the allotted securities will be owned solely by the undersigned.
(If a commercial bank or dealer is subscribing for its own account or for account of customers, the following
certifications are made a part of this tender.)
W e Hereby Certify that we have received subscriptions form our customers in the amounts set forth opposite the
customers’ names on the list which is made a part of this subscription, and that we have either received and are holding for
the Treasury or we guarantee payment to the Treasury of the 5 percent deposit stipulated in the official offering circular. ( In
those cases where subscribers — including commercial banks or dealers subscribing for their own account — submit a deposit
of 20 percent or more, such deposits must be submitted to the Federal Reserve Bank or Branch with the subscription.)
W e Further Certify that subscriptions received by us, if any, from other commercial banks for their own account
and for the account of their customers have been entered with us under the same conditions, agreements, and certifications
as set forth in this form.
(Name of subscriber — please print or type)
(Address — incl. City and State)
(Tel. No.)
(Authorized signature and Title)
The amount subscribed for is to be allocated as follows:
For own account ......................................................................................................................
For our customers, shown on attached rider (for use of commercial banks and dealers)
$
$
INSTRUCTIONS:
1. No subscription for less than $1,000 will be considered; and each subscription must be for a multiple of $1,000
(maturity value).
2. Only banking institutions, and dealers who make primary markets in Government securities and report daily to this
Bank their positions with respect to Government securities and borrowings thereon, may submit subscriptions for customer
account. Others will not be permitted to submit subscriptions except for their own account.
3. Subscriptions will be received without deposit from commercial and other banks for their own account, federallyinsured savings and loan associations, States, political subdivisions or instrumentalities thereof, public pension and retirement
and other public funds, international organizations in which the United States holds membership, foreign central banks
and foreign States, dealers who make primary markets in Government securities and report daily to the Federal Reserve Bank
of New York their positions with respect to Government securities and borrowings thereon, and Government accounts.
Subscriptions from others must be accompanied by payment of 5 percent of the face amount of the securities applied for.
Subscriptions for $500,000 or less for each subscriber (through all sources) will be allotted in full provided that 20% of
the face value of the securities is submitted as a deposit; all other subscriptions will be received subject to a percentage
allotment. Separate forms must be submitted for subscriptions accompanied by a 20% deposit.
4. Payment must be completed by August 16, 1976. If payment is by check drawn on a bank in this District, it must be
received by August 11, 1976; checks drawn on a bank in another District must be received by August 9, 1976. All checks must
be drawn to the order of the Federal Reserve Bank of New York; checks endorsed to this Bank will not be accepted.
5. If the language of this subscription is changed in any respect that, in the opinion of the Secretary of the Treasury,
is material, the subscription may be disregarded.
[Enc. Cir. No. 7927]
http://fraser.stlouisfed.org/„■■ • W )
Federal Reserve Bank of St. Louis
(OVER)
m
;
„ *>- — -yv--
•
IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Friday, August 6, 1976.
T E N D E R FOR TREASURY BO NDS O F 1996-2001
Dated
August 16,1976
Due August 15, 2001
F ederal Reserve Bank
of N ew York,
Fiscal of the United States,
D a te d at
N ew York, N. Y. 10045
? 29
.........................................................
T h e u n d ersig n ed h ereb y offers to p u rchase U nited States of A m erica T reasury Bonds of 1996-2001 in
the am o u n t in d ic a te d below , an d agrees to m ake p ay m en t th erefor a t your Bank on or before th e issue date
at th e p rice aw a rd e d on this tender.
COMPETITIVE TENDER
Do not fill in both competitive and
Noncompetitive tenders on one form
3
(m a tu rity valu e)
or any lesser am o u n t th a t m ay be aw arded.
NONCOMPETITIVE TENDER
*
(m a tu rity v alu e)
(Not to exceed $500,000 for one bidder through all sources)
Yield:
at the average price of accep ted com petitive bids.
(Yield must be expressed with not more than two
decimal places, for example, 7.11)
S ubject to allotm ent, p lease issue, deliver, an d accep t pay m en t for the securities as in d icated below and
on th e reverse side ( if r e g i s t e r e d securities are desired, please also com plete schedule on reverse s id e ) :
P ie c e s
D e n o m in a tio n
$
M a tu r ity v a lu e
1 ,0 0 0
5 ,0 0 0
O
□
□
3. H o ld in sa fe k e e p in g ( fo r m e m b e r
b a n k o n l y ) in —
□
□
1 0 0 ,0 0 0
O
T o ta ls
□
□
0 In v e s tm e n t A c c o u n t
n G e n e ra l A c c o u n t
1 0 ,0 0 0
1 ,0 0 0 ,0 0 0
P a y m e n t w ill b e m a d e as fo llo w s:
1. D e liv e r o v e r th e c o u n te r to th e
u n d e r s ig n e d
2. S h ip to th e u n d e r s ig n e d
T ru st A ccount
O
B y c h a rg e to o u r re se rv e a c c o u n t
B y c a s h o r c h e c k in im m e d ia te ly
a v a ila b le fu n d s
B y s u r r e n d e r o f m a tu r in g
s e c u ritie s
5 - S p e c ia l in stru c tio n s.
4. H o ld as c o lla te ra l fo r T re a s u ry
T ax a n d L o a n A c c o u n t*
( N o c h a n g e s in d e liv e r y in stru ctio n s
w ill b e a c c e p te d )
The undersigned certifies that the allotted securities will be owned solely by the undersigned.
(If a commerieal bank or dealer is subscribing for its own account or for account of customers the following
certifications are made a part of this tender.)
W e H ereby C ertify th a t we have received tenders from our custom ers in the am ounts set forth opposite
th e customers nam es on the list w hich is m ade a p a rt of this ten d er, and th a t w e have eith er received and
are h o ld in g to r th e T reasu ry or w e g u aran tee pay m en t to the T reasury of deposits stip u lated in the official
offering circular.
^
W e F urther C ertify that tenders received by us, if any, from other commercial banks for their own
acco u n t and for th e acco u n t of th e ir custom ers have been en tered w ith us u n d er th e sam e conditions
agreements, and certifications as set forth in this form.
( N a m e of s u b s c r ib e r — p le as e p r in t or t y p e )
I n s e r t t h i s t e n d e r in
s p e c ia l e n v e lo p e m a r k e d
“T e n d e r fo r T re a su r y
N o te s o r B o n d s '
( A d d res s — incl. C it y a n d S t a t e )
( T e l . No. i
( S i g n a t u r e of s u b s c r ib e r or a u t h o r i z e d s i u n a t u r e )
( T i t l e of a u t h o r i z e d s in n e r )
Institutions submitting tenders for customer account must list customers’ names on lines below or on an attached rider
( N a m e of c u s t o m e r )
H -£_£ J2
U 'C = <
= =-r
< ~cS
Ef
ft*
v.
> r .. I~
5 7 -7
( N a m e of c u s t o m e r i
INSTRUCTIONS:
1.
No tende r for less than $1,000 will be considered; and each tender must be for a multiple of $1,000 ('maturity value b
Rl
° n!> Umking institutions, and dealers who make primary markets in Government securities and renort dail\ to this
Bank their positions with respect to Government securities and borrowings thereon, m u submit' tender" f(.r n ! m , ■ u on
3. Tenders will be received without deposit from commercial and other banks for their own account federallv-ins.m-,1
savings and loan associations. States political subdivisions or instrumentalities thereof, public pension and retirement ami other
public fund,, international organizations in which the United States holds membership, foreign central banks and for!agnSuites
dealers who make pumary markets in Government securities and report daily to the Federal Reserve Bank of New York their
positions with re,pect to Government securities and borrowings thereon, and Government accounts. Tenders from others must
be accompanied by payment of o percent of the face amount of the securities applied for.
4. Payment must be completed by August 16 1976. If payment is by check drawn on a bank in this District, it must
De received b> August II IJ76; checks drawn on a bank in another District must be received bv August 9, 1976. All checks
must be drawn to the order of the Federal Reserve Bank of New York; checks endorsed to this Bank wili not be accepted.
,
kmguage of this tender is changed in any respect that, in the opinion of the Secretary of the Treasury is
material, the tender may be disregarded.
'
[ E nc , Cir. No. 7 9 2 7 ]
(O V E R ,
FORM NA
IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Tuesday, August 3,1976.
TENDER FOR TREASURY NOTES OF SERIES J-1979
P R IV A C Y A C T S T A T E M E N T — T h e in d iv id u a lly id e n tifia b le in fo rm a tio n r e q u ir e d on th is fo rm is n e c e s s a ry to p e r m it th e s u b s c rip tio n to b e p ro c e s s e d a n d th e se c u ritie s to b e issu e d .
II legisterecs s e c u ritie s a re r e q u e s te d , she r e g u la tio n s g o v e rn in g U n ite d S ta te s s e c u ritie s ( D e p a r t m e n t C ir c u la r N o . 3 0 0 ) a n d t h e o ffe rin g c ir c u la r r e q u ir e su b m issio n o f so c ial s e c u rity
n u m b e rs ; th e n u m b e rs a n d o th e r in f o r m a tio n a re u se d in in s c r ib in g th e s e c u ritie s a n d e s ta b lis h in g a n d se rv ic in g th e o w n e rs h ip a n d in te re s t re c o rd s . T h e tra n s a c tio n w ill n o t b e
c o m p le te d u n le s s a ll r e q u ir e d d a ta is f u r n is h e d .
Dated August 16,1976
Due August 15,1979
Dated at ....................................................
F ed er al R eserve B a n k o f N e w Y ork ,
Fiscal Agent of the United States,
New \ork, N.Y. 10045
............................................................,1 9
The undersigned hereby offers to purchase United States of America Treasury Notes of Series J-1979 in
the amount indicated below, and agrees to make payment therefor at your Bank on or before the issue date
at the price awarded on this tender.
COMPETITIVE TENDER
Do not fill in both competitive and
Noncompetitive tenders on one form
$ ........................................................ ( maturity value)
or any lesser amount that may be awarded.
Yield: ..........
NONCOMPETITIVE TENDER
$
(m a tu r ity v a lu e )
(Not to exceed $500,000 for one bidder through all sources)
a t th e a v e r a g e p r ic e o f a c c e p te d c o m p e titiv e b id s.
(Yield must be expressed with not more than two
decimal places, for example, 7.11)
Subject to allotment, please issue, deliver, and accept payment for the securities as indicated below and
on the reverse side (if r e g i s t e r e d securities are desired, please also complete schedule on reverse side):
P ie c e s
D e n o m in a tio n
M a tu r ity v a lu e
O
□
$
5 ,0 0 0
□
1 0 ,0 0 0
1 0 0 ,0 0 0
0
1 ,0 0 0 ,0 0 0
1. D e liv e r o v e r t h e c o u n te r to th e
u n d e r s ig n e d
2. S h ip to th e u n d e r s ig n e d
3. H o ld in s a fe k e e p in g ( fo r m e m b e r
b a n k o n ly ) in —
Q I n v e s tm e n t A c c o u n t
O G e n era l A cco u n t
LJ h u m /v cv u u iu
4 . H o ld a s c o lla te ra l f o r T re a s u ry
T a x a n d L o a n A c c o u n t*
P a y m e n t w ill b e m a d e a s fo llo w s:
Q
0
B y c h a rg e to o u r re s e rv e a c c o u n t
B y c a s h o r c h e c k in immediately
0
B y s u r r e n d e r o f m a tu r in g
s e c u ritie s
LJ
o p e c ia i in s tru c tio n s .
available funds
( No changes in delivery instructions
will be accepted)
T o ta ls
• T h e u n d e r s ig n e d c ertifie s t h a t th e a llo tte d s e c u ritie s w ill b e o w n e d so le ly b y t h e u n d e r s ig n e d .
( I f a c o m m e rc ia l b a n k o r d e a le r is s u b s c r ib in g fo r its o w n a c c o u n t o r fo r a c c o u n t o f c u s to m e rs , th e fo llo w in g
c e rtific a tio n s a r e m a d e a p a r t o f th is t e n d e r . )
W e H er eby C e r t if y th a t w e h a v e r e o e iv e d te n d e r s fr o m o u r c u sto m e r s in th e a m o u n ts s e t fo r th o p p o s ite
th e c u sto m e r s’ n a m e s o n th e lis t w h ic h is m a d e a p a r t o f th is te n d e r , a n d th a t w e h a v e e ith e r r e c e iv e d a n d
are h o ld in g fo r th e T r e a su r y or w e g u a r a n te e p a y m e n t to t h e T r e a su r y o f d e p o s its s t ip u la te d in th e officia l
o ffe r in g circu la r.
W e F u r th er C e r t ify th a t te n d e r s r e c e iv e d b y u s, if a n y , fro m o th e r c o m m e r c ia l b a n k s fo r th e ir o w n
a c c o u n t a n d fo r th e a c c o u n t o f th e ir c u sto m e r s h a v e b e e n e n te r e d w ith u s u n d e r th e s a m e c o n d itio n s,
a g r e e m e n ts, a n d c e r tific a tio n s as s e t fo r th in th is form .
(Name of subscriber — please print or type)
Insert this tender in
special envelope marked
“Tender for Treasury
Notes or Bonds”
( Address — incl. City and State)
(Tel. No.)
(Signature of subscriber or authorized signature)
(Title of authorized signer)
( I n s titu tio n s s u b m ittin g te n d e rs fo r c u s to m e r a c c o u n t m u s t lis t c u s to m e rs ’ n a m e s o n lin e s b e lo w o r o n a n a tt a c h e d r i d e r )
(Name of customer)
(Name of customer)
INSTRUCTIONS:
1.
N o te n d e r fo r less th a n $ 5 ,0 0 0 w ill b e c o n s id e re d ; a n d e a c h te n d e r m u s t b e fo r a m u ltip le o f $ 5 ,0 0 0 ( m a t u r i ty v a lu e ) .
2
O n ly b a n k in g in s titu tio n s , a n d d e a le rs w h o m a k e p r im a r y m a rk e ts in G o v e rn m e n t s e c u ritie s a n d r e p o r t d a ily to th is
B a n k th e ir p o sitio n s w ith r e s p e c t to G o v e rn m e n t s e c u ritie s a n d b o rro w in g s th e re o n , m a y s u b m it te n d e r s fo r c u s to m e r a c c o u n t;
in d o in g so, 'h e y m a y c o n s o lid a te c o m p e titiv e te n d e rs at the same yield a n d m a y c o n s o lid a te n o n c o m p e titiv e te n d e rs , p r o v id e d
a list is a tta c h e d s h o w in g th e n a m e o f e a c h b id d e r a n d th e a m o u n t b id fo r h is a c c o u n t. O th e rs w ill n o t b e p e r m itte d ti > s u b m it
te n d e rs e x c e p t fo r th e i r o w n a c c o u n t.
3. T e n d e r s w ill b e re c e iv e d w ith o u t d e p o s it fro m c o m m e rc ia l a n d o th e r b a n k s fo r t h e ir o w n a c c o u n t, fe d e ra lly -in s u re d
sav ings a n d lo an a sso c ia tio n s, S ta te s, p o litic a l s u b d iv isio n s o r in s tr u m e n ta litie s th e re o f, p u b lic p e n s io n a n d r e tir e m e n t a n d o th e r
p u b lic fu n d s , in te r n a tio n a l o rg a n iz a tio n s in w h ic h th e U n ite d S ta te s h o ld s m e m b e rs h ip , fo re ig n c e n tra l b a n k s a n d fo re ig n S ta te s
d e a le rs w h o m a k e p r im a r y m a rk e ts in G o v e rn m e n t se c u ritie s a n d r e p o r t d a ily to th e F e d e r a l R e se rv e B a n k o f N e w Y ork th e ir
p o sitio n s w ith r e s p e c t to G o v e rn m e n t s e c u ritie s a n d b o rro w in g th e re o n , a n d G o v e r n m e n t a c c o u n ts . T e n d e r s fro m o th e rs m u s t
b e a c c o m p a n ie d b y p a y m e n t o f 5 p e r c e n t o f th e fa c e a m o u n t o f th e se c u ritie s a p p lie d for.
4. P a y m e n t m u s t b e c o m p le te d b y \ u g u s t 16, 1976. I f p a y m e n t is b y c h e c k d r a w n o r a b a n k in th is Distri< t it m u st
b e re c e iv e d b y A u g u s t 11, 1 9 76; c h e c k s d r a w n o n a b a n k in m o th e r D is tric t m u s t b e re c e iv e d b y A u g u s t 9 1976. All c h ec k s
m u s t b e d r a w n to th e o r d e r o f th e F e d e r a l R e se rv e B a n k o f N e w Y ork; c h e c k s e n d o r s e d to th is B a n k w ill n o t b e a c c e p te d .
5. I f th e la n g u a g e o f th is te n d e r is c h a n g e d in a n y re s p e c t th a t, in th e o p in io n o f th e S e c re ta ry o f th e T re a s u ry , is
m a te ria l, t h e t e n d e r m a y b e d is r e g a r d e d .
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