Full text of Federal Reserve Bank of New York Circulars : 8206. Treasury Announces November Quarterly Financing

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F E D E R A L R E S E R V E BANK
O F NEW YO R K

Fiscal Agent of the United States

[

Circular No. 8206
October 24, 1977

TREASURY ANNOUNCES NOVEMBER QUARTERLY FINANCING
To A ll B a n k in g In stitu tion s, a n d O th ers C oncerned,
in th e S eco n d F ed era l R eserve D istrict:

The following statem ent was issued by the Treasury D epartm ent regarding its November quarterly
financing:
The Treasury will raise about $4,100 million of new cash and refund $2,389 million of securities maturing
November 15, 1977, by issuing $3,250 million of 3-year notes, $2,000 million of 10-year notes, and $1,250 million
of 30-year bonds.
The $2,389 million of maturing securities to be refunded in the general offering are those held by the
public. Government accounts and Federal Reserve Banks, for their own accounts, hold $1,241 million of
maturing securities that may be refunded by issuing additional amounts of new securities. Additional amounts
of the notes and the bonds may also be issued, for new cash only, to Federal Reserve Banks as agents for foreign
and international monetary authorities.
Printed on the reverse side is a table summarizing the highlights of the offering. Copies of the official
offering circulars will be furnished upon request directed to our Government Bond Division (Tel. No.
212-791-6356).
Bidders subm itting noncompetitive tenders should realize that it is possible that the average price may
be above par, in which case they would have to pay more than the face value for the securities.
If payment is made by check, the check should be a certified personal check or an official bank check,
payable on its face to the Federal Reserve Bank of New York; checks endorsed to this Bank will not be
accepted.
Enclosed are copies of the forms to be used in submitting tenders. If there is any doubt that tenders
sent by mail will reach this Bank or its Branch on time, bidders should use other means of transm itting
their tenders.
A recorded message (at the Head Office — Tel. No. 212-791-5823; at the Buffalo Branch — Tel. No.
716-849-5046) provides information about this and other Treasury offerings; additional inquiries regarding
this offering may be made by calling, at the Head Office, Tel. No. 212-791-6619 or 212-791-5465, or, at the
Buffalo Branch, Tel. No. 716-849-5016.

PAUL A. VOLCKER,
President.

(Over)

HIGHLIGHTS OF TREASURY
OFFERINGS TO THE PUBLIC
NOVEMBER 1977 FINANCING
TO BE ISSUED NOVEMBER 15,1977

10-Year Notes

30-Year Bonds

$2,000 m
illion

$1,250 m
illion

Term and type of security............... . .3-year notes

10-year notes

30-year bonds

Series and CUS1P designation....... . .Series J-1980
(CUSIP No. 912827 HD7)

Series A-1987
(CUSIP No. 912827 HE5)

Bonds of 2002-2007
(CUSIP No. 912810 BZ0)

M
aturity date................................. . .November 15, 1980

November 15, 1987

November 15, 2007

Call date........................................ . .No provision

No provision

November 15, 2002

Interest coupon rate...................... . .To be determined, based on the
average of accepted bids

To be determined, based on the
average of accepted bids

Investm yield............................. . .To be determined at auction
ent

To be determined at auction

Prem
ium or discount...................... . .To be determined after auction

To be determined after auction

Interest payment dates.................. .. May 15 and November 15

May 15 and November 15

Minimum denomination available. . . . $5,000

$1,000

Method of sale.................................. . Yield auction

Yield auction

Accrued interest payable by investor . .None

None

Preferred allotment......................... . Noncompetitive bid for
$1,000,000 or less

Noncompetitive bid for
$1,000,000 or less

Deposit requirement........................ . 5% of face amount

5% of face amount

Deposit guarantee by designated
institutions................................... . Acceptable

Acceptable

Deadline for receipt of tenders......... .Friday, October 28, 1977
by 1:30 p.m., EDST

Tuesday, November 1, 1977
by 1:30 p.m., EST

Wednesday, November 2, 1977
by 1:30 p.m., EST

Settlem date (final payment due)
ent
a) cash or Federal funds ............. .Tuesday, November 15, 1977

Tuesday, November 15, 1977

b) check drawn on bank w
ithin
FRB district w
here submitted . . .Thursday, November 10, 1977

Thursday, November 10, 1977

c) check drawn on bank outside
FRB district w
here submitted .. .Wednesday, November 9, 1977

Wednesday, November 9, 1977

Tuesday, November 15, 1977

Monday, November 21, 1977

Amount Offered:

3-Year Notes

illion
To the public................................. . .$3,250 m

Description of Security:

Terms of Sale:

Key Dates:

Delivery date for coupon securities ..

. Tuesday, November 15, 1977

UNITED STATES OF AMERICA
TREASURY NOTES OF NOVEMBER 15, 1980
SERIES J-198U
DEPARTMENT CIRCULAR
Public Debt Series - No. 25-77
1.
1.

DEPARTMENT OF THE TREASURY,
OFFICE OF THE SECRETARY,
Washington, October 25, 1977.

INVITATION FOR TENDERS

The Secretary of the Treasury, under the authority of

the Second Liberty Bond Act, as amended, invites tenders for
approximately $3,250,000,000 of United States securities,
designated Treasury Notes of November 15, 1980, Series J-1980
(CUSIP No. 912827 HD 7).

The securities will be sold at auction

with bidding on the basis of yield.

Payment will be required at

the price equivalent of the bid yield of each accepted tender.

The

interest rate on the securities and the price equivalent of each
accepted bid will be determined in the manner described below.
Additional amounts of these securities may be issued to Government
accounts and Federal Reserve Banks for their own account in
exchange for maturing Treasury securities.

Additional amounts may

also be issued for cash to Federal Reserve Banks as agents of
foreign and international monetary authorities.
2.
2.

DESCRIPTION OF SECURITIES

The securities will be dated November 15, 1977, and

will bear interest from that date, payable on a semiannual basis on
May 15, 1978, and each subsequent

until the principal becomes payable.

months on November 15 and May 15
They will mature November 15,

1980, and will not be subject to call for redemption prior to
matur ity.
2.

The income derived from the securities is subject

to all taxes imposed under the Internal Revenue Code of 1954.
The securities are subject to estate, inheritance, gift or other
excise taxes, whether Federal or State, but are exempt from all
taxation now or hereafter imposed on the principal or interest
thereof by any State, any possession of the United States, or
any local taxing authority.
2.

Tne securities will be acceptable to secure deposits

of public monies.

They will not be acceptable in payment of taxes.

-22.

Bearer securities with interest coupons attached,

ana securities registered as to principal and interest, will be
issued in denominations of $5,000, $10,000, $100,000, and
$1,000,000.

Book-entry securities will be available to eligible

biaders in multiples of those amounts.

Interchanges of securities

of different denominations and of coupon, registered and book-entry
securities, and the transfer of registered securities will be
permitted.
2.

The Department of the Treasury's general regulations

governing United States securities apply to the securities offered
in this circular.

These general regulations include those currently

in effect, as well as those that may be issued at a later date.
3.
3.

SALE PROCEDURES

Tenders will be received at Federal Reserve Banks and

Branches and at the Bureau of the Public Debt, Washington, D. C.
20226, up to 1:30 p.m., Eastern Daylight Saving time, Friday,
October 28,

1311,

Noncompetitive tenders as defined below will be

considered timely if postmarked no later than Thursday, October 27, 19
3.

bid for.

Each tender must state the face amount of securities

The minimum bid is $5,000 and larger bids must be in

multiples of that amount.

Competitive tenders must also show the

yield desired, expressed in terms of an annual yield with two
decimals, e.g., 7.11%.

Common fractions may not be used.

Noncompetitive tenders must show the term "noncompetitive" on the
tender form in lieu of a specified yield.

No bidder may submit

more than one noncompetitive tender and the amount may not exceed
$1, 000, 000.

All bidders must certify that they have not made' and

will not make any agreements for the sale or purchase of any
securities of this issue prior to the deadline established in
Section 3.1. for receipt of tenders. Those authorized to submit
tenders for the account of customers will be required to certify
that such tenders are submitted under the same conditions,
agreements, and certifications as tenders submitted directly by
bidders for their own account.
3.

Commercial banks, which for this purpose are defined

as banks accepting demand deposits, and primary dealers, which for
this purpose are defined as dealers who make primary markets in

f
- 3 -

Government securities and report aaily to the Federal Reserve Bank
of New York their positions in ana borrowings on such securities,
may submit tenders for account of customers if the names of the
customers and the amount for each customer are furnished.

Others

are only permitted to submit tenders for their own account.
3.

Tenaers will be received without deposit for their own

account from commercial banks and other banking institutions;
primary dealers, as defined above; Federally-insured savings and
loan associations; States, and their political subdivisions or
instrumentalities; public pension ana retirement and other public
funds; international organizations in which the United States holds
membership; foreign central banks and foreign states; Federal
Reserve Banks; and Government accounts.

Tenders from others must

be accompanied by a deposit of 5% of the face amount of securities
appliea for (in the form of cash, maturing Treasury securities or
readily collectible checks), or by a guarantee of such deposit by a
commercial bank or a primary aealer.
3.

Immediately after the closing hour, tenders will

be opened, followed by a public announcement of the amount and
yield range of acceptea bids.

Subject to the reservations

expressed in Section 4, noncompetitive tenders will be accepted
in full at the weighted average price (in three decimals) of
accepted competitive tenders, ana competitive tenders with the
lowest yields will be accepted to the extent required to attain
the amount offered.

Tenders at the highest accepted yield will

be prorated if necessary.

After the determination is made as to

which tenders are accepted, a coupon rate will be established,
on the basis of a

1/8

of one percent increment, which results in

an equivalent average acceptea price close to

100.000

and a

lowest accepted price above the original issue discount limit of
99.250.

That rate of interest will be paid on all of the

securities.

Based on such interest rate, the price on each

competitive tender allotted will be determined and each
successful competitive bidder will be required to pay the price
equivalent to the yield bid.

Price calculations will be carried

to three decimal places on the basis of price per hundred, e.g.,
99.923, and the determinations of the Secretary of the Treasury
shall oe final. If the amount of noncompetitive tenders received

-4 would absorb all or most of the offering, competitive tenders
will be accepted in an amount sufficient to provide a fair
determination of the yield.

Tenders received from Government

accounts and Federal Reserve Banks will be accepted at the
weighted average price of accepted competitive tenders.
3.

Competitive bidders will be advised of the acceptance

or rejection of their tenders.

Those submitting noncompetitive

tenders will only be notified it the tender is not accepted in
full or when the price is over par.
4.
4.

RESERVATIONS

The Secretary of the Treasury expressly reserves the

right to accept or reject any or all tenders in whole or in part,
to allot more or less than the amount of securities specified in
Section 1, and to make different percentage allotments to various
classes of applicants when the Secretary considers it in the public
interest.
5.

The Secretary's action under this Section is final.
5. PAYMENT AND DELIVERY
1.

Settlement for allotted securities must be made or

completed on or before Tuesday, November 15, 1977, at the Federal
Reserve Bank or Branch or at the Bureau of the Public Debt,
wherever tne tender was submitted.

Payment must be in cash; in

other funds immediately available to the Treasury; in Treasury
bills, notes or bonds (with all coupons detached) maturing on or
before the settlement date but which are not overdue as defined in
the general regulations governing United States securities; or by
check drawn to the order of the institution to which the tender
was submitted, which must be received at such institution no >later
•
than:
(a) Thursday, November 10, 1977, if the check is drawn on a
bank in the Federal Reserve District of the institution to
which the check is submitted (the Fifth Federal Reserve
District in case of the Bureau of the Public Debt), or
(b) Wednesday, November 9, 1977, if the check is drawn on a
bank in another Federal Reserve District.
Checks received after the dates set forth in the preceding
sentence will not be accepted unless they are payable at the
applicable Federal Reserve Bank.

Payment will not be considered

complete where registered securities are requested if the

appropriate identifying number as required on tax returns and
other documents submitted to the Internal Revenue Service (an
individual's social security number or an employer identification
number) is not furnished.

When payment is maoe in securities, a

cash adjustment will be maoe to or required of the bidder for any
difference between the face amount of securities presented and tne
amount payable on the securities allotted.
b.

In every case where full payment is not completed on

time, the deposit submitted with the tender, up to 5 percent of the
face amount of securities allotted, shall, at the discretion of the
Secretary of the Treasury, be forfeited to the United States.
b.

Registered securities tendered as deposits and in

payment for allotted securities are not required to be assigned
if the new securities are to be registered in the same names and
forms as appear in the registrations or assignments of the
securities surrendered.

When the new securities are to be

registered in names and forms different from those in the
inscriptions or assignments of the securities presented, the
assignment should be to "The Secretary of the Treasury for
(securities offered by this circular) in the name of (name and
taxpayer identifying number)."

If new securities in coupon form

are desired, the assignment should be to "The Secretary of the
Treasury for coupon (securities offered by this circular) to be
delivered to (name and address)."

Specific instructions for the

issuance and delivery of the new securities, signed by the owner
or authorized representative, must accompany the securities
presented. Securities tendered in payment should be surrenaered
to the Federal Reserve Bank or Branch or to the Bureau of the
Public Debt, Washington, D. C. 20226. The securities must be
delivered at the expense and risk of the holder.
5.

If bearer securities are not reaay for delivery on

the settlement date, purchasers may elect to receive interim
certificates. These certificates shall be issued in bearer form
and shall be exchangeable for definitive securities of this
issue, when such securities are available, at any Federal Reserve
Bank or Branch or at the Bureau of the Public Debt, Washington,
D. C. 20226.

The interim certificates must be returned at the risk

and expense of the holder.

- 6

Delivery of securities in registered form will be

made after the requested form of registration has been validated,
the registered interest account has been established, and the
securities have been inscribed.
6
6

GENERAL PROVISIONS

As fiscal agents of the United States, Federal Reserve

Banks are authorized and requested to receive tenders, to make
allotments as directed oy the Secretary of the Treasury, to issue
such notices as may be necessary, to receive payment for and make
delivery of securities on full-paid allotments, and to issue
interim certificates pending delivery of the definitive
secur ities.
6

The Secretary of the Treasury may at any time issue

supplemental or amendatory rules and regulations governing the
offering.

Public announcement of such changes will be promptly

provided.

David Mosso,
Fiscal Assistant Secretary.

UNITED STATES OP AMERICA
TREASURY NOTES OF NOVEMBER IS, 1987
SERIES A-1987
DEPARTMENT CIRCULAR
Public Debt Series - No. 2b-77

1.
1.

DEPARTMENT OF THE TREASURY,
OFFICE OF THE SECRETARY,
Washington, October 25, 1977.

INVITATION FOR TENDERS

The Secretary of the Treasury, under the authority

of the Second Liberty Bona Act, as amended, invites tenders for
approximately $2,000,000,000 of Uniteo States securities, designated
Treasury Notes of November 15, 1987, Series A-1987 (CUSIP No.
912827 HE 5).

The securities will be sold at auction with bidding

on the basis of yield.

Payment will be required at the price

equivalent of the bid yield of each accepted tender.

The interest

rate on the securities and the price equivalent of each accepted bid
will be determined in the manner described below.

Additional

amounts of these securities may be issued to Government accounts and
Federal Reserve Banks for their own account in exchange for maturing
Treasury securities.

Additional amounts may also be issued for cash

to Federal Reserve Banks as agents of foreign and international
monetary authorities.
2.
2.

DESCRIPTION OF SECURITIES

The securities will be dated November 15, 1977, and

will bear interest from that date, payable on a semiannual basis on
May 15, 1978, and each subsequent

until the principal becomes payable.

months on November 15 and May 15
They will mature November 15,

1987, ana will not be subject to call for redemption prior to
natur ity.
2.

The income derived from the securities is subject

- 2 -

The securities will be acceptable to secure

deposits of public monies.
payment of taxes.
2.

They will not be acceptable in

Bearer securities with interest coupons attached,

and securities registered as to principal and interest, will be
issued in denominations of $1,000, $5,000, $10,000, $100,000,
and $1,000,000.

Book-entry securities will be available to

eligiole bidders in multiples of those amounts.

Interchanges of

securities of different denominations and of coupon, registered
and book-entry securities, and the transfer of registered
securities will be permitted.
2.

The Department of the Treasury's general

regulations governing United States securities apply to the
securities offered in this circular.

These general regulations

include those currently in effect, as well as those that may be
issued at a later date.
3.
3.

SALE PROCEDURES

Tenders will be received at Federal Reserve Banks

and Branches and at the Bureau of the Public Debt, Washington,
D. C. 20226, up to 1:30 p.m., Eastern Standard time, Tuesday,
November 1, 1977.

Noncompetitive tenders as defined below will

be considered timely if postmarked no later'than Monday, October
31, 1977.
3.

Each tender must state the face amount of

securities bid for.

The minimum bid is $1,000 and larger bids

must be in multiples of that amount.

Competitive tenders must

also show the yield desired, expressed in terms of an annual
yield with two decimals, e.g., 7.11%.
be used.

Common fractions may not

Noncompetitive tenders must show the term

"noncompetitive" on the tender form in lieu of a specified
yield.

No bidder may submit more than one noncompetitive tender

and the amount may not exceed $l,0 0 0 ,G0 u.
3.

All bidders must certify that they have not made

and will not make any agreements for the sale or purchase of any
securities of this issue prior to the deadline established in
Section 3.1. for receipt of tenders.

Those authorized to submit

tenders for the account of customers will he required to certify

- 3 -

tiiat such tenders are submitted under the same conditions, agree
ments, ana certifications as tenders submitted directly by
bidders tor their own account.
3.

Commercial banks, which for this purpose are

defined as banks accepting demand deposits, and primary dealers,
which for this purpose are defined as dealers who make primary
markets in Government securities and report daily to the Federal
Reserve Bank of New York their positions in and borrowings on
such securities, may submit tenders for account of customers if
the names of the customers and the amount for each customer are
furnished.

Others are only permitted to submit tenders for their

own account.
3.

Tenders will be received without deposit for their

own account from commercial banks and other banking institutions;
primary dealers, as defined above; Federally-insured savings and
loan associations; States, and their political subdivisions or
instrumentalities; public pension and retirement and other public
funds; international organizations in which the United States
holds membership; foreign central banks and foreign states;
Federal Reserve Banks; and Government accounts.

Tenders from

others must be accompanied by a deposit of 5% of the face amount
of securities applied for (in the form of cash, maturing Treasury
securities or readily collectible checks), or by a guarantee of
such deposit by a commercial bank or a primary dealer.
3.

Immediately after the closing hour, tenders will be

opened, followed by a public announcement of the amount and
yield range of accepted bids.

Subject to the reservations

expressed in Section 4, noncompetitive tenders will be accepted
in full at the weighted average price (in three decimals) of
accepted competitive tenders, and competitive tenders with the
lowest yields will be accepted to the extent required to attain
the amount offered.

Tenders at the highest accepted yield will

be prorated if necessary.

After the determination is made as to

which tenders are accepted, a coupon rate will be established,
on the basis of a

1/8

of one percent increment, which results in

an equivalent average accepted price close to

1 0 0 .( 0 0
J

and a

lowest accepted price above the original issue discount limit of

497.500.
That rate of interest will be paid on all of the
securities. Based on such interest rate, the price on each
competitive tender allotted will be determined and each
successful competitive bidder will be required to pay the price
equivalent to the yield bid.

Price calculations will oe carried

to three decimal places on the basis of price per hundred, e.g.,
99.923,

and the determinations of the Secretary of the Treasury

shall be final. If the amount of noncompetitive tenders received
would absorb all or most of the offering, competitive tenders
will be accepted in an amount sufficient to provide a fair
determination of the yield.

Tenders received from Government

accounts and Federal Reserve Banks will be accepted at the
weighted average price of accepted competitive tenders.
3.

Competitive bidders will be advised of the acceptance

or rejection of their tenders.

Those submitting noncompetitive

tenders will only be notified if the tender is not accepted in
full or when the price is over par.
4.
4.

RESERVATIONS

The Secretary of the Treasury expressly reserves

the right to accept or reject any or all tenders in whole or in
part, to allot more or less than the amount of securities speci
fied in Section 1, and to make different percentage allotments
to various classes of applicants when the Secretary considers it
in the public interest.

The Secretary's action under this

Section is final.
5.
5.

PAYMENT AND DELIVERY

Settlement for allotted securities must be made or

completed on or before November 15, 1977, at the Federal Reserve
Bank or Branch or at the Bureau of the Public Debt, wherever the
tender was submitted.

Payment must oe in cash; in other funds

immediately available to the Treasury; in Treasury bills, notes
or bonds (with all coupons detached) maturing on or before the
settlement date but which are not overdue as defined in the
general regulations governing United States securities; or by
check drawn to the order of the institution to which the tender
was submitted, which must be received at such institution no

(a) Thursday, November 10, 1977, if the check is arawn on a
bank in the Federal Reserve District of the institution
to which the check is submitted (the Fifth Federal
Reserve District in case of the Bureau of the Public
Debt), or
(b) Wednesday, November 9, 1977, if the check is drawn on a
bank in another Federal Reserve District.
Checks received after the dates set forth in the preceding
sentence will not be accepted unless they are payable at the
applicable Federal Reserve Bank.

Payment will not be considered

complete where registered securities are requested if the
appropriate identifying number as required on tax returns and
other documents submitted to the Internal Revenue Service (an
individual's social security number or an employer
identification number) is not furnished.

When payment is made

in securities, a cash adjustment will be made to or required of
the bidder for any difference between the face amount of
securities presented and the amount payable on the securities
allotted.
5.

In every case where full payment is not completed

on time, the deposit submitted with the tender, up to 5 percent
of the face amount of securities allotted, shall, at the
discretion of the Secretary of the Treasury, be forfeited to the
United States.
5.

Registered securities tendered as deposits and in

When the new securities are to be

registered in names and forms different from those in the
inscriptions or assignments of the securities presented, the
assignment should oe to "Tne Secretary of the Treasury for
(securities offered by this circular) in the name of (name and
taxpayer identifying number)."

If new securities in coupon form

are desired, the assignment should be to "The Secretary of the
Treasury for coupon (securities offeree by this circular) to be
delivered to (name and address)."

Specific instructions for the

- 6

issaance and delivery of the new securities, signed by the owner
or authorized representative, must accompany the securities
presented.

Securities tendered in payment should be surrendered

to tne Federal Reserve Bank or Branch or to the Bureau of the
Public Debt, Washington, D . C. 20226.

The securities must be

delivered at the expense and risk of the holder.
5.

If bearer securities are not ready for delivery on

the settlement date, purchasers may elect to receive interim
certificates.

These certificates shall be issued in bearer form

and shall be exchangeable for definitive securities of this
issue, when such securities are available, at any Federal
Reserve Bank or Branch or at the Bureau of the Public Debt,
Washington, D. C. 20226. The interim certificates must be
returned at the risk and expense of the holder.
5.

Delivery of securities in registered form will be

made after the requested form of registration has been validated,
the registered interest account has been established, and the
securities have been inscribed.
6
6

GENERAL PROVISIONS

As fiscal agents of the United States, Federal

Reserve Banks are authorized and requested to receive tenders,
to make allotments as directed by the Secretary of the Treasury,
to issue such notices as may be necessary, to receive payment
for and make delivery of securities on full-paid allotments, and
to issue interim certificates pending delivery of the definitive
securities.
6

The Secretary of the Treasury may at any time issue

supplemental or amendatory rules and regulations governing the
offering.

Public announcement of such changes will be promptly

provided.

David Mosso,
Fiscal Assistant Secretary.

«
•

UNITED STATES OF AMERICA
TREASURY BONDS OF 20U2 - 2007
DEPARTMENT CIRCULAR
Public Debt Series - No. 27-77
1.
1.

DEPARTMENT OF THE TREASURY,
OFFICE OF THE SECRETARY,
Washington, October 2b, 1977.
INVITATION FOR TEMDSR3

The Secretary of the Treasury, under the authority

of the Second Liberty Bond Act, as amended, invites tenders for
approximately $1,250,000,U00 of United States securities,
designated Treasury Bonds of 2002-2007 (CUSIP No. 912010 BZ 0).
The securities will be sola at auction with bidding on the Dasis
of yield. Payment will be required at the price equivalent of
the bid yield of each accepted tender.

The interest rate on the

securities and the price equivalent of each accepted bid will be
determined in the manner described below.

Additional amounts of

these securities may be issued to Government accounts and
Federal Reserve Banks for their own account in exchange for
maturing Treasury securities.

Additional amounts rnay also be

issued for cash to Federal Reserve Banks as agents of foreign
and international monetary authorities.
2.
2.

DESCRIPTIOl OF SECURITIES
N

The securities will be dated November 15, 1977, and

will bear interest from that date, payable on a semiannual basis
on May 15, 1978, and each subsequent

months on November 15 and

May 15 until the principal becomes payable. They will mature on
November 15, 2007, but may be redeemed at the option of the
United States on and after November 15, 2002, in whole or in •
part, at par and accrued interest on any interest payment date
or dates, on 4 months' notice of call given in such manner as
the Secretary of the Treasury shall prescribe.

In case of

partial call, the securities to be redeemed will be determined
by such method as may be prescribed by the Secretary of the
Treasury.

Interest on the securities called for redemption

shall cease on the date of redemption specified in the notice of
call.

9
- 2 -

The income derived from the securities is subject

to all. taxes imposed under the Internal Revenue Code of 1^54.
The securities are subject to estate, inheritance, gift or other
excise taxes, whether Federal or State, but are exempt from all
taxation now or hereafter imposed on the principal or interest
thereof by any State, any possession of the United States, or
any local taxing authority.
2.

The securities will be acceptable to secure

deposits of public monies.

They will not be acceptable in

payment of taxes.
2.

Bearer securities with interest coupons attached,

and securities registered as to principal and interest, will be
issued in denominations of $ 1 ,0 0 0 , $5,000, $1 0 ,0 0 0 , $1 0 0 ,0 0 0 ,
and $1,000,000.

Book-entry securities will be available to

eligible bidders in multiples of those amounts.

Interchanges of

securities of different denominations and of coupon, registered
and book-entry securities, and the transfer of registered
securities will be permitted.
2.

The Department of the Treasury’s general

regulations governing United States securities apply to the
securities offered in this circular.

These general regulations

include those currently in effect, as well as those that may be
issued at a later date.
3.
3.

SALE PROCEDURES

Tenders will be received at Federal Reserve Banks

and Branches and at the Bureau of the Public Debt, Washington,
D. C. 20226, up to 1:30 p.m., Eastern Standard time, Wednesday,
November 2, 1977.

Noncompetitive tenders as defined below will

be considered timely if postmarked no later than Tuesday,
November 1, 1977.
3. 2. Each tender must state the face amount of
securities bid for. The minimum bid is $1,000 and larger bids
must be in multiples of that amount.

Competitive tenders must

also show the yield desired, expressed in terms of an annual
yield with two decimals, e.g., 7.11%.
be used.

Common fractions may not

Noncompetitive tenders must show the term

"noncoinpet.itiv^" on the tender form in lieu of a specified
yield. No bidder may submit more than one noncompetitive tender
and the amount may not exceed $1 ,0 0 0 ,0 0 0 .
3-

All bidders must certify that they have not made

and wiLl not make any agreements for the sale or purchase of any
securities of this issue prior to the deadline established in
Section 3.1. for receipt of tenders.

Those authorized to submit

tenders for the account of customers will be required to certify
that such tenders are submitted under the same conditions,
agreements, and certifications as tenders submitted directly by
bidders for their own account.
3.

Commercial banks, which for this purpose are defined

as banks accepting demand deposits, and primary dealers, which
for this purpose are defined as dealers who make primary markets
in Government securities and report daily to the Federal Reserve
Bank of New York their positions in and borrowings on such
securities, may submit tenders for account of customers if the
names of the customers and the amount for each customer are
furnished. Others are only permitted to submit tenders for
their own account.
3.

Tenders will be received without deposit for their

own account from commercial banks and other banking institutions;
primary dealers, as defined above; Federally-insured savings and
loan associations; States, arid their political subdivisions or
instrumentalities; public pension and retirement ana other
public funds; international organizations in which the United
States holds membership; foreign central banks and foreign states
Federal Reserve Banks; and Government accounts.

Tenders from

others must be accompanied by a deposit o£ 5% of the face amount
of securities applied for (in the form of cash, maturing Treasury
securities or readily collectible checks), or by a guarantee of
such deposit by a commercial bank or a primary dealer.
3.

Immediately after the closing hour, tenders will

be opened, followed by a public announcement of the amount ana
yield range of accepted bids.

Subject to the reservations

expressed in Section 4, noncompetitive tenders will be accepted

-4 in full at the weighted average price (in three decimals) of
accepted competitive tenders, and competitive tenders with the
lowest yields will be accepted to the extent required to attain
the amount offered-

Tenders at the highest accepted yield will

be prorated if necessary.

After the determination is made as to

which tenders are accepted, a coupon rate will be established,
on the basis of a 1/3 of one percent increment, which results in
an equivalent average accepted price close to

100.000

and a

lowest accepted price aoove the original issue discount limit of
92.500.

That rate of interest will be paid on all of the

securities.

Based on such interest rate, the price on each

competitive tender allotted will be determined and each
successful competitive bidder will be required to pay the price
equivalent to the yield bid.

Price calculations will be carried

to three decimal places on the basis of price per hundred, e.g.,
99.923,

and the determinations of the Secretary of the Treasury

Tenders received from Government

accounts and Federal Reserve Banks will be accepted at the
weighted average price of accepted competitive tenders.
3.

Competitive bidders will be advised of the acceptance

or rejection of their tenders.

Those submitting noncompetitive

tenders will only be notified if the tender is not accepted in
full or when the price is over par.
4.
4.

RESERVATIONS

The Secretary of the Treasury expressly reserves

the right to accept or reject any or all tenders in whole or in
part, to allot more or less than the amount of securities specified
in Section 1, and to make different percentage allotments to
various classes of applicants when the Secretary considers it in
the public interest.

The Secretary's action under this Section

is final.
5.
5.

PAYMENT AND DELIVERY

Settlement for allotted securities must be made or

completed on or before November 15, 1977, at the Federal Reserve
Bank or Branch or at the Bureau of the Public Debt, wherever the
tonaer was submitted.

Payment must be in cash; in other funas

immediately available to the Treasury; in Treasury bills, notes
or bonds (with all coupons detached) maturing on or before the
settlement aate but which are not overdue as defined in the
general regulations governing United States securities; or by
check arawn to the order of the institution to which the
tender was submitted, which must be received at such institution
no later than:
(a) Thursday, November 10, 1977, if the check is drawn on a
bank in the Federal Reserve District of the institution
to which the check is submitted (the Fifth Federal
Reserve District in case of the Bureau of the Public
Debt), or
(b) Wednesday, November 9, 1977, if the check is drawn on a
bank in another Federal Reserve District.
Checks received after the dates set forth in the preceding
sentence will not be accepted unless they are payable at the
applicable Federal Reserve Bank.

Payment will not be considered

When payment is made

in securities, a cash adjustment will be made to or required.of
the bidder for any difference between the face amount of
securities presented and the amount payable on the securities
allotted.
5.

In every case where full payment is not completed

Registered securities tendered as deposits and in

- 6 -

payrrient for allotted securities are not required to be assigned
if the new securities are to be registered in the same names and
forms as appear in the registrations or assignments of the
securities surrendered.

When the new securities are to be

registered in names ana forms different from those in the
inscriptions or assignments o£ the securities presented, the
assignment should be to "The Secretary of the Treasury for
(securities offered by this circular) in the name of (name and
taxpayer identifying number)."

If new securities in coupon form

are desired, the assignment should be to "The Secretary of the
Treasury for coupon (securities offered by this circular) to be
delivered to (name and address)."

Specific instructions for the

issuance and delivery of the new securities, signed by the owner
or authorized representative, must accompany the securities
presented.

Securities tendered in payment should be surrendered

to the Federal Reserve Bank or Branch or to the Bureau of the
Public Debt, Washington, D. C. 20226.

The securities must be

delivered at the expense and risk of the holder.
5.

If bearer securities are not ready for delivery on

the settlement date, purchasers may elect to receive interim
certificates.

These certificates shall be issued in bearer form

The interim certificates must be

returned at the risk and expense of the holder.
5.

Delivery of securities in registered form will be

made after the requested form of registration has been
valiaated, the registered interest account has been established,
and the securities have been inscribed.
6
6

GENERAL PROVISIONS

As fiscal agents of the United States, Federal

IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Friday, October 28, 1977

TENDER FOR TREASURY NOTES OF SERIES J-1980
PRIVACY ACT STATEMENT — The individually identifiable information required on this form is necessary to permit the subscription to be processed and the securities to be issued. If 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.

Dated November 15, 1977

Due November 15, 1980

Dated at

FEDERAL RESERVE BANK OF NEW YORK,
Fiscal Agent of the United States,
New York. N.Y. 10045

The undersigned hereby offers to purchase the above-described United States of America Treasury Notes of
Series J-1980 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.
Do not fill in both Competitive and
Noncompetitive tenders on one form

COMPETITIVE TENDER

$ ........................................................... (maturity value)
or any lesser amount that may be awarded.
Y ield:........

NONCOMPETITIVE TENDER

$ ........................................................... (maturity value)
(Not to exceed $1,000,000for one bidder through all sources)

at the average price of accepted competitive bids.

(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 registered securities are desired, please also complete schedule on reverse side):
Denomination

XXX

xxxxxx
$

Maturity value
XXX

XXX

5,000
10,000
100,000

XXX

|~1 1. Deliver over the counter to the
undersigned
| | 2. Ship to the undersigned
|
3 Hold in safekeeping (for member
bank only) in —
Investment Account
General Account

Payment will be made as follows:
] By charge to our reserve account
[| By cash or check in immediately
availablefunds
Q By surrender of maturing
securities

| | 4. Hold as collateral for Treasury Tax
and Loan Account *

Pieces

| .

1,000,000
□

Totals

Special instructions

Wire to........................................
(Exact Receiving Bank Wire Address/Account)

* 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.)

WE HEREBY CERTIFY that we have not made and will not make anv agreements for the sale or purchase of
any securities of this issue prior to 1:30 p.m., Friday, October 28, 1977.
WE FURTHER CERTIFY that we have received tenders from customers in the amounts set forth opposite their
names on the list which is made a part of this tender, and that we have received and are holding for the Treasury, or
that we guarantee payment to the Treasury, of the deposits stipulated in the official offering circular.
WE FURTHER CERTIFY that tenders received by us, if any, from other commercial banks or primary dealers for
their own account, and for the account of their customers, have been entered with us under the same conditions,
agreements, and certifications set forth in this form.
(Name of subscriber — please print or type)
Insert this tender in
special envelope marked
“ Tender fo r Treasury
Notes or Bonds”

(Address — incl. City and State)

(Tel. No.)

(Signature of subscriber or authorized signature)
(Title of authorized signer)

(Institutions submitting tenders for customer account must list customers’ names on lines below or on an attached rider)

(Name of customer)

INSTRUCTIONS:
1.

No tender for less than $5,000 will be considered; and each tender must be for a multiple of $5,000 (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 tenders for customer account; in doing so, they may
consolidate competitive tenders at the same yield and may consolidate noncompetitive tenders, provided a list is attached showing the name
of each bidder and the amount bid for his account. Others will not be permitted to submit tenders except for their own account.
3. Tenders will be received without deposit from commercial and other banks for their own account, federally-insured 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. Tenders from others must be accompanied by payment of 5
percent of the face amount of the securities applied for.
4. Payment must be completed by November 15, 1977. If payment is by check drawn on a bank in this District, it must be received by
November 10, 1977; checks drawn on a bank in another District must be received by November 9, 1977. 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 tender is changed in any respect that, in the opinion of the Secretary of the Treasury, is material, the tender
may be disregarded.

[Enc. Cir. No. 8206]

(OVER)

SUBSCRIPTION NO

SCHEDULE FOR ISSUE OF REGISTERED TREASURY NOTES OF SERIES J-1980
DELIVERY INSTRUCTIONS

PAYMENT INSTRUCTIONS

S U B S C R IB E R

□ DELIVER OVER THE COUNTER

□

S IG N A T U R E _

□

A D D R E S S ____

□ OTHER INSTRUCTIONS:

s h ip

TO SUBSCRIBER

FO R F R B USE O N LY

BY CHARGE TO OUR
RESERVE ACCOUNT
BY CASH OR CHECK IN

TRANS. A C C O U N TIN G DATE

IM M E D IA T E L Y A V A IL A B L E FUNDS

□

BY SURRENDER OF
MATURING SECURITIES

ZIP

R E G IS T R A T IO N

ISSUE AGENT 12
NOVEMBER 15, 1977
I NT E RES T C O M P . DA T E

NO. OF
PIECES

IN S T R U C T IO N S

DENOM.

AMOUNT

SERIAL NOS.
(LEAVE BLANK)

FOR FR B

USE ONLY

N A M E (S )
32

ID O R S.S.

5.000

10,000

NO.
38

Z IP

1 0 0 ,0 0 0

ADDRESS

1,000,000

TOTAL

TR. CASE NO.

N A M E (S )
32

5,000

10,000

ID O R S.S. N O .
38

Z IP

100,000

ADDRESS

1,000,000

TOTAL

TR . CASE NO.

N A M E (S )
32

ID O R S.S.

5,000

10,000

NO.
38

Z IP

100,000

ADDRESS

1,000,000

TOTAL

TR . CASE NO.

N AM E(S)
32

ID O R S.S.

Z IP

1 0 0 ,0 0 0

ADDRESS

10,000

NO.

5,000

1,000,000

TOTAL

TR . CASE NO.

N A M E (S )
32

5,000

10,000

I D O R S.S. N O .
38

Z IP

100,000

ADDRESS

1,000,000

TOTAL

LOAN CODE

TR . CASE NO.

1 1 0 -0 1

FORM NB

IMPORTANT— Closing time for receipt of this tender is 1:30 p.m., Tuesday, November 1, 1977
TENDER FOR TR EA SU R Y NOTES OF SERIES A-1987

Dated November 15, 1977

N
Y
,
Dated at
Fiscal Agent of the United States,
New York, N. Y. 10045
, 19....
The undersigned hereby offers to purchase the above-described United States of America Treasury Notes
of Series A-1987 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.
D o n o t fill in b o th C o m p e titiv e an d
COMPETITIVE TENDER
NONCOMPETITIVE TENDER
N o n c o m p e titiv c te n d e rs on one fo rm
F ed eral R eserve B a n k

+2 <v
'Vp
! 13 °
/
! XJS
5 a rz
E-2

•9

c/j
cS qj
C

Due November 15, 1987

ork

$........................................................... (maturity value)
or any lesser amount that may be awarded.
Yield: ....................

c
n

<vP O
<) <u jz:
/
to C
u u r-•
2 « co
9
y
iS is o->
<

( Y ie ld m u st be e x p r e s se d w ith n o t m o re than tw o
d e cim a l p la c e s , f o r e x a m p le , 7.11 )

$.......................................................... (maturity value)
( N o t to e x c e e d $1,000,000 fo r one b id d e r th ro u g h a ll so u rc e s)

at the average price of accepted competitive bids.

• u u
~

•h o-S
S-itt I

Pieces

Denomination

!— c

v
■£ g .zr
5 -!“

Maturity value

1,000
5,000
10,000

Totals

By surrender of maturing securities

I ! 6. Snecial instructions.
-

(I f 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
H
C
that we have not made and will not make any agreements for the sale or purchase of
any securities of this issue prior to 1 :30 p.m., Tuesday, November 1, 1977.
We F
C
that we have received tenders from customers in the amounts set forth opposite
their names on the list which is made a part of this tender, and that we have received and are holding for
the Treasury, or that we guarantee payment to the Treasury, of the deposits stipulated in the official offering
circular.
W
F
C
that tenders received by us, if any, from other commercial banks or primary
dealers for their own account, and for the account of their customers, have been entered with us under the same
conditions, agreements, and certifications set forth in this form.
e

05 flj

—c 5
>
rt o 3
3 ‘5
X ) rt

| g,«
lej
< 9’c
.cy-5 ^
h E
•o«2
£ tT-’g
^ « ujg
u; o - x - * O 3u.
h
b 3 to
™ c«
£ </} C/3 —
C#)
J2
<u«

a v a ila b le fu n d s

□

* The undersigned certifies that the allotted securities will be owned solely by the undersigned.

ereby

e r t if y

urther

Payment will be made as follow s:
□ By charge to our reserve account
□ By cash or check in im m e d ia te ly

□ 4. Hold as collateral for Treasury
Tax and Loan Account*
□ 5. W ire to..............................................................................................................................
(Exact Receiving Bank W ire Address/Account)

1,000,000

fcc «

1. Deliver over the counter to the
undersigned
□ 2. Ship to the undersigned
□ 3. Hold in safekeeping (for member
bank only) in—
□ Investment Account
(~ General Account
1
□ Trust Account

100,000

< 3 •«o u O
ft O >
ft U ft
.2 o>•=
cHE"
9
<3r sf
+
2 5T *
1£Q:=

□

•

urther

e r t if y

Insert this tender in
special envelope marked
“Tender for Treasury
Notes or Bonds”

(Name of subscriber—please print or type)
(Address—incl. City and State)

(Tel. No.)

(Signature of subscriber or authorized signature)
(Title of authorized signer)

(Institutions submitting tenders for customer account must list customers’ names on lines below or on an attached rider)

(Name of customer)

jUXI1
**

B ii:

< c, .h
^v 3

^ •- —
5 .2 £ tzi
#v bo *
up
V

»«*« 4 ; J D CiO

(Name of customer)

IN S T R U C T IO N S :
1.

No tender for less than $1,000 will be considered; and each tender must be for a multiple of $1,000 (maturity value).

>
Only banking institutions, and dealers who make primary markets in Government securities and report daily to this
Hank their positions with respect to Government securities and borrowings thereon, may submit tenders for customer account;
in doing so, they may consolidate competitive tenders a t th e sa m e y ie ld and may consolidate noncompetitive tenders, provided
a list is attached showing the name of each bidder and the amount bid for his account. Others will not be permitted to submit
tenders except for their own account.

3. Tenders will be received without deposit from commercial and other banks for their own account, federally-insured
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. Tenders from others must
be accompanied by payment of 5 percent of the face amount of the securities applied for.
4. Payment must be completed by November 15, 1977. If payment is by check drawn on a bank in this District, it must be
received by November 10, 1977; checks drawn on a bank in another District must be received by November 9, 1977. 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 tender is changed in any respect that, in the opinion of the Secretary of the Treasury, is material,
the tender may be disregarded.

[Enc. Cir. No. 8206]

(OVER)

SCHEDULE FOR ISSUE O F REGISTERED TREASURY NOTES O F SERIES A -1 9 8 7

SUBSCRIPTION NO
DELIVERY INSTRUCTIONS

«im«rniRFR

dCNATtiRF

SIGNATURE--------------------- --- ------------------------------------------------------------------------

Af*nor*c
ADDRESS— --------------------------------------------------- ------------ —

PAYMENT INSTRUCTIONS

DELIVER OVER THE COUNTER
SHIP TO SUBSCRIBER

□

(~1 BY CHARGE TO OUR
RESERVE ACCOUNT

□'

BY CASH OR CHECK

□

BY SURRENDER OF
MATURING SECURITIES

□ °™ ER INSTRUCT,ONS

------------------------------------------------

in IM M E D IA T E L Y

FO R F R B USE O N LY

TRANS. ACCOUNTING DATE

A V A IL A B L E F U N D S

ISSUE AGENT 12
November 15,1977

ZIP

IN T ER ES T C O M P

N O
O F
P CS
IE E

REGISTRATION INSTRUCTIONS
NAME(S)

DNM
E O

ADDRESS

10,000
100,000

42
ZIP
NAME(S)

1,000,000

TOTAL

5,000

NAME(S)

100,000

42
ZIP

10,000

ADDRESS

1,000,000

TOTAL

5,000

J iL

10,000

ZIP

100,000

ADDRESS

1,000,000

TOTAL

NAME(S)

10,000

100,000

42
ZIP

NAME(S)

1,000,000

99
30
32
34

10 OR S.S. NO.

TOTAL

10,000
100,000

42
ZIP

TR. CASE NO.

1,000
5,000

38
ADDRESS

TR. CASE NO.

1,000
5,000

34
ID OR S.S. NO.
ADDRESS

TR. CASE NO.

1.000

32
10 OR S.S. NO.

TR. CASE NO.

1,000

32
ID OR S.S. NO.

DATE

FOR FRB USE ONLY

5,000

ID OR S.S. NO.

SE IA N S
R L O
(LE V B N )
A E LA K

1,000

AMOUNT

1,000,000

TOTAL

TR. CASE NO.

LOAN CODE

110-01

FORM BA

IMPORTANT— Closing time lor receipt of this tender is 1 :3 0 p.m ., Wednesday, November 2, 1977

TENDER FOR 30-YE A R TR EA SU R Y BONDS OF 2002-2007
Due November 15, 2007

Dated November 15, 1977

P R IV A C Y A C T S T A T E M E N T — The individually identifiable information required on this form is necessary to permit the subscription to be processed and the securities to be issued,.
If 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.

F ederal R eserve B ank

Dated a t ........................................................

N ew Y ork,

Fiscal Agent of the United States,
New York, N.Y. 10045

19 ........

....................................................................................... ,

The undersigned hereby offers to purchase the above-described United States of America Treasury Bonds
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

$.......................................................... (maturity value)
(Not to exceed $1,000,000 for one bidder through

a ll s o u rc e s)

at the average price of accepted competitive bids.

(Yield must be expressed with not more than two
decimal places, for example„ 7.11)

Denominations
$

Maturity value

1,000
5,000
10,000
100,000

1,000,000
Totals

follows

Payment will be made as
:
□ 1. Deliver over the counter to the
undersigned
□ By charge to our reserve account
□ 2. Ship to the undersigned
□ By cash or check in im m e d ia te ly
□ 3. Hold in safekeeping (for member
a v a ila b le fu n d s
bank only) in—
□ By surrender of maturing
□ Investment Account
securities
□ General Account
□ Trust Account
□ 6. Special Instructions.
□ 4. Hold as collateral for Treasury
Tax and Loan Account*
□ 5. Wire to.....................................................................................................................
(Exact Receiving Bank Wire Address/Account)

* The undersigned certifies that the allotted securities will be owned solely by the undersigned.
(I f 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 H ereby Certify that we have not made and will not make any agreements for the sale or purchase
of any securities of this issue prior to 1 :30 p.m., Wednesday, November 2, 1977.
W
F urther Certify that we have received tenders from customers in the amounts set forth opposite
their names on the list which is made a part of this tender, and that we have received and are holding for the
Treasury, or that we guarantee payment to the Treasury, of the deposits stipulated in the official offering cir
cular.
W e F urther Certify that tenders received by us, if any, from other commercial banks or primary dealers
for their own account, and for the account of their customers, have been entered wT us under the same con
ith
ditions, agreements, and certifications set forth in this form.
e

Insert this tender in
special envelope marked
“Tender for Treasury
Notes or Bonds”

(Name of subscriber— please print or type)

(Address—inch City and State)

(Tel. No.)

(Signature of subscriber or authorized signature)

(Title of authorized signer)

(Institutions submitting tenders for customer account must list customers’ names on lines below or on an attached rider)

(Name of customer)

IN S T R U C T IO N S :
1.

No tender for less than $1,000 will be considered; and each tender 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 tenders for customer account;
in doing so, they may consolidate competitive tenders a t t h e s a m e y i e l d and may consolidate noncompetitive tenders, provided
a list is attached showing the name of each bidder and the amount bid for his account. Others will not be permitted to submit
tenders except for their own account.
3. Tenders will be received without deposit from commercial and other banks for their own account, federally-insured
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. Tenders from others must
be accompanied by payment of 5 percent of the face amount of the securities applied for.
4. Payment must be completed by November IS, 1977. If payment is by check drawn on a bank in this District, it must be
received by November 10, 1977; checks drawn on a bank in another District must be received by November 9, 1977. All checks
must be drawn to the order of the Federal Reserve Bank of New Y ork; checks endorsed to this Bank will not be accepted.
5. If the language 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.
[Enc. Cir. No. 8206]

(

o ver

)

SCHEDULE FOR TREASURY BONDS OF 2002-2007

SUBSCRIPTION NO
DELIVERY INSTRUCTIONS

PAYMENT INSTRUCTIONS

SUBSCRIBER.

□

DELIVER OVER THE COUNTER

□

S IG N A T U R E-

□

SHIP TO SUBSCRIBER

□

ADDRESS ___

OTHER INSTRUCTIONS

DNM
EO

J l.

100,000

TOTAL

5,000

100,000

NAME(S)

10,000

ZIP

1,000,000

TOTAL

100,000

42
ZIP

10,000

ADDRESS

1,000,000

TOTAL

NAME(S)

ZIP
NAME(S)

10,000
100,000

ADDRESS

1,000,000

30
32
34

ID OR S.S. NO.

TOTAL

10,000
100,000

42
ZIP

TR. CASE NO.

1,000
5,000

38
ADDRESS

TR. CASE NO.

1,000
5,000

ID OR S.S. NO.

TR. CASE NO.

5,000

•

1,000

32
ID OR S.S. NO.

TR CASE NO.

1,000

ADDRESS

FOR FRB USE ONLY

1,000,000

ID OR S.S. NO.

AMOUNT

SER L N S
IA O
(LEAVE BLA K
N)

10,000

NAME(S)

L O A N CODE

5,000

ZIP

ISSUE AGENT 12

1,000

ADDRESS

TRANS ACCOUNTING DATE
FUNDS

110-01
N O
O F
P ES
IEC

REGISTRATION INSTRUCTIONS

ID OR S.S. NO.

BY SURRENDER OF
MATURING SECURITIES

FOR FR B USE ONLY

November 15,1977

ZIP.

NAME(S)

□

BY CHARGE TO OUR
RESERVE ACCOUNT
BY CASH OR CHECK
IN IM M E D IA T E L Y A V A IL A B L E

1,000.000

TOTAL

TR. CASE NO.

Full text of Federal Reserve Bank of New York Circulars : 8206. Treasury Announces November Quarterly Financing

FRASER