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FEDERAL RESERVE BANK OF N E W YO R K Fiscal Agent of the United States r Circular No. 7 0 1 4 '1 U October 6, 1972 J Auction of $2 Billion of 2-Year 6 Percent Treasury Notes To A ll Banking Institutions, and Others Concerned, in the Second Federal Reserve D istrict: As announced in our Circular No. 7013, dated October 5, 1972, the Treasury will sell at auction, on Wednesday, October 11, under competitive and noncompetitive bidding, $2 billion of 6 percent Treasury Notes of Series E-1974, dated October 19, 1972, due September 30, 1974. The terms of the offering are set forth in Treasury Department Circular No. 10-72, Public Debt Series, dated October 6, 1972, a copy of which is printed below. This Bank will receive tenders up to 1:30 p.m., Eastern Daylight Saving time, Wednesday, October 11, 1972, at the Securities Department of its Head Office and at its Buffalo Branch, except that noncompetitive tenders mailed to this Bank or its Branch postmarked no later than Tuesday, October 10, will be considered timely. Please use the enclosed tender forms to submit tenders, and return them in the enclosed envelope marked “ Tender for Treasury Notes.” Tenders not requiring a deposit may be submitted by telegraph, subject to written confirmation; no tenders may be submitted by telephone. Settlement for accepted tenders may be made in cash or other immediately available funds, except that any qualified depositary may make settlement by credit m its Treasury Tax and Loan Account for notes allotted to it for itself and its customers. A lfred H a y es, President. UNITED STATES OF AMERICA 6 PERCENT TREASURY NOTES OF SERIES E-1974 D ated and b earin g in terest from O ctober 19, 1 9 7 2 D E P A R T M E N T C IR C U L A R Public D ebt Series — N o. 1 0 -7 2 D u e Sep tem b er 3 0 , 1 9 7 4 DEPARTMENT OF THE TREASURY, Office o f the Secretary, Washington, October 6, 1972. I. OFFERING OF NOTES 1. The Secretary of the Treasury, p ursuan t to the au th ority of the Second L iberty B ond A ct, as am ended, in vites tenders at a price not less than 99.76 percent of their face value for $2,000,000,000, or thereabouts, of notes of the U n ited States, d esignated 6 percent T reasury N otes of Series E-1974. Tenders w ill be re ceived up to 1 :30 p.m., E astern D ayligh t S avin g tim e, W ednesday, October 11, 1972. The notes w ill be issued under com petitive and noncom petitive bidding, as set forth in Section I I I hereof. II. DESCRIPTION OF NOTES 1. The notes w ill be dated October 19, 1972, and w ill bear interest from that date at the rate of 6 p er cent per annum , payable on a sem iannual basis on March 31 and Septem ber 30, 1973, and March 31 and Septem ber 30, 1974. They w ill m ature Septem ber 30, 1974, and w ill not be subject to call for redem ption prior to m aturity. 2. The incom e derived from the notes is su bject to all taxes im posed under the In tern al R evenue Code of 1954. The notes are subject to estate, inheritance, g ift or other excise taxes, w hether F ed eral or State, b u t are exem pt from all taxation now or h ereafter im posed on the p rin cip al or in terest thereof by any State, or any of the possessions of the U nited States, or by an y local ta x in g authority. 3. The notes w ill be acceptable to secure deposits of public m oneys. T hey w ill not be acceptable in p a y m ent of taxes. 4. Bearer notes w ith interest coupons attached, and notes registered as to p rin cip al and interest, w ill be issued in denom inations of $1,000, $5,000, $10,000, ( over) $100,000 and $1,000,000. P rovision w ill be m ade for the interchange o f notes of different denom inations an d o f coupon and registered notes, and for the tran s fe r o f registered notes, u nd er rules and regulations prescribed b y the S ecretary of the Treasury. shall be final. S u b ject to these reservations, noncom p etitiv e tenders for $200,000 or less w ithou t stated price from an y one bidder w ill be accepted in fu ll at the average p rice1 (in two decim als) o f accepted com p etitiv e tenders. 5. The notes w ill be su bject to the general regu la tio n s o f the D ep artm ent of the T reasury, now or here a fter prescribed, govern in g U n ited S tates notes. 4. A ll bidders are required to agree not to p u r chase or to sell, or to make any agreem ents w ith re spect to the purchase or sale or other d isposition of any notes of this issue at a specific rate or price, u n til after 1 :30 p.m ., E astern D a y lig h t S avin g time, W ednesday, October 11, 1972. III. TENDERS AND ALLOTMENTS 1. T enders w ill be received at F ed eral R eserve B anks and B ranches and at the Office of the Treasurer o f the U n ited States, W ash ington , D. C. 20220, up to the closing hour, 1 :30 p.m., E astern D a y lig h t S avin g tim e, W ednesday, October 11, 1972. E ach tender m ust state the face am ount of notes bid for, w hich m ust be $1,000 or a m ultip le thereof, and the price offered, ex cept that in the case of n oncom p etitive tenders the term “ n o n com p etitive” should be used in lieu of a price. In the case o f com petitive tenders, the price m ust be expressed on the basis of 100, w ith two decim als, e.g., 100.00. Tenders at a price less than 99.76 w ill not be accepted. F ractions m ay not be used. N oncom petitive tenders from an y one bidder m ay not exceed $200,000. I t is u rged that tenders be m ade on the p rin ted form s and forw arded in the special envelopes m arked “ Tender for Treasury N o te s” , w hich w ill be su pp lied b y F ed eral R eserve B anks on ap plication therefor. 2. Comm ercial banks, w hich for this purpose are defined as banks accep ting dem and deposits, m ay sub m it tenders for account of custom ers p rovided the nam es of the custom ers are set forth in such tenders. Others than com m ercial banks w ill not be p erm itted to subm it tenders except for their own account. Tenders w ill be received w ith ou t deposit from banking in stitu tions for their own account, F ed erally-in su red savin gs and loan associations, States, p olitical subdivisions or in stru m en talities thereof, public pension and retire m ent and other public fu n d s, in tern ation al organiza tion s in w hich the U n ited S tates holds m em bership, foreign central banks and foreign States, dealers who make prim ary m arkets in G overnm ent secu rities and report d aily to the F ed eral R eserve B ank of N ew Y ork their p ositions w ith resp ect to G overnm ent secu rities and borrow ings thereon, and G overnm ent accounts. T enders from others m ust be accom panied by p aym ent of 5 p ercen t of the face am ount of notes ap plied for. 3. Im m ediately after the closing hour tenders w ill be opened, fo llow in g w hich public announcem ent w ill be m ade by the D ep artm ent of the T reasury o f the am ount and price range of accepted bids. Those sub m ittin g ten ders w ill be advised of the acceptance or rejection thereof. In considering the acceptance of tenders, those at the h ighest prices w ill be accepted to the ex ten t required to attain the am ount offered. Tenders at the low est accepted price w ill be prorated if necessary. The S ecretary o f the T reasury exp ressly reserves the righ t to accept or reject an y or all tenders, in w hole or in part, and his action in any such respect i Average price may be at, or more or less than 100.00. 5. Comm ercial banks in su bm itting tenders w ill be required to certify that they have no beneficial in terest in an y of the tenders th ey enter for the account of their custom ers, and that their custom ers have no beneficial in terest in the b a n k s’ tenders for their own account. IV. PAYMENT 1. S ettlem en t for accepted tenders in accordance with the bids m ust be made or com pleted on or before October 19, 1972, at the F ed eral R eserve Bank or Branch or at the Office of the Treasurer of the U nited States, W ashington, D. C. 20220, in cash or other fu n d s im m ediately available by that date. P aym en t w ill not be deem ed to have been com pleted where reg istered notes are requested if the appropriate id en ti fy in g num ber as required on tax returns and other docum ents subm itted to the In tern al R evenue Service (an in d iv id u a l’s social secu rity num ber or an em ployer identification num ber) is not furnished. In every case w here fu ll paym ent is not com pleted, the p aym ent w ith the tender up to 5 percent o f the am ount o f notes allotted shall, upon declaration made by the Secretary of the T reasury in his discretion, be fo rfeited to the U n ited States. A n y qualified deposi tary w ill be perm itted to make settlem ent by credit in its T reasury Tax and Loan A ccoun t for notes allotted to it for itse lf and its customers. V. GENERAL PROVISIONS 1. A s fiscal agents of the U n ited States, F ed eral R eserve B anks are authorized and requested to receive tenders, to make such allotm ents as m ay be prescribed by the S ecretary o f the Treasury, to issue such notices as m ay be necessary, to receive paym ent for and make d elivery of notes on fu ll-p a id tenders allotted, and th ey m ay issue interim receipts p en din g d elivery of the definitive notes. 2. The S ecretary o f the T reasury m ay at an y tim e, or from tim e to tim e, prescribe supplem ental or am endatory rules and regulations governing the offer ing, w hich w ill be com m unicated p rom ptly to the F ed eral R eserve Banks. E D W IN S. C O H EN, Acting Secretary of the Treasury. FORM NA IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Wednesday, October 11,1972. TEN D ER FO R 6 PERC EN T TREASURY NOTES O F SERIES E-1974 Dated October 19,1972 Due September 30,1974 Dated at............................... F ed er a l R eserv e B a n k o f N e w Y o rk , F iscal A gen t o f the U n ited States, N e w York, N. Y. 10045 1972 Pursuant to the provisions of Treasury D ep artm ent Circular N o. 10-72, P ublic D e b t Series, dated O ctober 6, 1972, the u ndersigned h ereby offers to purchase U n ited States of A m erica 6 p ercen t Treasury N otes o f Series E-1974 in the am ount in dicated b elo w , and agrees to m ake paym ent therefor at your Bank on or b efore the issue date at the price in dicated below . COMPETITIVE TENDER Do not fill in both Competitive and Noncompetitive tenders on one form NONCOMPETITIVE TENDER $ ................................ ......................... ( m aturity v a lu e ), or any lesser am ount that m ay b e aw arded. $ .................................................... (maturity value) Price: ......................... per 100 (m inim um of 99.76). at the average price of accep ted com p etitive bids. (N ot to exceed $200,000 for one bidder through all sources) (Price must be expressed with not more than two decimal places, for example, 100 .00 ) Subject to allotm ent, p lease issue, deliver, and a ccep t paym ent for th e notes as in dicated b elo w (if registered notes are desired, p lease also com p lete sch ed u le on reverse sid e ): □ 1. □ 2 . Ship to the undersigned 5,000 □ 10,000 Pieces Denomination $ Maturity value 1,000 Payment will be made as follows: undersigned □ By charge to our account on your books 3. Hold in safekeeping (for ac count of member bank only)* □ By cash or check in immediately available funds on delivery □ 4. Hold as collateral for Treas ury Tax and Loan Account* □ □ 5. Special instructions: By credit in Treasury Tax and Loan Account (Please complete Advice of Deposit on reverse side) 100,000 1,000,000 (N o Totals w ill be accepted ) * The undersigned certifies that the allotted notes will be owned solely by the undersigned. W e hereby agree not to buy or to sell, or to make any agreements ivith respect to the purchase or sale or other disposition of any notes of this issue at a specific rate or price, until after one-thirty p.m., Eastern Daylight Saving time, Wednesday, October 11,1972. ( If a commercial bank is subscribing for its own account or for account of customers, the following certifications are made a part of this tender.) W e H e r e b y C e r t i f y that w e have received tenders from our custom ers in the am ounts set opposite the custom ers’ nam es on the list w h ich is m ade a part of this tender; that there has b een paid to us by each such custom er as required b y the official offering circular, not subject to w ithd raw al until after allotm ent, not less than 5 p ercen t of the am ount bid for; that w e have not m ade unsecured loans, or loans collateralized in w h ole or in part b y th e notes b id for, to su pp ly th e am ounts of such paym ents to any of such customers; that w e h ave no beneficial interest in the tenders o f such customers; and that none of our custom ers has any beneficial interest in the am ount b id for our ow n account. W e F u r t h e r C e r t i f y that tenders received b y us, if any, from other com m ercial banks for their ow n account and for the accoun t of their custom ers have b een entered w ith us under the sam e conditions, agree m ents, and certifications as set forth in this form. (N am e of subscriber — please p rin t or type) Insert this tender in special envelope m arked “T ender for Treasury N otes ’ (A ddress — please p rin t or ty p e ) (T el. N o.) ( Signature of subscriber or authorized sig n atu re ) (T itle of authorized signer) ( Banks submitting tenders for customer account must indicate names, and amounts desired by each, on a separate list attached hereto) INSTRUCTIONS: 1. value). No tender for less than $1,000 will be considered and each tender must be for an even multiple of $1,000 (maturity 2. Others than commercial banks will not be permitted to submit tenders except for their own account. Banks submitting tenders for customer account may consolidate competitive tenders at the same price and may consolidate noncompetitive tenders, provided a list is attached showing the name of each bidder, the amount bid for his account, and method or payment. 3. If the person making the tender is a corporation, the tender should be signed by an officer of the corporation author ized to make the tender, and the signing of the tender by an officer of the corporation will be construed as a representation by him that he has been so authorized. If the tender is made by a partnership, it should be signed by a member ot the firm, who should sign in the form “ .......................... ............................................................... . a copartnership, by ............................... .................................................... a member of the firm.” 4 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 or New Yor 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 notes applied for. 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, which, in the opinion of the Secretary of the Treasury, is material, the tender may be disregarded. sn SCHEDULE FOR ISSUE OF REGISTERED 6 PERCENT TREASURY NOTES OF SERIES E-1974 H I o H a> ft c o ^ ^ 3® | I DELIVER OVER THE COUNTER SIGN A T U R E _ | i SHIP TO SUBSCRIBER [ ] ] O T H E R INSTRUCTIONS: REGISTRATION NAME(S) > &. < 3 •< 1—1£ 3 -* > a. w S-S £T fD fD O j o >3 3 5* rt-’ — 3 3 rco £fD a *H ^3 H 0-<) §’ 8£ fD 8 ^ cj* sT XpH fD s o r-h fD 03 fft ZIP tf p 3 NAME(S) cr o p ID OR S.S. NO. > o ADDRESS B o 3 ZIP NAME(S) 1O/5 3o 3O ID OR S.S. NO. "• c r ADDRESS O S 2T°o 3DjC ^/i fD "■ l-J r+ ZIP NAME(S) fD p - O c/j fD 3 r3+ c r J 32 5. 000 34 ... 38 10 0.0 00 42 1 ,0 0 0 . 0 0 0 99 TOTAL 30 1 .0 0 0 32 5, 000 34 10, 00 0 38 10 0,0 00 42 1,000,000 99 TOTAL 30 1 ,000 32 5, 000 LOAN CODE SERIAL NOS. (LEAVE BLANK) FOR FRB USE O N L Y TR CASE NO. TR CASE NO. 10,000 4? 1,000,000 99 TOTAL 30 1 .00 0 32 5, 000 34 10 ,0 00 38 10 0, 00 0 42 1.000,000 99 TOTAL 30 cM fD cr odcr X3 2- ISSUE A G E N T 12 100 ,0 0 0 c & 3 3* 30 1.0 00 34 3 S > P- O r+ O 3 ID OR S.S. NO. ADDRESS o O NAME(S) p o 32 t° O 3 p ZIP a » A MO U N T DENOM . ID OR S.S. NO. ADDRESS >s © P o NO. OF PIECES I NSTRUCTI ONS CD ,_> S“ o 8 TRANS. ACCOUNTING DATE ZIP -^p **- 3 £? " f *ft §s SUBSCRIBER ADDRESS & O fD *1 O-i g.® F O R F R B USE O N L Y DE L I V E RY I NSTRUCTI ONS “ M K" ® s 2i£ oi— cl S OQ tsJ f H (T) P D- 2 w £ ,^ o O5 cr §ri ^^+ m o w 3 - £H§ ® > (t> 2 “ 30 B " CD SUBSCRIPTION NO. TR..CASE NO. TR. CASE NO. 1,000 32 .. ID OR S.S. NO. ADDRESS ZIP . I l: . . 'ifi 100.000 42 1.000,000 99 TOTAL TR. CASE NO.
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