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FEDERAL RESERVE B A N K OF DALLAS
F I S C A L A G E N T O F T H E U N IT E D S T A T E S
DALLAS. TEXAS

75222

Circular No. 69-lU
April 30j 1969

PRELIMINAR Y ANNOUNCEM ENT
TRE ASURY FIN AN C I N G

To All B a nking Institutions and Others Concer ned
in the E l e v e n t h F e d er al Reser ve District:

There is quoted b e l o w a press statement issued t o d a y b y the T r e a sury Department
in r ega rd to current financing:
T R E A S U R Y A N N O UNCES $ 6.8 B I L L I O N REFUN D I N G
OF M A Y 15 A N D JUNE 15 M A T U R I T I E S
The Treasur y t o d a y announced that it is offering holders of the
5-5/8$ Treas ury Notes of Series B - I 969, m a t u r i n g M a y 15, 1969, and the
2-1/2$ T r e asury Bonds of I 96U- 69 , m a t u r i n g June 15, 19&9, the right to
exchange their holdings for a 15-month note or a 7-year note.
The notes b e i n g o f fered are:
6 -3/8$ Treas ury Notes of Series D-1970, d a t e d M a y 15,
August 15, 1970, at 9 9-95 to yield about 6 .U2
and

1969?

due

6-3/2$ T r e asury N otes of Series B-I 976, dated M a y 15, 19^9 j due
M a y 15, 1976, at par.
I n the case o f exchanges of the 5-5/8$ notes, subscribers for the
notes w i l l receive a cash payment on account of the difference
b e t w e e n the par value of the m a t u r i n g notes and the issue price of the
new notes.

75- month

In the case of exchanges of the 2-l/2$ bonds, interest w i l l be a d ­
justed as of June 15, 1969* The p ayments due t o and f r o m subscribers
and the net amounts payable to subscribers are as follows (per $ 1,000
face v a l u e ):

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

A C C R U E D INTEREST PAYABLE

N E W NOTES

PAYABLE TO
S UBSCR IBER
ACCOUNT OF
ISSUE PRICE
OF N E W NOTES

T O SUBSCRIBER
ON 2-1/2$ BONDS
(12- 15-68 to

6-15- 69)

B Y SUBSCRIBER
ON N E W NOTES
(5-15-69 to
6-15-69)

NET AMOUN T
TO BE PAID
TO SUBC RIBER

Due
8-15-70

$ 0.50

$12.50

$5.^5925

7.5^075

Due

5- 15-76

-

12.50

5 .It
_755i
+

7.02M+6

The p ubli c holds about $ 5 - 9 b i l l i o n of the securities eligible for
exchange, and about $ 0.9 b i l l i o n is held b y F e d eral Reserve and Government
Accounts.
Cash subscriptions for the n e w notes will not b e received.
The books w i l l be open for three days o n l y , on M a y 5 t h r o u g h M a y 7,
.
for the receipt of subscriptions.
Subscriptions ad dressed to a Federal
Reserve Bank or Branch, or to the Office of the Treasurer of the U n i t e d
States, and p l a c e d i n the m a i l before m i d n i g h t M a y 7, w i l l be considered
as timely.
The p a y m e n t and d e l i v e r y date for the notes will be M a y 15,
1969. The notes w i l l be m a d e available in r egiste red as w e l l as b eare r
form.
A l l subscribers r equesti ng register ed notes w i l l be r e q u i r e d to
f u rnish appropriate identi fying numbers as req uired on ta x returns and
other documents submitted to the Internal Revenue Service.
Coupons dated M a y 15, 19^9, on the notes m a t u r i n g on that date
should be detached and cashed w h e n due.
The M a y 15, 1969? interest due
on reg istered notes w i l l b e p a i d b y issue of interest checks in regular
course to holde rs of r e c o r d on A p r i l 15, 19&9? the date the t rans f e r
books closed.
Coupons dated June 15, 19^9? o n the bonds due on that
date m u s t be attached.
Interest on the notes due August 15, 1970, w i l l b e payab le on
August 15, 1969, and F e b r u a r y 15 and August 15, 1970.
Interest on the
notes due M a y 15, 1976, will be payable o n N o v embe r 15, 19^9? and t h e r e ­
after on M a y 15 and November 15 until maturity.
The official circulars and s u b scr iption forms for the n e w issues of Treasur y
notes wi ll be m a i l e d Thursday, M a y 1; however, if the forms do not r e a c h y o u b y
Wednesday, M a y 7, subscriptions m a y be entere d b y m a i l or telegram, subject to
c o n f i r m a t i o n o n official s u bscrip tion blanks.

Yours very truly,
P. E. Coldwell
President


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102