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Federal

reserve

bank

Dallas

of

FISC A L AGENT O F T H E UNITED STATES
DALLAS. TEXAS 7 5 2 2 2

Circular No. 69-2^0
September 17? 1969

PRELIMINARY ANNOUNCEMENT
TREASURY FINANCING

To All Banking Institutions and Others Concerned
in the Eleventh Federal Reserve District:

There is quoted b e l ow a press statement issued today b y the Treasury Department
in regard to current financing:
TREASURY ANNOUNCES $8.9 BILLION REFUNDING
OF OCTOBER 1 AND DECEMBER 15 MATURITIES
The Treasury today announced that it is offering holders of the
notes and bonds maturing October 1, 1969, an& the bonds maturing
December 15, 19&9?
right to exchange their holdings for a 19k~
month note, a 3-year 7|r-month note or a 6-year lOj-month note.
The
public holds about $7.6 billion of the securities eligible for ex­
change, and about $1.3 billion is held b y Federal Reserve and Govern­
ment accounts.
The securities eligible for exchange are:
$159 million of 1^j0 Treasury Notes of Series EO-I 969,
$6,2^0 million of
October 1, 1957), and

k o Treasury Bonds of 1969 (dated
^

$2,Wj- million of 2
September 15, 19^3)*

Treasury Bonds of

196U -69

(dated

The notes being offered are:

8% Treasury Notes of Series E-1971, dated October 1,
due May 15, 1971, at par,

1969?

7-3 /b% Treasury Notes of Series A-1973? dated October 1,
due May 15, 1973, at par, and

1969,

7
Treasury Notes of Series C-1976, dated October 1, 1969?
due August 15, 1976, at 99-50 to yield about 7-59

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

In the case of exchanges of the notes and bonds maturing
October 1 for the 7
notes subscribers will receive a cash payment
on account of the difference between the par value of the maturing
securities and the issue price of the n e w notes.
In the case of exchanges of the 2-§$ bonds net interest adjust­
ments will be announced later.
Cash subscriptions for the new notes will not be received.
The books will be open for three days only, on September 22
through September 2k, for the receipt of subscriptions.
Subscriptions
addressed to a Federal Reserve Bank or Branch, or to the Office of the
Treasurer of the United States, and placed in the mail before midnight
September 2k, will be considered as timely.
The payment and delivery
date for the notes will be October 1, 1969*
The notes will be made
available in registered as well as bearer form.
All subscribers re­
questing registered notes will be required to furnish appropriate
identifying numbers as required on tax returns and other documents
submitted to the Internal Revenue Service.
Coupons dated October 1, 19^9, on the securities maturing on that
date should be detached and cashed -when due.
The October 1, 19&9,
interest due on registered bonds maturing on that date will be paid
b y issue of interest checks in regular course to holders of record
on August 29, 1969? the date the transfer books closed.
Coupons
dated December 15, 19^9, on the bonds due on that date must be attached.
Interest on the 8$ notes will be payable on May 15 and November 15,
1970, and May 15, 1971.
Interest on the 7-3 / r o notes will be payable
kf
on May 15 and November 15, 1970, and thereafter on May 15 and November 15
until maturity.
Interest on the 7^0 notes will be payable on February 15
and August 15 until maturity.
The official circulars and subscription forms for the new issues of Treasury
notes will be mailed Thursday, September 18; however, if the forms do not reach you
b y Wednesday, September 2k, subscriptions ma y be entered b y mail or telegram, subject
to confirmation on official subscription blanks.
Yours very truly,

P. E. Coldwell
President

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