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FEDERAL RESERVE BANK OF DALLAS F IS C A L A G E N T O F TH E U N ITE D S T A T E S Dallas, Texas, April 3, 1963 TREASURY ANNOUNCES COUPON RATES ON BONDS TO BE SOLD AT COMPETITIVE BIDDING To All Banking Institutions and Others Concerned in the Eleventh Federal Reserve District: There is quoted below a press statement released by the Treasury Department today announcing the provisions relating to the coupon rate of interest on Treasury Bonds of 1989-94, which are to be sold at competitive bidding: Treasury Gives Competitive Bidders for Bonds Choice of 4 or 4 Vs Percent Coupon Interest Rate Treasury Secretary Douglas Dillon today announced that bidders will be offered the option of bidding upon either a 4 percent or 4Va percent coupon rate for the $300,000,000 Treasury Bonds of 1989-94. Each bidder may submit only one bid which must specify one of these two coupon rates. The successful bidder will be required to make a bona fide reoffering of all the bonds to the investing public. This is the second offering of bonds at competitive bidding. In the first such offering, which took place in January of this year, bidders were offered the same choice of coupons, 4 percent or 4 Vs percent. The winning bid was for a 4 percent coupon at a price which resulted in a net basis cost of money to the Treasury of 4.008 percent. As previously announced, bidders must file a notice of intent to bid at the Federal Reserve Bank of New York not later than 12:00 noon, Eastern Standard time, on April 5, 1963. Final bids must be received at the same place not later than 11:00 a.m., Eastern Standard time, on Tuesday, April 9, 1963. The bonds will mature on M ay 15, 1994, but may be called for payment on M ay 15, 1989, or any interest payment date thereafter. The bonds will be dated April 18, 1963. Interest will be payable on M ay 15 and November 15 of each year until the bonds mature or are called. The first interest coupon, payable November 15, 1963, will cover interest accrued between April 18, 1963 and November 15, 1963. Payment for the bonds must be made in immediately available funds not later than 11:00 a.m., Eastern Standard time, on April 18, 1963. Forms for filing written notice of intention to bid and other related material will be furnished upon request. Yours very truly, Watrous H. Irons President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
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