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FEDERAL RESERVE BANK OF NEW YORK Fiscal A g en t o f the U nited States J" Circular N o. 5 3 2 1 ~1 L A pril 3, 1963 J Treasury Gives Competitive Bidders for Bonds Choice of 4 or 4 % Percent Coupon Interest Rate To All Banking Institutions, and Others Concerned, in the Second Federal Reserve D istrict: The following statement was made public today by the Treasury Department: Treasury Secretary Douglas Dillon today announced that bidders will be offered the option o f bid ding upon either a 4 percent or 4 % percent coupon rate fo r 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 o f bonds at competitive bidding. In the first such offering, which took place in January o f this year, bidders were offered the same choice o f coupons, 4 percent or 4a/8 per cent. The winning bid was fo r a 4 percent coupon at a price which resulted in a net basis cost o f money to the Treasury o f 4.008 percent. A s previously announced, bidders must file a Notice of Intent to B id at the Federal Reserve Bank of New Y ork not later than 12 noon, Eastern Standard time, on A p ril 5, 1963. Final bids must be received at the same place not later than 11 a.m., Eastern Standard time, on Tuesday, A p ril 9, 1963. The bonds will mature on May 15, 1994, but may be called fo r payment on M ay 15, 1989, or any interest payment date thereafter. The bonds will be dated A pril 18, 1963. Interest will be payable on May 15 and November 15 o f each year until the bonds mature or are called. The first interest coupon, payable November 15, 1963, will cover interest accrued between A pril 18,1963 and November 15, 1963. Paym ent for the bonds must be made in immediately available funds not later than 11 a.m., Eastern Standard time, on A pril 18, 1963. A lfred H ayes, President.
@FedFRASER