The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BANK OF N EW YORK Fiscal Agent of the United States [C irc u la r N o. 6484 F e b ru a ry 6, 197o| To A l l Bankin g In stitu tio n s , a n d O th e rs Concerned, in the S e c o n d F e d er a l R e s e r v e D istric t: The following statem ent was made public today by the T reasury Department: PRELIMINARY RESULTS OF CURRENT EXCHANGE OFFERING P relim in ary figures show that about $5,792 million of the $6,662 million of bonds m atur ing F ebruary 15 and March 15 have been exchanged for the three notes included in the c u r rent offering. Of the eligible secu rities held by the public, $3,462 million of February 15 m aturities and $1,293 million of March 15 m aturities w ere exchanged, leaving $533 million, or 13.3%, and $330 million, or 20.3%, respectively, for redemption. Subscriptions total $2,199 million for the 8-1/4% notes of Series F-1971, $1,771 million for the 8-1/8% notes of Series B-1973, and $1,822 million for the 8% notes of Series A-1977, of which $1,907 million, $1,484 million, and $1,364 million, respectively, w ere received from the public. Following is a breakdown of secu rities to be exchanged (amounts in millions): ELIG IBLE FOR EXCHANGE Description 4% bonds 2-1/2% bonds T o ta ls SECURITIES TO BE ISSUED UNEXCHANGED % of % of total total out Total held by amount standing public Date due T otal amount 8-1/4% Notes 8/15/71 2 /1 5 /7 0 $4,382 $1,525 $1,206 $1,111 $3,842 $540 12.3 13.3 3 /1 5 /7 0 2,280 674 565 711 1,950 330 14.5 20.3 $6,662 $2,199 $1,771 $1,822 $5,792 $870 13.1 15.4 8-1/8% Notes 8 /1 5 /7 3 8% Notes 2/1 5 /7 7 Total to be issued Details by Federal R eserve D istricts as to subscriptions will be announced later. Alfred Hayes, P resident.