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F E D E R A L R E S E R V E BANK O F N E W YORK Fiscal Agent of the United States r Circular No. 6 5 3 3 May 1, 1970 L J Refunding of Treasury Notes Maturing May 15, 1970 and Cash Offering of 18-Month Treasury Notes To A ll Bankinq In stitu tio n s, and Others Concerned, in the Second F ederal R eserve D istric t: The subscription books will be open Monday, May 4, through Wednesday, May 6, for an offering of — 7% percent T reasury Notes of Series A-1973, dated October 1, 1969, w ith interest from M ay 15, 1970, m aturing M ay 15, 1973, at 99.40, and 8 percent T reasury Notes of Series A-1977, dated F eb ru a ry 15, 1970, w ith interest from May 15, 1970, m aturing F eb ru a ry 15, 1977, at par, in exchange for the eligible series of Treasury notes maturing May 15, 1970, as set forth in Treasury Department Circulars Nos. 4-70 and 5-70, Public Debt Series, both dated April 30, 1970; a copy of each is printed on the following pages. The subscription books will also be open Tuesday, May 5, for one day only, for a Treasury offering to the public, at 99.95, of — 7% percent T reasury Notes of Series G-1971, dated May 15, 1970, m aturing November 15, 1971, in the amount of $3.5 billion, or thereabouts, as set forth in Treasury Department Circular No. 6-70, Public Debt Series, dated April 30, 1970, a copy of which is also printed on the following pages. Exchange offering Coupons dated May 15, 1970 on the notes maturing on that date should be detached and cashed when due. Only banking institutions may submit subscriptions for account of customers. On any subscription for account of an individual of more than $200,000 for a specific security, the customer’s name must be furnished. On subscriptions for $200,000 or less for a specific secu rity for account of an individual, banking institutions may consolidate the subscriptions and report the total number and amount. On subscriptions of any amount for account of customers other than individuals, their names and locations must be furnished. On subscriptions for account of customers of correspondent banks, the names of such customers and, if not individ uals, their locations must be furnished. Subscribers are required to certify that at the time the subscription is entered the securi ties surrendered were owned and delivery was accepted by the subscriber, or that such securities were contracted for purchase for value by the subscriber for delivery to the subscriber prior to the closing of the subscription books. The subscription books will remain open for three clays, May 4 through May 6. Cash subscriptions will not be received. Cash offering — 18-month notes Subscriptions in amounts up to and including $200,000 will be allotted in full, and sub scriptions over $200,000 will be allotted on a percentage basis but not less than $200,000. Pay ment must be made by May 15, in cash, or in 5% percent Treasury Notes of Series B-1970, or 6% percent Treasury Notes of Series C-1970. Coupons dated May 15, 1970 on the notes maturing on that date should be detached and cashed when due. All subscribers are required to agree not to purchase or to sell, or to make any agreements with respect to the purchase or sale or other disposition of, the notes subscribed for at a specific rate or price until after midnight, May 5,1970. A commercial bank submitting a subscription direct to the Federal Reserve Bank of its District may, if it is a qualified depositary, pay by credit in its Treasury Tax and Loan Account for notes allotted on such subscription up to 50 percent of the purchase price of the notes allotted; however, a commercial bank submitting a subscription through a correspondent bank may not pay by credit in its Tax and Loan Account for notes allotted on the subscription of the correspondent bank. Subscriptions from commercial banks, for their own account, will be restricted in each case to an amount not exceeding 50 percent of the combined capital (not including capital notes or debentures), surplus, and undivided profits of the subscribing bank. Subscriptions from all subscribers, except banking institutions for their own account and others as specified in Section III of the Treasury circular, must be accompanied by payment of 10 percent (in cash or in maturing securities) of tlie amount of securities applied for. If subscribers required to make deposits desire to deposit the maturing securities but do not have the denominations to meet exactly the minimum deposit requirement, they are urged to leave any excess on deposit to avoid denominational exchanges and unnecessary movement of securities. Only commercial banks may submit subscriptions for account of customers, provided the names of the customers are set forth in such subscriptions. On subscriptions for account of customers of correspondent banks, the names of such customers, and if not individuals, their locations, must be furnished. Others than commercial banks may submit subscriptions only for their own account. Commercial banks are urged to retain the required deposits (cash or maturing securities) of their customers until after allotment of the new securities; if the maturing securities are retained, the risk and expense involved in forwarding them to this Bank wTill thus be avoided. Commercial banks are urged to enter subscriptions for their own account, and for account of their customers, with the Federal Reserve Bank or Branch in the District in which they are located. The subscription books will remain open for one day only, Tuesday, May 5. # * * Subscriptions for both issues will be received by this Bank as fiscal agent of the United States. Subscriptions should be submitted on official subscription forms, copies of which are enclosed, and should be mailed immediately. If filed by telegram or letter, the subscriptions should be confirmed immediately by mail on the forms provided. Any exchange subscription addressed to a Federal Reserve Bank or Branch or to the Treasury Department and placed in the mail before midnight Wednesday, May 6, will be considered timely. Any cash sub scription so addressed and placed in the mail before midnight Tuesday, May 5, will be considered timely. A lfred H ayes, President. 2 UNITED STATES OF AMERICA 7% PERCENT TREASURY NOTES OF SERIES A-1973 Dated O ctober 1, 1969, with interest from May 15, 1970 D ue May 15, 1973 TREASURY DEPARTM ENT, Office of the Secretary, Washington, A p ril 30,1970 D E PA R T M E N T CIRCULAR P u b lic D ebt Series — N o. 4 -7 0 I. or any of the possessions of the U nited States, or by any local taxing authority. OFFERING OF NOTES 1. The Secretary of the Treasury, pursuant to the au thority of the Second Liberty Bond Act, as amended, offers notes of the U nited States, designated 7% p er cent Treasury Notes of Series A-1973, at 99.40 percent of th eir face value, in exchange for the following securities m aturing May 15, 1970: “ 3. The notes will be acceptable to secure de posits of public moneys. They will n o t be acceptable in paym ent of taxes. “ 4. B earer notes w ith interest coupons attached, and notes registered as to principal and in te r est, will be issued in denom inations of $1,000, $5,000, $10,000, $100,000, $1,000,000, $100,000,000 and $500,000,000. Provision will be made for the interchange of notes of different denominations and of coupon and registered notes, and for the tran sfer of registered notes, under rules and regulations prescribed by the Secretary of the Treasury. (1) 5% percent Treasury Notes of Series B-1970; or (2) 6% percent T reasury Notes of Series C-1970. Cash paym ents due subscribers will be made as set forth in Section IV hereof. The am ount of this offer ing will be lim ited to the am ount of eligible notes tendered in exchange. The books will be open only on May 4 through May 6, 1970, for the receipt of sub scriptions. “ 5. The notes will be subject to the general reg ulations of the T reasury D epartm ent, now or hereafter prescribed, governing U nited States notes.” 2. In addition, holders of the notes enum erated in P arag rap h 1 of this section are offered the privilege of exchanging all or any p art of them for 8 percent T reasury Notes of Series A-1977, which offering is set forth in D epartm ent Circular, Public Debt Series — No. 5-70, issued sim ultaneously w ith this circular. II. III. 1. Subscriptions accepting the offer made by this circular will be received at the F ederal Reserve Banks and Branches and at the Office of the T reasu rer of the U nited States, W ashington, D. C. 20220. B anking institutions generally may subm it subscriptions for account of customers, but only the F ederal Reserve Banks and the T reasury D epartm ent are authorized to act as official agencies. DESCRIPTIO N OF NOTES 1. The notes now offered will be identical in all respects with the 7% percent Treasury Notes of Series A-1973 issued p u rsu an t to D epartm ent Circular, P u b lic Debt Series — No. 7-69, dated Septem ber 18, 1969, except th at interest will accrue from May 15, 1970. W ith this exception the notes are described in the fol lowing quotation from D epartm ent C ircular No. 7-69: 2. U nder the Second L iberty Bond Act, as amended, the Secretary of the T reasury has the auth o rity to reject or reduce any subscription, arid to allot less than the am ount of notes applied fo r when he deems it to be in the public in te re st; and any action he may take in these respects shall be final. Subject to the exercise of th a t authority, all subscriptions will be allotted in full. “ 1. The notes will be dated October 1, 1969, and will bear interest from that date at the rate of 7% percent per annum , payable on a semi annual basis on May 15 and November 15, 1970, and thereafter on May 15 and Novem ber 15 in each year u ntil the principal amount becomes payable. They will m ature May 15, 1973, and will not be subject to call for re dem ption prior to m aturity. IV. PAYM ENT 1. Paym ent for the face am ount of notes allotted hereunder m ust be made on or before May 15, 1970, or on later allotm ent, and m ay be made only in a like face am ount of notes of the issues enum erated in P a ra graph 1 of Section I hereof, which should accompany the subscription. P aym ent will not be deemed to have been completed where registered notes are requested if the appropriate identifying num ber as required on tax re tu rn s and other documents subm itted to the “ 2. The income derived from the notes is subject to all taxes imposed under the In tern al Rev enue Code of 1954. The notes are subject to estate, inheritance, gift or other excise taxes, w hether F ederal or State, but are exempt from all taxation now or hereafter imposed on the principal or interest thereof by any State, SUBSCRIPTION AND ALLOTM ENT 3 In tern al Revenue Service (an in d iv id u al’s social se cu rity num ber or an employer identification num ber) is not furnished. A cash paym ent of $6.00 per $1,000 will be made to subscribers on account of the issue price of the new notes. The paym ent will be made by check or by credit in any account m aintained by a banking institution with the Federal Reserve B ank of its D istrict, following acceptance of the m aturing notes. In the case of registered notes, the paym ent will be made in accordance w ith the assignments on the notes surrendered. W hen paym ent is made with notes in bearer form, coupons dated May 15, 1970, should be detached and cashed when due. W hen pay m ent is made w ith registered notes, the final interest due on May 15, 1970, will be paid by issue of interest checks in regular course to holders of record on A pril 15, 1970, the date the tran sfer books closed. V. tered in the same name as the notes surrendered, the assignment should be to £‘ The Secretary of the Treas u ry for exchange for 7% percent T reasury Notes of Series A-1973” ; if the new notes are desired registered in another name, the assignment should be to “ The Secretary of the Treasury for exchange for 7% p er cent T reasury Notes of Series A-1973 in the name of ..................................................” ; if new notes in coupon form are desired, the assignment should be to “ The S ecretary of the Treasury for exchange for 7% p er cent T reasury Notes of Series A-1973 in coupon form to be delivered to ................................................. ” . VI. ASSIGNMENT OF REGISTERED NOTES 1. Registered notes tendered in paym ent for notes offered hereunder should be assigned by the registered payees or assignees thereof, in accordance w ith the gen eral regulations of the T reasury D epartm ent govern ing assignments for tran sfer or exchange, in one of the form s hereafter set forth, and th ereafter should be surrendered with the subscription to a F ederal Re serve B ank or B ranch or to the Office of the T reasurer of the U nited States, W ashington, D. C. 20220. The m aturing notes m ust be delivered at the expense and risk of the holder. I f the new notes are desired regis GENERAL PROVISIONS 1. As fiscal agents of the U nited States, Federal Reserve Banks are authorized and requested to receive subscriptions, to make such allotm ents as may be prescribed by the Secretary of the Treasury, to issue such notices as m ay be necessary, to receive paym ent for and make delivery of notes on full-paid subscrip tions allotted, and they may issue interim receipts pending delivery of the definitive notes. 2. The Secretary of the T reasury may at any time, or from time to time, prescribe supplem ental or am en datory rules and regulations governing the offering, which will be communicated prom ptly to the Federal Reserve Banks. DAVID M. KENNEDY, Secretary of the Treasury. UNITED STATES OF AMERICA 8 PERCENT TREASURY NOTES OF SERIES A-1977 Dated February 15, 1970, with interest from May 15, 1970 Due February 15, 1977 TREASURY DEPARTMENT, Office of the Secretary, Washington, A pril 30,1970. D E P A R T M E N T CIRCULAR P u b lic D ebt Series — N o. 5 -7 0 I. OFFERING OF NOTES 1. The Secretary of the Treasury, p u rsu a n t to the au th o rity of the Second L iberty Bond Act, as amended, offers notes of the U nited States, desig n ated 8 percent T reasury Notes of Series A-1977, at p a r and accrued interest, in exchange for the follow ing securities m atu ring May 15, 1970: (1) 5% percent T reasury Notes of Series B-1970; or (2) 6% percent T reasury Notes of Series C-1970. 2. In addition, holders of the notes enum erated in P ara g rap h 1 of this section are offered the privilege of exchanging all or any p a rt of them for 7% percent T reasury Notes of Series A-1973, which offering is set forth in D epartm ent C ircular, Public Debt Series — No. 4-70, issued sim ultaneously w ith this circular. II. D ESCRIPTION OF NOTES 1. The notes now offered will be identical in all respects w ith the 8 percent T reasury Notes of Series The am ount of this offering will be lim ited to the am ount of eligible notes tendered in exchange. The books will be open only on M ay 4 through May 6, 1970, for the receipt of subscriptions. 4 per $1,000 for accrued interest from F eb ru ary 15 to May 15, 1970, m ust be made on or before M ay 15, 1970 or on later allottm ent. P aym ent for the face am ount of the notes allotted may be made only in a like face am ount of notes of the issues enum erated in P ara g rap h 1 of Section I hereof, which together w ith the cash paym ent referred to in the preceding sen tence should accompany the subscription. P aym ent will not be deemed to have been completed where registered notes are requested if the ap p ro p riate identifying num ber as required on tax retu rn s and other documents subm itted to the In te rn a l Revenue Service (an in d iv id u al’s social security num ber or an employer identification num ber) is not furnished. W hen paym ent is made w ith notes in bearer form, coupons dated M ay 15, 1970, should be detached and cashed when due. W hen paym ent is made w ith regis tered notes, the final interest due on May 15, 1970, will be paid by issue of interest checks in regular course to holders of record on A pril 15, 1970, the date the tran sfer books closed. A-1977 issued p u rsu a n t to D epartm ent Circular, P u b lic Debt Series — No. 3-70, dated Ja n u a ry 29, 1970, except th a t interest will accrue from May 15, 1970. W ith this exception the notes are described in the fol lowing quotation from D epartm ent C ircular No. 3-70: “ 1. The notes will be dated F eb ru ary 15, 1970, and will bear interest from th a t date a t the rate of 8 percent per annum , payable semi annually on A ugust 15, 1970 and thereafter on F eb ru ary 15 and A ugust 15 in each year u n til the principal am ount becomes payable. They will m ature F eb ru a ry 15, 1977, and will not be subject to call for redem ption p rio r to m aturity. “ 2. The income derived from the notes is subject to all taxes imposed under the In tern al Rev enue Code of 1954. The notes are subject to estate, inheritance, g ift or other excise taxes, w hether F ederal or State, but are exempt from all taxation now or hereafter imposed on the principal or interest thereof by any State, or any of the possessions of the U nited States, or by any local taxing authority. V. 1. Registered notes tendered in paym ent for notes offered hereunder should be assigned by the registered payees or assignees thereof, in accordance w ith the general regulations of the T reasury D epartm en t gov erning assignments for tran sfer or exchange, in one of the forms hereafter set forth, and th ereafter should be surrendered w ith the subscription to a F ederal Reserve B ank or B ranch or to the Office of the T reas u re r of the U nited States, W ashington, D. C. 20220. The m aturing notes m ust be delivered a t the expense and risk of the holder. I f the new notes are desired registered in the same name as the notes surrendered, the assignm ent should be to “ The S ecretary of the T reasury for exchange for 8 percent T reasury Notes of Series A-1977 ” ; if the new notes are desired reg istered in another name, the assignm ent should be to “ The Secretary of the T reasury for exchange for 8 percent T reasury Notes of Series A-1977 in the name of .......................................................... ” ; if new notes in coupon form are desired, the assignm ent should be to “ The Secretary of the Treasury for exchange for 8 percent T reasury Notes of Series A-1977 in coupon form to be delivered t o ....................................................” . “ 3. The notes will be acceptable to secure de posits of public moneys. They will not be acceptable in paym ent of taxes. “ 4. B earer notes w ith interest coupons attached, and notes registered as to p rincipal and interest, will be issued in denom inations of $1,000, $5,000, $10,000, $100,000, $1,000,000, $100,000,000 and $500,000,000. Provision will be made for the interchange of notes of d if feren t denom inations and of coupon and reg istered notes, and for the tran sfer of reg istered notes, under rules and regulations prescribed by the S ecretary of the Treasury. “ 5. The notes will be subject to the general reg ulations of the T reasury D epartm ent, now or hereafter prescribed, governing U nited States notes.” III. SUBSCRIPTION AND ALLOTMENT 1. Subscriptions accepting the offer made by this circular will be received at the F ederal Reserve Banks and B ranches and a t the Office of the T reasurer of the U nited States, W ashington, D. C. 20220. B anking institutions generally may subm it subscriptions for account of customers, b u t only the F ederal Reserve Banks and the T reasury D epartm ent are authorized to act as official agencies. VI. 2. The Secretary of the T reasury may at any time, or from time to time, prescribe supplem ental or am endatory rules and regulations governing the offer ing, which will be communicated prom ptly to the F ederal Reserve Banks. PAYMENT DAVID M. KENNEDY, 1. P aym ent for the face am ount of notes allotted hereunder, together w ith a cash paym ent of $19.66851 GENERAL PROVISIONS 1. As fiscal agents of the U nited States, F ederal Reserve Banks are authorized and requested to re ceive subscriptions, to make such allotments as may be prescribed by the Secretary of the Treasury, to issue such notices as may be necessary, to receive pay m ent for and make delivery of notes on full-paid sub scriptions allotted, and they m ay issue interim re ceipts pending delivery of the definitive notes. 2. U nder the Second L iberty Bond Act, as amended, the Secretary of the T reasury has the auth o rity to reject or reduce any subscription, and to allot less th an the am ount of notes applied for when he deems it to be in the public in terest; and any action he may take in these respects shall be final. Subject to the exercise of th a t authority, all subscrip tions will be allotted in full. IV. ASSIGNMENT OF REGISTERED NOTES Secretary of the Treasury. 5 UNITED STATES OF AMERICA 7% PERCENT TREASURY NOTES OF SERIES G-1971 Dated and bearing interest from May 15, 1970 D u e N ovem b er 15 , 1 9 7 1 TREASURY DEPARTMENT, Office of the Secretary, Washington, A pril 30,1970. D E P A R T M E N T CIRCULAR P u b lic D eb t Series — N o. 6 -7 0 I. III. OFFERING OF NOTES 1. The Secretary of the Treasury, p u rsu an t to the au th o rity of the Second Liberty Bond Act, as amended, offers $3,500,000,000, or thereabouts, of notes of the U nited States, designated 7% percent T reasury Notes of Series G-1971, at 99.95 percent of their face value and accrued interest, if any. In addition to the am ount offered for public subscription, the Secretary of the T reasury reserves the right to allot an addi tional am ount of these notes to Government accounts and Federal Reserve Banks. The following securities, m aturing May 15, 1970, will be accepted at p a r in paym ent or exchange, in whole or in part, to the ex ten t subscriptions are allotted by the T reasury: (1) 5% percent Treasury Notes of Series B-1970; or 1. Subscriptions accepting the offer made by this circular will be received at the Federal Reserve Banks and Branches and at the Office of the Treasurer of the United States, W ashington, D.C. 20220. Only the F ed eral Reserve Banks and the Treasury D epartm ent are authorized to act as official agencies. Commercial banks, which for this purpose are defined as banks accepting dem and deposits, may submit subscriptions for account of customers provided the names of the customers are set forth in such subscriptions. Others than commer cial banks will not be perm itted to enter subscriptions except for th eir own account. Subscriptions from com mercial banks for their own account will be restricted in each case to an amount not exceeding 50 percent of the combined capital (not including capital notes or debentures), surplus and undivided profits of the sub scribing bank. Subscriptions will be received without deposit from banking institutions for their own ac count, Federally-insured savings and loan associations, States, political subdivisions or instrum entalities thereof, public pension and retirem ent and other pub lic funds, international organizations in which the United States holds membership, foreign central banks and foreign States, and dealers who make prim ary m ar kets in Government securities and report daily to the Federal Reserve Bank of New York their positions with respect to Government securities and borrowings thereon. Subscriptions from all others must be accom panied by paym ent (in cash or in notes of the issues enum erated in P arag rap h 1 of Section I hereof, which will be accepted at p ar) of 10 percent of the amount of notes applied for, not subject to w ithdraw al until afte r allotment. Registered notes subm itted as deposits should be assigned as provided in Section V hereof. Following allotment, any portion of the 10 percent paym ent in excess of 10 percent of the am ount of notes allotted may be released upon the request of the sub scribers. (2) 6% percent T reasury Notes of Series C-1970. The books will be open only on May 5, 1970, for the receipt of subscriptions. II. DESCRIPTIO N OF NOTES 1. The notes will be dated May 15, 1970, and will bear interest from th at date at the rate of 7% percent p er annum , payable sem iannually on November 15, 1970 and on May 15 and November 15, 1971. They will m ature November 15, 1971, and will not be subject to call for redem ption prior to m aturity. 2. The income derived from the notes is subject to all taxes imposed under the In tern al Revenue Code of 1954. The notes are subject to estate, inheritance, gift or other excise taxes, whether Federal or State, but are exempt from all taxation now or hereafter imposed on the principal or interest thereof by any State, or any of the possessions of the U nited States, or by any local taxing authority. 3. The notes will be acceptable to secure deposits of public moneys. They will not be acceptable in pay m ent of taxes. 2. All subscribers are required to agree not to p u r chase or to sell, or to make any agreements with respect to the purchase or sale or other disposition of any notes of this issue at a specific rate or price, until afte r m id night May 5, 1970. 4. Bearer notes w ith interest coupons attached, and notes registered as to principal and interest, will be issued in denom inations of $1,000, $5,000, $10,000, $100,000 and $1,000,000. Provision will be made for the interchange of notes of different denominations and of coupon and registered notes, and for the tran sfer of registered notes, un der rules and regulations p re scribed by the S ecretary of the Treasury. 3. Commercial banks in subm itting subscriptions will be required to certify th at they have no beneficial interest in any of the subscriptions they enter for the account of their customers, and th at their customers have no beneficial interest in the banks’ subscriptions for their own account. 5. The notes will be subject to the general regula tions of the T reasury D epartm ent, now or hereafter prescribed, governing U nited States notes. SUBSCRIPTION AND ALLOTM ENT 6 4. U nder the Second L iberty Bond Act, as amended, the Secretary of the T reasury has the au th o rity to reject or reduce any subscription, to allot less th an the am ount of notes applied for, and to make different percentage allotments to various classes of subscribers when he deems it to be in the public in terest; and any action he may take in these respects shall be final. Subject to the exercise of th a t authority, subscriptions will be a llo tte d : (1) in fu ll if the subscription is for $200,000 or less; and (2) on a percentage basis to be publicly an nounced but not less th an $200,000. Allotm ent notices will be sent out prom ptly upon allotment. IV. PAYMENT 1. P aym ent a t 99.95 percent of their face value and accrued interest, if any, for notes allotted here under m ust be made or completed on or before May 15, 1970, or on later allotment. Paym ent will not be deemed to have been completed where registered notes are requested if the appropriate identifying num ber as required on tax returns and other documents sub m itted to the In tern al Revenue Service (an individ u a l’s social security num ber or an employer identifi cation num ber) is not furnished. In every case where full paym ent is not completed, the paym ent with appli cation up to 10 percent of the am ount of notes allotted shall, upon declaration made by the Secretary of the T reasury in his discretion, be forfeited to the United States. Paym ent may be made for any notes allotted hereunder in cash or by exchange of notes of the issues enum erated in P arag rap h 1 of Section I hereof, which will be accepted at par. A cash adjustm ent will be made for the difference ($0.50 per $1,000) between the par value of the m aturing notes accepted in exchange and the issue price of the new notes. The paym ent will be made by check or by credit in any account m ain tained by a banking institution w ith the Federal Re serve Bank of its D istrict following acceptance of the notes. In the case of registered notes the paym ent will be made in accordance w ith the assignments on the notes surrendered. A ny qualified depositary will be perm itted to make paym ent by credit in its Treas ury Tax and Loan Account for not more than 50 p er cent of the am ount of notes allotted to it for itself and its customers. W hen paym ent is made with notes in bearer form, coupons dated May 15, 1970, should be detached and cashed when due. W hen paym ent is made w ith registered notes, the final interest due on May 15, 1970, will be paid by issue of interest checks in regular course to holders of record on A p ril 15, 1970, the date the tran sfer books closed. V. ASSIGNMENT OF REGISTERED NOTES 1. R egistered notes tendered as deposits and in paym ent for notes allotted hereunder should be as signed by the registered payees or assignees thereof, in accordance w ith the general regulations of the T reasury D epartm ent, in one of the form s h ereafter set forth. Notes tendered in paym ent should be su r rendered to a F ederal Reserve B ank or B ranch or to the Office of the T reasurer of the U nited States, W ashington, D. C. 20220. The m aturing notes m ust be delivered a t the expense and risk of the holder. I f the new notes are desired registered in the same name as the notes surrendered, the assignm ent should be to “ The Secretary of the T reasury for 7% percent T reasury Notes of Series G-1971” ; if the new notes are desired registered in another name, the assign m ent should be to “ The Secretary of the T reasury for 7% percent T reasury Notes of Series G-1971 in the name o f ............................................... ” ; if new notes in coupon form are desired, the assignm ent should be to “ The Secretary of the T reasury for 7% percent Treasury Notes of Series G-1971 in coupon form to be delivered t o ............................................... ” . VI. GENERAL PROVISIONS 1. As fiscal agents of the United States, Federal Reserve Banks are authorized and requested to re ceive subscriptions, to make such allotments as may be prescribed by the Secretary of the Treasury, to issue such notices as may be necessary, to receive p ay m ent for and make delivery of notes on full-paid subscriptions allotted, and they may issue interim receipts pending delivery of the definitive notes. 2. The Secretary of the Treasury may at any time, or from time to time, prescribe supplem ental or am endatory rules and regulations governing the offer ing, which will be communicated prom ptly to the F ed eral Reserve Banks. DAVID M. KENNEDY, Secretary of the Treasury. 7 FORM N-l ( Please type or print legibly ) Subscriber’s Reference No. Subscription No. SUBSCRIPTION — SUBJECT TO ALLOTMENT For United States of America 7% Percent Treasury Notes of Series G-1971 Dated May 15, 1970, Due November 15, 1971 IMPORTANT INSTRUCTIONS P aym en t. Payment at 99.95 for the notes to be allotted hereunder may be made in cash or by exchange of 5%% Treasury Notes of Series R-1970, or 6%% Treasury Notes of Series C-1970, both maturing May 15, 1970. Coupons dated May 15, 1970 should be d e ta c h e d from the maturing securities in bearer form and cashed when due. P aym en t for th e n ew n otes w ill b e p e rm itte d b y c re d it in T reasury Tax an d L oan A ccounts for not m ore than 5 0% o f the purchase price o f the n otes a llo tted to any qualified d ep o sita ry for itself and its custom ers. D e p o sit. Subscriptions from banking institutions for their own account and from certain others as specified in Section III of Treasury Department Circular No. 6-70, Public Debt Series, will be received without deposit. Subscriptions from all others must be accompanied by payment (in cash or in maturing securities) of not less than 10% of the amount of notes applied for, except that commercial banks subscribing for account of customers are urged to retain their customers’ deposits until after allotment. Checks accompanying the subscriptions should be made payable to the Federal Reserve Rank of New York; checks endorsed to the Federal Reserve Rank of New York will not be accepted. Amount of notes applied for must be in multiples of $1,000. Subscriptions will be allotted in full if the subscription is for $200,000 or less; and on a percentage basis to be publicly announced but not less than $200,000. Subscription am ounts. A llotm en ts. The subscription books will be open only on May 5 for the receipt of subscriptions. D ated a t ......................................................... Fiscal Agent of the U nited States, ................................................................. 1970 New York, N. Y. 10045 Attention: Government Bond Division F e d e r a l R eserv e B a n k o f N e w Y ork, G entlem en : Pursuant to the provisions of Treasury D epartm ent Circular No. 6-70, Public D ebt Series, dated April 30, 1970, the undersigned hereby subscribes at 99.95 for U nited States of America 7% percent Treasury Notes of Series G-1971 as follows: For own a c c o u n t.................................................................................................................. $ .................................. For our customers, shown on reverse side (for use of commercial banks) ........ $ .................................... Total su b s c rip tio n ......................................................... $ (If securities are submitted with this subscription, the securities should be accompanied by Form N-2, which form shall be made a part of your subscription.) (If a commercial bank is subscribing for its own account or for account of customers, the following certifications are made a part of this subscription.) W e H e r e b y C e r t i f y that w e have received applications from our customers in the am ount set opposite the customers’ names on the list which is m ade a p art of this subscription; that there has been paid to us by each such customer as required by official offering circular, not subject to w ithdraw al until after allotment, not less than 10 percent of the am ount applied for; that we have not m ade unsecured loans, or loans collateralized in whole or in p art by the securities applied for, to supply the amounts of such payments to any of such customers; th at we have no beneficial interest in the applications of such customers, and that none of our customers has any beneficial interest in the am ount subscribed for our own account. W e F u r t h e r C e r t i f y that all subscribers for whom subscriptions are hereby entered have agreed not to purchase or to sell, or to make any agreements w ith respect to the purchase or sale or other disposition of any notes of this issue at a specific rate or price, until after m idnight, May 5, 1970. W e F u r t h e r C e r t i f y that the subscription for our own account does not exceed 50 percent of our com bined capital (not including capital notes or debentures), surplus, and undivided profits. W e F u r t h e r C e r t i f y that applications received by us, if any, from other commercial banks for their own account and for the account of their customers have been entered w ith us under the same conditions, agreements, and certifications as set forth in this subscription form. The undersigned agrees not to purchase or to sell, or to make any agreements w ith respect to the p u r chase or sale or other disposition of any notes of this issue at a specific rate or price until after midnight, May 5, 1970. TO SUBSCRIBER: (Fill in all required spaces before signing) Mark (X ) in proper space to indicate if this is : ....................... ( N a m e o f s u b s c r i b e r — P l e a s e pri nt or t y p e w r i t e ) Original subscription ........... □ By .................... Confirmation of a telegram . □ Confirmation of a letter . . . . □ ( Official signature) (Title) Address (Do not write in space below) D eposit $ ............................................................................................ Allotment $ .............................................. Figured .................... Advised. (If acknowledgment of this subscription is desired, complete this stub) R eceipt is acknow ledged of your subscription for $ ...................................................of 7% % Treasury Notes of Series G-1971, dated May 15, 1970, m aturing Novem ber 15,1971. For use of Federal Reserve Rank Time Stamp To ....................................................... (Name) (Address) (F o r use of commercial bank subscribers only) Lists of Accounts Included in this Subscription (I f space is insufficient in schedule below , attach separate listin g) L eave blank Name and location ( C ity and State ) of idtim ate purchaser ____________ (L ocation of individuals not required)____________ Amount Subscribed Subscriber’s R eference N o. Subscription N o. Securities Accompanying Subscription For United States of America 7% Percent Treasury Notes of Series G-1971 Dated May 15, 1970, Due November 15, 1971 F e d e r a l R eserve B a n k o f N ew Y ork , Dated a t ................................................. Fiscal A gent of the U nited States, New York, N. Y. 10045 .....................................................................1970 Gentlem en : R eferring to subscription entered in the am ount of $................................................... fo r U nited States of A m erica 7% percent T reasury Notes of Series G-1971, the undersigned delivers the following securities herewith, w ith coupons detached : Face amount 5% % T reasury Notes of Series B-1970 .................................................................. $............................... 6% % T reasury Notes of Series C-1970 ................................................................... ............................... T otal...................... $........................... Subm itted by — ----------- ------------------------- --------------------------------------Address ------------------------------------------------------------------------------------------- SE C U R IT Y RECORDS “ I N T IC K E T ” Subscriber’s R eference No. FORM N -2 (S u b m it in tr ip lic a te ) Subscription N o. Securities Accompanying Subscription For United States of America 7% Percent Treasury Notes of Series G-1971 Dated May 15, 1970, Due November 15, 1971 F e d e r a l R eserve B a n k o f N ew Y ork , D ated a t ......................................................... Fiscal A gent of the U nited States, New York, N. Y. 10045 .....................................................................1970 Gentlem en : R eferring to subscription entered in the am ount of $................................................... for U nited States of Am erica 7% percent Treasury Notes of Series G-1971, the undersigned delivers the following securities herewith, w ith coupons detached: Face amount 5% % T reasury Notes of Series B-1970 ..................................................................... $............................... 6% % T reasury Notes of Series C-1970 ..................................................................... ................................ T o t a l ............................ $............................... (D o not fill in boxes b e lo w ) G o v e r n m e n t B o n d D iv i s i o n Received Checked Cancelled CONTROL COPY Subm itted by A d d r e s s .......... Subscriber’s Reference No. Subscription No. NON NEGOTIABLE R E C E IP T To Subscriber: F e d e r a l R e s e r v e B a n k o f N e w Y o r k , Fiscal A gent of the U nited States, hereby acknowledges receipt o f securities deposited in the am ount indicated below w ith subscription num bered as above in exchange f o r 73,4 P E R C E N T TR EA SU R Y NOTES OF S E R IE S G-1971 Securities allotted on this subscription will be delivered on May 15, 1970, in accordance w ith your instructions. Teller Government Bond Division— Issues & Redemption Section To xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx F e d e r a l R eserv e B a n k o f N e w Y ork , Face amount Fiscal Agent of the United States (D ate) You are hereby authorized to deliver to (N am e o f representative) 5 % % N otes, B -1 9 7 0 $ 6 % % N otes, C -1970 ................ T otal ........... ................. $. whose signature appears below, $.............................. .... par amount of securities issued pursuant to this subscription. Submitted by Address ........ Name .............................................................. ... (P lease print) (Official signature required) (Signature of authorized representative) To S u b scrib er: If securities are to be delivered over the counter at this Bank to your representative, the authority in the box to the left should be executed on the date of delivery.
@FedFRASER