View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States
r Circular No. 7 5 5 7
L January 23, 1975

~
1
J

AUCTION OF NOTES AND BONDS
T reasury Notes of Series D-1978 and C-1981
Treasury Bonds of 1995-2000
To A ll B a n kin g Institu tio n s, a n d O thers C oncerned,
in th e Second F ederal R eserve D istrict:

As announced in our Circular No. 7556, dated January 22, 1975, the Treasury will sell at
auction under competitive and noncompetitive bidding —
$3.0 billion of Treasury Notes of Series D-1978, dated and bearing interest from
February 18, 1975, maturing May 15, 1978;
$1.75 billion of Treasury Notes of Series C-1981, dated and bearing interest from
February 18, 1975, maturing February 15, 1981; and
$750 million of Treasury Bonds of 1995-2000, dated and bearing interest from
February 18, 1975, maturing February 15, 2000, callable at the option of the
United States on any interest payment date on and after February 15, 1995.
The terms of the offerings are set forth in Treasury D epartm ent Circulars Nos. 2-75, 3-75, and
4-75, Public D ebt Series, dated January 23, 1975; a copy of each is printed on the following pages.
This Bank will receive tenders — for the notes of Series D-1978 up to 1:30 p.m., Eastern
Standard time, Tuesday, January 28, 1975; for the notes of Series C-1981, up to 1:30 p.m.,
Eastern Standard time, W ednesday, January 29, 1975; and for the bonds, up to 1:30 p.m.,
Eastern Standard time, Thursday, January 30, 1975 — at the Securities D epartm ent of its H ead
Office and at its Buffalo Branch; provided, however, that noncompetitive tenders will be con­
sidered timely received if they are mailed to this Bank or its Branch under a postmark no later than
January 27 for the notes of Series D-1978, January 28 for the notes of Series C-1981, and January 29
for the bonds. Please use the enclosed tender forms to submit tenders, and return them in the
enclosed envelope marked “Tender for Treasury Notes or Bonds.” Tenders not requiring a deposit
may be subm itted by telegraph, subject to w ritten confirmation; no tenders may be subm itted
by telephone.
Settlement for accepted tenders must be completed on or before Tuesday, February 18, 1975,
except that paym ent for up to 50 percent of the amount of bonds allotted may be deferred until
March 3, 1975, under the conditions and procedures set forth in Section IV of Treasury Depart­
m ent Circular No. 4-75 (a copy of which is printed on the following pages). If partial paym ent
for the bonds is to be so deferred, the bidder must indicate in the paym ent instructions on the
tender form the amount of bonds allotted on which paym ent will be deferred, and for that amount
accrued interest, at the coupon yield established for the bonds, will be added to the price.
If settlem ent is made with m aturing securities, coupons dated February 15, 1975 on the
securities surrendered should be detached and cashed when due. If payment is made by check,
the check must be a certified personal check or an official bank check, payable on its face to the
Federal Reserve Bank of New York; checks endorsed to this Bank will not he accepted.




The notes and bonds will be auctioned on a yield basis, rather than the conventional price
basis. Competitive tenders for these new securities must be expressed in terms of an annual yield
in two decimal places, e.g., 7.11, rather than in terms of a price. Tenders at the lowest yields,
and noncompetitive tenders, will be accepted to the extent required to attain the amounts offered.
After a determination is made as to which tenders are accepted, a coupon yield will be determined
for each issue to the nearest Vs of 1 percent necessary to make the average accepted prices 100.00
or less. Those will be the rates of interest that will be paid on all of the securities of each issue.
Based on such interest rates, the price on each competitive tender allotted will be determined
and each successful competitive bidder will pay the price corresponding to the yield he bid. Price
calculations will be carried to three decimal places on the basis of price per hundred, e.g., 99.923,
and the determinations of the Secretary of the Treasury shall be final. Tenders at a yield that will
produce a price less than 99.251 for the notes of Series D-1978, 98.501 for the notes of Series C-1981,
and 9.3.751 for the bonds, will not be accepted.
Telephone inquiries regarding this offering may be made by calling Telephone No. 212-791-582.3,
212-791-6616, or 212-791-5465.
ALFRED HAYES,

President.

UNITED STATES OF AMERICA
TREASURY NOTES OF SERIES D-1978
Due May 15, 1978

Dated and bearing interest from February 18, 1975

DEPARTMENT OF THE TREASURY,
Office of the Secretary,

DEPARTMENT CIRCULAR

Washington, January 23, 1975.

Public Debt Serie•- No. 2-75

I.

II.

INVITATION FOR TENDERS

I. The notes will be dated February 18, 1975, and
will bear interest from that date, payable on a semiannual basis on November 15, 1975, and thereafter
on May 15 and ~ovember 15 in each year until the
principal amount becomes payable. They will mature
May !.5, 1978, and will not be subject to call for
redemption prior to maturity.

1. The Secretary of the Treasury, pursuant to the
authority of the Second Liberty Bond Act, as amended,
invites tenders on a yield basis for $3,000,000,000, or
thereabouts of notes of the United States, designated
Treasury Notes of Series J?-1978. The int~rest r~te
for the notes will be deterrmned as set forth m Section
III, paragraph 3, hereof. Additional amounts of. these
notes may be issued at the average price of accepted
tenders to Government accounts and to Federal Reserve Banks for themselves and as agents of foreign
and international monetary authorities. Tenders will
be received up to 1:30 p.m., Eastern Standard time,
Tuesday, January 28, 1975, under competitive and
noncompetitive bidding, as set forth in Section III
hereof. The 5% penent Treasury Notes of Series
A-1975 and 5% percent Treasury Notes of Series
E-1975 maturing February 15, 1975, will be accepted
at par 'in payment, in whole or in part, to the extent
tenders are allotted by the Treasury.




DESCRIPTION OF NOTES

2. The income derived from the notes is subject
to all taxes imposed under the Internal 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 hereafte;
imposed on the principal or interest thereof by any
State, or any of the possessions of the United 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
payment of taxes.

2

4. Bearer notes with interest coupons attached,
and notes registered as to principal and interest, will
be issued in denominations of $1,000, $5,000, $10,000,
$100,000 and $1,000,000. Book-entry notes will be
available to eligible bidders in multiples of those
amounts. Interchanges of notes of different denomina­
tions and of coupon and registered notes, and the
transfer of registered notes will be permitted.
5. The notes will be subject to the general regula­
tions of the Department of the Treasury, now or
hereafter prescribed, governing United States notes.
III.

TENDERS AND ALLOTMENTS

1. Tenders will be received at Federal Reserve
Banks and Branches and at the Bureau of the Public
Debt, Washington, D. C. 20226, up to the closing
hour, 1:30 p.m., Eastern Standard time, Tuesday,
January 28, 1975. Each tender must state the face
amount of notes bid for, which must be $1,000 or a
multiple thereof, and the yield desired, except that
in the case of noncompetitive tenders the term “non­
competitive” should be used in lieu of a yield. In
the case of competitive tenders, the yield must be
expressed in terms of an annual yield, with two deci­
mals, e.g., 7.11. Fractions may not be used. Noncom­
petitive tenders from any one bidder may not exceed
$500,000.
2. Commercial banks, which for this purpose are
defined as banks accepting demand deposits, and
dealers who make primary markets in Government
securities and report daily to the Federal Reserve
Bank of New York their positions with respect to
Government securities and borrowings thereon, may
submit tenders for account of customers provided the
names of the customers are set forth in such tenders.
Others will not be permitted to submit tenders except
for their own account. Tenders will be received with­
out deposit from banking institutions for their own
account, Federally-insured savings and loan associa­
tions, States, political subdivisions or instrumentalities
thereof, public pension and retirement and other
public funds, international organizations in which the
United States holds membership, foreign central banks
and fore’gn States, dealers who make primary markets
in Government securities and report daily to the Fed­
eral Reserve Bank of New York their positions with
respect to Government securities and borrowings
thereon, and Government accounts. Tenders from
others must be accompanied by payment (in cash,
or the securities referred to in Section I which will be
accepted at par) of 5 percent of the face amount of
notes applied for.
3. Immediately after the closing hour tenders will
be opened, following which public announcement will
be made by the Department of the Treasury of the
amount and yield range of accepted bids. Those sub­
mitting competitive tenders will be advised of the
acceptance or rejection thereof. In considering the
acceptance of tenders, those with the lowest yields
will be accepted to the extent required to attain the




amount offered. Tenders at the highest accepted yield
will be prorated if necessary. After the determination
is made as to which tenders are accepted, an interest
rate will be established at the nearest V of one per­
s
cent necessary to make the average accepted price
100.00 or less. That will be the rate of interest that
will be paid on all of the notes. Based on such interest
rate, the price on each competitive tender allotted will
be determined and each successful competitive bidder
will be required to pay the price corresponding to the
yield bid. Price calculations will be carried to three
decimal places on the basis of price per hundred, e.g.,
99.923, and the determinations of the Secretary of the
Treasury shall be final. The Secretary of the Treasury
expressly reserves the right to accept or reject any or
all tenders, in whole or in part, including the right to
accept tenders for more or less than the $3,000,000,000
of notes offered to the public, and his action in any
such respect shall be final. Subject to these reserva­
tions, noncompetitive tenders for $500,000 or less with­
out stated yield from any one bidder will be accepted
in full at the average price (in three decimals) of
accepted competitive tenders.
4. All bidders are required to agree not to purchase
or 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 after 1:30
p.m., Eastern Standard time, Tuesday, January 28,
1975.
5. Commercial banks in submitting tenders will be
required to certify that they have no beneficial interest
in any of the tenders they enter for the account of
their customers, and that their customers have no
beneficial interest in the banks’ tenders for their own
account.
IV. PAYMENT
1. Settlement for accepted tenders in accordance
with the bids must be made or completed on or before
February 18, 1975, at the Federal Reserve Bank or
Branch or at the Bureau of the Public Debt, Washing­
ton, D. C. 20226. Payment must be in cash, securities
referred to in Section I (interest coupons dated Feb­
ruary 15, 1975, should be detached), in other funds
immediately available to the Treasury by February 18,
1975, or by check drawn to the order of the Federal
Reserve Bank to which the tender is submitted, or the
United States Treasury if the tender is submitted to
it, which must be received at such Bank or at the
Treasury no later than: (1) Tuesday, February 11,
1975, if the check is drawn on a bank in the Federal
Reserve District of the Bank to which the check is
submitted, or the Fifth Federal Reserve District in
the case of the Treasury, or (2) Monday, February
10, 1975, if the check is drawn on a bank in another
district. Checks received after the dates set forth in
the preceding sentence will not be accepted unless
thev are payable at a Federal Reserve Bank. Payment
will not be deemed to have been completed where
registered notes are requested if the appropriate
identifying number as required on tax returns and

other documents submitted to the Internal Revenue
Service (an individual’s social security number or an
employer identification number) is not furnished. In
every case where full payment is not completed, the
payment with the tender up to 5 percent of the
amount of notes allotted shall, upon declaration made
by the Secretary of the Treasury in his discretion, be
forfeited to the United States. When payment is made
with maturing securities, a cash adjustment will be
made to or required of the bidder for any difference
between the face amount of securities submitted and
the amount payable on the notes allotted.

Series D-1978 in the name of (name and taxpayer
identifying number).” If notes in coupon form are
desired, the assignment should be to “The Secretary
of the Treasury for coupon Treasury Notes of Series
D-1978 to be delivered to ......................................... ”
Notes tendered in payment should be surrendered to
the Federal Reserve Bank or Branch or to the Bureau
of the Public Debt, Washington, D. C. 20226. The
notes must be delivered at the expense and risk of
the holder.

V. ASSIGNMENT OF REGISTERED NOTES

1. As fiscal agents of the United States, Federal
Reserve Banks are authorized and requested to receive
tenders, to make such allotments as may be prescribed
by the Secretary of the Treasury, to issue such notices
as may be necessary, to receive payment for and make
delivery of notes on full-paid tenders 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 supplemental or
amendatory rules and regulations governing the offer­
ing, which will be communicated promptly to the
Federal Reserve Banks.

VI. GENERAL PROVISIONS

1.
Registered notes tendered as deposits and in
payment for notes allotted hereunder are not required
to be assigned if the notes are to be registered in the
same names and forms as appear in the registrations
or assignments of the notes surrendered. Specific in­
structions for the issuance and delivery of the notes,
signed by the owner or his authorized representative,
must accompany the notes presented. Otherwise, the
notes should be assigned by the registered payees or
assignees thereof in accordance with the general regu­
lations governing United States securities as herein­
after set forth. Notes to be registered in names and
forms different from those in the inscriptions or assign­
ments of the notes presented should be assigned to
“The Secretary of the Treasury for Treasury Notes of

WILLIAM E. SIMON,
Secretary of the Treasury.

UNITED STATES OF AMERICA
TREASURY NOTES OF SERIES C-1981
D a te d a n d b e arin g in te rest from F e b ru a ry 18, 1975

D u e F e b ru a ry 15, 1981

DEPARTM ENT OF TH E TREASURY,
Office of the Secretary,
W ashington, January 23, 1975.

D E P A R T M E N T C IR C U L A R
Public D ebt Series — No. 3-75

I. INVITATION FOR TENDERS
1.
The Secretary of the Treasury, pursuant to the
authority of the Second Liberty Bond Act, as amended,
invites tenders on a yield basis for $1,750,000,000, or
thereabouts, of notes of the United States, designated
Treasury Notes of Series C-1981. The interest rate for
the notes will be determined as set forth in Section III,
paragraph 3 hereof. Additional amounts of these notes
may be issued at the average price of accepted tenders
to Government accounts and to Federal Reserve Banks
for themselves and as agents of foreign and inter­
national monetary authorities. Tenders will be received
up to 1:30 p.m., Eastern Standard time, Wednesday,
January 29, 1975, under competitive and noncompeti­
tive bidding, as set forth in Section III hereof. The
5% percent Treasury Notes of Series A-1975 and




4

57 percent Treasury Notes of Series E-1975, maturing
/s
February 15, 1975, will be accepted at par in payment,
in whole or in part, to the extent tenders are allotted
by the Treasury.
II.

DESCRIPTION OF NOTES

1. The notes will be dated February 18, 1975, and
will bear interest from that date, payable on a semi­
annual basis on August 15, 1975, and thereafter on
February 15 and August 15 in each year until the
principal amount becomes payable. They will mature
February 15, 1981, and will not be subject to call for
redemption prior to maturity.
2. The income derived from the notes is subject
to all taxes imposed under the Internal Revenue Code

3. Immediately after the closing hour tenders will
be opened, following which public announcement will
be made by the Department of the Treasury of the
amount and yield range of accepted bids. Those sub­
mitting competitive tenders will be advised of the
acceptance or rejection thereof. In considering the
acceptance of tenders, those with the lowest yields
will be accepted to the extent required to attain the
amount offered. Tenders at the highest accepted yield
will be prorated if necessary. After the determination
is made as to which tenders are accepted, an interest
rate will be established at the nearest Vs of one per­
cent necessary to make the average accepted price
100.00 or less. That will be the rate of interest that
will be paid on all of the notes. Based on such interest
rate, the price on each competitive tender allotted will
be determined and each successful competitive bidder
will be required to pay the price corresponding to the
yield bid. Price calculations will be carried to three
decimal places on the basis of price per hundred, e.g.,
99.923, and the determinations of the Secretary of the
Treasury shall be final. The Secretary of the Treasury
expressly reserves the right to accept or reject any or
all tenders, in whole or in part, including the right to
accept tenders for more or less than the $1,750,000,000
of notes offered to the public, and his action in any
such respect shall be final. Subject to these reserva­
tions, noncompetitive tenders for $500,000 or less with­
out stated yield from any one bidder will be accepted
in full at the average price (in three decimals) of
accepted competitive tenders.

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 United 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
ment of taxes.
4. Bearer notes with interest coupons attached, and
notes registered as to principal and interest, will be
issued in denominations of $1,000, $5,000, $10,000,
$100,000 and $1,000,000. Book-entry notes will be
available to eligible bidders in multiples of those
amounts. Interchanges of notes of different denomina­
tions and of coupon and registered notes, and the
transfer of registered notes will be permitted.
5. The notes will be subject to the general regula­
tions of the Department of the Treasury, now or here­
after prescribed, governing United States notes.
III.

TENDERS AND ALLOTMENTS

1. Tenders will be received at Federal Reserve
Banks and Branches and at the Bureau of the Public
Debt, Washington, D. C. 20226, up to the closing hour,
1:30 p.m., Eastern Standard time, Wednesday, January
29, 1975. Each tender must state the face amount of
notes bid for, which must be $1,000 or a multiple
thereof, and the yield desired, except that in the case
of noncompetitive tenders the term “noncompetitive”
should be used in lieu of a yield. In the case of com­
petitive tenders, the yield must be expressed in terms
of an annual yield, with two decimals, e.g., 7.11. Frac­
tions may not be used. Noncompetitive tenders from
any one bidder may not exceed $500,000.

4. All bidders are required to agree not to pur­
chase or 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
after 1:30 p.m., Eastern Standard time, Wednesday,
January 29, 1975.
5. Commercial banks in submitting tenders will be
required to certify that they have no beneficial inter­
est in any of the tenders they enter for the account
of their customers, and that their customers have no
beneficial interest in the banks’ tenders for their own
account.

2. Commercial banks, which for this purpose are
defined as banks accepting demand deposits, and
dealers who make primary markets in Government
securities and report daily to the Federal Reserve Bank
of New York their positions with respect to Govern­
ment securities and borrowings thereon, may submit
tenders for account of customers provided the names
of the customers are set forth in such tenders. Others
will not be permitted to submit tenders except for
their own account. Tenders will be received without
deposit from banking institutions for their own
account, Federally-insured savings and loan associa­
tions, States, political subdivisions or instrumentalities
thereof, public pension and retirement and other public
funds, international organizations in which the United
States holds membership, foreign central banks and
foreign States, dealers who make primary markets in
Government securities and report daily to the Federal
Reserve Bank of New York their positions with respect
to Government securities and borrowings thereon, and
Government accounts. Tenders from others must be
accompanied by payment (in cash or the securities
referred to in Section I which will be accepted at p ar)
of 5 percent of the face amount of notes applied for.




IV. PAYMENT
1.
Settlement for accepted tenders in accordance
with the bids must be made or completed on or before
Tuesday, February 18, 1975, at the Federal Reserve
Bank or Branch or at the Bureau of the Public Debt.
Payment must be in cash, securities referred to in
Section I (interest coupons dated February 15, 1975,
should be detached), in other funds immediately avail­
able to the Treasury by February 18, 1975, or by check
drawn to the order of the Federal Reserve Bank to
which the tender is submitted, or the United States
Treasury if the tender is submitted to it, which must
be received at such bank or at the Treasury no later
than: (1) Tuesday, February 11, 1975, if the check
is drawn on a bank in the Federal Reserve District of
the Bank to which the check is submitted, or the
Fifth Federal Reserve District in case of the Treasury,
5

or (2) Monday, February 10, 1975, if the check is
drawn on a bank in another district. Checks received
after the dates set forth in the preceding sentence will
not be accepted unless they are payable at a Federal
Reserve Bank. Payment will not be deemed to have
been completed where registered notes are requested
if the appropriate identifying number as required on
tax returns and other documents submitted to the
Internal Revenue Service ( an individual’s social
security number or an employer identification number)
is not furnished. In every case where full payment is
not completed, the payment with the tender up to
5 percent of the amount of notes allotted shall, upon
declaration made by the Secretary of the Treasury in
his discretion, be forfeited to the United States. When
payment is made with securities, a cash adjustment
will be made to or required of the bidder for any
difference between the face amount of securities sub­
mitted and the amount payable on the notes allotted.
V. ASSIGNMENT OF REGISTERED NOTES
1.
Registered notes tendered as deposits and in
payment for notes allotted hereunder are not required
to be assigned if the notes are to be registered in the
same names and forms as appear in the registrations
or assignments of the notes surrendered. Specific
instructions for the issuance and delivery of the notes,
signed by the owner or his authorized representative,
must accompany the notes presented. Otherwise, the
notes should be assigned by the registered payees or
assignees thereof in accordance with the general regu­
lations governing United States securities, as herein­

after set forth. Notes to be registered in names and
forms different from those in the inscriptions or assign­
ments of the notes presented should be assigned to
“The Secretary of the Treasury for Treasury Notes
of Series C-1981 in the name of (name and taxpayer
identifying number).” If notes in coupon form are
desired, the assignment should be to “The Secretary
of the Treasury for coupon Treasury Notes of Series
C-1981 to be delivered to ........................................ / ’
Notes tendered in payment should be surrendered to
the Federal Reserve Bank or Branch or to the Bureau
of the Public Debt, Washington, D. C. 20226. The
notes must be delivered at the expense and risk of the
holder.
VI. GENERAL PROVISIONS
1. As fiscal agents of the United States, Federal
Reserve Banks are authorized and requested to receive
tenders, to make such allotments as may be prescribed
by the Secretary of the Treasury, to issue such notices
as may be necessary, to receive payment for and make
delivery of notes on full-paid tenders 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 supplemental or
amendatory rules and regulations governing the offer­
ing, which will be communicated promptly to the
Federal Reserve Banks.
WILLIAM E. SIMON,
Secretary of the Treasury.

UNITED STATES OF AMERICA
TREASURY BONDS OF 1995-2000
D a te d an d b e arin g in terest from F e b ru a ry 18, 1975

D u e F e b ru a ry 15, 2000

REDEEM ABLE AT THE OPTION OF THE U N IT E D STATES AT PAR A N D ACCRUED
INTEREST ON AN D AFTER FEBRUARY 15, 1995

D E P A R T M E N T C IR C U L A R
Public D ebt Series — No. 4-7 5

I. INVITATION FOR TENDERS
1.
The Secretary of the Treasury, pursuant to the
authority of the Second Liberty Bond Act, as amended,
invites tenders on a yield basis for $750,000,000, or
thereabouts, of bonds of the United States, desig­
nated Treasury Bonds of 1995-2000. The interest rate
for the bonds will be determined as set forth in Section
III, paragraph 3, hereof. Additional amounts of these
bonds may be issued at the average price of accepted
tenders to Government accounts and to Federal Re­
serve Banks for themselves and as agents of foreign
and international monetary authorities. Tenders will be
received up to 1:30 p.m., Eastern Standard time,




DEPARTM ENT O F TH E TREASURY,
Office of the Secretary,
Washington, January 23, 1975.
Thursday, January 30, 1975, under competitive and
noncompetitive bidding, as set forth in Section III
hereof. The 5% percent Treasury Notes of Series
A-1975 and 57 percent Treasury Notes of Series E/s
1975 maturing February 15, 1975, will be accepted at
par in payment, in whole or in part, to the extent
tenders are allotted by the Treasury.
2.
Deferred payment for 50 percent of the amount
of bonds allotted may be made as provided in Section
IV hereof. Delivery of bearer bonds will be made on
February 18, 1975, except that delivery of that portion
of the bonds on which payment is deferred will be
made on March 3, 1975.

II.

DESCRIPTION OF BONDS

names of the customers are set forth in such tenders.
Others than commercial banks will not be permitted to
submit tenders except for their own account. Tenders
will be received without deposit from banking institu­
tions for their own account, Federally-insured savings
and loan associations. States, political subdivisions or
instrumentalities theieof, public pension and retire­
ment and other public funds, international organiza­
tions in which the United States holds membership,
foreign central banks and foreign States, dealers who
make primary markets in Government securities and
report daily to the Federal Reserve Bank of New York
their positions with respect to Government securities
and borrowings thereon, and Government accounts.
Tenders from others must be accompanied by payment
(in cash or the notes referred to in Section I which will
be accepted at par) of 5 percent of the face amount of
bonds applied for.
3. Immediately after the closing hour tenders will
be opened, following which public announcement will
be made by the Department of the Treasury of the
amount and yield range of accepted bids. Those sub­
mitting competitive tenders will be advised of the
acceptance or rejection thereof. In considering the
acceptance of tenders, those with the lowest yields
will be accepted to the extent required to attain the
amount offered. Tenders at the highest accepted yield
will be prorated if necessary. After the determination
is made as to which tenders are accepted, an interest
rate will be established at the nearest Vs of one per­
cent necessary to make the average accepted price
100.00 or less. That will be the rate of interest that
will be paid on all of the bonds. Based on such inter­
est rate, the price on each competitive tender allotted
will be determined and each successful competitive
bidder will be required to pay the price corresponding
to the yield bid. Price calculations will be carried to
three decimal places on the basis of price per hundred,
e.g., 99.923, and the determinations of the Secretary
of the Treasury shall be final. The Secretary of the
Treasury expressly reserves the right to accept or reject
any or all tenders, in whole or in part, including the
right to accept tenders for more or less than the
$750,000,000 of bonds offered to the public, and his
action in any such respect shall be final. Subject to
these reservations, noncompetitive tenders for $500,000
or less without stated yield from any one bidder will
be accepted in full at the average price (in three
decimals) of accepted competitive tenders.
4. All bidders are required to agree not to pur­
chase or sell, or to make any agreements with respect
to the purchase or sale or other disposition of any
bonds of this issue at a specific rate or price, until
after 1:30 p.m., Eastern Standard time, Thursday,
January 30, 1975.
5. Commercial banks in submitting tenders will be
required to certify that they have no beneficial inter­
est in any of the tenders they enter for the account
of their customers, and that their customers have no
beneficial interest in the banks’ tenders for their own
accounts.

1. The bonds will be dated February 18, 1975, and
will bear interest from that date, payable on a semi­
annual basis on August 15, 1975, and thereafter on
February 15 and August 15 in each year until the
principal amount becomes payable. They will mature
February 15, 2000, but may be redeemed at the option
of the United States on and after February 15, 1995,
in whole or in part, at par and accrued interest on any
interest day or days, on 4 months’ notice of redemption
given in such manner as the Secretary of the Treasury
shall prescribe. In case of partial redemption, the
bonds to be redeemed will be determined by such
method as may be prescribed by the Secretary of the
Treasury. From the date of redemption designated in
any such notice, interest on the bonds called for re­
demption shall cease.
2. The income derived from the bonds is subject
to all taxes imposed under the Internal Revenue Code
of 1954. The bonds are subject to estate, inheritance,
gift or other excise taxes, whether Federal or State,
but are exempt from all taxation now or hereafter im­
posed on the principal or interest thereof by any State,
or any of the possessions of the United States, or by
any local taxing authority.
3. The bonds will be acceptable to secure deposits
of public moneys. They will not be acceptable in pay­
ment of taxes.
4. Bearer bonds with interest coupons attached,
and bonds registered as to principal and interest, will
be issued in denominations of $1;000, $5,000, $10,000,
$100,000 and $1,000,000. Book-entry bonds will be
available to eligible bidders in multiples of those
amounts. Interchanges of bonds of different denomina­
tions and of coupon and registered bonds, and the
transfer of registered bonds, will be permitted.
5. The bonds will be subject to the general regula­
tions of the Department of the Treasury, now or here­
after prescribed, governing United States bonds.
III.

TENDERS AND ALLOTMENTS

1. Tenders will be received at Federal Reserve
Banks and Branches and at the Bureau of the Public
Debt, Washington, D. C. 20226, up to the closing hour,
1:30 p.m., Eastern Standard time, Thursday, January
30, 1975. Each tender must state the face amount of
bonds bid for, which must be $1,000 or a multiple
thereof, and the yield desired, except that in the case
of noncompetitive tenders the term “noncompetitive”
should be used in lieu of a yield. In the case of com­
petitive tenders, the yield must be expressed in terms
of an annual yield with two decimals, e.g., 7.11. Frac­
tions may not be used. Noncompetitive tenders from
any one bidder may not exceed $500,000.

2. Commercial banks, which for this purpose are
defined as banks accepting demand deposits, may sub­
mit tenders for account of customers provided the




7

IV. PAYMENT FOR AND DELIVERY OF BONDS

V.

1.
Registered notes tendered as deposits and in
payment for bonds allotted hereunder are not required
to be assigned if the bonds are to be registered in the
same names and forms as appear in the registrations or
assignments of the notes surrendered. Specific instruc­
tions for the issuance and delivery of the bonds, signed
by the owner or his authorized representative, must
accompany the notes presented. Otherwise, the notes
should be assigned by the registered payees or as­
signees thereof in accordance with the general regula­
tions governing United States securities, as hereinafter
set forth. Bonds to be registered in names and forms
different from those in the inscriptions or assignments
of the notes presented should be assigned to “The
Secretary of the Treasury for Treasury Bonds of 19952000 in the name of (name and taxpayer identifying
number).” If bonds in coupon form are desired, the
assignment should be to “The Secretary of the
Treasury for coupon Treasury Bonds of 1995-2000 to
be delivered t o ..................................” Notes tendered
in payment should be surrendered to the Federal
Reserve Bank or Branch or to the Bureau of the Public
Debt, Washington, D. C. 20226. The notes must be
delivered at the expense and risk of the holder.

1. Settlement for accepted tenders in accordance
with the bids must be made or completed on or before
February 18, 1975, at the Federal Reserve Bank or
Branch or at the Bureau of the Public Debt, except
that a bidder may elect to defer payment for not more
than 50 percent of the amount of bonds allotted until
March 3, 1975. Payment must be in cash, notes re­
ferred to in Section I (interest coupons dated Febru­
ary 15, 1975, should be detached), in other funds
immediately available to the Treasury by February 18,
or by check drawn to the order of the Federal Reserve
Bank to which the tender is submitted, or the United
States Treasury if the tender is submitted to it, which
must be received at such Bank or at the Treasury no
later than: (1) Tuesday, February 11, 1975, if the
check is drawn on a bank in the Federal Reserve
District of the Bank to which the check is submitted,
or the Fifth Federal Reserve District in the case of
the Treasury, or (2) Monday, February 10, 1975, if
the check is drawn on a bank in another district.
Checks received after the dates set forth in the pre­
ceding sentence will not be accepted unless they are
payable at a Federal Reserve Bank. Accrued interest
from February 18 to March 3, 1975, will be charged
on the face amount of bonds on which payment is
deferred, at the coupon yield established for the
bonds. Where partial payment for bonds allotted is
to be deferred, delivery of 5 percent of the total par
amount of bonds allotted, adjusted to the next higher
$ 1,000 , will be withheld from all bidders required to
submit a 5 percent payment with tenders, until pavment for the total amount allotted has been completed.
Payment will not be deemed to have been completed
where registered bonds are requested if the appro­
priate identifying number as required on tax returns
and other documents submitted to the Internal Rev­
enue Service (an individual’s social security number
or an employer identification number) is not fur­
nished. Tn every case where full payment is not com­
pleted, the payment with the tender up to 5 nercent
of the amount of bonds allotted shall, upon declara­
tion made by the Secretary7 of the Treasury in his
discretion, be forfeited to the United States. When
navment is made with notes, a cash adjustment will
be made to or required of the bidder for anv difference
between the face amount of notes submitted and the
amount payable on the bonds allotted.




ASSIGNMENT OF REGISTERED NOTES

VI. GENERAL PROVISIONS
1. As fiscal agents of the United States, Federal
Reserve Banks are authorized and requested to receive
tenders, to make such allotments as may be prescribed
by the Secretary of the Treasury, to issue such notices
as may be necessary, to receive payment for and make
delivery of bonds on full-paid tenders allotted, and
they may issue interim receipts pending delivery of
the definitive bonds.

2. The Secretary of the Treasury may at any time,
or from time to time, prescribe supplemental or amend­
atory rules and regulations governing the offering,
which will be communicated promptly to the Federal
Reserve Banks.

WILLIAM E. SIMON,
Secretary of the Treasury.

8

IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Thursday, January 30, 1975.

TENDER FOR TREASURY BONDS OF 1995-2000
Dated February 18, 1975

Due February 15, 2000

Dated at
Fiscal Agent of the United States,
.............
NeW York, N. Y. 10045
.,19.
Pursuant to the provisions of Treasury Department Circular No. 4-75, Public Debt Series, dated
January 23, 1975, the undersigned hereby offers to purchase United States of America Treasury Bonds of
1995-2000 in the amount indicated below, and agrees to make payment therefor at your Bank on or before
the issue date at the price awarded on this tender (plus accrued interest at the coupon yield on payment
deferred until March 3).
Do not fill in both Competitive and
COMPETITIVE TENDER
NONCOMPETITIVE TENDER
Noncompetitive tenders on one form
F e d e r a l R eserv e B a n k o f N e w Y o r k ,

$ .................................................... (maturity value)
or any lesser amount that may be awarded.
Y ield :.........

$ ................................................... (maturity value)
(Not to exceed $500,000 for one bidder through all sources)
at the average price of accepted competitive bids.

(Y ield m u st b e expressed w ith not m ore
th a n tw o d e cim a l places, fo r exam ple, 7 .1 1 )

Subject to allotment please issue, deliver, and accept payment for the bonds as indicated below and on
the reverse side (if registered bonds are desired, please also complete schedule on reverse side):
P ieces

D e n o m in a tio n
$

M a tu rity valu e

1 ,0 0 0

5,000

□

1. D e liv e r over th e c o u n te r to th e
u n d e rsig n ed

□ 2.

S hip to th e u n d e rsig n ed

□

3.

H o ld in safek eep in g (fo r m em ­
b e r b a n k o n ly ) in —
□
In v e stm e n t A ccount
□
G eneral A ccount
□
T ru st A ccount

□

4.

H o ld as co llateral for T reasu ry
Tax a n d L o an A ccount*

□

5.

Special instructions:

1 0 ,0 0 0
1 0 0 ,0 0 0
1 , 0 0 0 ,0 0 0

T o tals
°

P a y m en t w ill be m ad e as follow s:
□
By c h arg e to ou r reserve account
□
By cash or check in im m e d ia te ly
available fu n d s
□
By cash or check in funds
availab le b y M arch 3 for
............(p a r v a lu e ) of bonds
□
By su rre n d e r of m atu rin g secu­
rities as in d ic a te d in official
c irc u la r

The undersigned certifies that the allotted bonds w ill be ow ned solely by the undersigned.

We hereby agree not to buy or to sell, or to make any agreements with respect to the purchase or sale
or other disposition of any bonds of this issue at a specific rate or price, until after one-thirty p.m., Eastern
Standard time, Thursday, January 30,1975.
( If a com m ercial b a n k is su b scrib in g fo r its ow n a cc o u n t or fo r a cc o u n t of custom ers, th e follow ing certifications
are m ad e a p a rt of this te n d e r .)
W e H e r e b y C e r t if y that we have received tenders from our customers in the amounts set opposite the
customers’ names on the list which is made a part of this tender; that there has been paid to us by each
such customer as required by the official offering circular, not subject to withdrawal until after allotment,
not less than 5 percent of the amount bid for; that we have not made unsecured loans, or loans collateralized
in whole or in part by the bonds bid for, to supply the amounts of such payments to any of such customers;
that we have no beneficial interest in the tenders of such customers; and that none of our customers has
any beneficial interest in the amount bid for our own account.
W e F u r t h e r C e r t if y that tenders received by us, if any, from other commercial banks for their own
account and for the account of their customers have been entered with us under the same conditions, agree­
ments, and certifications as set forth in this form.

(N am e of subscriber — please print or type)

Insert this tender in
special envelope marked
“Tender for Treasury
Notes or Bonds'

(Address — incl. City and State)

(T el. N o.)

(Signature of subscriber or authorized signature)

(T itle of authorized signer)

(B anking institu tio n s su b m ittin g ten d e rs for custom er a cc o u n t m u st list cu sto m ers’ nam es on lines b e lo w or on an a tta ch e d rider)

(N am e o f custom er)

(N am e of customer)

IN S T R U C T IO N S :
1.
v a lu e ).

N o te n d e r for less th a n $1,000 w ill b e considered; an d e ac h te n d e r m ust b e fo r a m u ltip le of $1,000 (m atu rity

2. O nly b a n k in g institutions, a n d dealers w ho m ake p rim a ry m ark e ts in G o v ern m en t securities a n d re p o rt daily to this
B ank th e ir p ositions w ith re sp e c t to G o v ern m en t securities a n d borrow ings thereon, m ay su b m it tenders for custom er account;
in do in g so, th ey m ay consolidate co m p etitiv e ten d e rs at th e sam e yield a n d m ay consolidate non co m p etitiv e ten d ers, p rovided
a list is a tta c h e d sh ow ing th e n a m e of e ac h b id d e r a n d th e am o u n t b id for his account. O thers w ill n o t be p e rm itte d to
su b m it ten d e rs except for th e ir ow n account.
3. I f th e person m ak in g th e te n d e r is a c o rporation, th e te n d e r should b e signed b y an officer of th e corporation a u th o r­
ized to m ake th e te n d e r, a n d th e signing of th e te n d e r by a n officer of th e co rp o ratio n will be co n stru ed as a represen tatio n
b y him th a t h e has b e en so au th o rize d . If th e te n d e r is m ad e b y a p a rtn e rsh ip , it should b e signed b y a m em b er of th e
firm, w ho sh o u ld sign in th e fo rm “ ............................. .................................................................... , a c o p artn ersh ip , b y .....................................
......................................................... a m em b e r of th e firm .”
4 . T e n d e rs w ill b e receiv ed w ith o u t deposit from com m ercial a n d o th er banks for th e ir ow n account, F ed erally -in su red
savings a n d loan associations, S tates, political subdivisions or in stru m e n talities th ereo f, p u b lic pension a n d re tire m e n t a n d o th er
p u b lic fu n d s, in te rn atio n al o rganizations in w h ich th e U n ited S tates holds m em bership, foreign c en tra l banks a n d foreign
S tates, d ealers w ho m ak e p rim a ry m ark ets in G o v e rn m en t securities a n d re p o rt d aily to th e F e d e ra l R eserve B ank o f N ew York
th eir positions w ith re sp e c t to G o v ern m en t securities a n d borrow ings thereon, a n d G o v ern m en t accounts. T en d ers from others
m u st b e a cco m p an ied b y p a y m e n t o f 5 p e rc e n t o f th e face a m o u n t of securities ap p lie d for. All checks m u st b e d ra w n to the
o rd e r of th e F e d e ra l R eserve B ank of N ew York; checks e n d o rsed to this B ank w ill n o t be accep ted .

5. U n d e r c erta in conditions, p a rtia l p a y m e n t for th e bonds m ay be d e fe rre d un til M arch 3, 1975; p ro ced u res for doing
so are co n ta in ed in th e official offering circular.
6.

If th e lan g u a g e of this te n d e r is c h an g ed in any respect, w hich, in th e opinion of th e S ecretary of th e T reasury

m ate ria l, th e te n d e r m ay be disreg ard ed .
is


SUBSCRIPTION NO.

SCHEDULE FOR ISSUE OF REGISTERED TREASURY BONDS OF 1995-2000
D E L IV E R Y INSTRUCTIO NS

FOR FRB USE O N L Y

]

| D E L IV E R O V E R T H E C O U N T E R

|

S U B S C R IB E R

1 S H IP T O S U B S C R IB E R

T R A N S . A C C O U N T IN G
S IG N A T U R E

Q

00

O T H E R IN S T R U C T IO N S :

ISSUE AGENT 12

ADDRESS

FEB. 18, 1975

Z IP

IN T E R E S T COMP.
NO.

R E G I S T R A T I O N

IN S T R U C T IO N S

Of

P IECES

D EN 0M .

AM OUNT

DATE

SERIAL NOS.
(LEAVE BLANK)

FO R

FR B

USE

DATE

LO AN CODE

to

w w d
O
CD
CD
O
OQ
fc '-H
ft O K
*
&
s - a S

» no -o r

O N L Y

CD

P-

1 .0 0 0

N A M E (S )

05

0" ?•'
+
CD

5 .0 0 0

5 >
> IQ
1

38

1 00 .00 0

I
a,

42

1 .0 0 0 ,0 0 0

99

TOTAL

3?
34
ID O R S .S . N O .
ADDRESS
Z IP

30

1 0 .0 0 0

38

1 0 0 ,0 0 0

42

1 .0 0 0 ,0 0 0

99

total

ID O R S .S . N O .
ADDRESS

? ^
»d 8

5 ,0 0 0

34

I Icr
c

C ASE NO.

1 .0 0 0

32

N A M E (S )

8 as
TR

O C
D
C/5

CD 05
Z IP

30

N A M E (S )

TR

C ASE NO.

1 ,0 0 0

32

5 ,0 0 0

34

4?

H

o

Z IP

99

total

30

1 0 ,0 0 0

3R

1 0 0 ,0 0 0

42_

ADDRESS
Z IP

99
30

N A M E (S )

1 ,0 0 0 ,0 0 0
total

T R . C A S E NO.

1 ,0 0 0

32

iXM!

34

ID O R S .S . N O .

NO.

5 .0 0 0

34
ID O R S .S . N O .

T R ..C A S E

1 .0 0 0

32

N A M E (S )

1.' fV ’f!
1 0 0 .0 0 0

ADDRESS




42
Z IP

1 .0 0 0 ,0 0 0

99

TOTAL

o

O o
fci
e P=
P
rt
CD

1 .0 0 0 ,0 0 0

T R . CASE NO.

K)

□

CD

1 0 0 .0 0 0

ADDRESS

U

CD

H

S' S'

tt* D
Q O
£L
$
3.
P 8 aOQ
a 8
o
o
cT
f
g
§
>
0
n O O
®
■
“*

s
oS
3
cr
»
tt)

P

1 8
o sr

□ □ □ □ □
X X K d d d
a. P-i e,j CD & <L
a (H t=f CD t=
?
Oj
C <

1 0 .0 0 0

ID O R S .S . N O .

<1

Hi
»
hi
0
W
H
>
Z
H
1

CD

o
S'
(S
>

f—
j

2

*3

®s
s i
§ a
BP
H-i
P
fffe
P g

*>
■
O
>
<
3
p
rt*
h-<»

o

S
3
>
-«
ft
►
fi
S
3
<
d
C■
/5
(-*
CU
cr
o*
i—

o

3

IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Wednesday, January 29, 1975.

TENDER FOR TREASURY NOTES OF SERIES C-1981
Dated February 18, 1975

Due February 15, 1981
Dated a t ......................................

F e d e r a l R e se r v e B a n k o f N e w Y ork,
F is c a l Agent of the United States,
New York, N . Y. 10045

19.

Pursuant to the provisions of Treasury Department Circular No. 3-75, Public Debt Series, dated
January 23, 1975, the undersigned hereby offers to purchase United States of America Treasury Notes of
Series C-1981 in the amount indicated below, and agrees to make payment therefor at your Bank on or
before the issue date at the price awarded on this tender.
COMPETITIVE TENDER

Do not fill in both Competitive and
Noncompetitive tenders on one form

$ .................................................... (maturity value)
or any lesser amount that may be awarded.
Y ield:.........

NONCOMPETITIVE TENDER

S...................................................

(maturity value)

(N o t to exceed $500,000 fo r one b id d er through all sources)
a t th e

average price of accepted competitive bids.

(Y ield m u st be expressed w ith not m ore
than tw o d e cim a l places, fo r exam ple, 7 .1 1 )

Subject to allotment please issue, deliver, and accept payment for the notes as indicated below and on
the reverse side (if registered notes are desired, please also complete schedule on reverse side):
P ieces

D e n o m in a tio n
$

M a tu rity valu e

1 ,0 0 0

5,000

□

1. D eliv er over th e c o u n ter to the
u n d e rsig n ed

□ 2.

S hip to th e u n d ersig n ed

□

H old in safek eep in g (fo r m em ­
b e r b a n k o n ly ) in —

3.

□
□
□

1 0 ,0 0 0
1 0 0 ,0 0 0
1 ,0 0 0 ,0 0 0

T otals

□ 4.

In v e stm e n t A ccount
G eneral A ccount
T ru st A ccount

P a y m en t w ill b e m ad e as follow s:
□
By charge to o ur reserve account
□
By cash or check in im m ed ia tely
available fu n d s
□
By su rre n d er of m atu rin g secu­
rities as in d ic a te d in official
circu lar
□ 5- Special instructions:

H o ld as co llateral to r lre a s u ry
T ax a n d L oan A ccount*

(N o changes in d e liv ery instructions
w ill be a c cep ted )

9 T h e u n d e rsig n ed certifies th a t th e a llo tte d notes w ill b e ow ned solely by th e u ndersigned.

We hereby agree not to buy 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 after one-thirty p.m., Eastern
Standard time, Wednesday, January 29,1975.
( If a com m ercial b a n k is su bscribing for its ow n a cc o u n t or for a cc o u n t of custom ers, th e follow ing certifications
are m ad e a p a rt of this te n d e r .)
W e H e r e b y C e r t if y that we have received tenders from our customers in the amounts set opposite the
customers’ names on the list which is made a part of this tender; that there has been paid to us by each
such customer as required by the official offering circular, not subject to withdrawal until after allotment,
not less than 5 percent of the amount bid for; that we have not made unsecured loans, or loans collateralized
in whole or in part by the notes bid for, to supply the amounts of such payments to any of such customers;
that we have no beneficial interest in the tenders of such customers; and that none of our customers has
any beneficial interest in the amount bid for our own account.
W e F u r t h e r C e r t if y that tenders received by us. if any, from other commercial banks for their own
account and for the account of their customers have been entered with us under the same conditions, agree­
ments, and certifications as set forth in this form.

(N am e of subscriber — please print or type)

Insert this tender in
special envelope marked
“Tender for Treasury
Notes or Bonds”

(Address — incl. City and State)

•

(T el. N o.)

(Signature of subscriber or authorized signature)

( T itle of authorized signer)

(B anking in stitu tio n s su b m ittin g ten d e rs for custom er a cc o u n t m u st list custom ers’ nam es on lines belo w or on an a tta ch e d rider)

(N am e o f custom er)

(N am e of custom er)

IN S T R U C T IO N S :
1.
v a lu e ).

No te n d e r for less th a n $1,000 w ill b e co nsidered; a n d e ach te n d e r m ust be for a m u ltip le of $1,000 (m atu rity

2. O nly b a n k in g institutions, a n d dealers w ho m ake p rim a ry m ark e ts in G o v ern m en t securities a n d re p o rt daily to this
B ank th e ir p ositions w ith re sp ec t to G overnm ent securities a n d borrow ings thereon, m ay subm it ten d ers for custom er account;
in doing so, th ey m ay consolidate com petitive ten d ers at th e sam e yield a n d m ay consolidate n o ncom petitive ten d ers, provided
a list is a tta c h e d show ing th e n a m e of e ac h b id d e r a n d the am o u n t b id for his account. O thers w ill n o t be p e rm itte d to
su b m it ten d ers except for th e ir ow n account.
3. If th e person m aking th e te n d e r is a c orporation, th e te n d e r should be signed by an officer of th e corporation a u th o r­
ized to m ake th e ten d e r, a n d th e signing of th e te n d e r b y an officer of th e c orporation will b e c o n stru ed as a represen tatio n
by him th a t h e has b e en so a u th o rize d . If th e te n d e r is m ad e b y a p a rtn e rsh ip , it sho u ld be signed by a m em b er of the
firm, w h o sho u ld sign in th e form “ ........................................................................................................ a c o p artn ersh ip , b y ....................................
’ .............................................. . a m em b e r o f th e firm .”
4 . T e n d e rs will b e received w ith o u t deposit from com m ercial an d o th er banks for th eir ow n account, F ed erally -in su red
savings a n d loan associations, States, political subdivisions or instru m en talities th ere o f, p u b lic pension a n d re tire m e n t a n d o th er
p u b lic funds, in te rn atio n al o rganizations in w h ich th e U nited S tates holds m em b ersh ip , foreign c en tra l banks a n d foreign
S tates, dealers w ho m ake p rim a ry m ark ets in G o v ern m en t securities a n d re p o rt d aily to th e F e d e ra l R eserve B ank of N ew York
th eir positions w ith re sp ec t to G o v ern m en t securities an d borrow ings thereon, a n d G ov ern m en t accounts. T en d ers from others
m u st b e a cco m p an ied b y p a y m e n t o f 5 p e rc e n t of th e face a m o u n t o f securities ap p lie d for. All checks m u st b e d ra w n to the
o rd e r of th e F e d e ra l R eserve B ank of N ew York; checks en d o rsed to this Bank w ill n o t b e accepted.

5.

If th e lan g u a g e of this te n d e r is ch an g e d in an y resp ect, w hich, in th e opinion of th e S ecretary of th e T reasury

is
 m aterial, th e te n d e r m ay b e d isreg ard ed .


SUBSCRIPTION NO.

SCHEDULE FOR ISSUE OF REGISTERED TREASURY NOTES OF SERIES C-1981
D E L I V E R Y INSTRUCT IONS
S U B S C R IB E R

□

de

FOR FRB USE O NL Y

L IV E R O V E R T H E C O U N T E R
T R A N S . A C C O U N T IN G

|

S IG N A T U R E _

f [ 3 O T H E :R IN S T R U C T IO N S :

ISSUE AGENT 12
FEB. 18, 1975

Z IP

I N T E R E S T COMP.

R E G I S T R A T I O N

IN S T R U C T IO N S

AMOUNT

DENOM.

05

00

ADDRESS

NO. OF
PIECES

DATE

I S H IP T O S U B S C R IB E R

SERIAL NOS.
(LEAVE BLANK)

FO R

FR B

USE

DATE

□

□

LO AN CODE

W
o
0

» n o-o r

1

O N L Y

Q

1 .0 0 0
32

a" S
*
CD

38

>

1 .0 0 0 .0 0 0

99

TOTAL

30

TR

lc icr

C ASE NO.

1 0 .0 0 0

ID O R S .S . N O .
38

1 0 0 ,0 0 0

42

1 .0 0 0 .0 0 0

99

ADDRESS

8 2

5 .0 0 0

34

&

1 .0 0 0

32

N A M E (S )

I

1 0 0 .0 0 0

42
Z IP

total

CO
Z IP

TR

1 ,0 0 0

32

5 ,0 0 0

34

1 0 .0 0 0

ID O R S .S . N O .
4?

O
t=!
P

T R . .C A S E N O .

TOTAL

30

5 ,0 0 0

34
ID O R S .S . N O .

1 .0 0 0

32

N A M E (S )

sl
►h
o
*1
o

1 0 ,0 0 0

*1

ADDRESS

N A M E (S )

G

1 .0 0 0 ,0 0 0

42
Z IP

>

1 0 0 ,0 0 0

38

99

T R . C A S E NO.

TOTAL

1 .0 0 0

30
V

.

ID O R S .S . N O .
38
ADDRESS




1

:

1 0 0 .0 0 0

4?
Z IP

1 .0 0 0 ,0 0 0

99

TOTAL

T R . C ASE NO.

o
o
ts
p

p

?

n>

ehh

O
•-»

CD

►
§

C £
J
GQ
T

ff s
►<
d3
3 S'
i §
c/a P
&8
o l sr
M

*3

H
1
h j
i—
o
P5
Cfl

C
D
C ft

c
l-t

ES

O r}*

e

cr
C/3

O
3.

C* (5
T 1

P g

p
I—
*.
O

fl

C/3

O

1 .0 0 0 ,0 0 0

9£_

□ □ ?

□

X
X c X C
£L
pu I r I :
a> CD f tM **
2
p
p
H
3
<
*>

CD

Z IP

to

o

1 0 0 ,0 0 0

ADDRESS

00

C ASE NO.
□

30

N A M E (S )

ss

10 OCX

ID O R S .S . N O .
ADDRESS

<«:

i -O
H a

5 .0 0 0

34

s
0
H

CD

O.
N A M E (S )

O

O CD ^O
Q C
tD
B. ^
cr- s

>-t

3*
~f

C
D

rt*
S
3
C
D

►fi
c

C
D
0
3
C
D

O -

cr
L
P
>
O

03

IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Tuesday, January 28, 1975.

TENDER FOR TREASURY NOTES OF SERIES D-1978
Dated February 18, 1975

Due May 15, 1978

Dated a t ......................................
Fiscal Agent of the United States,
New York, N. Y. 10045
.,19.
Pursuant to the provisions of Treasury Department Circular No. 2-75, Public Debt Series, dated
January 23, 1975, the undersigned hereby offers to purchase United States of America Treasury Notes of
Series D-1978 in the amount indicated below, and agrees to make payment therefor at your Bank on or
before the issue date at the price awarded on this tender.
F e d e r a l R e se r v e B a n k o f N e w Y o rk ,

COMPETITIVE TENDER

Do not fill in both Competitive and
Noncompetitive tenders on one form

$ .................................................... ( maturity value)
or any lesser amount that may be awarded.
Y ield:.........

NONCOMPETITIVE TENDER

$ ...................................................

(maturity value)

(N o t to exceed $500,000 fo r one b id d er through all sources)

at the average price of accepted competitive bids.

(Y ield m u st be expressed w ith not m ore
than tw o d e cim a l places, fo r exam ple, 7.1 1 )

Subject to allotment please issue, deliver, and accept payment for the notes as indicated below and on
the reverse side (if registered notes are desired, please also complete schedule on reverse side):
P ieces

D e n o m in a tio n
$

M a tu rity v alue

1 ,0 0 0

5,000

□

1. D eliv er over th e c o u n ter to th e
u n d e rsig n ed

□ 2.

S hip to th e u n d e rsig n ed

□ 3.

H o ld in safek eep in g (fo r m em ­
b e r b a n k o n ly ) in —
□
□
□

1 0 ,0 0 0
1 0 0 ,0 0 0

--------1 , 0 0 0 ,0 0 0

T o tals

□ 4.

In v e stm e n t A ccount
G eneral A ccount
T ru st A ccount

P a y m en t w ill be m ad e as follow s:
□
By ch arg e to o u r reserve account
□
By cash or check in im m ed ia tely
available fu n d s
□
By su rre n d er of m atu rin g secu ­
rities as in d ic a te d in official
circ u la r
□

5.

Special instructions:

H o ld as collateral lo r Ire a su ry
T ax a n d L o an A ccount*

(N o changes in d e liv ery instructions
w ill be a c cep ted )

* T h e u n d e rsig n ed certifies th a t th e a llo tte d notes w ill be ow ned solely by th e u ndersigned.

We hereby agree not to buy 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 after one-thirty p.m., Eastern
Standard time, Tuesday, January 28,1975.
( I f a com m ercial b a n k is su bscribing fo r its ow n a cc o u n t or for a cc o u n t of custom ers, th e follow ing certifications
are m ad e a p a rt of this te n d e r .)
W e H e r e b y C e r t i f y that we have received tenders from our customers in the amounts set opposite the
customers’ names on the list which is made a part of this tender; that there has been paid to us by each
such customer as required by the official offering circular, not subject to withdrawal until after allotment,
not less than 5 percent of the amount bid for; that we have not made unsecured loans, or loans collateralized
in whole or in part by the notes bid for, to supply the amounts of such payments to any of such customers;
that we have no beneficial interest in the tenders of such customers; and that none of our customers has
any beneficial interest in the amount bid for our own account.

W e F u r t h e r C e r t i f y that tenders received by us, if any, from other commercial banks for their own
account and for the account of their customers have been entered with us under the same conditions, agree­
ments, and certifications as set forth in this form.

(N am e of subscriber — please print or type)

Insert this tender in
special envelope marked
“Tender for Treasury
Notes or Bonds”

(Address — incl. City and State)

(T el. N o.)

(Signature of subscriber or authorized signature)

(T itle of authorized signer)

(B anking in stitu tio n s su b m ittin g ten d e rs for custom er a cc o u n t m u st list custom ers’ nam es on lines belo w or on an a tta c h e d rider)

(N am e o f customer)

(N am e of customer)

IN S T R U C T IO N S :
1.
v a lu e ).

No te n d e r for less th an $1,000 will be considered; an d each te n d e r m u st be for a m ultip le of $1,000 (m atu rity

2. O nly b a n k in g institutions, a n d dealers w ho m ake p rim a ry m ark ets in G o v ern m en t securities a n d re p o rt d aily to this
B ank th eir p ositions w ith re sp ec t to G overnm ent securities a n d borrow ings thereon, m ay subm it tenders for custom er account;
in d oing so, th ey m ay consolidate com p etitiv e ten d ers at th e sam e yield an d m ay consolidate n oncom petitive ten d e rs, p rovided
a list is a tta c h e d show ing the nam e of e ac h b id d e r a n d th e a m o u n t b id for his account. O th ers w ill n o t b e p e rm itte d to
su b m it ten d ers except for th e ir ow n account.
3. If th e person m aking th e te n d e r is a corporation, th e te n d e r should b e signed b y an officer of th e corporation a u th o r­
ized to m ake th e ten d e r, a n d th e signing of th e te n d e r b y an officer of th e corporation "will b e c o n stru ed as a rep resen tatio n
b y him th a t he has b e en so au th o rized . If th e te n d e r is m ad e b y a p a rtn e rsh ip , it should b e signed b y a m em b er of th e
firm, w ho should sign in th e form “ ..................................................................................................... .. a c o p artn ersh ip , b y ....................................
.......................................................... a m em b er of th e firm.”
4. T en d ers will b e received w ith o u t deposit from com m ercial an d o th er banks for th eir ow n account, Federally-insured
savings an d loan associations, States, political subdivisions o r in stru m en talities th ereo f, p u b lic p ension a n d retirem e n t a n d o th er
p u b lic funds, in tern atio n al organizations in w h ich th e U n ited S tates holds m em bership, foreign cen tral banks an d foreign
States, d ealers w ho m ake p rim ary m arkets in G o v ern m en t securities an d re p o rt d aily to th e F ed eral R eserve Bank of N ew York
their positions w ith resp ect to G o v ern m en t securities an d borrow ings thereon, a n d G o v ern m en t accounts. T en d ers from others
m u st b e acco m p an ied b y p a y m e n t o f 5 p e rc e n t of th e face am o u n t of securities ap p lied for. All checks m u st b e d raw n to the
o rd er of th e F e d e ral R eserve B ank of N ew York; checks e n d o rsed to this Bank w ill n o t b e accepted.
5.

If th e lan g u ag e of this ten d e r is ch an g ed in an y resp ect, w hich, in th e opinion of th e S ecretary of th e T reasury
y

 m aterial, th e te n d e r m ay b e d isreg ard ed .
is


SUBSCRIPTION NO.

SCHEDULE FOR ISSUE OF REGISTERED TREASURY NOTES OF SERIES D-1978
D E L I V E R Y INSTRUCTIONS
S U B S C R IB E R

FOR FRB USE O N L Y

|
|

S IG N A T U R E _

1 D E L IV E R O V E R T H E C O U N T E R
1 S H IP T O S U B S C R IB E R

Q

o t h e :r

T R A N S . A C C O U N T IN G D A T E

ISSUE AGENT 12

ADDRESS

□

LO AN CODE

•e

td

.Z IP .

I N T E R E S T COMP.

R E G I S T R A T I O N

IN S T R U C T IO N S

D EN 0M .

:1
W

AMOUNT

SERIAL NOS.
(LEAVE BLANK)

FOR

FR B

USE

DATE

0
1

» n o -o r

c
s
C
T

O N L Y

5 .0 0 0

S? >
S 0
O o
Q tfc
0)
H
(T
>
o.

1 .0 0 0

3?

N A M E (S )

o

FEB. 18, 1975
N O . OF
PIE CE S

o>

CO

IN S T R U C T IO N S :

34

o *
f
—
0>

B.

T
O
c
_ i 2.
Q
'S'
s 3
Q 5

CD

>

lv

38

1 ,0 0 0 .0 0 0

99

TOTAL

30

N A M E (S )

8
TR

J? 0)

34

^ H
►d 8
3 2

5 .0 0 0
1 0 .0 0 0

ID O R S .S . N O .
38

1 0 0 .0 0 0

42

1 .0 0 0 .0 0 0

99

TOTAL

<o
Z IP

30

1 .0 0 0 ,0 0 0

99

Z IP

1 0 0 .0 0 0

4?

ADDRESS

1 0.0 00

'V
'<

ID O R S .S . N O .

TOTAL

30

ADDRESS

N A M E IS )

TOTAL

30




Z IP

G

T R . C A S E NO.

1 0 0 .0 0 0

4?

ADDRESS

>

::

....

1 .0 0 0 .0 0 0

99

TOTAL

to
(A

P-

T R . CASE NO.

to

CD

X*
C
O

R-

01

□

o
T
O

d o e
a t?
>
t= ® $
?
< ft) 2

0

o

ta
p

D
a
>
t=
?
<

O

O'
o

3.

E cr

iO §
C P
&8
t-o JL
.
*1
£o>

2 ft
i
P

S
P’

I IT
P S
WS
T

Z
H
I

H
5T
p
C/5

CD

Sfr

ft*
0

1
P

r+

i—
••

o

t-t
<D

fi
C/5

s' I" a a

n*
«
CU

^ §■

cr

0

1

- t » ii .

M

ID O R S .S . N O .

O

1 .0 0 0

3?

C
L

o

fL
M
-i

1 ,0 0 0 .0 0 0
99

O

ft*

1 0 0 ,0 0 0

42
Z IP

O
O
t=!
P
n>

1 0 ,0 0 0

38

ID O R S .S . N O .

o

V
I

T R . .C A S E N O .

w

□□ □ □ □
ffi

5 .0 0 0

34

oo

o
I I
—
p$»

1 .0 0 0

32

N A M E (S )

C A S E NO.

5 .0 0 0

34

TR

1 .0 0 0

32

N A M E (S )

z

I Icr
c

C A S E NO.

1 .0 0 0

32

ADDRESS

IO
T

1 00 .00 0

42
Z IP

§

Co
TO

?•

ID O R S .S . N O .
ADDRESS

T
O

p §

4: ®
1
o

(D

i— i
O

3

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