Full text of Federal Reserve Bank of New York Circulars : 7621. Auction of Notes and Bonds

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F ederal R eserve Bank
o f N ew Yo rk
Fiscal Agent of the United States
r C ircular No. 7 6 2 1
L
May 2, 1 9 7 5

1
J

AUCTION OF NOTES AND BONDS
Treasury Notes of Series E-1978 and A-1982
Treasury Bonds of 2000-05
To All Banking Institutions, and Others Concerned,
in the Second Federal Reserve District:

As announced in our Circular No. 7620, dated May 1, 1975, the Treasury will sell at auction
under competitive and noncompetitive bidding —
$2.75 billion of Treasury Notes of Series E-1978, dated and bearing interest from
May 15, 1975, maturing August 15, 1978;
$1.50 billion of Treasury Notes of Series A-1982, dated and bearing interest from
May 15, 1975, maturing May 15, 1982; and
$750 million of Treasury Bonds of 2000-05, dated and bearing interest from
May 15, 1975, maturing May 15, 2005, callable at the option of the United
States on any interest payment date on and after May 15, 2000.
The terms of the offerings are set forth in Treasury Department Circulars Nos. 13-75, 14-75, and
15-75, Public Debt Series, dated May 2, 1975; a copy of each is printed on the following pages.
This Bank will receive tenders — for the notes of Series E-1978 up to 1:30 p.m., Eastern Day
light Saving time, Tuesday, May 6, 1975; for the notes of Series A-1982, up to 1:30 p.m., Eastern
Daylight Saving time, Wednesday, May 7, 1975; and for the bonds, up to 1:30 p.m., Eastern Day
light Saving time, Thursday, May 8, 1975 — at the Securities Department of its Head Office and
at its Buffalo Branch; provided, however, that noncompetitive tenders will be considered timely
received if they are mailed to this Bank or its Branch under a postmark no later than May 5 for the
notes of Series E-1978, May 6 for the notes of Series A-1982, and May 7 for the bonds. Please use
the enclosed 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 submitted by telegraph,
subject to written confirmation; no tenders may be submitted by telephone.
Settlement for accepted tenders must be completed on or before Thursday, May 15, 1975,
except that payment for up to 100 percent of the amount of bonds allotted may be deferred until

June 2, 1975, under the conditions and procedures set forth in Section IV of Treasury Department
Circular No. 15-75 (a copy of which is printed on the following pages). If payment for the bonds
is to be so deferred, the bidder must indicate in the payment instructions on the tender form the
amount of bonds allotted on which payment will be deferred, and for that amount accrued interest,
at the coupon yield established for the bonds, will be added to the price.
If settlement is made with maturing securities, coupons dated May 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 be accepted.
The securities will be auctioned on a yield basis, rather than the conventional price basis, as set
forth in Section III of the official offering circulars. Tenders at a yield that will produce a price less
than 99.251 for the notes of Series E-1978, 98.251 for the notes of Series A-1982, and 92.501 for
the bonds will not be accepted. Noncompetitive bidders will be required to pay the average price
of accepted competitive tenders.
Telephone inquiries regarding this offering may be made by calling Telephone No. 212-791-5823,
212-791-6616, or 212-791-5465.

A lfred H a y es,

President.

UNITED STATES OF AMERICA
TREASURY NOTES OF SERIES E-1978
D a te d and b ea rin g in terest from M ay 15, 1 9 7 5

D u e A u gu st 15, 1978

DEPARTMENT OF THE TREASURY,
Office of the Secretary,

DEPARTMENT CIRCULAR

W ashington, M ay 2, 1975.

Public D ebt Series — No. 13-75

coupon and registered notes, and the transfer of regis
tered notes will be permitted.

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 $2,750,000,000, or
thereabouts, of notes of the United States, designated
Treasury Notes of Series E-1978. 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 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 Daylight Saving
time, Tuesday, May 6, 1975, under competitive and
noncompetitive bidding, as set forth in Section III
hereof. The 6 percent Treasury Notes of Series B1975 and 5 7/s percent Treasury Notes of Series F-1975,
maturing May 15, 1975, will be accepted at par in
payment, in whole or in part, to the extent tenders are
allotted by the Treasury.

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.

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 Gov
ernment securities and borrowings thereon, may sub
mit 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 pub
lic 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 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 notes referred to in Section I, which will be
accepted at par) of 5 percent of the face amount of
notes applied for.

II. DESCRIPTION OF NOTES
1. The notes will be dated May 15, 1975, and
will bear interest from that date, payable on a semi
annual basis on February 15 and August 15, 1976, and
thereafter on February 15 and August 15 in each year
until the principal amount becomes payable. They
will mature August 15, 1978, 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 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 anv
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 $5,000, $10,000, $100,000
and $1,000,000. Book-entry notes will be available to
eligible bidders in multiples of those amounts. Inter
changes of notes of different denominations and of

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 Daylight Saving time, Tuesday,
May 6, 1975. Each tender must state the face amount
of notes bid for, which must be $5,000 or a multiple
thereof, and the yield desired, except that in the
case of noncompetitive tenders the term “noncom
petitive” 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 decimals, e.g., 7.11.
Fractions may not be used. Noncompetitive tenders
from any one bidder may not exceed $500,000.

3. Immediately after the closing hour tenders will
be opened, following which public announcement will
2

by the Secretary of the Treasury in his discretion, be
forfeited to the United States. When payment is made
with notes, a cash adjustment will be made to or
required of the bidder for any difference between the
face amount of notes submitted and the amount pay
able on the notes allotted.

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 ac
ceptance 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
100.000 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 $2,750,000,000
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.

2.
Delivery of notes in bearer form will be made
on or about May 27, 1975. Purchasers of bearer notes
may elect to receive interim certificates on May 15,
1975, which will be exchangeable for the notes when
available at any Federal Reserve Bank or Branch or
at the Bureau of the Public Debt, Washington, D. C.
20226. The interim certificates must be returned at
the risk and expense of the holder.

V. ASSIGNMENT OF REGISTERED NOTES

IV. PAYMENT FOR AND DELIVERY
OF NOTES
1.
Settlement for acceptcd tenders in accordance
with the bids must be made or completed on or before
May 15, 1975, at the Federal Reserve Bank or Branch
or at the Bureau of the Public Debt. Payment must
be in cash, notes referred to in Section I (interest
coupons dated May 15, 1975, should be detached),
in other funds immediately available to the Treasury
by May 15, 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) Monday,
May 12, 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) Friday,
May 9, 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 appro
priate identifying number as required on tax returns
and other documents submitted to the Internal Reve
nue 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

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 E-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
E-1978 to be delivered t o ............................................... ”
Notes tendered in payment should be surrendered to
the Federal Reserve Bank or Branch or at 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 NOTES OF SERIES E-1978
D a te d an d b ea rin g in terest from M ay 1 5 , 1 9 7 5

D u e A u gu st 15, 19 7 8

DEPARTMENT OF THE TREASURY,
Office of the Secretary,

DEPARTMENT CIRCULAR

Washington, May 2, 1975.

Public D ebt Series — No. 13-75

coupon and registered notes, and the transfer of regis
tered notes will be permitted.

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 $2,750,000,000, or
thereabouts, of notes of the United States, designated
Treasury Notes of Series E-1978. 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 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 Daylight Saving
time, Tuesday, May 6, 1975, under competitive and
noncompetitive bidding, as set forth in Section III
hereof. The 6 percent Treasury Notes of Series B1975 and 5Y8 percent Treasury Notes of Series F-1975,
maturing May 15, 1975, will be accepted at par in
payment, in whole or in part, to the extent tenders are
allotted by the Treasury.

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.

H. DESCRIPTION OF NOTES
1. The notes will be dated May 15, 1975, and
will bear interest from that date, payable on a semi
annual basis on February 15 and August 15, 1976, and
thereafter on February 15 and August 15 in each year
until the principal amount becomes payable. They
will mature August 15, 1978, 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 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 anv
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 $5,000, $10,000, $100,000
and $1,000,000. Book-entry notes will be available to
eligible bidders in multiples of those amounts. Inter
changes of notes of different denominations and of

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 Daylight Saving time, Tuesday,
May 6, 1975. Each tender must state the face amount
of notes bid for, which must be $5,000 or a multiple
thereof, and the yield desired, except that in the
case of noncompetitive tenders the term “noncom
petitive" 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 decimals, e.g., 7.11.
Fractions may not be used. Noncompetitive tenders
from any one bidder may not exceed $500,000.

3. Immediately after the closing hour tenders will
be opened, following which public announcement will
2

by the Secretaiy of the Treasury in his discretion, be
forfeited to the United States. When payment is made
with notes, a cash adjustment will be made to or
required of the bidder for any difference between the
face amount of notes submitted and the amount pay
able on the notes allotted.

V. ASSIGNMENT OF REGISTERED NOTES

IV. PAYMENT FOR AND DELIVERY
OF NOTES
1.
Settlement for accepted tenders in accordance
with the bids must be made or completed on or before
May 15, 1975, at the Federal Reserve Bank or Branch
or at the Bureau of the Public Debt. Payment must
be in cash, notes referred to in Section I (interest
coupons dated May 15, 1975, should be detached),
in other funds immediately available to the Treasury
by May 15, 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) Monday,
May 12, 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) Friday,
May 9, 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 appro
priate identifying number as required on tax returns
and other documents submitted to the Internal Reve
nue 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

UNITED STATES OF AMERICA
TREASURY NOTES OF SERIES A-1982
Dated and bearing interest from May 15, 1975

Due May 15, 1982

DEPARTMENT OF THE TREASURY,
Office of the Secretary,
Washington, May 2, 1975.

DEPARTMENT CIRCULAR
Public Debt Series- No. 14-75

INVITATION FOR TENDERS

amounts. Interchanges of notes of different denominations and of coupon and registered notes, and the
transfer of registered notes will be permitted.

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 $1,500,000,000, or
thereabouts, of notes of the United States, designated
Treasury Notes of Series A-1982. 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 international monetary authorities. Tenders will
be received up to 1:30 p.m., Eastern Daylig~t. Saving
time,Wednesday, May 7, 1975, under competih.ve and
noncompetitive bidding, as set forth in Section III
hereof. The 6 percent Treasury Notes of Series B-1975
and 5% percent Treasu~ Notes of Series :J!-1975,
maturing May 15, 1975, will be accepted at par m payment, in whole or in part, to the extent tenders are
allotted by the Treasury.
II.

5. The notes will be subject to the general regulations of the Department of the Treasury, now or hereafter prescribed, governing United States notes.
III.

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 Daylight Saving time, Wednesday,
May 7, 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 competitive tenders, the yield must be expressed in
terms of an annual yield, with two decimals, e.g., 7.11.
Fractions may not be used. Noncompetitive tenders
from any one bidder may not exceed $500,000.

DESCRIPTION OF NOTES

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 without deposit from banking institutions for their own
account, Federally-insured savings and loan associations, 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 notes referred to in Section I, which will be accepted at par) of 5 percent of the face amount of notes
applied for.

l. The notes will be dated May 15, 1975, and will
bear interest from that date, payable semiannually
on November 15, 1975, and thereafter on May 15 and
November 15 in each year until the principal amount
becomes payable. They will mature May ~5, 19~2,
and will not be subject to call for redemptiOn pnor
to maturity.
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 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 payment 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. Boo~-entry .notes will be
available to eligible bidders m multiples of those

TENDERS AND ALLOTMENTS

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 notes, a
cash adjustment will be made to or required of the
bidder for any difference between the face amount
of notes submitted and the amount payable on the
notes allotted.

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 ac
ceptance 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 % of one per
cent necessary to make the average accepted price
100.000 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 $1,500,000,000
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
without stated yield from any one bidder will be ac
cepted in full at the average price ( in three decimals)
of accepted competitive tenders.
IV.

2.
Delivery of notes in bearer form will be made
on or about May 28, 1975. Purchasers of bearer notes
may elect to receive interim certificates on May 15,
1975, which will be exchangeable for the notes when
available at any Federal Reserve Bank or Branch or
at the Bureau of the Public Debt, Washington, D. C.
20226. The interim certificates must be returned at
the risk and expense of the holder.
V.

PAYMENT FOR AND DELIVERY
OF NOTES

1.
Settlement for accepted tenders in accordance
with the bids must be made or completed on or before
May 15, 1975, at the Federal Reserve Bank or Branch
or at the Bureau of the Public Debt. Payment must
be in cash, notes referred to in Section I (interest
coupons dated May 15, 1975, should be detached),
in other funds immediately available to the Treasury
by May 15, 1975, or by check drawn to the order of
the Federal Reserve Bank to which the tender is sub
mitted, 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) Monday, May 12,
1975, if the check is drawn on a bank in the Fed
eral 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) Friday, May 9,
1975, if the check is drawn on a bank in another dis
trict. 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 regis
tered notes are requested if the appropriate identify
ing number as required on tax returns and other docu
ments 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

ASSIGNMENT OF REG ISTERED 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 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
Series A-1982 in the name of (name and taxpayer
identifying number)”. If notes in coupon form are
desired, the asignment should be to “The Secretary of
the Treasury for coupon Treasury Notes of Series
A-1982 to be delivered t o ............................................... ”
Notes tendered in payment should be surrendered to
the Federal Reserve Bank or Branch or at the Bureau
of the Public Debt, Washington, D. C. 20226. The
notes must be delivered at the expense and risk of
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 2000-05
D ated and bearing interest from May 15, 1975

Due May 15, 2005

R E D E E M A B L E A T T H E OPTION O F T H E U N IT E D S T A T E S AT PAR AND A C C R U ED
IN T E R E S T ON AN D A F T E R MAY 15, 2000

D E P A R T M E N T O F T H E TREASU RY,
Office of the Secretary,

D E P A R T M E N T C IR C U L A R
Public D ebt Series — No. 15-75

Washington, May 2, 1975.

I. INVITATION FOR TENDERS

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
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.

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, designated
Treasury Bonds of 2000-05. 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 Daylight Saving
time, Thursday, May 8, 1975, under competitive and
noncompetitive bidding, as set forth in Section III
hereof. The 6 percent Treasury Notes of Series B-1975
and 5Ys percent Treasury Notes of Series F-1975,
maturing May 15, 1975, will be accepted at par in
payment, in whole or in part, to the extent tenders are
allotted by the Treasury.

3. The bonds will be acceptable to secure deposits
of public moneys. They will not be acceptable in
payment 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
hereafter prescribed, governing United States bonds.

2. Deferred payment for up to 100 percent of the
amount of bonds allotted may be made as provided in
Section IV hereof. Delivery of bearer bonds will be
made on or about May 28, 1975, except that delivery
of that portion of the bonds on which payment is
deferred will be made on June 2, 1975.

III. TENDERS AND ALLOTMENTS

II. DESCRIPTION OF BONDS
1.
The bonds will be dated May 15, 1975, and will
bear interest from that date, payable semiannually on
November 15, 1975, and thereafter on May 15 and
November 15 in each year until the principal amount
becomes payable. They will mature May 15, 2005,
but may be redeemed at the option of the United
States on and after May 15, 2000, 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 pre
scribe. 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 redemption shall
cease.

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 Daylight Saving time, Thursday,
May 8, 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
competitive tenders, the yield must be expressed in
terms of an annual yield with two decimals, e.g., 7.11.
Fractions 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, 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
without deposit from banking institutions for their
own account, Federally-insured savings and loan
associations, States, political subdivisions or instru
mentalities 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 /narkets 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 pay
ment (in cash or tRe 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 ac
ceptance 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
100.000 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 correspond
ing 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 Secre
tary 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. Sub
ject to these reservations, noncompetitive tenders for
$500,000 or less without stated vield from any one
bidder will be accepted in full at the average price ( in
three decimals) of accepted competitive tenders.
IV.

PAYMENT FOR AND DELIVERY
OF BONDS

2.
Delivery of bonds in bearer form will be made
on or about May 28, 1975. Purchasers of bearer bonds
may elect to receive interim certificates on May 15,
1975, to the extent that the required payment has
been completed. The interim certificates will be ex
changeable for the bonds when available at any
Federal Reserve Bank or Branch or at the Bureau of
the Public Debt, Washington, D. C. 20226. The in
terim certificates must be returned at the risk and
expense of the holder.
V.

percent (95 percent in the case of a bidder required
to make a 5 percent deposit) of the amount of bonds
allotted until June 2, 1975. Payment must be in cash,
notes referred to in Section I (interest coupons dated
May 15, 1975, should be detached), in other funds
immediately available to the Treasury by May 15,
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) Monday, May 12, 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) Friday, May 9, 1975, if the check
is drawn on a bank in another district. Checks re
ceived after the dates set forth in the preceding
sentence will not be accepted unless they are payable
at a Federal Reserve Bank. Accrued interest from
May 15 to June 2, 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 payment for the
total amount allotted has been completed. Payment
will not be deemed to have been completed where
registered bonds 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 bonds 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 notes, a cash adjustment will be made to
or required of the bidder for any difference between
the face amount of notes submitted and the amount
payable on the bonds allotted.

ASSIGNMENT OF REG ISTERED NOTES

1.
Registered notes tendered as deposits and in
payment for bonds allotted hereunder are not re
quired to be assigned if the bonds are to be registered
in the same names and forms as appear in the regis
trations or assignments of the notes surrendered. Spe
cific instructions for the issuance and delivery of the

VI.

bonds, signed by the owner or his authorized rep
resentative, must accompany the notes presented.
Otherwise, the notes should be assigned by the regis
tered payees or assignees thereof in accordance with
the general regulations governing United States se
curities, as hereinafter set forth. Bonds to be regis
tered 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 2000-05 in the name of (name
and taxpayer identifying number).” If bonds in cou
pon form are desired, the assignment should be to
“The Secretary of the Treasury for coupon Treasury
Bonds of 2000-05 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.

GENERAL PROVISIONS

1. As fiscal agents of the United States, Federal
Reserve Banks are authorized and requested to re
ceive tenders, to make such allotments as may be pre
scribed 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 al
lotted, 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
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.

FORM NA-1

IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Tuesday, May 6,1975.

TENDER FOR TREASURY NOTES O F SERIES E-1978
Dated May 15,1975

Due August 15,1978
Dated a t ......................................................

F e d e r a l R eserv e B an k o f N e w Y ork,

Fiscal Agent of the United States,
New York, N. Y. 10045

.........................................................., 19__

Pursuant to the provisions of Treasury Department Circular No. 13-75, Public Debt Series, dated
May 2, 1975, the undersigned hereby offers to purchase United States of America Treasury Notes of
Series E-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.

COMPETITIVE TENDER

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

NONCOMPETITIVE TENDER

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

$ ...................................................... (maturity value)

Yield: ..........

at the average price of accepted competitive bids.

( Not to exceed $500,000 for one bidder through all sources)

(Yield must be expressed with not more
than two decimal places, for example, 7.11)

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

Denomination
$

Maturity value

5,000
10,000
100,000
1,000,000
Totals

□ 1. Deliver over the counter to the
undersigned
□ 2. Ship to the undersigned
□ 3. Hold in safekeeping (for mem
ber bank only) in —
□ Investment Account
□ General Account
□ Trust Account
□ 4. Hold as collateral for Treasury
Tax and Loan Account*
(N o changes in delivery instructions
will be accepted)

Payment will be made as follows:
□ By charge to our reserve account
□ By cash or check in immediately
available funds
Q By surrender of maturing secu
rities as indicated in official
circular
□ 5.

Special instructions:

* The undersigned certifies that the allotted securities will be owned solely by the undersigned.
( If a commercial bank or dealer is subscribing for its own account or for account of customers, the following
certifications are made a part of this tender.)
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 forth opposite
the customers’ names on the list which is made a part of this tender, and that we have either received and
are holding for the Treasury or we guarantee payment to the Treasury of deposits stipulated in the official
offering circular.
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 typ e)

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)

( Ti t l e of authorized signer)

(Banking institutions submitting tenders for customer account must list customers’ names on lines below or on an attached rider)
(N am e of custom er)

(N am e of customer)

IN STBU C TIO N S:
1.
value).

No tender for less than $5,000 will be considered; and each tender must be for a multiple of $5,000 (maturity

2. Only banking institutions, and dealers who make primary markets in Government securities and report daily to this
Bank their positions with respect to Government securities and borrowings thereon, may submit tenders for customer account;
in doing so, they may consolidate competitive tenders at the same yield and may consolidate noncompetitive tenders, provided
a list is attached showing the name of each bidder and the amount bid for his account. Others will not be permitted to
submit tenders except for their own account.
3. If the person making the tender is a corporation, the tender should be signed by an officer of the corporation author
ized to make the tender, and the signing of the tender by an officer of the corporation will be construed as a representation
by him that he has been so authorized. If the tender is made by a partnership, it should be signed by a member of the
firm, who should sign in the form ..................................^............................. , a copartnership, by .........................................................
............................................................... a member of the firm.”
4. Tenders will be received without deposit from commercial and other banks for their own account, Federally-insured
savings and loan associations, 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 of 5 percent of the face amount of the securities applied for. All checks must be drawn to
the order of the Federal Reserve Bank of New York; checks endorsed to this Bank will not be accepted.
5. If the language of this tender is changed in any respect, which, in the opinion of the Secretary of the Treasury
is material, the tender may be disregarded.

SCHEDULE FOR ISSUE OF REGISTERED TREASURY NOTES OF SERIES E-1978

SUBSCRIPTION NO.
F O R F R B USE O N L Y

DELIVERY INSTRUCTIONS

SUBSCRIBER

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

S IG N A T U R E ^

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

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

IN S T R U C T IO N S :

ISSUE AGENT 12

AOORESS

B 1 10-01
NO.

INSTRUCTIONS

P IE C E S

0E N 0M .

N A M E (S )

SERIAL NOS.
(LEAVE BLANK)

AMOUNT

FOR

FRB

USE

ONLY

...

n
?4

5.0 0 0
10

000

10 O R S .S. N O .
ADDRESS
Z IP

100.000

1.0 00.0 00

to tal

CASE NO.

C A S E NO.

N A M E (S )
32
ID O R S.S. N O .
ADDRESS

5.0 00

10.000

100.000

1.0 0 0 .0 0 0

TO TAL

CO 00
Z IP
.N A M E J }),.
3?
34
ID O R S.S. N O .

5 .0 0 0
10. WO
100.000

AOO R ESS
Z IP

1.0 00.0 00

TO TAL

T R . .C A S E NO.

N A M E (S )
32

5 .0 0 0
10.000

ID O R S .S. N O .

100.000

ADDRESS
Z IP

1.000.000

TO TAL

T R . C A S E NO.

N A M E (S )
S
M
ID O R S .S . N O .

I* m

100.000

AOORESS

CLK)

1 .0 0 0 .0 0 0
Z IP

TO TAL

T R . CASE NO.

□ □□□□□

IMPORTANT —Please fill in information requested below,

JASL
REG ISTR A TIO N

LO A N CO DE

May 15, 1975

FO R M NA-2

IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Wednesday, May 7,1975.

TENDER FOR TREASURY NOTES OF SERIES A-1982
Dated May 15,1975
Due May 15,1982
Dated at

F e d e r a l R e se rv e B a n k o f N e w Y ork,
F i s c a l A g e n t o f t h e U n i t e d S t a te s ,
N e w Y o rk , N . Y. 10045

19__

Pursuant to the provisions of Treasury Department Circular No. 14-75, Public Debt Series, dated
May 2, 1975, the undersigned hereby offers to purchase United States of America Treasury Notes of
Series A-1982 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.

NONCOMPETITIVE TENDER

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

( maturity value)

(Not to exceed $500,000 for one bidder through all sources)

at the average price of accepted competitive bids.

Y ie ld :..........
( Yield must be expressed with not more
than two decimal places, for example, 7.11)

Denomination
$

Maturity value

□ 1. Deliver over the counter to the
undersigned

1,000

□ 2. Ship to the undersigned

5,000

□ 3.

10,000
100,000
1,000,000
Totals

Hold in safekeeping (for mem
ber bank only) in —
□ Investment Account
□ General Account
□ Trust Account
Q 4. Hold as collateral for Treasury
Tax and Loan Account*
(N o changes in delivery instructions
will be accepted)

Payment will be made as follows:
□ By charge to our reserve account
□
By cash or check in immediately
available funds
□ By surrender of maturing secu
rities as indicated in official
circular

Insert this ten der in
special en velope m arked
“T ender for Treasury
N otes or B onds”

(A ddress — incl. City and State)

(T e l. N o .)

(Sign atu re of subscriber or authorized signature)
(T itle o f authorized signer)

(Banking institutions submitting tenders for customer account must list customers’ names on lines below or on an attached rider)
(N am e of custom er)

( Nam e of custom er)

IN STR U C TIO N S:
1.
value).

No tender for less than $1,000 will be considered, and each tender must be for a multiple of $1,000 (maturity

4. Tenders will be received without deposit from commercial and other banks for their own account, Federally-insured
savings and loan associations, 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 of 5 percent of the face amount of the securities applied "for. All checks must be drawn to
the order of the Federal Reserve Bank of New York; checks endorsed to this Bank will not be accepted.
5. If the language of this tender is changed in any respect, which, in the opinion of the Secretary of the Treasury
is material, the tender may be disregarded.

SUBSCRIPTION NO.

SCHEDULE FOR ISSUE OF REGISTERED TREASURY NOTES OF SERIES A-1982
D E L IV E R Y INSTRUCTIO NS

FOR FRB USE ONLY

S U B S C R IB E R

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

S IG N A T U R E _

I 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 D A T E

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

ISSUE AGENT 12

ADDRESS

INTEREST

R EG ISTR ATIO N

N O . OF
P IE CE S

INSTRUCTIONS

N A M E (S )

AMOU NT

DEN0M.

1 .0 0 0

5 .0 0 0

SERIAL NOS.
(LEAVE BLANK)

FOR

FRB

USE

COMI».

DATE

fcO

W
o

5xl

L O A N CODE

May 15, 1975

Z.'P..

o a>
CTQ

no -o r

2
p

ONLY

§
H

■Q
34

1 0 .0 0 0

ITO

ID OR S.S. N O .
ADDRESS
Z IP
N A M E (S )

1 0 0 .0 0 0

1 ,0 0 0 .0 0 0

TOTAL

1 ,0 0 0

5 .0 0 0

1 0 ,0 0 0

1 0 0 ,0 0 0

1 .0 0 0 ,0 0 0

99
30

1 .0 0 0

5 ,0 0 0

ID OR S.S. NO .
ADDRESS

N A M E (S )

ID OR S.S. N O .
ADDRESS
Z IP
N A M E (S )

5 ,0 0 0
1 0 ,0 0 0

3ft

1 0 0 ,0 0 0

1 .0 0 0 .0 0 0

TOTAL

1 .0 0 0

i is !

-v

ADDRESS

ZIP

. la

TOTAL

□

*-4

^C/5 Ori-

EL tL

►8

OQ
a
n»

5
o

T R . C A S E NO .

fcj.

ir CL

»d

□
d
0)

C0D
e? t=?

1 ,0 0 0 ,0 0 0

oo oo

H H

1 0 0 ,0 0 0

4;>

fcS 1=3

T R . C A S E NO.

□

1 ,0 0 0

□

SB X ffi O
SL Q . £
Qu 0-< Pj

T R . .C A S E N O .

ID OR S.S. NO.

TOTAL

o
—

1 .0 0 0 ,0 0 0

C A S E NO.

1 0 0 .0 0 0

Z IP

o 2

£S

< r

(/I
o

ic/aso

1 0 .0 0 0

■

I I

C A S E NO.

!*
»d <d

TOTAL

82
TR

H
I

Oon
O
3.
cr
(0
•1

SK
§
<5

b *8
og*

0p
P2 X
§

II
I iff

B-

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ft

►Q
<D

C/3
CD
CL
O£ o -

F O R M BA

IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Thursday, May 8,1975.

TENDER FOR TREASURY BONDS OF 2000-05
D ated M ay 15,1975

D ue M ay 15, 2005

Dated at ....................................................

F e d e r a l R eserv e B an k o f N e w Y ork,

Fiscal Agent of the United States,
New York, N. Y. 10045

........................................................... 1 9 _

Pursuant to the provisions of Treasury Department Circular No. 15-75, Public Debt Series, dated
May 2, 1975, the undersigned hereby offers to purchase United States of America Treasury Bonds of
2000-05 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 June 2).
C O M PE T IT IV E T E N D E R

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

$ ...................................................... ( maturity value)
or any lesser amount, that may be awarded.

N O N C O M PETITIV E TE N D E R

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

( maturity value)

(N ot to exceed $500,000 for one bidder through all sources)

at the average price of accepted competitive bids.

Yield: ..........
(Yield must be expressed with not more
than two decimal places, for example, 7.11)

Denomination
$

Maturity value

1,000
5,000
10,000
100,000
1,000,000

Payment will be made as follows:
□
□
□
□

By charge to our reserve account
By cash or check in immediately
available funds
By cash or check in funds
available by June 2 for
........... ( par v alu e) of bonds
By surrender of maturing secu
rities as indicated in official
circular

Totals
* The undersigned certifies that the allotted securities will be owned solely by the undersigned.
( If a commercial bank or dealer is subscribing for its own account or for account of customers, the following
certifications are made a part of this tender.)
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 forth opposite
the customers’ names on the list which is made a part of this tender, and that we have either received and
are holding for the Treasury or we guarantee payment to the Treasury of deposits stipulated in the official
offering circular.
\ \ 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 typ e)

Insert this ten d er in
special en velope m arked
“T en der for T reasury
N otes or Bonds ”

(Address — incl. City and State)

(T el. N o .)

(Signature of subscriber or authorized signature)

(T itle of authorized signer)

(Banking institutions submitting tenders for customer account must list customers’ names on lines below or on an attached rider)
(N am e of custom er)

(N am e of customer)

IN STR U C TIO N S:
1.
value).

No tender for less than $1,000 will be considered, and each tender must be for a multiple of $1,000 (maturity

2. Only banking institutions, and dealers who make primary markets in Government securities and report daily to this
Bank their positions with respect to Government securities and borrowings thereon, may submit tenders for customer account;
in doing so, they may consolidate competitive tenders at the same yield and may consolidate noncompetitive tenders, provided
a list is attached showing the name of each bidder and the amount bid for his account. Others will not be permitted to
submit tenders except for their own account.
3. If the person making the tender is a corporation, the tender should be signed by an officer of the corporation author
ized to make the tender, and the signing of the tender by an officer of the corporation will be construed as a representation
by him that he has been so authorized. If the tender is made by a partnership, it should be signed by a member of the
firm, who should sign in the form “ ................................................................., a copartnership, by .........................................................
............................................................... a member of the firm.”
4. Tenders will be received without deposit from commercial and other banks for their own account, Federally-insured
savings and loan associations, States, political subdivisions or instrumentalities thereof, public pension and retirement and other
public funds, international organizations in which the United States holds membersnip, 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 of 5 percent of the face amount of the securities applied for. All checks must be drawn to
the order of the Federal Reserve Bank of New York; checks endorsed to this Bank will not be accepted.
5. Under certain conditions, payment for the bonds may be deferred until June 2, 1975; procedures for doing so are
contained in the official offering circular.
6. If the language of this tender is changed in any respect, which, in the opinion of the Secretary of the Treasury
is material, the tender may be disregarded.

SUBSCRIPTION NO.

SCHEDULE FOR ISSUE OF REGISTERED TREASURY BONDS OF 2000-05
D E L I V E R Y INST RUCT IONS

FOR F RB USE O N L Y

S U B S C R IB E R

]

1 D E L IV E R O VER T H E C O U N T E R

S IG N A T U R E

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 D A T E

ISSUE AGENT 12

ADDRESS

IN TE R E S T CO M f.
NO.

INSTRUCTIONS

PIECES

ADDRESS
Z IP
N A M E (S )

ID OR S.S. N O .
ADDRESS
Z IP

AMOUNT

DEN0M.

1.000

N A M E (S )

ID OR S.S. NO.

ID OR S.S. N O .

5.000

10 000

100.000

1,000,000

TOTAL

SERIAL NOS.
(LEAVE BLANK)

FOR

FRB

USE

DATE

Cu
cd

ID OR S.S. N O .
ADDRESS
Z IP
N A M E (S )

*
8

3
5

O
Sd
H

IS fcr

5,000

►d N3

10,000

100,000

1.000,000

..........
TOTAL

1 .000

5.000

1 0 .coo

■

100.000

TOTAL

...

TR
‘

5,000

10,000

3fi

100,000

1.000,000

TOTAL

1,000

^ non
iu

□

00
□

a a

X X X d
O o^ O CD CD CD
P?
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& a.
EE
1
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CD CD
p
p
CA
on

■'

O
O
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fc=i

p
CD

T R . ,C A S E N O .

£ -

ta
p

%
EL

B.
CD
CD
CD
H-1,

r
>
o

T R . C A S E NO.

1.000.000
T R . C ASE NO.

i
L

>
O

|
I

05
S'
c-4
a

0 p
O
p

efe
_

B
cT
■i
a* OQ' t
o
eCD

.-.L.

TOTAL

o a>
8
8 soa
g
a
cr
&SL

C A S E NO.

~ ....

1 .000

42
Z IP

C A S E NO.

100.000

ADDRESS

sf
2 5H

-4

ID OR S.S. N O .

H «
& 3.
%
?•
15
CD

1 ,000

N A M E (S )

ONLY

1.000,000
Z IP

a>
Q
o OQ

ADDRESS

8 n o -o r

______

—

N A M E (S )

□

LO A N CODE

May 15, 1975

Z IP
R EGISTRATION

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

DC/3
O
3.
cr

~ CiD

H
I
s
<r
C/5

K
o
p
rt-

O
S3
»
Is
CD
c/i
rt*
ocr
2L
o3

Full text of Federal Reserve Bank of New York Circulars : 7621. Auction of Notes and Bonds

FRASER