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FEDERAL OF RESERVE NEW BANK YORK Fiscal Agent of the United States Circular No. 7971 October 15. 1976 TR E A SU R Y TO AUCTION $2,500 MILLION OF 2-YEAR NOTES To All Bunking Institutions, and Others Concerned, in the Second Federal Reserve District The following statement was issued today by the Treasury Department: The Department of the Treasury will auction $2,500 million of 2-year notes to refund SI.481 million of notes held by the public maturing October 31, 1976, and to raise $1,019 million new cash. Additional amounts of these notes may be issued at the average price of accepted tenders to Government accounts and to Federal Reserve B a n k s for their own account in exchange for $98 million maturing notes held by them, and to Federal R e s e r v e B a n k s a s agents of foreign and international monetary authorities for new cash only. Printed on the reverse side is a table summarizing the highlights of the offering. Copies of the official offering circular will be furnished upon request. Bidders submitting noncompetitive tenders for the notes should realize that it is possible that the average price may be above par, in which case they would have to pay more than the face value for the securities. If payment for the notes is made by check, the check should be a certified personal check or an official bank check, payable on its face to the Federal Reserve Bank of New York; cheeks endorsed to this Bank will not be accepted. If there is any doubt that tenders sent by mail will reach this Bank or its Branch by October 21. bidders should use other means of transmitting their tenders. The tender form will be mailed to you on Monday. Telephone inquiries regarding this offering may be made by calling Telephone No. 212-791-5823, 212-791-6616, or 212-791-5465. PAUL A. VOLCKER. President. (Over) H IG H L IG H T S O F T R E A S U R Y O F F E R IN G T O T H E P U B L IC O F 2 -Y E A R N O T E S T O B E I S S U E D N O V E M B E R 1, 1 9 7 6 A m o u n t O ffe red : To the public............................... D e s c rip tio n $2,500 million o f S e c u rity : Term and type of security........... 2 -year notes Series and C U S H ’ designation .. . Series S-1978 (CUSIP No. 9 1 2 8 2 7 GB2) Maturity d a te............................. October 31, 1978 Call date .................................... No provision Interest coupon rate.................... To be determined, based on the average of accepted bids Investment yield......................... To be determined at auction Premium or discount.................. To be determined after auction Interest payment dates................ April 30 and October 31 Minimum denomination available $5,000 T e r m s o f S a le : Method of sale ............................................ Yield auction Accrued interest payable by investor........... None Preferred allotment .................................... Noncompetitive bid for $500,000 or less Deposit requirement.................................... 5% of face amount Deposit guarantee by designated institutions Acceptable K ey D a te s : Deadline for receipt offenders Thursday, October 21, 197b. by 1 :3 0 p . m . . E D S T Settlement date (final payment due) a) Cash or Federal funds............................................................ Monday, November 1, 1976 b) Check drawn on bank within FRB district where submitted .. Wednesday, October 27, 1976 c) Check drawn on bank outside FRB district where submitted . Monday, October 25, 1976 Delivery date for coupon securities............................................. Monday, November 1, 1976
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