The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL OF RESERVE NEW BANK YORK Fiscal Agent o f th e U nited States C irc u la r N o. 7 9 7 8 O c to b e r 28, 1978 TR EA SU R Y ANNOUNCES NOVEM BER R E F U N D IN G To A ll Banking Institutions, and Others Concerned, in the Second Federal Reser\<e District T h e fo llo w in g s ta te m e n t w as issued O c to b e r 27 by th e T reasury D e p a rtm e n t: The Treasury will raise about $2,000 m illion o f new cash and refund $3,994 m illion o f securities m aturing Novem ber 15. 1976, by issuing $3,000 m illion o f 3-year notes, $2,000 m illion of 7-year notes, and $1,000 m illion of 23‘ i -year bonds. The $3,994 m illion of m aturing securities to be refunded in the general offering are those held by private investors. G overnm ent accounts and Federal Reserve Banks, for their own accounts, hold $331 m illion o f m atu rin g securities that may be refunded by issuing additonal am ounts of new securities. A dditional am ounts o f the notes and the bonds may also be issued, for new cash only, to Federal Reserve Banks as agents for foreign and international m onetary authorities. It should In nott il tint! ihc maxim um amount of tenders that will he accepted on a noncompetitive basis for preferred allotment has been increased from $500,000 to $1,000,000. Printed on the reverse side i a table summarizing the highlights of the offering.Copies of the o f s f icial offering circular w l be furnished upon request. il Bidders submitting noncompetitive tenders should realize that i i possible that the average price may t s be above par, i which case they would have to pay more than the face value for the securities. n If payment i made by check, the check should be a certified personal check or an off c a bank check, s iil p a y a b le on i s face to the Federal Reserve Bank of New York; t ch ecks en d o rsed to th is B a n k w ill n o t b e a c c e p te d . Enclosed i a copy of each of the forms to be used i submitting tenders. I there i any doubt that s n f s tenders sent by mail w l reach th s Bank or i s Branch i time, bidders should use other means of trans il i t n mitting their tenders. Telephone inquiries regarding th s offering may be made by calling Telephone No. 212-791-5827 i 212-791-6616, or 212-791-5465. P A U L A. V O L C K E R , P r e s id e n t. (O ver) HIGHLIGHTS OF TREASURY OFFERINGS TO THE PUBLIC NOVEMBER 1976 REFUNDING TO BE ISSUED NOVEMBER 15, 1976 7-Year Notes 23-1/4 Year Bonds $2,000 million $1,000 million Term and type of security.................... 3-year notes 7-year notes 23-1/4 year bonds Series and CUSIP designation............ Series K-1979 (CUSIP No, 912827 GC0> Series B-1983 (CUSIP No. 912827 GD8) 7-7/8% bonds of 1995-2000 (CUSIP No. 912810 BS6) , November 15, 1979 November 15, 1983 February 15, 2000 . No provision No provision February 15, 1995 3-Year Notes Am ount Offered: To the public ......................................... $3,000 million Description o f Security: Interest coupon r a t e ............................ To be determined, based on the average of accepted bids To be determined, based on the average of accepted bids 7-7/8% Investment yield.................................. To be determined at auction To be determined at auction To be determined at auction Premium or discount.......................... . To be determined after auction To be determined after auction To be determined after auction Interest payment d a te s ...................... . May 15 and November 15 May 15 and November 15 February 15 and August 15 Minimum denomination available. . . . $5,000 $1,000 $1,000 Yield auction Price auction Accrued interest payable by investor . . None None $19.68750 per $1,000 Preferred allotm ent............................. , Noncompetitive bid for $1,000,000 or less Noncompetitive bid for $1,000,000 or less Noncompetitive bid for $1,000,000 or less Deposit requirem ent.......................... . 5% of face amount 5% of face amount 5% of face amount Acceptable Acceptable Key Dates: Deadline for receipt of tenders.......... . Wednesday, November 3, 1976, by 1:30 p.m., EST Thursday, November 4, 1976, by 1:3Q p.m., EST Friday, November 5, 1976, by 1:30 p.m., EST Settlement date ifinal payment due) a) cash or Federal fu n d s .............. . Monday, November 15, 1976 Monday, November 15, 1976 Monday, November 15, 1976 b) check drawn on bank within FRB district where submitted . . . Wednesday, November 10, 1976 Wednesday, November 10, 1976 Wednesday, November 10, 1976 c) check drawn on bank outside FRB district where submitted . . . Monday, Novembers, 1976 Monday, November 8, 1976 Tuesday, November 9, 1976 Delivery date for coupon securities . , . Monday, November 15, 1976 Monday, November 15, 1976 Monday, November 15, 1976 Term s of Sale: . Yield auction Deposit guarantee by designated . Acceptable Jt-U M M N A -1 IMP^ )il i ANT — ( losing time for receipt of this tender is 1:30 p.m., Wednesday, November 3,1976 T E N D E R FO R TREASURY NOTES O F SERIES K-1979 D a te d N ovem b er 1 5 ,1 9 7 6 >. a > < £ 3 j £ 5 G •rH C o < D < /3_ u o l^ ~. c; £ e tr v O < U t4H'H " J 'u ° y ? CS -G H D u e N o v em b er 15, 1979 F ed er a l R eserve B a n k o f N e w York , F iscal A g en t o f th e U n ite d States, N e w York, N . Y. 10045 D a te d at ............................................... 19 T h e u n d ersign ed hereb y offers to p u rch ase U n ited States o f A m erica T reasury N o tes o f Series K-1979 in the am ou n t in d ica ted b elo w , a n d agrees to m ake p a y m en t th erefor at you r B ank o n or b efo re th e issu e date at th e p rice aw ard ed on this tender. C O M P E T IT IV E T E N D E R Do not fill in both competitive and Noncompetitive tenders on one form NONCOMPETITIVE TENDER TJ .£ $ .................................................................. ( m aturity v a lu e ) or any lesser am ount th at m ay b e aw arded. $ ................................................................ (m a tu rity v a lu e ) (Not to exceed $1,000,000 for one bidder through all sources) Yield: ............ at the average p rice o f a ccep ted co m p etitiv e bids. (Yield must be expressed with not more than two decimal places, for example, 7.11) Subject to allotm ent, p lease issue, d eliver, an d a c c e p t p a y m en t for th e securities as in d ica ted b e lo w and on the reverse sid e ( if registered secu rities are desired, p lea se also co m p lete sch ed u le on reverse s i d e ) : P ie c e s D enom ination $ Maturity value 5,000 10,000 100,000 1,000,000 Totals Q 1. Deliver over the counter to the undersigned □ 2. Ship to the undersigned □ 3. Hold in safekeeping (for member bank only) in — □ Investment Account □ General Account Li trust Account O 4. Hold as collateral for Treasury Tax and Loan Account* 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 securities Q 5. Special instructions. (No changes in delivery instructions will be accepted) * 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 ereby C e r t if y th at w e h ave r e ceiv ed ten d ers from our custom ers in th e am ounts se t forth o p p o site the custom ers nam es on th e list w h ich is m a d e a part o f this ten d er, a n d th at w e h a v e eith er r e ceiv ed and are h o ld in g for th e T reasury or w e gu aran tee p a y m en t to th e T reasury o f d ep osits stip u la ted in th e official offering circular. W e F u r th er C e r t if y th at tenders receiv ed b y us, if any, from o th er com m ercial banks for their o w n accou n t and for th e a cco u n t o f th eir custom ers h a v e b e e n en tered w ith u s u n d er th e sam e conditions, agreem ents, and certifications as se t forth in this form . (Nam e of subscriber — please print or type) < *J3 "S u Insert this ten d er in sp ecia l e n velo p e m a rk ed uT en d er fo r Treasury N o tes or B onds ” (Address — incl. City and State) (Tel. No.) (Signature of subscriber or authorized signature) (Title of authorized signer) t -3 .2 C O 73 (Institutions submitting tenders for customer account must list customers' names on lines below or on an attached rider) (Name of customer) ............................. (Name of customer) INSTRUCTIONS: i. No tender for less than $5,000 will be considered; and each tender must be for a multiple of $5,000 (maturity value). 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, mav 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. 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 Stat 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. 4. Payment must be completed by November 15, 1976. If payment is by check drawn on a bank in this District it must be received by November 10, 1976; checks drawn on a bank in another District must be received by November 8 I97f \!1 checks must be drawn to the order of the Federal Reserve Bank of New York; checks endorsed to this Bank will not be ac< -u 1 5. If the language of this tender is changed in any respect that, in the opinion of the Secretary of the Treacnrv material, the tender mav be disregarded. ireasury, is [Enc. Cir. No. 7 978] (OVER) FORM XA-2 IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Thursday, November 4, 1976 TE N D E R FO R TREASURY NOTES O F SERIES B-1983 Dated November 15,1976 Due November 1 , 1983 5 D a te d at F e d e r a l R e se r v e B a n k o f N e w Y o r k , 1 € - F iscal A gent of th e U n ited States, N ew York, N. Y. 10045 a % .2 ^9 .............................................................. T h e u n d e rsig n e d h e re b y offers to p urch ase U nited States of A m erica T reasury N otes of Series B-1983 in th e am o u n t in d ic a te d below , a n d agrees to m ake p ay m en t th erefo r at your Bank on or before th e issue date a t the p rice aw a rd e d on this ten d er. = j u iu i s COMPETITIVE T E N D E R D o n o t fill in b o t h c o m p e t i t i v e a n d NONCOMPETITIVE T E N D E R N o n c o m p e titiv e te n d e r s o n o n e fo rm $ .............................................................. ( m a tu rity v a lu e ) or any lesser am o u n t th a t m ay be aw arded. Yield: ( Y ie ld $ ........................................................... ( m atu rity v a lu e ) ( N o t to e x c e e d $ 1 , 000,000 f o r o n e b i d d e r th r o u g h a ll so u rc e d ) at the average price of accep ted com petitive bids. m u s t b e e x p r e s s e d w i t h n o t m o r e th a n tw o d e c i m a l p la c e s , f o r e x a m p le , 7 .1 1 ) S ubject to allotm ent, please issue, deliver, a n d accep t p ay m en t for th e securities as in d icated below and on the reverse side ( if r e g i s t e r e d securities are desired, please also com plete schedule on reverse' side ): Pieces D enom ination $ M a tu rity value 1,000 5,000 D 1□ 2. S hip to th e und ersig n ed P ay m en t w ill b e m ad e as follows: □ By ch arg e to our reserve account Q By cash or check in immediately □ 3. H old in safek eep in g (fo r m em b e r b a n k o n ly ) in — □ □ □ O Q 5. S pecial instructions. 10,000 100,000 1,000,000 T otals D eliv er over th e c o u n ter to th e u n d ersig n ed □ 4. In v estm en t A ccount G en eral A ccount T ru st A ccount available funds By su rre n d er of m atu rin g securities H o ld as co llateral for T rea su ry T ax an d L oan A ccount* (No changes in delivery instructions will be accepted) 0 T h e u n d e rsig n ed certifies th a t th e a llo tte d securities w ill be o w ned solely by th e und ersig n ed . ( If a commercial bank or dealer is subscribing for its own account or for account of customers, the following certifications are m ade 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 th a t w e have received tenders from o u r custom ers in th e am ounts set fo rth o p p osite th e cu stom ers’ nam es on th e list w h ich is m ad e a p a rt of this ten d er, an d th a t w e h av e eith er received and are ho ld in g for th e T reasu ry or w e g u a ran tee p ay m en t to th e T reasu ry of deposits stip u lated in th e official offering circular. W e F u r t h e r C e r t if y th a t ten d ers received by us, if any, from o th e r com m ercial banks for th eir ow n acco u n t an d for the acco u n t of th e ir custom ers have been en tered w ith us u n d e r th e sam e conditions agreem ents, an d certifications as set fo rth in this form. (N am e o f subscriber — please print or type) Insert this tender in special envelope marked “Tender for Treasury Notes or Bonds” (Address — inch City and State) (T el. N o.) (Signature o f subscriber or authorized signature) (Title of authorized signer) (In stitu tio n s su b m ittin g tenders for custom er acco u n t m ust list custom ers’ nam es on lines below or on an a tta c h e d rid er) (N am e o f custom er) ..............( Name o f cu stom er) ............. INSTRUCTIONS: 1. \ o tender for less than $1,000 will be considered; and each tender must be for a multiple of $1,000 ( maturity value). 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 a t th e s a m e y i e l d 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. 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. 4. Payment must be completed by November 15, 1970. If payment is by check drawn on a bank in this District, it must be received by November 10, 1976; checks drawn on a bank in another District must be received by Xovember S 1976 Ml checks must be drawn to the order of the Federal Reserve Bank of Xew York; checks endorsed to this Bank w ill not be accepted. 5. If the language of this tender is changed in any respect that, in the opinion of the Secretary of the Treasury, is material, the tender may be disregarded. [Enc. Cir. No. 7978] (O V E R ) IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Friday, November 5, 1976 TENDER FOR 7%% TREASURY BONDS OF 1995-2000 (ADDITIONAL AMOUNT) D a te d F e b ru a ry 18,1975, W ith In te re st F ro m N ovem ber 15, 1976, D u e F e b ru a ry 15, 2000 F R e s e r v e R a n k o f N f \v \ Fiscal of the United States, New York, N. Y. 10045 ed era l o rk Dated at , ......................................................... , 19. . 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 vour Bank on or before the issue date at the price indicated below (plus accrued interest of $19.68750 per $1,000): 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. Price: per 100 (minimum of 94.25) N O N C O M PETITIV E T E N D E R v ......................................................... ( maturity value) (Not to exceed SLOOO.OOO for one bidder thmuuh all sources) at the average price of accepted competitive bids'. I Price must be expressed with not more than two decimal places, for example, 100.00) 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 1,000 5 ,0 0 0 1 0 ,0 0 0 1 0 0 ,0 0 0 1 ,0 0 0 ,0 0 0 Totals □ 1. Deliver over the counter to the undersigned □ 2. Ship to the undersigned □ 3. Hold in safekeeping ( for member bank only) in — Q Investment Account □ General Account □ Trust Account Q 4. Hold as collateral for Treasury Tax and Loan Account0 Payment will be made as follows: □ By charge to our reserve account □ By cash or check in im m e d ia te ly a v a ila b le f u n d s □ By surrender of maturing securities U ^ bpeciaJ instructions. ( N o c h a n g e s in d e l i v e r y in s tr u c tio n s w ill b e a c c e p te d ) The undersigned certifies that the allotted securities will be owned solely by the undersigned. (If a eomincrical 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 ereby C ertify 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 urther C ertify 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 agreements, and certifications as set forth in this form. ( N a m e of s u b s c r ib e r — p le as e p r in t or t y p e ) I n s e r t t h i s t e n d e r in s p e c ia l e n v e lo p e m a r k e d “T e n d e r f o r T r e a s u r y N o te s o r B o n d s ' ( A d d r e s s — ■incl. Ci t y a n d S t a t e ) ( S i g n a t u r e of s u b s c r ib e r ( T e l. N o .) or au th nr i.- ed s i g n a t u r e ) ( T i t l e of a u t h o r i z e d s ig n e r ) (Institutions submitting tenders for customer account must list customers’ names on lines below or on an attached rider) ( N a m e of custom er) ( N a m e o f c u s to m e r ) INSTRUCTIONS: 1. No tender for less than $1,000 will be considered; and each tender must be for a multiple of $.1,000 (maturity value). 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 price 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. 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. 4. Payment must be completed by November 15, 1976. If payment is by check drawn on a bank in this District, it mint be received by November 10, 1976; cheeks drawn on a bank in another District must be received by November 9, 1976. All cheeks must be drawn to the order of the Federal Reserve Bank of New York; checks endorsed to this Rank will not he accepted. 5. If the language of this tender is changed in any respect that, in the opinion of the Secretary of the Treasury, is material, the tender may be disregarded. [Ene. Cir. No. 7978] (OVER) ADDRESS UNITED STATES OF AM ERICA TREASURY NOTES OF NOVEMBER 15, 1979 DEPARTMENT CIRCULAR public Debt Series— No. 28-76 I. INVITATION FOR TENDERS I 1 The Secretary of the Treasury, pursuant to the . . authority of the Second Liberty Bond Act, as amended, i v t s tenders f r $3,000,000,000, or thereabouts, of nie o s c r t e of the United S a e , designated Treasury euiis tts Notes of November 1 , 1979, Series K-1979 (CUSIP No. 5 912827 G C 0 . The s c r t e w l be sold a auction with ) e u i i s il t bidding on the basis of y e d and with the i t r s rate il, neet and the price equivalent of each accepted bid to be de termined as s tforth below. Additional amounts of these e s c r t e may be issued to Government accounts and to euiis Federal Reserve Banks fortheir own account i exchange n for maturing Treasury s c r t e being held by them, and euiis to Federal Reserve Banks, as agents of foreign and inter national monetary a t o i i s for new cash o l . uhrte, ny I 2 I the i t r s rate determined i accordance . . f neet n with t i circular i identical to the ra e on an outstand hs s t ing i ssue of United States n otes, and the terms and cpnditions of such outstanding is u are otherwise se ide t c l to terms and conditions of the s c r t e offered nia euiis herein, t i i h s nvitation s a l be deemed to be an inv t t o hl iain f r an additional amount of the outstanding s c r t e o euiis and t i circular w l be amended accordingly. Payment hs il for the s c r t e i that event w l be calculated on the euiis n il basis of the auction price determined i accordance with n t i circular plus accrued i t r s from the l s preceding hs neet at i t r s payment date on the outstanding s c r t e . neet euiis H. DESCRIPTION OF SECURITIES I. 1 The s c r t e w l be dated November 1 , 1976, I . e u i i s il 5 and w l bear i t r s from that date, payable on a semi il neet annual basis on May 15 and November 1 , 1977, and 5 thereafter on May 15 and November 15 i each year u t l n ni the principal amount becomes payable. They w l mature il November 1 , 1979, and w l not be subject to c l fo 5 il al r redemption prior to maturity.I . I. 2 The income derived from the s c r t e i I . euiis s subject to a l taxes imposed under the Internal Revenue l Code of 1954. The s c r t e are subject to e t t , in euiis sae heritance, g f or other excise ta e , whether Federal or it xs S a e but are exempt from a l taxation now or hereafter tt, l imposed on the principal or i t r s thereof by any S a e neet tt, or any of the possessions of the United S a e , or by any tts l c l taxing authority. oa I . 3 The s c r t e w l be acceptable to secure I . e u i i s il deposits ofpublic moneys. They w l not be acceptable i il n payment of t x s ae. I. 4 Bearer s c r t e with i t r s coupons attach I . euiis neet ed, and s c r t e registered as to principal and inter euiis e t w l be issued i denominations of $5,000, $10,000, s, i l n $100,000 and $1,000,000. Book-entry s c r t e w l be e u i i s il D E PA R T M E N T OF TH E TREA SU R Y , O ffice o f the Secretary, Washington, October 28, 1976. available to e i i l bidders i multiples of those lgbe n amounts. Interchanges of s c r t e of different denom euiis inations and of coupon, registered and book-entry s c r t e , and the transfer of registered s c r t e w l be euiis e u i i s il permitted. I. 5 The s c r t e w l be subject to the general reg I . e u i i s il ulations of the Department of the Treasury governing United States s c r t e , now or hereafter prescribed. euiis m. SALE PROCEDURES I I 1 Tenders w l be received at Federal Reserve I. . il Banks and Branches and a the Bureau of the Public t Debt, Washington, D.C. 20226, up to 1:30 p.m., Eastern Standard time, Wednesday, November 3 1976. Non , competitive tenders, as defined below, w l be considered il timely i postmarked no l t r than Tuesday, November f ae 2 1976. , II I. 2 Each tender must s a e the face amount of . tt s c r t e bid f r which must be $5,000 or a multiple euiis o, t e e f Competitive tenders must show the y e d desired, hro. il expressed i terms of an annual y e d with two decimals, n il e g , 7.11%. Common fractions may not be used. Non .. competitive tenders must show the term “noncompeti t v ” on the tender form i l e of a specified y e d No ie n iu il. bidder may submit more than one noncompetitive tender, and the amount may not exceed $1 , , . 000000 II I. 3 Commercial banks, which fo t i purpose are . r hs defined as banks accepting demand deposits, and primary dealers, which f r t i purpose are defined as o hs dealers who make primary markets i Government n s c r t e and report dailyto the Federal Reserve Bank of euiis New York th i positions with respect to Government er s c r t e and borrowings thereon, may submit tenders euiis f r account of customers, provided the names of the o customers and the amount for each customer are furnished. Others w l not be permitted to submit tenders il except f r th i own account. o er II I. 4 Tenders w l be received without deposit fo . il r t e r own account from commercial banks and other hi banking i s i u i n ; primary d a ntttos e lers, as defined above; Federally-insured savings and loan associations; States and p l t c l subdivisions or instrumentalities thereof; oiia public pension and retirement and other public funds; international organizations i which the United States n holds membership, foreign central banks and foreign states; Federal Reserve Banks; and Government accounts. Tenders from others must be accompanied by a deposit of 5% of the face amount of s c r t e applied euiis fo ( n the form of cash, maturing Treasury s c r t e or r i euiis readily c l e t b e checks), or by a guarantee of such de olcil po i by a commercial bank or a primary d aler. st e (Over) II I. 5 Immediately a t r the closing hour, tenders . fe w l be opened, following which public announcement il w l be made of the amount and y e d range of accepted il il b d . Subject to the reservations expressed i Section IV, is n noncompetitive tenders w l be accepted i f l a the il n ul t average price ( n three decimals) of accepted competitive i tenders, and competitive tenders with the lowest y e d ils w l be accepted to the extent required to attain the il amount of e e . Tenders a the highest accepted y e d frd t il w l be prorated i necessary. After the determination i il f s made as to which tenders are accepted, a coupon rate w l il be determined a a 1/8 of one percent increment that t translates into an average accepted price close to 100.000 and a lowest accepted price above the original i ssue discount l m t of99.250. That rate ofi t r s w l be paid ii n e e t il on a l of the s c r t e . Based on such i t r s r t , the l euiis neet ae price on each competitive tender a l t e w l be deter l o t d il mined and each successful competitive bidder w l be il required to pay the price corresponding to the y e d b d il i. Price calculations w l be carried to three decimal places il on the basis of price per hundred, e g , 99.923, and the .. determinations of the Secretary of the Treasury s a l be hl f n l I the amount of noncompetitive tenders received ia. f would absorb a l or most of tne o f r n , competitive l feig tenders w l be accepted i an amount s f i i n to pro il n ufcet vide a f i determination of y e d Additional tenders ar il. received from Government accounts and Federal Reserve Banks w l be accepted a the average price of accepted il t competitive tenders. I I 6 Those submitting competitive tenders w l be I. . il advised of the acceptance or r j ction t r o . Those ee he e f submitting noncompetitive tenders w l not be not f e il iid except when the tender i not accepted i f l or when the s n ul price i over par. s IV. RESERVATIONS IV. 1 The Secretary of the Treasury expressly re . serves the right to accept or r j c any or a l tenders i eet l n whole or i p r , to a l t more or l s than the amount of n at lo es s c r t e specified i Section I and to make different euiis n , percentage allotments to various cl s e of applicants ass when he deems i to be i the public i t r s , and h s t n neet i action i any such respect s a l be f n l n hl ia. V. PAYMENT AND DELIVERY V. 1 Settlement for s c r t e a l t e hereunder . euiis lotd must be made or completed on or before November 1 , 5 1976, a the Federal Reserve Bank or Branch, or the t Bureau of the Public Debt, wherever the tender was submitted. Payment must be i cash; i other funds n n immediately available to the Treasury; i Treasury b l s n il, notes or bonds (with a l coupons detached) maturing on l or before the settlement date but which are not overdue as defined i the general regulations governing United n States s c r t e ; or by check drawn t the order of the euiis o i s i u i n to which the tender was submitted, which nttto must be received a such i s i u i n no l t r than: t nttto ae ( ) Wednesday, November 1 , 1976, i the check i a 0 f s drawn on a bank i the Federal Reserve D s r c of the n itit i s i u i n to which the check i submitted (t e Fi t nttto s h fh Federal Reserve D s r c i case of the Bureau of the itit n Public Debt), or ( ) Monday, November 8 1976, i the check i drawn b , f s on a bank i another Federal Reserve D s r c . n itit Checks received after the dates set forth in the preced ing sentence will not be accepted unless they are payable at the applicable Federal Reserve Bank. Paym ent will not be deem ed to have been com pleted where registered securities are requested if the ap p ro p riate identifying number as required on tax returns and other documents submitted to the Internal Revenue Service (an individu a ’ s c a security number or an employer i e tification ls o i l dn number) i not furnished. When payment i made i s s n s c r t e , a cash adjustment w l be made to or required euiis il ofthe bidder for any difference between the face amount of s c r t e presented and the amount payable on the euiis scrte alte. euiis lotd V. 2 In every case where f l payment i not com . ul s pleted on time, the deposit submitted with the tender, up to 5 percent of the f t e amount of s c r t e a l t e , tc euiis lotd s a l a the discretion of the Secretary of the Treasury, hl, t be f r e t d to the United S a e . ofie tts V. 3 Registered s c r t e tendered as deposits and . euiis i payment for s c r t e a l t e hereunder are not re n euiis lotd quired to be assigned i the new s c r t e are to be regis f euiis tered i the same names and forms as appear i the n n registrations or assignments of the s c r t e surren euiis dered. Specific instructions for the issuance and delivery of the new s c r t e , signed by the owner or h s author euiis i ized representative, must accompany the s c r t e pre euiis sented. Otherwise, the presented s c r t e should be euiis assigned by the registered payees or assignees thereof i n accordance with the general regulations governing United States s c r t e , as hereinafter s t f r h When euiis e ot. the new s c r t e are to be registered i names and euiis n forms different from those i the inscriptions or assign n ments of the s c r t e presented, the assignment should euiis be to “The Secretary of the Treasury fo ( e u i i s r scrte offered herein) i the name of (name and taxpayer n indentifying number).” I new s c r t e i coupon form f euiis n are desired, the assignment should be to “The Secretary of the Treasury fo coupon ( e u i i s offered herein) to r scrte be delivered to (name and address).” Securities tendered i payment should be surrendered to the Federal Reserve n Bank or Branch or t the Bureau of the Public Debt, o Washington, D.C. 20226. The s c r t e must be de euiis l v r d a the expense and r s of the holder. iee t ik V. 4 I bearer s c r t e are not ready f r delivery on . f euiis o the settlement date, purchasers may e e t t receive lc o interim c r i i a e . These c r i i a e s a l be issued i etfcts etfcts hl n bearer form and s a l be exchangeable fo the s c r t e hl r euiis offered herein, when such s c r t e are ava l b e a any euiis ial, t Federal Reserve Bank or Branch, or a the Bureau of the t Public Debt, Washington, D.C. 20226. The interim c r i i a e must be returned a the r s and expense of etfcts t ik the holder. V. 5 Delivery of s c r t e i registered form w l be . euiis n il made a t r the requested form of registration has been fe validated, the registered i t r s account has been neet established and the s c r t e have been inscribed. euiis VI. GENERAL PROVISIONS VI. 1 As f s a agents of the United S a e , Federal . icl tts 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, t receive payment for and make o delivery ofs c r t e on ful - a d allotments, and to issue euiis lpi interim c r i i a e pending delivery of the d f n t v etfcts eiiie scrte. euiis VI. 2 The Secretary ofthe Treasury may a any time, . t or from time t time, prescribe supplemental or o amendatory ru e and regulations governing the o f r n , ls feig which w l be communicated promptly to the Federal il Reserve Banks. GEORGE H. DIXON, Acting Secretary of the Treasury. UNITED STATES OF AM ERICA TREASURY NOTES OF NOVEMBER 15, 1983 DEPARTMENT CIRCULAR Public Debt Series— No. 29-76 I. INVITATION FOR TENDERS I. 1. The Secretary of the Treasury, p u rsu an t to the authority of the Second Liberty Bond Act, as am ended, invites tenders for $ 2 ,000,000,000, or thereabouts, of securities of the U nited States, designated T reasury Notes of November 15, 1983, Series B-1983 (CU SIP No. 912827 G D 8). The securities will be sold at auction with bidding on the basis of yield, and with the interest rate and the price equivalent of each accepted bid to be d e term ined as set forth below. A dditional am ounts of these securities may be issued to Governm ent accounts and to Federal Reserve Banks for their own account in exchange for m aturing T reasury securities being held by them , and to Federal Reserve Banks, as agents of foreign and in ter national m onetary authorities, for new cash only. II. DESCRIPTION OF SECURITIES 11. 1. The securities will be dated November 15, 1976, and will bear interest from th at date, payable on a sem i annual basis on M ay 15 and November 15, 1977, and thereafter on May 15 and November 15 in each year until the principal am ount becomes payable. They will m ature November 15, 1983, and will not be subject to call for redem ption prior to m aturity. 11. 2. The incom e derived from the securities is subject to all taxes im posed under the Internal Revenue Code of 1954. The securities are subject to estate, in heritance, gift or other excise taxes, w hether Federal or State, b u t are exem pt from all taxation now or hereafter imposed on the principal or interest thereof by any State, or any of the possessions of the U nited States, or by any lpcal taxing authority. I . II. 3. The securities will be acceptable to secure deposits of public moneys. They will not be acceptable in paym ent of taxes. II. 4. B earer secu ritie s w ith interest coupons attached, and securites registered as to principal and interest, will be issued in denom inations of $1,000, $5,000, $10,000, $100,000 and $1,000,000. Book-entry securities will be available to eligible bidders in m ultiples of those am ounts. Interchanges of securities of different den o m inations and of coupon, registered and book-entry securities, and the transfer of registered securities will be perm itted. D E PA R T M E N T OF THE T R E A SU R Y , Office o f the Secretary, Washington, October 28, 1976. II. 5. The securities will be subject to the general reg ulations of the D epartm ent of the T reasury governing U nited States securities, now or hereafter prescribed. HI. SALE PROCEDURES III. 1. T enders will be received at Federal Reserve Banks* and B ranches and at the B ureau of the Public Debt, W ashington, D.C. 20226, up to 1:30 p.m ., E astern S tandard tim e, Thursday, November 4, 1976. N oncom petitive tenders, as defined below, will be considered timely if postm arked no later th an W ednesday, Novem ber 3, 1976. III. 2. Each tender m ust state the face am ount of securities bid for, which m ust be $ 1,000 or a m ultiple thereof. Competitive tenders m ust show the yield desired, expressed in term s of an annual yield with two decim als, e.g., 7.11%. Com m on fractions may not be used. N on competitive tenders m ust show the term “ noncom peti tive” on the tender form in lieu of a specified yield. No bidder may subm it more than one noncom petitive tender, and the am ount may not exceed $ 1 ,000,000. III. 3. Com m ercial banks, which for this purpose are defined as banks accepting dem and deposits, and prim ary dealers, which for this purpose are defined as dealers who m ake prim ary m arkets in G overnm ent securities and report daily to the Federal Reserve B ank of New York their positions with respect to G overnm ent securities and borrowings thereon, may subm it tenders for account of custom ers, provided the nam es of the custom ers and the am ount for each custom er are furnished. O thers will not be perm itted to subm it tenders except for their own account. III. 4. T enders will be'received w ithout deposit for their own account from com m ercial banks and other banking institutions; prim ary dealers, as defined above; Federally-insured savings and loan associations; States and political subdivisions or instrum entalities thereof; public pension and retirem ent and other public funds; international organizations in which the U nited States holds m em bership, foreign central banks and foreign s ta te s ; F e d e ra l R eserv e B a n k s; a n d G o v e rn m e n t accounts. Tenders from others m ust be accom panied by a deposit of 5% of the face am ount of securities applied for (in the form of cash, m aturing Treasury securities or readily collectible checks), or by a guarantee of such d e posit by a com m ercial b ank or a prim ary dealer. (Over) III. 5. Im m ediately after the closing hour, tenders will be opened, following which public announcem ent will be m ade of the am ount and yield range of accepted bids. Subject to the reservations expressed in Section IV, noncom petitive tenders will be accepted in full at the average price (in three decim als) o f accepted com petitive tenders, and com petitive tenders with the lowest yields will be accepted to th e extent required to attain the am ount offered. T enders at the highest accepted yield will be p rorated if necessary. A fter the determ ination is m ade as to which tenders are accepted, a coupon rate will be determ ined at a 1/8 o f one percent increm ent th a t translates into an average accepted price close to 100.000 and a lowest accepted price above the original issue discount lim it o f 98.250. T h a t rate of interest will be paid on all of the securities. Based on such interest rate, the price on each com petitive tender allotted will be d eter mined and each successful com petitive bidder will be required to pay the price corresponding to the yield bid. Price calculations will be carried to three decim al places on the basis of price per hundred, e.g., 99.923, and the determ inations of th e Secretary of the T reasury shall be final. If the am ount o f noncom petitive tenders received would absorb all or m ost of the offering, com petitive tenders will be accepted in an am ount sufficient to p ro vide a fair d eterm ination of yield. A dditional tenders received from G overnm ent accounts and Federal Reserve Banks will be accepted at the average price of accepted competitive tenders. III. 6. Those subm itting com petitive advised of the acceptance or rejection subm itting noncom petitive tenders will except when the tender is not accepted in price is over par. IV. tenders will be thereof. Those not be notified full or when the RESERVATIONS IV. 1. The Secretary of the T reasury expressly re serves the right to accept or reject any or all tenders in whole or in part, to allot m ore or less th a n the am ount of securities specified in Section I, and to m ake different percentage allotm ents to various classes of applicants when he deem s it to be in the public interest, and his action in any such respect shall be final. V. PAYMENT AND DELIVERY V. 1. Settlem ent for securities allotted hereunder m ust be m ade or com pleted on or before N ovember 15, 1976, at the Federal Reserve Bank or B ranch, or the B ureau of the Public D ebt, wherever the tender was subm itted. Paym ent m ust be in cash; in other funds im m ediately available to the T reasury; in T reasury bills, notes or bonds (with all coupons detached) m aturing on or before the settlem ent d ate b u t which are not overdue as defined in the general regulations governing U nited States securities; or by check draw n to the order of the institution to which the tender was subm itted, which m ust be received at such institution no later than: (a) W ednesday, November 10, 1976, if the check is draw n on a b an k in the Federal Reserve D istrict of the institution to which the check is subm itted (the Fifth Federal Reserve D istrict in case of the B ureau of the Public D ebt), or (b) M onday, November 8 , 1976, if the check is draw n on a b an k in an o th er Federal Reserve D istrict. C hecks received after the dates set forth in the preced ing sentence will not be accepted unless they are payable at the applicable Federal Reserve Bank. Paym ent will not be deem ed to have been com pleted where registered securities are requested it the ap p ro p riate identifying num ber as required on tax returns and other docum ents subm itted to the Internal Revenue Service (an individu al’s social security num ber or an employer identification num ber) is not furnished. W hen paym ent is m ade in securities, a cash adjustm ent will be m ade to or required of the bidder for any difference between the face am ount of securities presented and the am ount payable on the securities allotted. V. 2. In every case where full paym ent is not com pleted on tim e, the deposit subm itted with the tender, up to 5 percent of the mce am ount of securities allotted, shall, at the discretion of the Secretary of the Treasury, be forfeited to the U nited States. V. 3. Registered securities tendered as deposits and in paym ent for securities allotted hereunder are not re quired to be assigned if the new securities are to be regis tered in the sam e nam es and form s as appear in the registrations or assignm ents of the securities su rren dered. Specific instructions for the issuance and delivery of the new securities, signed by the owner or his a u th o r ized representative, m ust accom pany the securities p re sented. Otherwise, the presented securities should be assigned by the registered payees or assignees thereof in accordance with the general regulations governing U nited States securities, as hereinafter set forth. W hen the new securities are to be registered in nam es and forms different from those in the inscriptions or assign m ents of the securities presented, the assignm ent should be to “ The Secretary of the Treasury for (securities offered herein) in the nam e of (nam e and taxpayer indentifying num ber).” If new securities in coupon form are desired, the assignm ent should be to “ T he Secretary of the Treasury for coupon (securities offered herein) to be delivered to (nam e and address).” Securities tendered in paym ent should be surrendered to the Federal Reserve Bank or B ranch or to the Bureau of the Public Debt, W ashington, D.C. 20226. The securities m ust be d e livered at the expense and risk of the holder. V. 4. If bearer securities are not ready for delivery on the settlem ent date, purchasers may elect to receive interim certificates. These certificates shall be issued in bearer form and shall be exchangeable for the securities offered herein, when such securities are available, at any Federal Reserve Bank or B ranch, or at the B ureau of the Public D ebt, W ashington, D.C. 20226. The interim certificates m ust be returned at the risk and expense of the holder. V. 5. Delivery of securities in registered form will be m ade after the requested form of registration has been validated, the registered interest account has been established and the securities have been inscribed. VI. GENERAL PROVISIONS VI. 1. As fiscal agents of the U nited States, Federal Reserve Banks are authorized and requested to receive tenders, to m ake such allotm ents as may be prescribed by the Secretary of the Treasury, to issue such notices as may be necessary, to receive paym ent for and m ake delivery of securities on full-paid allotm ents, and to issue interim certificates pending delivery of the definitive securities. VI. 2. The Secretary of the Treasury may at any tim e, or from tim e to tim e, prescribe supplem ental or am endatory rules and regulations governing the offering, which will be communicated prom ptly to the Federal Reserve Banks. GEORGE H. DIXON, Acting Secretary of the Treasury. UNITED STATES OF AM ERICA 7-7/8% TREASURY BONDS OF 1995-2000 DEPARTMENT CIRCULAR Public Debt Series— No. 30-76 DEPARTMENT OF THE TREASURY, O ffice of the Secretary, Washington, October 28, 1976. I. INVITATION FOR TENDERS I. 1. The Secretary of the Treasury, p u rsu a n t to the authority o f the Second Liberty Bond Act, as am ended, invites tenders for $ 1 ,000,000,000, or th ereabouts, of securities of the U nited States, designated 7-7/8% Treasury Bonds o f 1995-2000 (CU SIP No. 912810 BS 6). The securities will be sold at auction with bidding on the basis of price and with paym ent a t the price o f each accepted bid as set forth below. A dditional am ounts of these securities m ay be issued to G overnm ent accounts and to Federal Reserve Banks for their own account in exchange for m atu rin g T reasury securities being held by them , and to Federal Reserve Banks, as agents of foreign and international m onetary authorities, for new cash only. H. D E SC R IP T IO N OF SE C U R IT IE S II. 1. The securities offered will be identical in all respects with the 7-7/8% T reasury Bonds of 1995-2000 issued p u rsu a n t to D epartm ent of the T reasury C ir cular, Public D ebt Series No. 4-75, d ated January 23, 1975, except th a t interest will accrue from November 15, 1976, and paym ent for the securities will be calcu lated on the basis of the auction price determ ined in accordance with this circular, plus accrued interest from August 15, 1976. W ith this exception, the securities are as described in the following excerpt from the above circular: ‘T. T he bonds will be dated February 18, 1975, and will bear in terest 1 from th a t date, payable on a sem i annual basis on A ugust 15, 1975, and th ereafter on F ebruary 15 and A ugust 15 in each year until the principal am o u n t becom es payable. They will m ature February 15, 2000, b u t may be redeem ed at the option of the U nited States on and after February 15, 1995, in whole or in p art, at p a r and accrued interest on any interest day or days, on 4 m onths’ notice o f redem ption given in such m an n er as the Secretary o f the T reasury shall prescribe. In case o f partial redem ption, the bonds to be redeem ed will be determ ined by such m ethod as may be prescribed by the Secretary of the Treasury. From the d ate of redem ption designated in any such notice, interest on the bonds called for redem ption shall cease. “ 2. T he incom e derived from the bonds is subject to all taxes im posed und er the Intern al Revenue Code of 1954. The bonds are subject to estate, inheritance, gift or other excise taxes, w hether Federal or State, b u t are exem pt from all taxation now or hereafter im posed on the principal or interest th ereo f by any State, or any of the possessions o f the U nited States, or by any local taxing authority. 1On January 30, 1975, the Secretary of the Treasury announced that __ the interest rate on the bonds would be 7-7/8 percent per annum. “ 3. The bonds will be acceptable to secure deposits of public moneys. They will not be acceptable in pay m ent of taxes. “4. B earer bonds with interest coupons attached, and bonds registered as to principal and interest, will be issued in denom inations of $1,000, $5,000, $10,000, $100,000 and $1,000,000. Book-entry bonds will be available to eligible bidders in m ultiples of those am ounts. Interchanges of bonds of different d en o m in a tions and of coupon and registered bonds, and the transfer of registered bonds will be perm itted. “ 5. The bonds will be subject to the general regula tions of the D ep artm ent of the Treasury, now or here after prescribed, governing U nited States b o n d s.” m C ATI? • D D A v U n^tIT ID 1 7iV U ij r I r i? v j / U C III. 1. T enders will be received at Federal Reserve Banks and B ranches and at the B ureau of th e Public Debt, W ashington, D.C. 20226, up to 1:30 p.m ., E astern S tandard tim e, Friday, November 5, 1976. Noncom petitive tenders, as defined below, will be considered timely if postm arked no later th a n T h u rs day, November 4, 1976. III. 2. Each tender m ust state the face am o u n t of securities bid for, which m ust be $ 1,000 or a m ultiple thereof. Com petitive tenders m ust show th e price offered, expressed on the basis of 100 with two decim als, e.g., 100.00. Com m on fractions m ay not be used. Only tenders at a price more th a n the original issue discount lim it of 94.25 will be accepted. N oncom petitive tenders m ust show the term “ noncom petitive” on the tender from in lieu of a specified price. No bidder may subm it m ore th an one noncom petitive tender, and the am ount may not exceed $ 1 ,000,000. III. 3. C om m ercial banks, which for this purpose are defined as banks accepting dem and deposits, and prim ary dealers, which for this purpose are defined as dealers who m ake prim ary m arkets in G overnm ent securities and report daily to the Federal Reserve B ank of New York their positions with respect to G overnm ent securities and borrowings thereon, may subm it tenders for account of custom ers, provided the nam es of the custom ers and the am ount for each custom er are furnished. O thers will not be perm itted to subm it tenders except for their own account. III. 4. Tenders will be received w ithout deposit for their own account from com m ercial ban k s and other banking institutions; prim ary dealers, as defined above, Federally-insured savings and loan associations; States and political subdivisions or instrum entalities thereof; public pension and retirem ent and other public funds; international organizations in which the U nited States holds m em bership; foreign central banks and foreign s ta te s , F e d e ra l R eserv e B a n k s; a n d G o v e rn m e n t (Over) accounts. T enders from others m ust be accom panied by a deposit of 5% of th e face am o u n t of securities applied for (in the form of cash, m atu rin g T reasury securities or readily collectible checks), or by a g u arantee of such deposit by a com m ercial b an k or a prim ary dealer. III. 5. Im m ediately after the closing hour, tenders w ill b e o p e n e d f o l l o w i n g w h ic h p u b lic ann oun cem en t will be m ade of the am o u n t and price range o f accepted b id s . S u b j e c t t o t h e r e s e r v a t io n s e x p r e s s e d in S e c tio n IV, noncom petitive tenders will be accepted in full at t h e w e i g h t e d a v e r a g e p r i c e (in t w o d e c i m a l s ) o f a c c e p t e d com petitive tenders, and com petitive tenders at the h i g h e s t p r i c e s w ill b e a c c e p t e d t o t h e e x t e n t r e q u i r e d t o attain the am ount offered. T enders a t the lowest a c c e p t e d p r i c e w ill b e p r o r a t e d i f n e c e s s a r y . S u c c e s s f u l com petitive bidders will be required to pay the price th a t th e y b id . I f th e a m o u n t o f n o n c o m p e titiv e te n d e r s received would absorb all or m ost of the offering, c o m p e titiv e ten d ers w ill be a cce p te d in an am ount sufficient to provide a fair d eterm ination of the price. A d d itio n a l te n d e r s r e c e iv e d fr o m G o v e r n m e n t a c c o u n ts and F ederal Reserve B anks will be accepted at the w e ig h te d a v e r a g e p r ic e o f a c c e p te d c o m p e titiv e te n d e r s. III. 6. Those subm itting com petitive advised of the acceptance or rejection subm itting noncom petitive tenders will except when the ten d er is not accepted the price is over par. IV . tenders will be thereof. Those not be notified in full or when R E SE R V A T IO N S IV. 1. The Secretary of the T reasury e x p r e s s l y r e s e r v e s t h e r ig h t t o a c c e p t o r r e j e c t a n y o r a il t e n d e r s in w h o le or in p art, to allot m ore or less th an the am ount of s e c u r i t i e s s p e c i f i e d in S e c t i o n I, a n d t o m a k e d i f f e r e n t percentage allotm ents to various classes o f applicants to b e in t h e p u b l i c i n t e r e s t , a n d h is action in any such respect shall be final. w h e n h e d e e m s it V. m u st be m ade or c o m p le te d on or hereunder b e fo r e M onday, November 15, 1976, at the Federal Reserve Bank or B r a n c h , or th e B u r e a u o f th e P u b lic D e b t, w h e r e th e ten d er was su bm itted, and m ust include accrued in ter est fr o m A u gu st 15 to N ovem ber 15, 1976, in th e am ount of $19.68750 per $1,000 of securities allotted. P a y m e n t m u s t b e in c a s h ; in o t h e r f u n d s i m m e d i a t e l y available to the T reasury; in T reasury bills, notes or bonds ( w it h a ll coupons d e ta c h e d ) m a tu r in g on or before the settlem ent d ate b u t which are not overdue, as d e fin e d in th e general r e g u la tio n s V. 2. In every case where full paym ent is not com pleted on tim e, the deposit subm itted with the tender, up to 5 percent of the face am ount of securities allotted, shall, at the discretion of the Secretary of the Treasury, be forfeited to the U nited States. V. 3. Registered securities tendered as deposits and in paym ent for securities allotted hereunder are not required to be assigned if the new securities are to be registered in the sam e nam es and form s as app ear in the registrations or assignm ents of the securities surrendered. Specific instructions for the issuance and delivery of the new securities, signed by the owner or his authorized representative, m ust accom pany the securi ties presented. Otherwise, the presented securities should be assigned by the registered payees or assignees thereof in accordance with the general regulations governing U nited States securities, as hereinafter set forth. W hen the new securities are to be registered in nam es and forms different from those in the in scriptions or assignm ents of the securities presented, the assignm ent should be to “ The Secretary of the Treasury for (securities offered herein) in the nam e of (nam e and taxpayer identifying num ber).” If new securities in coupon form are desired, the assignm ent should be to “ The Secretary of the Treasury for coupon (securities offered herein) to be delivered to (nam e and address).” Securities tendered in paym ent should be surrendered to the Federal Reserve B ank or Branch or to the Bureau of the Public Debt, W ashington, D.C. 20226. The securities m ust be delivered at the expense and risk of the holder. V. 4. If bearer securities are not ready for delivery on the settlem ent date, purchasers may elect to receive P A Y M E N T A N D D E L IV E R Y V. 1. Settlem ent for securities allotted Service (an individual’s social security num ber or an employer identification num ber) is not furnished. W hen paym ent is made in securities, a cash adjustm ent will be m ade to or required of the bidder for any difference between the face am ount of securities presented and the am ount payable on the securities allotted. g o v e r n in g interim certificates. These certificates shall be issued in bearer form and shall be exchangeable for the securities offered herein, when such securities are available, at any Federal Reserve B ank or Branch, or at the Bureau of the Public Debt, Washington, D.C. 20226. The interim certificates m ust be returned at the risk and expense of the holder. V. 5. Delivery of securities in registered form will be m ade after the requested form of registration has been validated, the registered interest account has been established, and the securities have been inscribed. U n ite d V I. States securities; or by check draw n to the order of the in s titu tio n to w h ic h th e te n d e r w a s s u b m itte d , w h ic h m ust be received at such institution no later than: (a ) W ednesday, N o v e m b e r 1 0 , 1 9 7 6 , i f t h e c h e c k is draw n on a b an k in the Federal Reserve D istrict of the institution to which th e check is s u b m i t t e d ( t h e F if t h Federal Reserve D istrict in case of the B ureau of the Public D e b t ) , or (b ) T u e s d a y , N o v e m b e r 9 , 1 9 7 6 , i f t h e c h e c k is d r a w n on a b an k in another Federal Reserve District. Checks received after the dates set forth in the p re ceding sentence will not be accepted unless they are payable at the applicable Federal Reserve Bank. Pay m ent will not be deem ed to have been com pleted where registered securities are requested if the ap p ropriate indentifying nu m b er as required on tax retu rns and other docum ents subm itted to the Internal Revenue G EN ER A L PR O V ISIO N S VI. 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 m ake delivery of seeurities on full-paid allotm ents, and to issue interim certificates pending delivery of definitive securities. VI. 2. The Secretary of the Treasury may at any or from time to amendatory rules and time, time, prescribe supplemental or regulations governing the offer ing, which will be communicated promptly to the Federal Reserve Banks. GEORGE H. DIXON, A cting Secretary of the T reasury.
@FedFRASER