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FED ER A L R ESER VE BANK O F N EW YORK Fiscal Agent of the United States Circular No. 8073 March 22. 197^ TREASURY TO AUCTION $2,250 MILLION OF S-YEAR 1-MONTH NOTES To All Ranking Institutions, and Others Concerned, tn the Second Federal Reserve District The following statement was issued yesterday by the Treasury Department: The Department of the Treasury will auction $2,250 million of 5-year 1-month notes to raise new cash. Additional amounts of the notes may be issued to Federal Reserve Banks as agents of foreign and international monetary authorities at the average price of accepted tenders. 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 subm itting noncompetitive tenders 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 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; checks endorsed to this Bank will not be accepted. Enclosed is a copy of the form to be used in submitting tenders. If there is any doubt that tenders sent by mail will reach this Bank or its Branch on time, bidders should use other means of transm itting their tenders. A recorded message (at the Head Office — Tel. No. 212-791-5823; at the Buffalo Branch — Tel. No. 716-849-5046) provides information about this and other Treasury offerings; additional inquiries regarding this offering may be made by calling, at the Head Office, Tel. No. 212-791-6619 or 21 2-791-5465, or. at the Buffalo Branch. Tel. No. 716-849-5016. PAUL A. VOLCKER. President. (Over) HIGHLIGHTS OF TREASURY OFFERING TO THE PUBLIC OF 5-YEAR 1-MONTH NOTES TO BE ISSUED APRIL 4, 1977 Amount Offered: To the public............................... $2,250 million Description of Security: Term and type of security.......... 5-year 1-month notes Series and CUSIP designation . . Series E-1982 (CUSIP No. 912827 GQ9) Maturity d a t e ............................. May 15. 1982 Call date ...................................... No provision Interest coupon ra te ..................... 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................. November 15 and May 15 (first payment on November 15, 1977) Minimum denomination available $ 1,000 Terms of Sale: Method of sale .............................................. Yield auction Accrued interest payable by investor........... None Preferred allotment ..................................... Noncompetitive bid for $1,000,000 or less Deposit requirement...................................... 5% of face amount Deposit guarantee by designated institutions Acceptable Key Dates: Deadline for receipt of tenders.......................................................................... Tuesday, March 29, 1977 by 1:30 p.m., EST Settlement date (final payment due) a) Cash or Federal funds................................................................................... Monday, April 4, 1977 b) Check drawn on bank within FRB district where submitted....................... Friday.April 1, 1977 c) Check drawn on bank outside FRB district where subm itted..................... Friday,April 1, 1977 Delivery date for coupon securities..................................................................... Friday,April 8, 1977 IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Tuesday, March 29, 1977 TENDER FOR TREASURY NOTES OF SERIES E-1982 Dated April 4, 1977 Due May 15, 1982 Dated at FEDERAL RESERVE BANK OF NEW YORK, Fiscal Agent of the United States, New York, N.Y. 10045 The undersigned hereby offers to purchase United States of America Treasury Notes of Series E-1982 in the amount indicated below, and agrees to make payment therefor at }rour Bank on or before the issue date at the price awarded on this tender. COMPETITIVE TENDER Do not fill in both Competitive and Noncompetitive tenders on one form $ ........................................................(maturity value) or any lesser amount that may be awarded. Y ield:........ NONCOMPETITIVE TENDER $ ....................................................... (maturity value) (Not to exceed $1,000,000for one bidder through all sources) at the average price of accepted competitive bids. (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 $ 1,000 5,000 10,000 1_] 100,000 1,000,000 Payment will be made as follows: ] By charge to our reserve account ] By cash or check in immediately 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 | available funds ] By surrender of maturing securities . VHold r ,, 4. as collateral etor t1 reasury -rlax and Loan Account * 1—1 5. Special instructions LJ (No changes in delivery instructions will be accepted) 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.) WE HEREBY CERTIFY 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. WE FURTHER CERTIFY 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. (Name of subscriber — please print or type) I n s e r t th is te n d e r in s p e c ia l e n v e lo p e m a r k e d (Address — incl. City and State) (Tel. No.) “ T e n d e r fo r T rea su ry N o te s o r B o n d s ’’ (Signature of subscriber or authorized signature) (Title of authorized signer) (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: 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 a t th e s a m e y ie ld 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 April 4, 1977. If payment is by check drawn on a bank in this District, it must be received by April 1, 1977; checks drawn on a bank in another District must also be received by April 1, 1977. 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 that, in the opinion of the Secretary of the Treasury, is material, the tender may be disregarded. [Enc. Cir. No. 8073] (OVER) SUBSCRIPTION NO SCHEDULE FOR ISSUE OF REGISTERED TREASURY NOTES OF SERIES E-1982 DELIVERY INSTRUCTIONS S U B S C R IB E R n DELIVER OVER THE COUNTER S IG N A T U R E _ □ SHIP TO SUBSCRIBER A D D R E S S ____ □ OTHER INSTRUCTIONS: PAYMENT INSTRUCTIONS FOR FR B USE O N LY □ BY CHARGE TO OUR RESERVE ACCOUNT □ BY CASH OR CHECK IN TRANS. A C C O U N T I N G D A T E I M M E D IA T E L Y A V A I L A B L E FUNDS □ BY SURRENDER OF MATURING SECURITIES I S S U E A G E N T 12 LO AN CODE A P R I L 4, 1977 Z IP R E G IS T R A T IO N NO. OF PIECES IN S T R U C T IO N S N A M E (S ) ID OR S.S. INTEREST 30 AMOUNT SERIAL NOS. (L EA VE BLANK) FOR FRB COMP. DATE USE ONLY 1 ,0 0 0 32 5,000 34 10,000 38 100,000 NO. ADDRESS 1 , 0 0 0 ,0 0 0 Z IP N A M E (S ) TR . CASE NO. 30 1,000 5,000 ID O R S.S. 10,000 NO. 100,000 ADDRESS 42 Z IP N A M E (S ) 1, 000 ,0 0 0 TOTAL 30 1 ,0 0 0 32 5,000 TR . CASE NO. 10,000 ID O R S.S. NO. 100,000 ADDRESS 1,00 0 ,0 0 0 99 TR . CASE NO. 1 ,0 0 0 N A M E (S ) ID O R S.S. TOTAL 32 5,000 34 1 0 ,0 0 0 42 1 , 0 0 0 ,0 0 0 99 TOTAL NO. 100,000 ADDRESS Z IP N A M E (S ) 30 1,000 32 5,000 TR . CASE NO. 1 0 ,0 0 0 I D O R S.S. N O . 1 0 0 ,0 0 0 ADDRESS 1 , 0 00 ,00 0 Z IP 99 TOTAL TR . CASE NO. 110-01