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FED ER A L RESERVE BANK O F N EW YORK Fiscal Agent of the United States Circular No. 8091 April 13, 1977 TREASURY TO AUCTION $1,469 MILLION OF 2-YEAR NOTES To A ll Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following statement was issued yesterday by the Treasury Department: The Department of the Treasury will auction $1,469 million of 2-year notes to refund $1,469 million of notes held by the public maturing April 30, 1977, Additional amounts of these notes may be issued at the average price of accepted tenders to Government accounts and to Federal Reserve Banks for their own account in exchange for $110 million maturing notes held by them, and to Federal Reserve Banks as 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 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 transmitting 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 212-791-5465, or, at the Buffalo Branch, Tel. No. 716-849-5016. PAUL A. VOLCKER, President. (Over) HIGHLIGHTS OF TREASURY OFFERING TO THE PUBLIC OF 2-YEAR NOTES TO BE ISSUED MAY 2,1977 Amount Offered: To the public................................. $1,469 million Description of Security: Term and type of security.......... 2-year notes Series and CUSIP designation . . , Series P-1979 (CUSIP No. 912827 GR7) Maturity d a t e ............................... April 30, 1979 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................. October 31 and April 30 Minimum denomination available $5,000 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, April 19, 1977, by 1:30 p.m., EST Settlement date (final payment due) a) Cash or Federal funds.................................................................................... Monday, May 2, 1977 b) Check drawn on bank within FRB district where submitted..................... Thursday, April 28, 1977 c) Check drawn on bank outside FRB district where subm itted................... Tuesday, April 26, 1977 Delivery date for coupon securities.................................................................... Monday, May 2, 1977
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