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F E D E R A L R E S E R V E BANK O F NEW YO RK Fiscal Agent of the United States f”~ ircu la r C N o. 8154 July 28, 1977 T R E A S U R Y A N N O U N C E S A U G U S T Q U A R T E R L Y F IN A N C IN G To All Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following statement was issued yesterday o f the Treasury Department: The Treasury will raise about $3,000 million o f new cash and refund $3,278 million of securities maturing August 15, 1977, by issuing $3,000 million of 3-year notes, $2,250 million of 7-year notes, and $1,000 million o f 29V2-year bonds. The bonds represent an addition to bonds which are currently outstanding. The $3,278 million o f maturing securities to be refunded in the general offering are those held by the public. Government accounts and Federal Reserve Banks, for their own accounts, hold $1,640" million of maturing securities that may be refunded by issuing additional amounts of new securities. Additional amounts 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 monetary authorities. Printed on the reverse side is a table summarizing the highlights o f the offering. Copies o f the official offering circulars will be furnished upon request directed to our Government Bond Division (Tel. No. 212-791-6356). 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 o f New York; checks endorsed to this Bank will not be accepted. Enclosed are copies o f the forms 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 o f 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 OFFERINGS TO THE PUBLIC AUGUST 1977 FINANCING TO BE ISSUED AUGUST 15, 1977 3-Year Notes 7-Year Notes 29-Vi-Year Bonds $ 2 ,2 5 0 m illion $ 1,000 m illio n 7 -yea r n otes 2 9 -‘/a -ye a r b o n d s Amount Offered: T o the p u b l i c ............................................ . .$ 3 ,0 0 0 m illion Description of Security: T erm an d typ e o f s e c u r it y .................... . . 3 -y ea r notes Series B -1 9 8 4 7 - 5 /8 % B o n d s o f 2 00 2 -2 0 0 7 (C U S IP N o. 9 1 2 8 2 7 G X 4 ) (C U S IP N o. 9 1 2 8 1 0 B X 5 ) M a tu rity d a t e .............................................. . .A u g u s t 15, 1980 A u g u st 15, 1984 F e b ru a ry 15, 2 00 7 C all d a t e ........................................................ . N o p rov ision N o p ro v is io n F e b ru a ry 15, 2002 Interest c o u p o n r a t e ................................ . T o b e d e te rm in e d , b a s e d o n the T o b e d e te rm in e d , b a se d o n the 7 - 5 /8 % Series and C U S I P d e s i g n a t i o n ............. . Series H -1 9 8 0 (C U S IP N o. 912 8 2 7 G W 6 ) a vera ge o f a cce p te d b id s a vera g e o f a cce p te d b id s Investm ent y i e l d .......................................... . T o b e d ete rm in e d at a u ctio n T o b e d e te rm in e d at a u ctio n T o b e d e te rm in e d at a u ction P rem iu m o r d is c o u n t ................................ .T o b e d ete rm in e d a fter a u ctio n T o b e d e te rm in e d a fte r a u ctio n T o b e d e te rm in e d a fte r a u ctio n Interest p a ym en t d a t e s ........................... .F e b ru a r y 15 and A u g u st 15 F e b ru a ry 15 an d A u g u st 15 F e b ru a ry 15 an d A u gu st 15 M in im u m d e n o m in a tio n a v a i l a b l e .. . .$ 5 ,0 0 0 $ 1,000 $ 1,000 Y ie ld a u ctio n P rice a u ctio n A ccru e d interest p a y a b le b y in v e s t o r . . N on e N one N on e P referred a l lo t m e n t ........................... . N o n co m p e titiv e b id fo r N o n co m p e titiv e b id fo r N o n co m p e titiv e b id fo r $ 1,000,000 o r less $ 1 ,000,000 o r less $ 1,000,000 o r less Terms of Sale: M e th o d o f s a l e ....................................... D ep osit r e q u ir e m e n t .................... .Y ie ld a u ction . 5 % o f fa c e a m o u n t 5% o f fa c e a m o u n t 5 % o f fa ce a m o u n t . A c c e p t a b le A c c e p t a b le A c c e p t a b le W e d n e s d a y , A u g u st 3, 1977 T h u rsd a y , A u g u st 4 , 1977 D ep osit gu a ra n tee b y d esig n a ted in s t it u t io n s ....................................... Key Dates: D ea d lin e fo r re c e ip t o f te n d e r s ............ .T u e s d a y , A u g u st 2, 1977 b y 1 :3 0 p .m ., E D S T b y 1 :3 0 p .m ., E D S T b y 1 :3 0 p .m ., E D S T M o n d a y , A u g u st 15, 1977 M o n d a y , A u g u st 15, 1977 T h u rsd a y , A u g u st 11, 1977 T h u rsd a y , A u g u st 11, 1977 W e d n e s d a y , A u g u st 10, 1977 W e d n e s d a y , A u g u st 10, 1977 M o n d a y , A u g u st 15, 1977 M o n d a y , A u g u st 15, 1977 S ettlem en t d a te (fin a l p a y m en t d u e) a) ca sh o r F ed era l fu n d s ................. .M o n d a y , A u g u st 15, 1977 b ) c h e c k d ra w n o n b a n k w ithin F R B d istrict w h ere su b m itted . . .T h u r s d a y , A u g u st 11, 1977 c ) c h e c k d ra w n o n b a n k o u tsid e F R B d istrict w h ere su b m itted . . .W e d n e s d a y , A u g u st 10, 1977 D elivery d a te fo r c o u p o n secu rities . . .M o n d a y , A u g u st 15, 1977 UNITED STATES OF AMERICA TREASURY NOTES OF AUGUST 15, 1980 SERIES DEPARTMENT CIRCULAR Public Debt Series - No. 17-77 1. 1. 1. H-1980 DEPARTMENT OF THE TREASURY, OFFICE OF THE SECRETARY, Washington, July 28, 1977. INVITATION FOR TENDERS The Secretary of the Treasury, under the authority of the Second Liberty Bond Act, as amended, invites tenders for approximately $3,000,000,000 of United States securities, designated Treasury Notes of August 15, 1980, Series H-1980 (CUSIP No. 912827 GW 6). The securities will be sold at auction with bidding on the basis of yield. Payment will be required at the price equivalent of the bid yield of each accepted tender. The interest rate on the securities and the price equivalent of each accepted bid will be determined in the manner described below. Additional amounts of these securities may be issued to Government accounts and Federal Reserve Banks for their own account in exchange for maturing Treasury securities. Additional amounts may also be issued for cash to Federal Reserve Banks as agents of foreign and international monetary authorities. 2. 2. 1. DESCRIPTION OF SECURITIES The securities will be dated August 15, 1977, and will bear interest from that date, payable on a semiannual basis on February 15, 1978, and each subsequent 6 months on August 15 and February 15 until the principal becomes payable. They will mature August 15, 1980, and will not be subject to call for redemption prior to maturity. 2. 2. The income derived from the securities is subject to all taxes imposed under the Internal Revenue Code of 1954. The securities 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, any possession of the United States, or any local taxing authority. 2. 3. The securities will be acceptable to secure deposits of public monies. They will not be acceotable in payment of taxes. - 2 - 2. 4. Bearer securities with interest coupons attached, and securities registered as to principal and interest, will be issued in denominations of $5,000, $10,000, $100,000, and $1,000,000. Book- entry securities will be available to eligible bidders in multiples of those amounts. Interchanges of securities of different denominations and of coupon, registered and book-entry securities, and the transfer of registered securities will be permitted. 2. 5. The Department of the Treasury's general regulations governing United States securities apply to the securities offered in this circular. These general regulations include those currently in effect, as well as those that may be issued at a later date. 3. 3. 1. SALE PROCEDURES Tenders will be received at Federal Reserve Banks and Branches and at the Bureau of the Public Debt, Washington, D. C. 20226, up to 1:30 p.m., Eastern Daylight Saving time, Tuesday, August 2, 1977. Noncompetitive tenders as defined below will be considered timely if postmarked no later than Monday, August 1, 1977. 3. for. 2. Each tender must state the face amount of securities bid The minimum bid is $5,000 and larger bids must be in multiples of that amount. Competitive tenders must also show the yield desired, expressed in terms of an annual yield with two decimals, e.g., 7.11%. Common fractions may not be used. Noncompetitive tenders must show the term "noncompetitive'’ on the tender form in lieu of a specified yield. No bidder may submit more than one noncompetitive tender and the amount may not exceed $1,000,000. 3. 3. All bidders must certify that they have not made and will not make any agreements for the sale or purchase of any securities of this issue prior to the deadline established in Section 3.1. for receipt of tenders. Those authorized to submit tenders for the account of customers will be required to certify that such tenders are submitted under the same conditions, agreements, and certifications as tenders submitted directly by bidders for their own account. -3 - 3. 4. Commercial banks, which for this purpose are d e f i n e d as banks accepting demand deposits, and primary dealers, which for this purpose are defined as dealers who make primary marKets in Government securities and report daily to the Federal Reserve Bank of New York their positions in and borrowings on such securities, may submit tenders for account of customers if the names of the customers and the amount for each customer are furnished. Others are only permitted to submit tenders for their own account. 3. 5. Tenders will be received without deposit for their own account from commercial banks and other banking institutions; primary dealers, as defined above; Federally-insured savings and loan associations; States, and their political subdivisions or instrumentalities; public pension and retirement and other public funds; international organizations in which the United States holds member ship; 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 securities applied for (in the form of cash, maturing Treasury securities or readily collectible checks), or by a guarantee of such deposit by a commercial bank or a primary dealer. 3. 6. Immediately after the closing hour, tenders will be opened, followed by a public announcement of the amount and yield range of accepted bids. Subject to the reservations expressed in Section 4, noncompetitive tenders will be accepted in full at the weighted average price (in three decimals) of accepted competitive tenders, and competitive tenders 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, a coupon rate will be established, on the basis of a 1/8 of one percent increment, which results in an equivalent average accepted price close to 100.000 and a lowest accepted price above the original issue discount limit of 99.250. of the securities. That rate of interest will be paid on all Based on such interest rate, the price on each competitive tender allotted will oe determined and each successful competitive bidder will be required to pay the price equivalent 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. If the amount of noncompetitive tenders received would absorb all or most of the offering, competitive tenders will be accepted in an amount sufficient to provide a fair determination of the yield. Tenders received from Government accounts and Federal Reserve Banks will be accepted at the weighted average price of accepted competi tive tenders. 3. 7. Competitive bidders will be advised of the acceptance or rejection of their tenders. Those submitting noncompetitive tenders will only be notified if the tender is not accepted in full or when the price is over par. 4. 4. 1. RESERVATIONS The Secretary of the Treasury expressly reserves the right to accept or reject any or all tenders in whole or in part, to allot more or less than the amount of securities specified in Section 1 and to make different percentage allotments to various classes of applicants when the Secretary considers it in the public interest. The Secretary’s action under this Section is final. 5. 5. 1. PAYMENT AND DELIVERY Settlement for allotted securities must be made or com pleted on or before Monday, August 15, 1977, at the Federal Reserve Bank or Branch or at the Bureau of the Public Debt, wherever the tender was submitted. Payment must be in cash; in other funds immediately available to the Treasury; in Treasury bills, notes or bonds (with all coupons detached) maturing on or before the settle ment date but which are not overdue as defined in the general regu lations governing United States securities; or by check drawn to the order of the institution to which the tender was submitted, which must be received at such institution no later than: (a) Thursday, August 11, 1977, if the check is drawn on a bank in the Federal Reserve District of the institution to which the check is submitted (the Fifth Federal Reserve District in case of the Bureau of the Public Debt), or (b) Wednesday, August 10, 1977, if the check is drawn on a bank in another Federal Reserve District. -5 - Checks received after the dates set forth in the preceding sentence will not be accepted unless they are payable at the applicable Federal Reserve Bank. Payment will not be considered complete where registered securities 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. When payment is made in securities, a cash adjustment will be made to or required of the bidder for any difference between the face amount of securities presented and the amount payable on the securities allotted. 5. 2. In every case where full payment is not completed on time, the deposit submitted with the tender, up to 5 percent of the face amount of securities allotted, shall, at the discretion of the Secretary of the Treasury, be forfeited to the United States. 5. 3. Registered securities tendered as deposits and in payment for allotted securities are not required to be assigned if the new securities are to be registered in the same names and forms as appear in the registrations or assignments of the securities surrendered. When the new securities are to be registered in names and forms different from those in the inscriptions or assignments of the securities presented, the assignment should be to "The Secretary of the Treasury for (securities offered by this circular) in the name of (name and taxpayer identifying number)." If new securities in coupon form are desired, the assignment should be to "The Secretary of the Treasury for coupon (securities offered by this circular) to be delivered to (name and address)." Specific instructions for the issuance and delivery of the new securities, signed by the owner or authorized representative, must accompany the securities presented. Securities 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 securities must be delivered at the expense and risk of the holder. 5. 4. If bearer securities are not ready for delivery on the settlement date, purchasers may elect to receive interim certificates. These certificates shall be issued in bearer form and shall be exchangeable for definitive securities of this issue, when such securities are 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. 5. 5. Delivery of securities in registered form will be made after the requested form of registration has been validated, the registered interest account has been established, and the securities have been inscribed. 6. 6. 1. GENERAL PROVISIONS As fiscal agents of the United States, Federal Reserve Banks are authorized and requested to receive tenders, to make allotments as directed by the Secretary of the Treasury, to issue such notices as may be necessary, to receive payment for and make delivery of securities on full-paid allotments, and to issue interim certificates pending delivery of the definitive securities. 6. 2. The Secretary of the Treasury may at any time issue supplemental or amendatory rules and regulations governing the offering. Public announcement of such changes will be promptly provided. David Mosso, Fiscal Assistant Secretary. Form NB IMPORTANT—Closing time for receipt of this tender is 1:30 p.m., Tuesday, August 2, 1977 T E N D E R FOR T R E A S U R Y N O T E S O F SERIES H -1980 Due August 15, 1980 Dated at FE D E RA L RESERVE BANK O F NEW Y O R K , F iscal A g en t o f the U n ited States, N ew Y o r k . N .Y . 10045 ..............................................................19 .. The undersigned hereby offers to purchase the above-described United States of America Treasury Notes of Series H-1980 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. Do not fill in both Competitive and Noncompetitive tenders on oneform COMPETITIVE TENDER in in scrib in g the secu rities and e s ta b lis h in g and se rv icin g the ow n e rsh ip an d interest re cord s. The tra n saction will not be co m p le te d unless all req u ired d a ta is fu rn ish ed . The in d ivid u a lly id e n tifia b le in fo rm a tio n re q u ired on this fo rm is necessary to p e rm it the s u b scrip tio n to b e p ro ce sse d and the securities to b e issu ed . I f registered securities P R IV A C Y A C T S T A T E M E N T are req u ested , the reg u la tio n s g o v e rn in g U nited States s e cu rities (D ep a rtm e n t C ir cu la r N o. 300) and the o ffe rin g circ u la r re q u ire su b m issio n o f so cia l security n u m b e rs; the n u m b e rs an d o th e r in fo rm a tio n are used Dated August 15, 1977 $ ............................................................................. . . . . (maturity value) NONCOMPETITIVE TENDER $ .......................................................... (maturity value) (Not to exceed S1,000,000for one bidder through all sources) or any lesser amount that may be awarded. Y ie ld :........ 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 D e n o m in a tio n XXX xxxxxx $ I 1 M a tu rity value XXX XXX 5 ,0 0 0 XXX 1. D eliver ov e r the co u n te r to the u n d ersig n ed | | 2. S h ip to the u n d ersig n ed | | 3 . H o ld in sa fe k e e p in g (fo r m e m b e r b a n k on ly ) in — P aym ent will b e m a d e as fo llo w s: 1 By ch a rg e to o u r reserve a cco u n t M By cash o r ch e ck in immediately available funds 1 1 By su rren d er o f m a tu rin g securities Investm ent A c c o u n t ] 10,000 0 100,000 G e n e ra l A c c o u n t 4. H old as co lla te ra l fo r T rea su ry T a x D ^Pe c ' a * in stru ction s and L oa n A c c o u n t * 1. 000,000 (No changes in delivery instructions will be accepted) T o ta ls * I he u n d ersig n ed certifies that the allotted secu rities will b e o w n e d solely b y the u n d e rsig n e d . ( I f a c o m m e r c ia l b a n k o r d ea ler is s u b s cr ib in g fo r its ow n a c c o u n t o r fo r a c c o u n t o f cu sto m e rs, th e follow in g ce r tifica tio n s are m a d e a part o f this te n d e r.) WE HEREBY CER TIEY that we have not made and will not make any agreements for the sale or purchase of any securities of this issue prior to 1:30 p.m., Tuesday. August 2, 1977. WE FURTHER CERTIFY that we have received tenders from customers in the amounts set forth opposite their names on the list which is made a part of this tender, and that we have received and are holding for the Treasury, or that we guarantee payment to the Treasury, of the deposits stipulated in the official offering circular. WE FURTHER CERTIFY that tenders received by us, if any, from other commercial banks or primary dealers for their own account, and for the account of their customers, have been entered with us under the same conditions, agreements, and certifications set forth in this form. (Name of subscriber — please print or type) Insert this tender in special envelope marked “Tender for Treasury Notes or Bonds" (Address — incl. City and State) (Tel. No.) (Signature of subscriber or authorized signature) (Title ofauthori/ed signer) (In stitu tion s s u b m ittin g ten d ers fo r cu s to m e r a c c o u n t m ust list c u s to m e r s ' n a m es on lines b e lo w o r on an a tta ch e d rid er) (Name of customer) (Name of customer) IN S T R U C T IO N S : 1. N o ten d er fo r less than $ 5 ,0 0 0 will b e c o n s id e r e d ; and e a ch te n d e r m ust b e fo r a m u ltip le o f $ 5 ,0 0 0 (m a tu rity value). 2. O n ly b a n k in g in stitu tion s, an d d ea lers w h o m a k e p rim a ry m ark ets in G o v e rn m e n t secu rities and re p o rt d a ily to this B an k their p osition s w ith resp ect to G o v e rn m e n t secu rities a n d b o rro w in g s th e re o n , m ay s u b m it ten d ers fo r cu s to m e r a c c o u n t ; in d o in g so, they m ay c o n s o lid a te c o m p e titiv e ten d ers at the same yield an d m ay c o n s o lid a te n o n co m p e titiv e ten d ers, p ro v id e d a list is a tta ch e d show in g the n a m e ot ea ch b id d e r an d the a m o u n t b id fo r his a cco u n t. O th e rs will not b e p e rm itte d to su b m it ten d ers e x ce p t fo r their o w n a cco u n t. 3. T e n d e rs will b e receiv ed w ith ou t d e p o sit fro m co m m e r c ia l a n d o th e r b a n k s fo r th eir o w n a c c o u n t, fed e ra lly -in su re d savin gs and loan a ssocia tion s, States, p o litica l s u b d iv ision s o r in stru m en talities th e re o f, p u b lic p e n sio n an d retirem en t an d o th e r p u b lic fu n ds, in tern a tion a l org a n iza tio n s in w h ich the U n ited States h o ld s m e m b e rs h ip , fo re ig n ce n tra l b a n k s an d fo re ig n States, d ea lers w h o m a k e p rim a ry m ark ets in G o v e rn m e n t secu rities an d rep ort d a ily to the F ed era l R eserv e B an k o f New Y o r k their p o sitio n s w ith resp ect to G o v e rn m e n t secu rities an d b o rro w in g s th ereon , an d G o v e rn m e n t a cco u n ts. T e n d e r s fr o m o th e rs m ust b e a c c o m p a n ie d b y p a ym en t o f 5 p ercen t o f the fa c e a m o u n t o f the secu rities a p p lie d for. 4. P aym ent m ust b e c o m p le te d b y A u gu st 15, 1977. I f p a ym en t is by ch e ck d ra w n on a b a n k in this D istrict, it m ust b e receiv ed by A u gu st 1 1. 1977; ch e ck s d ra w n on a tb a n k in a n o th e r D istrict m ust be receiv ed by A u gu st 10. 1977. A ll ch e c k s m ust b e draw n to the o rd e r o f the F ed eral R eserve B an k o f New Y o r k ; ch e ck s e n d o rs e d to this B an k will not b e a cce p te d . 5. It the la n g u a g e o l this ten d er is c h a n g e d in any resp ect that, in the o p in io n o f the S ecreta ry o f the T rea su ry , is m ateria l, the ten d er m ay b e d isreg a rd ed . [E n c. C ir. N o. 8154] (O V E R ) SUBSCRIPTION NO SCHEDULE FOR ISSUE OF REGISTERED TREASURY NOTES OF SERIES H-1980 DELIVERY INSTRUCTIONS PAYMENT INSTRUCTIONS S U B S C R IB E R n DELIVER OVER THE COUNTER □ S IG N A T U R E _ □ s h ip A D D R E S S ____ □ OTHER INSTRUCTIONS: TO SUBSCRIBER FO R F R B BY CHARGE TO OUR RESERVE ACCOUNT H BY CASH OR CHECK IN IM M E D IA T E L Y A V A IL A B L E □ BY SURRENDER CF MATURING SECURITIES USE O N LY TRANS. A C C O U N T IN G D A TE FUNDS IS SU E A G E N T 12 LO A N C ODE A U G U S T 15, 1977 Z IP R E G IS T R A T IO N INTEREST C O M P . NO. OF PIECES IN S T R U C T IO N S DENOM. AMOUNT — 5------------------------------ SERIAL NOS. (LEAVE BLANK) FO R F R B DATE USE O N L Y N A M E (S) 32 ID O R S.S. 5.000 34 10,000 NO. 38 Z IP 1 0 0 ,0 0 0 42 ADDRESS 1,000,000 99 TOTAL T R . CASE NO. N A M E (S ) 32 5,000 34 10,000 38 ID O R S.S. 100,000 4? 1,000,000 99 TOTAL NO. ADDRESS Z IP T R . CASE NO. N AM E(S) 32 ID O R S.S. 5,000 34 10,000 NO. 38 Z IP 100,000 42 ADDRESS 1,000,000 99 TOTAL T R . CASE NO. N A M E(S) 32 I D O R S.S. NO. 5,000 34 10,000 38 Z IP 1 0 0 ,0 0 0 42 ADDRESS 1 ,000,000 99 TOTAL T R . CASE NO. N AM E(S) 32 5,000 34 10,000 38 1 0 0 ,0 0 0 42 1 ,000,000 99 TOTAL I D O R S .S . N O . ADDRESS Z IP T R . CASE NO. 1 1 0 -0 1 FORM NA IMPORTANT— Closing time for receipt of this tender is 1 :3 0 p.m ., Wednesday, August 3, 1977 TENDER FO R T R E A SU R Y NOTES OF SERIES B-1984 Dated August 15, 1977 F -d C.ts Si 3 < u ~ss t/j 3 <n OC . v o r z 13 ° 2-0^ o V eserve B a n k of N ew Y o r k Dated at , Fiscal Agent of the United States. New York, N. Y. 10045 , 19.... The undersigned hereby offers to purchase the above-described United States of America Treasury Notes of Series B-1984 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. Do not fill in both Competitive and Non competitive tenders on one form COMPETITIVE TENDER £.2 £ c C /5 /) t/3 R ederal Due August 15, 1984 C NONCOMPETITIVE TENDER JS 6.2 U s « g « ■g-S £ W3 c/D C < ) T* L f. vj: 8 UH .2 _ CO1/1 b -M C 0-3 < 0 •S u u ■ V < S U ■ S-its V u u o .5 $......................................................... (maturity value) or any lesser amount that may be awarded. $......................................................... (maturity value) ( N ot to exceed $1,000,000 for one bidder through all sources) at the average price of accepted competitive bids. Y ield: (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 -SjsI $ Maturity value 1,000 ic | 5,000 E g| s. O o _ < U 2 ^ :5 10,000 100,000 ^ u be S < C S 5 1,000,000 U .3 u «u « □ 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 □ Trust Account □ 4. Hold as collateral for Treasury Tax and Loan Account* Payment will be made as follow s: □ By charge to our reserve account □ By cash or check in immediately available funds □ By surrender of maturing securities (N o changes in delivery instructions ivill 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.) ^ r: 1s - W e H e r e b y C e r t i f y that we have not made and will not make any agreements for the sale any securities of this issue prior to 1 :30 p.m., Wednesday, August 3, 1977. or purchase of W e F u r t h e r C e r t i f y that we have received tenders from customers in the amounts set forth opposite their names on the list which is made a part of this tender, and that we have received and are holding for the Treasury, or that we guarantee payment to the Treasury, of the deposits stipulated in the official offering circular. *5- .5 , J V J. 2 rt W f. F u rth er C e r t if y th a t te n d e rs r e c e iv e d by u s, if any, fro m oth er co m m e rc ia l banks or p r im a r y d e a le r s f o r t h e ir o w n a c c o u n t , a n d f o r th e a c c o u n t o f t h e i r c u s t o m e r s , h a v e b e e n e n t e r e d w i t h u s u n d e r t h e s a m e c o n d itio n s , a g r e e m e n t s , and c e r t if i c a t io n s set fo r th in th is f o r m . <= J (Name of subscriber— please print or type) Insert this tender in special envelope marked “ Tender for Treasury Notes or Bonds” (Address— incl. City and State) (Tel. No.) (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) IN S T R U C T IO N S : 1. N 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 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 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 August 15, 1977. If payment is by check drawn on a bank in this District, it must be re ceived by August 11, 1977; checks drawn on a bank in another District must be received by August 10, 1977. All checks must be drawn to the order of the Federal Reserve Bank of New Y o r k ; 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. 8154] (O V E R ! SCHEDULE FOR ISSUE OF REGISTERED TREASURY NOTES OF SERIES B -1 9 8 4 SUBSCRIPTION NO DELIVERY INSTRUCTIONS PAYMENT INSTRUCTIONS SUBSCRIBER. □ DELIVER OVER THE COUNTER □ SIGNATURE — □ SHIP TO SUBSCRIBER □ □ OTHER INSTRUCTIONS: □ AOORESS___ BY CHARGE TO OUR RESERVE ACCOUNT BY CASH OR CHECK IN IMMEDIATELY AVAILABLE FUNDS BY SURRENDER OF MATURING SECURITIES FOR FRB USE ONLY TRANS. ACCOUNTING DATE IS S U E A G E N T 12 August 15, 1977 ZIP. IN T E R E S T C O M P NO OF PIECES REGISTRATION INSTRUCTIONS NAME(S) 30 32 34 ID OR S.S. NO. 38 ADDRESS 42 ZIP NAME(S) 99 30 DENOM. 1 0 0 ,0 0 0 1 ,0 0 0 ,0 0 0 TOTAL 5 ,0 0 0 1 0 ,0 0 0 1 0 0 ,0 0 0 1 ,0 0 0 ,0 0 0 99 TOTAL 3JL 1 0 ,0 0 0 38 1 0 0 ,0 0 0 42 ZIP 1 ,0 0 0 ,0 0 0 99 TOTAL 30 NAME(S) 32 34 ID OR S.S. NO. 38 ADDRESS 42 ZIP NAME(S) 99 30 32 34 ID OR S.S. NO. TR. CASE NO. 5 ,0 0 0 34 ADDRESS . 1 ,0 0 0 32 ID OR S.S. NO. TR. CASE NO. 1 ,0 0 0 42 NAME(S) 38 TR. CASE NO. 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 TOTAL TR. CASE NO. 1 ,0 0 0 5 ,0 0 0 1 0 ,0 0 0 1 0 0 ,0 0 0 AOORESS 42 ZIP 110-01 1 0 ,0 0 0 38 ZIP DATE FOR FRB USE ONLY 5 ,0 0 0 32 ADDRESS AMOUNT SERIAL NOS (LEAVE BLANK) 1 ,0 0 0 34 ID OR S.S. NO. LOAN CODE 99 1 ,0 0 0 ,0 0 0 TOTAL TR. CASE NO. UNITED STATES OF AMERICA TREASURY NOTES OF AUGUST 15, 1984 SERIES DEPARTMENT CIRCULAR Public Debt Series - No. 18-77 1. 1. 1. B-1984 DEPARTMENT OF THE TREASURY, OFFICE OF THE SECRETARY, Washington, July 28, 1977. INVITATION FOR TENDERS The Secretary of the Treasury, under the authority of the Second Liberty Bond Act, as amended, invites tenders for approximately $2,250,000,000 of United States securities, designated Treasury Notes of August 15, 1984, Series B-1984 (CUSIP No. 912827 GX 4). The securities will be sold at auction with bidding on the basis of yield. Payment will be required at the price equivalent of the bid yield of each accepted tender. The interest rate on the securities and the price equivalent of each accepted bid will be determined in the manner described below. Additional amounts of these securities may be issued to Government accounts and Federal Reserve Banks for their own account in exchange for maturing Treasury securities. Additional amounts may also be issued for cash to Federal Reserve Banks as agents of foreign and international monetary authorities. 2. 2. 1. DESCRIPTION OF SECURITIES The securities will be dated August 15, 1977, and will bear interest from that date, payable on a semiannual basis on February 15, 1978, and each subsequent 6 months on August 15 and February 15 until the principal becomes payable. They will mature August 15, 1984, and will not be subject to call for redemption prior to maturity. 2. 2. The income derived from the securities is subject to all taxes imposed under the Internal Revenue Code of 1954. The securities 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, any possession of the United States, or any local taxing authority. 2. 3. The securities will be acceptable to secure deposits of public monies. They will not be acceptable in payment of taxes. 2. 4. Bearer securities with interest coupons attached, and securities 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 securities will be available to eligible bidders in multiples of those amounts. Interchanges of securities of different denominations and of coupon, registered and book-entry securities, and the transfer of registered securities will be permitted. 2. 5. The Department of the Treasury's general regulations governing United States securities apply to the securities offered in this circular. These general regulations include those currently in effect, as well as those that may be issued at a later date. 3. 3. 1. SALE PROCEDURES Tenders will be received at Federal Reserve Banks and Branches and at the Bureau of the Public Debt, Washington, D. C. 20226, up to 1:30 p.m., Eastern Daylight Saving time, Wednesday, August 3, 1977. Noncompetitive tenders as defined below will be -considered timely if postmarked no later than Tuesday, August 2, 1977. .3. for. 2. Each tender must state the face amount of securities bid The minimum bid is $1,000 and larger bids must be in multiples of that amount. Competitive tenders must also show the yield desired, expressed in terms of an annual yield with two decimals, e.g., 7.11%. Common fractions may not be used. Noncompetitive tenders must show the term "noncompetitive" on the tender form in lieu of a specified yield. No bidder may submit more than one noncompetitive tender and the amount may not exceed $1,000,000. 3. 3. All bidders must certify that they have not made and will not make any agreements for the sale or purchase of any securities of this issue prior to the deadline established in Section 3.1. for receipt of tenders. Those authorized to submit tenders for the account of customers will be required to certify that such tenders are submitted under the same conditions, agreements, and certifications as tenders submitted directly by bidders for their own account. 3. 4. Commercial banks, which for this purpose are defined as banks accepting demand deposits, and primary dealers, which for this purpose are defined as dealers who make primary markets in Government securities and report daily to the Federal Reserve Bank of New York their positions in and borrowings on such securities, may submit tenders for account of customers if the names of the customers and the amount for each customer are furnished. Others are only permitted to submit tenders for their own account. 3. 5. Tenders will be received without deposit for their own account from commercial banks and other banking institutions; primary dealers, as defined above; Federally—insured savings and loan associations; States, and their political subdivisions or instrumentalities; public pension and retirement and other public funds; international organizations in which the United States 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 securities applied for (in the form of cash, maturing Treasury securities or readily collectible checks), or by a guarantee of such deposit by a commercial bank or a primary dealer. 3. 6. Immediately after the closing hour, tenders will be opened, followed by a public announcement of the amount and yield range of accepted bids. Subject to the reservations expressed in Section 4, noncompetitive tenders will be accepted in full at the weighted average price (in three decimals) of accepted competitive tenders, and competitive tenders 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, a coupon rate will be established, on the basis of a 1/8 of one percent increment, which results in an equivalent average accepted price close to 100.000 and a lowest accepted price above the original issue discount limit of 98.250. That rate of interest will be paid on all of the securities. 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 equivalent to -4 - 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. If the amount of noncompetitive tenders received would absorb all or most of the offering, competitive tenders will be accepted in an amount sufficient to provide a fair determination of the yield. Tenders received from Government accounts and Federal Reserve Banks will be accepted at the weighted average price of accepted competitive tenders. 3. 7. Competitive bidders will be advised of the acceptance or rejection of their tenders. Those submitting noncompetitive tenders will only be notified if the tender is not accepted in full or when the price is over par. 4. RESERVATIONS 4. 1. The Secretary of the Treasury expressly reserves the right to accept or reject any or all tenders in whole or in part, to allot more or less than the amount of securities specified in Section and to make different percentage allotments to various classes of applicants when the Secretary considers it in the public interest. The Secretary's action under this Section is final. 5. 5. 1. PAYMENT AND DELIVERY Settlement for allotted securities must be made or completed on or before Monday, August 15, 1977, at the Federal Reserve Bank or Branch or at the Bureau of the Public Debt, wherever the tender was submitted. Payment must be in cash; in other funds immediately available to the Treasury; in Treasury bills, notes or bonds (with all coupons detached) maturing on or before the settle ment date but which are not overdue as defined in the general regulations governing United States securities; or by check drawn to the order of the institution to which the tender was submitted, which must be received at such institution no later than: (a) Thursday, August 11, 1977, if the check is drawn on a bank in the Federal Reserve District of the institution to which the check is submitted (the Fifth Federal Reserve District in case of the Bureau of the Public Debt), or (b) Wednesday, August 10, 1977, if the check is drawn on a bank in another Federal Reserve District. Checks received after the dates set forth in the preceding sentence will not be accepted unless they are payable at the applicable Federal Reserve Bank. Payment will not be considered complete where registered securities 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. When payment is made in securities, a cash adjustment will be made to or required of the bidder for any difference between the face amount of securities presented and the amount payable on the securities allotted. 5. 2. In every case where full payment is not completed on time, the deposit submitted with the tender, up to 5 percent of the face amount of securities allotted, shall, at the discretion of the Secretary of the Treasury, be forfeited to the United States. 5. 3. Registered securities tendered as deposits and in payment for allotted securities are not required to be assigned if the new securities are to be registered in the same names and forms as appear in the registrations or assignments of the securities surrendered. When the new securities are to be registered in names and forms different from those in the inscriptions or assignments of the securities presented, the assignment should be to "The Secretary of the Treasury for (securities offered by this circular) in the name of (name and taxpayer identifying number)." If new securities in coupon form are desired, the assignment should be to "The Secretary of the Treasury for coupon (securities offered by this circular) to be delivered to (name and address)." Specific instructions for the issuance and delivery of the new securities, signed by the owner or authorized representative, must accompany the securities presented. Securities 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 securities must be delivered at the expense and risk of the holder. 5. 4. If bearer securities are not ready for delivery on the settlement date, purchasers may elect to receive interim certificates. These certificates shall be issued in bearer form and shall be exchangeable for definitive securities of this issue, when such -6 securities are 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. 5. 5. Delivery of securities in registered form will be made after the requested form of registration has been validated, the registered interest account has been established, and the securities have been inscribed. 6. 6. 1. GENERAL PROVISIONS As fiscal agents of the United States, Federal Reserve Banks are authorized and requested to receive tenders, to make allotments as directed by the Secretary of the Treasury, to issue such notices as may be necessary, to receive payment for and make delivery of securities on full-paid allotments, and to issue interim certificates pending delivery of the definitive securities. 6. 2. The Secretary of the Treasury may at any time issue supplemental or amendatory rules and regulations governing the offering. Public announcement of such changes will be promptly provided. David Mosso, Fiscal Assistant Secretary. UNITED STATES OF AMERICA 7-5/8% TREASURY BONDS OF 2002-2007 DEPARTMENT CIRCULAR Public Debt Series - No. 19-77 1. DEPARTMENT OF THE TREASURY, OFFICE OF THE SECRETARY, Washington, July 28, 1977. INVITATION FOR TENDERS 1. 1. The Secretary of the Treasury, under the authority of the Second Liberty Bond Act, as amended, invites tenders for approximately $1,000,000,000 of United States securities, designated 7-5/8% Treasury Bonds of 2002-2007 (CUSIP No. 912810 BX 5). The securities will be sold at auction with bidding on the basis of price. Payment will be required at the bid price of each accepted tender in the manner described below. Additional amounts of these securities may be issued to Government accounts and Federal Reserve Banks for their own account in exchange for maturing Treasury securities. Additional amounts may also be issued for cash to Federal Reserve Banks as agents of foreign and international monetary -authorities. 2. 2. 1. DESCRIPTION OF SECURITIES The securities offered will be identical to the 7-5/8% Treasury Bonds of 2002-2007 (CUSIP No. 912810 BX 5) issued under Department of the Treasury Circular, Public Debt Series - No. 4-77, dated January 27, 1977, except that interest will accrue from August 1977, and payment for the securities will be calculated on the basis of the auction price determined in accordance with this circular. With this exception, the securities are as described in the following excerpt from the above circular: "2. 1. The securities will be dated February 15, 1977, and will bear interest‘ from that date, payable on a semiannual basis on d August 15, 1977, and each 6 months thereafter on February 15 and August 15 until the principal becomes payable. They will mature on 10n February 4, 1977, the Secretary of the Treasury announced that the interest rate on the bonds would be 7-5/8 percent per annum. t' - 2 - Feburary 15, 2007, but may be redeemed at the option of the United States on and after February 15, 2002, in whole or in part, at par and accrued interest on any interest payment date or dates, on 4 months' notice of call given in such manner as the Secretary of the Treasury shall prescribe. In case of partial call, the securities to be redeemed will be determined by such method as may be prescribed by the Secretary of the Treasury. Interest on the securities called for redemption shall cease on the date of redemption specified in the notice of call. M2. 2. The income derived from the securities is subject to all taxes imposed under the Internal Revenue Code of 1954. The securities 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. "2. 3. The securities will be acceptable to secure deposits of public moneys. "2. 4. They will not be acceptable in payment of taxes. Bearer securities with interest coupons attached, and securities 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 securities will be available to eligible bidders in multiples of those amounts. Interchanges of securities of different denominations and of coupon, registered and book-entry securities, and the transfer of registered securities will be permitted. "2. 5. The securities will be subject to the general regulations of the Department of the Treasury governing United States securities, now or hereafter prescribed." 3. 1. 3. SALE PROCEDURES Tenders v/ill be received at Federal Reserve Banks and Branches and at the Bureau of the Public Debt, Washington, D. C. 20226, up to 1:30 p.m., Eastern Daylight Saving time, Thursday, August 4, 1977. Noncompetitive tenders as defined below will be considered timely if postmarked no later than Wednesday, August 3, 1977. -33. for. 2. Each tender must state the face amount of securities bid The minimum bid is of that amount. $1,000 and larger bids must be in multiples Competitive tenders must also show the price offered, expressed on the basis of 100 with two decimals, e.g., 100.00. Common fractions may not be used. Only tenders at a price more than the original issue discount limit of 92.75 will be accepted. Noncompetitive tenders must show the term "noncompetitive" on the tender form in lieu of a specified price. No bidder may submit more than one noncompetitive tender, and the amount may not exceed $1,000,000. 3. 3. Commercial banks, which for this purpose are defined as banks accepting demand deposits, and primary dealers, which for this purpose are defined as dealers who make primary markets in Government securities and report daily to the Federal Reserve Bank of New York their positions in and borrowings on such securities, may submit tenders for account of customers if the names of the customers and the amount for each customer are furnished. Others are only permitted to submit tenders for their own account. 3. 4. Tenders will be received without deposit for their own account from commercial banks and other banking institutions; primary dealers, as defined above; Federally-insured savings and loan associations; States, and their political subdivisions or instrumentalities; public pension and retirement and other public funds; international organizations in which the United States 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 securities applied for (in the form of cash, maturing Treasury securities or readily collectible checks), or by a guarantee of such deposit by a commercial bank or a primary dealer. 3. 5. Immediately after the closing hour, tenders will be opened, followed by a public announcement of the amount and price range of accepted bids. Subject to the reservations expressed in Section 4, noncompetitive tenders will be accepted in full at the weighted average price in two decimals of accepted competitive tenders, and competitive tenders at the highest prices will be accepted to the extent required to attain the amount offered. -4 - Tendors at the lowest accepted price will be prorated i£ necessary. Successful competitive bidders will be required to pay the price that they bid. If the amount of noncompetitive tenders received would absorb all or most of the offering, competitive tenders will be accepted in an amount sufficient to provide a fair determination of the price. Tenders received from Government accounts and Federal Reserve Banks will be accepted at the weighted average price of accepted competitive tenders. 3. 6. Competitive bidders will be advised of the acceptance or rejection of their tenders. Those submitting noncompetitive tenders will only be notified if the tender is not accepted in full or when the price is over par. 4. 4. 1. RESERVATIONS The Secretary of the Treasury expressly reserves the right to accept or reject any or all tenders in whole or in part, to allot more or less than the amount of securities specified in Section 1, and to make different percentage allotments to various classes of applicants when the Secretary considers it in the public interest. The Secretary’s action under this Section is final. 5. 5. 1. PAYMENT AND DELIVERY Settlement for allotted securities must be made or completed on or before Monday, August 15, 1977, at the Federal Reserve Bank or Branch or at the Bureau of the Public Debt, wherever the tender was submitted. Payment must be in cash; in other funds immediately available to the Treasury; in Treasury bills, notes or bonds (with all coupons detached) maturing on or before the settlement date but which are not overdue as defined in the general regulations governing United States securities; or by check drawn to the order of the institution to which the tender was submitted, which must be received at such institution no later than: (a) Thursday, August 11, 1977, if the check is drawn on a bank in the Federal Reserve District of the institution to which the check is submitted (the Fifth Federal Reserve District in case of the Bureau of the Public Debt), or (b) Wednesday, August 10, 1977, if the check is drawn on a bank in another Federal Reserve District. Checks received after the dates set forth in the preceding sentence will not be accepted unless they are payable at the applicable Federal Reserve Bank. Payment will not be considered complete where registered securities 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. When payment is made in securities, a cash adjustment will be made to or required of the bidder for any difference between the face amount of securities presented and the amount payable on the securities allotted. 5. 2. In every case where full payment is not completed on time, the deposit submitted with the tender, up to 5 percent of the face amount of securities allotted, shall, at the discretion of the Secretary of the Treasury, be forfeited to the United States. 5. 3. Registered securities tendered as deposits and in payment for allotted securities are not required to be assigned if the new securities are to be registered in the same names and forms as appear in the registrations or assignments of the securities surrendered. When the new securities are to be registered in names and forms different from those in the inscriptions or assignments of the securities presented, the assignment should be to "The Secretary of the Treasury for (securities offered by this circular) in the name of (name and taxpayer identifying number)." If new securities in coupon form are desired, the assignment should be to "The Secretary of the Treasury for coupon (securities offered by this circular) to be delivered to (name and address)." Specific instructions for the issuance and delivery of the new securities, signed by the owner or authorized representative, must accompany the securities presented. Securities 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 securities must be delivered at the expense and risk of the holder. 6- 5. 4. If bearer securities are not ready for delivery on the settlement date, purchasers may elect to receive interim certificates. These certificates shall be issued in bearer form and shall be exchangeable for definitive securities of this issue, when such securities are available, at any Federal Reserve Bank or Eranch 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. 5. 5. Delivery of securities in registered form will be made after the requested form of registration has been validated, the registered interest account has been established, and the securities have been inscribed. 6. 6. 1. GENERAL PROVISIONS As fiscal agents of the United States, Federal Reserve Banks are authorized and requested to receive tenders, to make allotments as directed by the Secretary of the Treasury, to issue such notices as may be necessary, to receive payment for and make delivery of securities on full-paid allotments, and to issue interim certificates pending delivery of the definitive securities. 6. 2. The Secretary of the Treasury may at any time issue supplemental or amendatory rules and regulations governing the offering. provided. Public announcement of such changes will be promptly FORM BA IMPORTANT— Closing time for receipt of this tender is 1:30 p.m., Thursday, August 4, 1977 TENDER FOR 7 % % T R E A SU R Y BONDS OF 2002-2007 A D DITIO N A L A M O U N T P R IV A C Y A C T S T A T E M E N T — The individually identifiable information required on this form is necessary to permit the subscription to be processed and the securities to be issued If registered securities are requested, the regulations governing United States securities (Department Circular No. 300) and the offering circular require submission of social security numbers; the numbers and other information are used in inscribing the securities and establishing and servicing the ownership and interest records. The transaction will not be completed unless all required data is furnished. Dated February 15, 1 9 7 7, with Interest from August 15, 1 9 7 7, Due February 15, 200 7 F ed eral R eserve B a n k of N ew Dated a t ........................................................ iq Y ork, Fiscal Agent of the United States, New York, N.Y. 10045 The undersigned hereby offers to purchase the above-described United States of America Treasury Bonds 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. Price: ................... per 100 (minimum of 92.75) NONCOMPETITIVE TENDER $.......................................................... (maturity value) (N ot to exceed $1,000,000 for one bidder through all sources) at the average price of accepted competitive bids. (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 Denominations $ Maturity value 1,000 5,000 10,000 □ 1. Deliver over the counter to the undersigned □ 2. Ship to the undersigned □ 3. Hold in safekeeping (for member bank only) in— □ Investment Account □ Trust Account 100,000 Payment will be made as follow s: □ By charge to our reserve account □ By cash or check in immediately available funds □ By surrender of maturing securities □ 5. Special instructions. □ 4. Hold as collateral for Treasury Tax and Loan Account* (N o changes in delivery instructions will be accepted) 1,000,000 Totals * The undersigned certifies that the allotted securities will be owned solely by the undersigned. (I f 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. Insert this tender in special envelope marked “Tender for Treasury Notes or Bonds” (Name of subscriber— please print or type) (Address— inch City and State) (Tel. No.) (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) IN S T R U C T IO N S : 1. N 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 at the same p r i c e 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 S percent o f the face amount of the securities applied for. 4. Payment must be^ completed by August 15, 1977. If payment is by check drawn on a bank in this District, it must be re ceived by August 11, 1977; checks drawn on a bank in another District must be received by August 10, 1977. All checks must be drawn to the order of the Federal Reserve Bank of New Y o rk ; 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 o f the Secretary of the Treasury, is material, the tender may be disregarded. [Enc. Cir. No. 8154] ( over) SCHEDULE FOR ISSUE OF REGISTERED TREASURY BONDS OF 2002-2007 SUBSCRIPTION NO DELIVERY INSTRUCTIONS PAYMENT INSTRUCTIONS SUBSCRIBER. □ DELIVER OVER THE COUNTER □ S IG N A T U R E - □ SHIP TO SUBSCRIBER □ □ OTHER INSTRUCTIONS □ ADDRESS ___ BY CHARGE TO OUR RESERVE ACCOUNT BY CASH OR CHECK IN IMMEDIATELY AVAILABLE FUNDS BY SURRENDER OF MATURING SECURITIES FOR FRB USE ONLY TRANS. ACCOUNTING DATE IS S U E A G E N T 1 2 August 15, 1977 ZIP. IN T ER ES T CO M P NO. OF PIECES REGISTRATION INSTRUCTIONS NAME(S) DENOM 30 100,000 42 NAME(S) 1,000,000 99 TOTAL 30 5,000 34 NAME(S) 100,000 42 ZIP 10,000 38 ADDRESS 1,000,000 99 TOTAL liL 100,000 42 ZIP 10,000 38 ADDRESS 5,000 94 1,000,000 99 TOTAL 30 NAME(S) 32 34 ID OR S.S. NO. 5,000 10,000 38 ZIP NAME(S) 100,000 1,000,000 99 30 32 34 ID OR S.S. NO. TOTAL 5,000 10,000 38 ZIP TR. CASE NO, 1,000 100,000 42 ADDRESS TR. CASE NO. 1,000 42 ADDRESS TR. CASE NO. 1,000 32 ID OR S.S. NO. TR. CASE NO. 1,000 32 ID OR S.S. NO. FOR FRB USE ONLY 10,000 38 ZIP DATE 5,000 94 ADDRESS AMOUNT SERIAL NOS (LEAVE BLANK) 1,000 32 ID OR S.S. NO. LOAN COOi 1,000,000 99 TOTAL TR. CASE NO. 110 -0 1
@FedFRASER