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FED ER A L RESERVE BANK O F N EW YORK Fiscal Agent of the United States E Circular No. 8 I 81 "- 1 eptember 14, 1977J T R E A S U R Y T O A U C T IO N $3,136 M IL L IO N O F 2 -Y E A R N O TES To All Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The follow ing statement was issued yesterday by the Treasury Department: The Department o f the Treasury will auction $3,136 million o f 2-year notes to refund $3,136 million of notes held by the public maturing September 30, 1977. Additional amounts o f these notes may be issued at the average price o f accepted tenders to Government accounts and to Federal Reserve Banks for their own account in exchange for $90 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 sum m arizing the highlights o f the offering. Copies o f the official offering circular will be furnished upon request directed to our Governm ent Bond Division (Tel. No. 212-791-6356). Bidders subm itting noncom petitive tenders should realize that it is possible that the average price may be above par, in which case they would have to pay m ore than the face value for the securities. If payment is m ade 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 Y ork; checks endorsed to this Bank will not be accepted. Enclosed is a copy o f 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 o f transmitting their tenders. A recorded message (at the Head O ffice — Tel. No. 212-791-5823; at the B uffalo Branch — Tel. No. 716-849-5046) provides inform ation about this and other Treasury offerings; additional inquiries regarding this offering may be m ade by calling, at the Head O ffice, Tel. No. 212-791-6619 or 212-791-5465, or, at the Buffalo Branch, Tel. No. 716-849-5016. PAU L A. V O L C K E R , President. (Over) HIGHLIGHTS OF TREASURY OFFERING TO THE PUBLIC OF 2-YEAR NOTES TO BE ISSUED SEPTEMBER 30, 1977 Amount Offered: To the public..................................................................................... Description of Security: Term and type of security.............................................................. Series and CUSIP designation ...................................................... Maturity d a te................................................................................... Call date ....................................................................................... Interest coupon rate........................................................................ Investment yield............................................................................... Premium or discount...................................................................... Interest payment dates.................................................................... Minimum denomination available................................................ Terms of Sale: Method of sale ................................................................................. Accrued interest payable by investor............................................ Preferred allotment ........................................................................ Deposit requirement........................................................................ Deposit guarantee by designated institutions............................. Key Dates: Deadline for receipt of tenders...................................................... Settlement date (final payment due) a) Cash or Federal funds................................................................ b) Check drawn on bank within FRB district where submitted . c) Check drawn on bank outside FRB district where submitted Delivery date for coupon securities.................................................. $3,136 million 2-year notes Series U-1979 (CUSIP No. 912827 HA3) September 30, 1979 No provision To be determined, based on the average of accepted bids To be determined at auction To be determined after auction March 31 and September 30 $5,000 Yield auction None Noncompetitive bid for $1,000,000 or less 5% of face amount Acceptable Wednesday, September 21, 1977, by 1:30 p.m., EDST Friday, September 30, 1977 Monday, September 26, 1977 Friday, September 23, 1977 Friday, September 30, 1977
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