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FEDERAL RESERVE BANK
OF N E W YORK
Fiscal Agent of the United States
Circular No. 8240
[,December 20, 1977'll
TREASURY TO AUCTION $1,500 MILLION OF 15-YEAR 1-MONTH BONDS
To All 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 $1,500 million of 15-year 1-month bonds to raise new cash.
Additional amounts of the bonds 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 directed to our Government Bond Division (Tel. No.
212-791-6356).
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, at the Buffalo Branch,
Tel. No. 716-849-5016. (If the inquiry relates to competitive tenders, however, the Head Office number to
call is 212-791-5465.)
PAUL A. VOLCKER,
President.
(Over)
HIGHLIGHTS OF TREASURY
OFFERING TO THE PUBLIC
OF 15-YEAR 1-MONTH BONDS
TO BE ISSUED JANUARY 6,1978
{Delivery' o f coupon securities — January 12, 1978)
Amount Offered:
To the public................................
$1,500 million
Description of Security:
Term and type o f security..........
15-year 1-month bonds
Series and CUSIP designation . .
Bonds of 1993
(CUSIP No. 912810 CA4)
Maturity d a t e ..............................
February 15, 1993
Call date ......................................
No provision
Interest coupon rate........ ............
To be determined, based on the
average of accepted bids
Investment y ie ld ..........................
To be determined at auction
Premium or discou n t..................
To be determined after auction
Interest payment dates................
August 15 and February 15
(first payment on August 15, 1978)
Minimum denomination available
$ 1,000
Terms of Sale:
Method o f sale ..............................................
Yield auction
Accrued interest payable by investor..........
None
Preferred allotm en t......................................
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 o f tenders.............................................................................Tuesday, December 27, 1977,
bv 1:30p.m., EST
Settlement date (final payment due)
a) Cash or Federal funds...................................................................................Friday, January 6, 1978
b) Check drawn on bank within FRB district where submitted.................. Wednesday, January 4, 1978
c) Check drawn on bank outside FRB district where subm itted................ Tuesday. January 3, 1978
Delivery date for coupon securities.......................................................................Thursday, January 12, 1978
Form BA
IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Tuesday, December 27, 1977
TE N D E R F O R 15-Y E A R 1-M O N T H T R E A S U R Y BONDS OF 1993
Due February 15, 1993
FEDERAL RESERVE BANK
OF NEW
Dated at
YO RK ,
F is c a l A g e n t o f th e U n it e d S ta te s,
N e w Y o r k . N .Y . 1 0 0 4 5
1Q
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.
Do not fill in both Competitive and
Noncompetitive tenders on one form
$ .......................................................... (maturity value)
or any lesser amount that may be awarded.
Y ie ld :........
NONCOMPETITIVE TENDER
$ .......................................................... (maturity value)
(Not to exceed $1.000.000 for 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):
P ie c e s
| 1
M a t u r it y v a lu e
D e n o m in a tio n
1.
D e liv e r
over
th e
cou n ter
to
P a y m e n t w ill b e m a d e a s f o ll o w s :
th e
H
u n d e r s ig n e d
b e c o m p le t e d
u n l e s s a ll r e q u i r e d
d a ta
is f u r n i s h e d .
COMPETITIVE TENDER
1,000
$
]
2.
S h ip to th e u n d e r s ig n e d
]
3.
H o ld
bank
5 ,0 0 0
10,000
not
in
,— i
| j
100,000
,
4,
s a fe k e e p in g
B y c h a rg e to o u r reserve a c c o u n t
]
(fo r
available funds
]
o n l y ) in —
1
In v estm en t A c c o u n t
J
G en eral A ccou n t
immediately
B y c a s h o r c h e c k in
m em ber
B y s u r r e n d e r o f m a tu r in g
s e c u r it ie s
,,
, r
-r
-r
H o ld as c o lla t e r a l t o r T r e a s u r y T a x
'— 1
6.
S p e c ia l in s tru ctio n s
r
w il l
and L oan A ccou n t *
1, 000,000
t r a n s a c tio n
1 1
5.
Totals
W ir e
t o ...............................................................................................
(E x a c t R e c e iv in g B a n k W ir e A d d r e s s /A c c o u n t )
The
WE HEREBY CERTIFY that we have not made and will not make anv agreements for the sale or purchase of
any securities of this issue prior to 1:30 p.m., Tuesday, December 27, 1977.
c e r t if ic a t io n s a r e m a d e a p a r t o f th is t e n d e r .)
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 o f 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
“ Tenderfor Treasury
Notes or Bonds”
e s t a b lis h in g
and
s e r v ic in g
th e o w n e r s h ip
and
in te re s t
record s.
* The undersigned certifies that the allotted securities w ill be owned solely bv the undersigned.
( I f a c o m m e r c i a l b a n k o r d e a l e r is s u b s c r i b i n g f o r it s o w n a c c o u n t o r f o r a c c o u n t o f c u s t o m e r s , t h e f o l l o w i n g
(Address — incl. City and State)
(Tel. No.)
(Signature of subscriber or authorized signature)
(Title of authorized signer)
( I n s t i t u t i o n s s u b m i t t i n g t e n d e r s f o r c u s t o m e r a c c o u n t m u s t lis t c u s t o m e r s ’ n a m e s o n l i n e s b e l o w o r o n a n a t t a c h e d r i d e r )
and
th e s e c u r it ie s
in i n s c r i b i n g
s e c u r it ie s
If r e g i s t e r e d
is n e c e s s a r y t o p e r m i t t h e s u b s c r i p t i o n t o b e p r o c e s s e d a n d t h e s e c u r i t i e s t o b e i s s u e d .
T h e i n d iv id u a lly i d e n t if i a b l e i n f o r m a t i o n r e q u ir e d o n th is f o r m
PRIVACY ACT STATEMENT —
a re r e q u e s t e d , th e r e g u la t io n s g o v e r n in g U n it e d S ta te s s e c u r it ie s (D e p a r t m e n t C ir c u la r N o . 3 0 0 ) a n d th e o f fe r in g c ir c u la r r e q u ir e s u b m is s io n o f s o c ia l s e c u r it y n u m b e r s ; th e n u m b e r s a n d o t h e r i n fo r m a t io n a r e u se d
Dated January 6, 1978
(Name of customer)
(Name of customer)
IN S T R U C T IO N S :
1.
No
2.
O n ly b a n k in g
ten d er
fo r
le s s t h a n
$ 1 , 0 0 0 w il l b e
c o n s id e r e d ;
and
each
ten d er
m ust b e
fo r
a m u ltip le
o f $ 1 ,0 0 0
i n s t i t u t i o n s , a n d d e a l e r s w h o m a k e p r i m a r y m a r k e t s in G o v e r n m e n t s e c u r i t i e s a n d
(m a tu r ity v a lu e ).
r e p o r t d a ily t o th is
p o s i t io n s w it h r e s p e c t t o G o v e r n m e n t s e c u r it ie s a n d b o r r o w i n g s t h e r e o n , m a y s u b m it t e n d e r s f o r c u s t o m e r a c c o u n t ;
c o n s o lid a te c o m p e t it iv e te n d e r s
o f each
3.
lo a n
b id d e r
and
b id
fo r
S ta tes,
p o lit ic a l
in te r n a tio n a l o r g a n iz a t io n s
p r im a r y
m a rk ets
s u b d iv is io n s
in w h i c h
th e
U n ite d
in G o v e r n m e n t s e c u r i t i e s
G o v e r n m e n t s e c u r it ie s a n d
p e r c e n t o f th e fa c e
and
or
am ount
o f th e s e c u r itie s
O t h e r s w il l
S ta tes h o ld s
rep ort
be
p e r m it t e d
d a ily
th e r e o f,
m e m b e r s h ip ,
to
th e
G overn m en t
a p p lie d
6,
not
to
s u b m it
te n d e rs e x ce p t
c o m m e r c ia l a n d o t h e r b a n k s f o r th e ir o w n a c c o u n t ,
in s tr u m e n ta litie s
b o r r o w in g s th e re o n , a n d
P a y m e n t m u st b e c o m p le t e d b y J a n u a ry
th e ir
a n d m a y c o n s o l i d a t e n o n c o m p e t i t i v e t e n d e r s , p r o v i d e d a lis t is a t t a c h e d s h o w i n g t h e n a m e
h is a c c o u n t .
T e n d e r s w il l b e r e c e i v e d w i t h o u t d e p o s i t f r o m
a s s o c ia tio n s .
4.
at the same yield
th e a m o u n t
Bank
in d o i n g s o , t h e y m a y
F ed era l
a ccou n ts.
p u b lic
fo r e ig n
and
r e tir e m e n t
cen tra l b a n k s a n d
R eserve
T en ders
p e n s io n
Bank
fro m
of
N ew
oth ers
fo r
fo re ig n
Y ork
m ust
be
th e ir o w n
a ccou n t.
fe d e r a lly -in s u r e d
th e ir
and
oth er
S ta tes,
s a v in g s a n d
p u b lic
d e a le r s
p o s it io n s
a c c o m p a n ie d
w it h
by
fu n d s ,
w ho
m ake
respect
to
paym ent o f 5
fo r.
1 9 7 8 . I f p a y m e n t is b y c h e c k
draw n
on
a bank
in t h i s D i s t r i c t , it m u s t b e r e c e i v e d
by
J a n u a r y 4 , 1 9 7 8 ; c h e c k s d r a w n o n a b a n k in a n o t h e r D i s t r i c t m u s t b e r e c e i v e d b y J a n u a r y 3 , 1 9 7 8 . A l l c h e c k s m u s t b e d r a w n t o t h e o r d e r o f
th e
F ed era l
5.
m ay
|F n c .
R eserve
Bank
o f N ew
Y ork ;
ch ecks
en dorsed
to
th is
Bank
w il l
not
be
a ccep ted .
I f t h e l a n g u a g e o f t h i s t e n d e r is c h a n g e d in a n y r e s p e c t t h a t , in t h e o p i n i o n o f t h e S e c r e t a r y o f t h e T r e a s u r y , is m a t e r i a l , t h e t e n d e r
b e d is r e g a r d e d .
C ir .
N o.
8240|
(O V E R )
SUBSCRIPTION NO
SCHEDULE FOR ISSUE OF REGISTERED TREASURY BONDS OF 1993
D ELIVERY INSTRUCTIONS
PAYMENT INSTRUCTIONS
SUBSCRIBER
n DELIVER OVER THE COUNTER
□
SIGN ATU RE _
□
s h ip
TO SUBSCRIBER
□ OTHER INSTRUCTIONS:
A D D R E S S ____
BY CHARGE TO OUR
RESERVE ACCOUNT
□ BY CASH OR CHECK IN
IMMEDIATELY AVAILABLE FUNDS
□ BY SURRENDER OF
MATURING SECURITIES
ZIP
REGISTRATION
I D O R S. S.
NO. OF
PIECES
30
ZIP
AMOUNT
SERIAL NOS.
(LEAVE BLANK)
FOR FR B
DATE
USE O N L Y
1,000
5,000
34
10,000
38
100,000
42
1,000,000
99
TOTAL
TR. CASE NO.
1,000
32
5,000
34
10,000
ZIP
38
100,000
42
1,0 0 0 ,0 0 0
99
TOTAL
30
NAME(S)
TR. CASE NO.
1,000
32
5,000
34
10,000
38
100 ,000
42
1,000,000
99
TOTAL
NO.
ADDRESS
ZIP
N AME(S)
NO.
ADDRESS
ZIP
NAME(S )
30
1,000
32
5,000
34
10,000
38
1 0 0 ,0 0 0
42
1,000,000
99
TOTAL
30
1,000
32
5,000
34
10,000
38
100,000
42
1 ,000,000
99
TOTAL
TR. CASE NO.
TR. CASE NO.
I D O R S. S. N O .
ADDRESS
ZIP
LOAN CODE
JANUARY 6, 1978
NO.
ADDRESS
I D O R S. S.
DENOM.
32
30
NAME(S)
I D O R S. S.
ISSUE AGENT 12
NO.
ADDRESS
I D O R S. S.
TRANS. ACCOU N TIN G DATE
IN TE R E ST C O M P .
INSTRUCTIONS
N AME(S)
FO R F R B USE O N L Y
TR. CASE NO.
110-01
@FedFRASER