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FEDERAL RESERVE BANK OF N E W YORK Fiscal Agent of the United States Circular No. 8481 December 28, 1978 TREASURY TO AUCTION $1,500 MILLION OF 15-YEAR 1 MONTH BONDS 7 o / l / / R aw Am g O lA e r s C o n c e r n e d , /?e^crve DufftcL* 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 competitive 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. 212-791-6619). In addition, enclosed is a copy of the form to be used in submitting tenders. This Bank will receive tenders up to 1:30 p.m., Eastern Standard time, Thursday, January 4, 1979, at the Securities Department of its Head Office and at its Buffalo Branch. y4// cowtjoefifive fewJers, whether transmitted by mail or by other means, must reach this Bank or its Branch by that time. However, for investors who wish to submit noncompetitive tenders and who End it more convenient to mail their tenders than to present them in person, the official offering circular provides that wowcowipefif/ve tenders will be considered timely received if they are mailed to this Bank or its Branch under a postmark wo /afar ?/mw Jaw w ayy 3. 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. Payment may be made by personal check, or an official bank check, payable on its face to the Federal Reserve Bank of New York; cAecArs ewt/orseJ to fA/s PawA^ wot accepted. A personal check sub mitted with the tender, either as a deposit or for the face amount of the securities, does not have to be certified. However, in cases where only a deposit is submitted with the tender, a personal check submitted for the final payment must be certified. As provided in the official offering circular, "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." 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, P r a s /J e w f. (Over) HIG H LIG H TS OF T R E A SU R Y OFFERING TO THE PUBLIC OF 15-Y E A R 1-M O N TH BONDS T O BE ISSUED JAN U ARY 1 1 ,1 9 7 9 (De/fveyy 6fafeybr coupon .secMnffas MVanMayy 76, 1979) Amount Offered: $1,500 million Description of Security: 15-year 1-month bonds Bonds of 1994 (CUSIP No. 912810 CF3) February 15, 1994 No provision To be determined, based on the average of accepted bids To be determined at auction To be determined after auction August 15 and February 15 (first payment on August 15, 1979) To the pubhc..................................... Term and type of security............. Series and CUSIP designation .. . Maturity d a te ................................... Call date ............................................ Interest coupon rate........................ Investment y ield .............................. Premium or discount...................... Interest payment dates.................... Minimum denomination available Terms of Sale: Method of sale .................................................... Accrued interest payable by investor............. Preferred allotm ent........................................... Deposit requirement........................................... Deposit guarantee by designated institutions Key Dates: $ 1,000 Yield auction None Noncompetitive bid for $1,000,000 or less 5% of face amount Acceptable Deadline for receipt of tenders................................................................................... Thursday, January 4, 1979, by 1:30 p.m., EST Settlement date (final payment due) a) Cash or Federal funds.............................................................................................. Thursday, January 11, 1979 b) Check drawn on bank within FRB district where submitted........................ Tuesday, January 9, 1979 c) Check drawn on bank outside FRB district where subm itted...................... Monday, January 8, 1979 Delivery date for coupon securities............................................................................. Tuesday, January 16,1979