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FEDER AL RESERVE BANK OF N E W YORK Fiscal Agent of the United States Circular No. 8587 I C_ June 14, 1979 _ | TREASURY TO AUCTION 2-YEAR A N D 4-YEAR NOTES TOTALING $5,500 MILLION To Alt Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following statem ent was issued yesterday by the Treasury Departm ent: The Department of the Treasury will auction $2,750 million of 2-year notes and $2,750 million of 4-year notes to refund $3,636 million of notes maturing June 30, 1979, and to raise $1,864 million new cash. The $3,636 million of maturing notes are those held by the public, including $823 million currently held by Federal Reserve Banks as agents for foreign and international monetary authorities. In addition to the public holdings, Government accounts and Federal Reserve Banks, for their own accounts, hold $454 million of the maturing securities that may be refunded by issuing additional amounts of the new notes at the average prices of accepted competitive tenders. Additional amounts of the new securities may also be issued at the average prices to Federal Reserve Banks, as agents for foreign and international monetary authorities, to the extent that the aggregate amount of tenders for such accounts exceeds the aggregate amount of maturing securities held by them. Printed on the reverse side is a table summarizing the highlights o f the offerings. Copies of the official offering circulars will be furnished upon request directed to our Treasury and Agency Issues Division (Tel. No. 212-791-6619). In addition, enclosed are copies o f the forms to be used in submitting tenders. This Bank will receive tenders at the Securities D epartm ent o f its Head Office and at its Buffalo Branch up to 1:30 p.m ., Eastern Daylight Saving time, on the dates specified on the reverse side of this circular as the deadlines for receipt o f tenders. A l l c o m p e titiv e te n d e rs, whether transm itted by mail or by other means, must reach this Bank or its Branch by that time on the specified dates. However, for investors who w'ish to submit noncompetitive tenders and who find it more convenient to mail their tenders than to present them in person, the official offering circular for each offering provides that n o n c o m p e titiv e tenders will be con sidered timely received if they are mailed to this Bank or its Branch under a postmark no later than the date preceding the date specified for receipt of tenders. 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 o f New York; c h e c k s e n d o r s e d to th is B a n k w ill n o t b e a c c e p te d . A personal check submitted with the tender, either as a deposit or for the face am ount 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 am ount o f securities allotted, shall, at the discretion of the Secretary o f the Treasury, be forfeited to the United S tates.” A recorded message (at the Head Office — Tel. No. 212-791-5823; at the Buffalo Branch — Tel. No. 716-849-5046) provides inform ation 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. PAUL A. VOLCKER, P re sid e n t. (Over) HIGHLIGHTS OF TREASURY OFFERINGS TO THE PUBLIC OF 2-YEAR AND 4-YEAR NOTES TO BE ISSUED JULY 2, 1979 (D e liv e ry d a te f o r c o u p o n secu rities is J u ly 6, 1979) 2-Year Notes 4-Year Notes Amount Offered: To the public.......................................... .. $2,750 million $2,750 million Description of Security: Term and type of security....................... .. 2-year notes 4-year notes Series and CUSIP designation............... .. Series U-1981 (CUSIP No. 912827 JS2) Series E-1983 (CUSIP No. 912827 JT0) Maturity date.......................................... .. June 30, 1981 June 30, 1983 Call date.................................................. .. No provision No provision Interest coupon r a te ............................... .. To be determined, based on the average of accepted bids To be determined, based on the average of accepted bids Investment y ie ld ..................................... .. To be determined at auction To be determined at auction Premium or discount............................. .. To be determined after auction To be determined after auction Interest payment d ates........................... .. December 31 and June 30 December 31 and June 30 Minimum denomination available........ .. $5,000 $1,000 Terms of Sale: Method of sale........................................ .. Yield auction Yield auction Accrued interest payable by investor.. . . .. None None Preferred allotment................................. .. Noncompetitive bid for $ 1,000,000 or less Noncompetitive bid for $1,000,000 or less Deposit requirement............................... .. 5% of face amount 5% of face amount Deposit guarantee by designated institutions......................................... .. Acceptable Acceptable Key Dates: Deadline for receipt of tenders................ .. Tuesday, June 19,1979, by 1:30 p.m ., EDST Settlement date (final payment due) a) cash or Federal funds..................... .. Monday, July 2, 1979 Thursday, June 21, 1979, by 1:30 p.m ., EDST Monday, July 2, 1979 b) check drawn on bank within FRB district where submitted... .. Thursday, June 28, 1979 Thursday, June 28, 1979 c) check drawn on bank outside FRB district where submitted... .. Tuesday, June 26, 1979 Tuesday, June 26, 1979 Delivery date for coupon securities Friday, July 6, 1979 Friday, July 6, 1979 IMPORTANT— This is a standard form . Its term s are subject to change at any tim e by the Treasury. T his tender will b e construed as a bid to purchase the 2-year notes fo r which the Treasury has out standing an invitation fo r tenders on the date received by the Federal R eserve Bank o f New York or its Buffalo Branch. TENDER FOR 2-YEAR TREASURY NOTES To F e d e r a l R e s e r v e B a n k o f N e w Fiscal Agent of the United States New York, N.Y. 10045 I §■§. i:I ;!■* Y £ , 19. Pursuant to the provisions of the public notice issued by the Treasury Department inviting tenders for the current offering of 2-year Treasury notes, the undersigned hereby offers to purchase such currently offered Treasury notes 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. :o « 111 Dated at ork Do not fill in both Competitive and Noncompetitive tenders on one form COMPETITIVE TENDER NONCOMPETITIVE TENDER C '•§ g i 6 -c .J3 W Bg i s III !« KN $....................................................... (maturity value) or any lesser amount that may be awarded. $....................................................... (maturity value) (Not to exceed $1,000,000 for one bidder through all sources) at the average price of accepted competitive bids. Yield: ..... ....... (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): ill Pieces Denominations $ 5,000 $ 10,000 Maturity value $ 100,000 □ Deliver over the counter to the undersigned O) □ Ship to the undersigned (2) □ Hold in safekeeping (for member bank only) in— □ Investment Account (4) □ General Account (W □ Trust Account (6) □ Hold as collateral for Treasury Tax and Loan Account* (?) Payment will be made as follows : □ By charge to our reserve account (D) □ By cash or check in immediately available funds (F) □ By surrender of maturing securities (*> □ By charge to my correspondent bank _____ ________________ (D) (Name of bank) D Special instructions <3) $1,000,000 □ Wire to Totals ...................................................................................(») (Exact Receiving Bank W ire Address/Account) * 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.) 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 or purchase of any securities of this issue prior to the closing time for receipt of this tender. 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 Rave received and are holding for the Treasury, or that we guarantee payment to the Treasury, of the deposits stipulated in the official offering cir cular. 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 or primary dealers for their own account, and for the account of their customers, have been entered with us under the same con ditions, agreements, and certifications set forth in this form. Name of Subscriber (Please Print or Type) : to J.S •o Address Insert this tender in special envelope marked “Tender for Treasury Notes or Bonds” City Phone (Include Area Code) State Zip 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) INSTRUCTIONS: 1. No tender for less than $5,000 will be considered; and each tender must be for a multiple of $5,000 (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 accoimt; 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. Y> a 3. Tenders will be received without deposit from commercial and other banks for their own account, Federally-insured v savings and loan associations, States, political subdivisions or instrumentalities thereof, public pension and retirement and other c public funds, international organizations in which the United States holds membership, foreign central banks and foreign States, 3 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 at least 5 percent of the face amount of the securities applied for. 4. A personal check, cash, or Treasury securities maturing on or before the issue date of the new securities may be submit ted with the tender. Personal checks submitted with the tender, either as a deposit or for the face amount of the securities, do 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 and received at this Bank on the payment date (which is generally three business days before the issue date) shown on the “Notice of Balance Due” that will be mailed to you. All checks must be payable on its face to the Federal Reserve Bank of New York; checks endorsed to this Bank will not be accepted; Settlement on the issue date must be in cash or in other immediately available funds. 5. A recorded message (at the Head Office—Tel. No. 212-791-5823; at the Buffalo Branch—Tel. No. 716-849-5046) pro vides information about Treasury offerings; additional inquiries regarding Treasury offerings 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.) 6. 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. ( o ver) SCHEDULE FOR ISSUE OF REGISTERED 2-YEAR TREASURY NOTES SUBSCRIPTION NO. SUBSCRIBER’S NAME ADDRESS ______________ CITY __________________ _STATE DELIVERY INSTRUCTIONS PAYMENT INSTRUCTIONS □ DELIVER OVER THE COUNTER □ BY CHARGE TO OUR RESERVE ACCOUNT □ SHIP TO SUBSCRIBER □ □ OTHER INSTRUCTIONS: BY CASH OR CHECK IN IM M E D IA T E L Y A V A IL A B L E □ BY SURRENDER OF MATURING SECURITIES □ BY CHARGE TO MY CORRESPONDENT BANK _ZIP SIGNATURE NO. OF PIECES REGISTRATION INSTRUCTIONS NAME(S) 32 3,000 34 10,000 38 100,000 42 1,000,000 99 TOTAL — ID OR S.S. NO. ADDRESS CITY STATE ID OR S.S. NO. ADDRESS STATE 32 5,000 34 10,000 38 100,000 42 1,000,000 99 TOTAL 32 5,000 34 10,000 38 100,000 ID OR S.S. NO. 42 1,000,000 ADDRESS 99 TOTAL CITY STATE ZIP SERIAL NOS. (LEAVE BLANK) FU N D S IS S U E A G E N T 12 IN T E R E S T COMP. D A TE FOR FRB USE ONLY TR. CASE NO. ZIP NAME(S) AMOUNT TRANS. ACCOUNTING DATE TR. CASE NO. ZIP NAME(S) CITY DENOM. FOR FRB USE ONLY TR. CASE NO. LOAN CODE 110-01 Form NA IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Thursday, June 21, 1979 T E N D E R FO R TR EA SU R Y N O TES O F SERIES E-1983 PRIVACY ACT STATEMENT — 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 July 2,1979 Due June 30,1983 Dated at FEDERAL RESERVE BANK OF NEW YORK. Fiscal Agent of the United States. New York. N.Y. 10045 The undersigned hereby offers to purchase the above-described securities 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 COMPETITIVE TENDER $ ........................................................ (maturity value) or any lesser amount that may be awarded. Y ield:........ NONCOMPETITIVE TENDER $ ........................................................ (maturity value) (Not to exceed $1.000.000for 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): Pieces Denomination $ □ Deliver over the counter to the undersigned (1) □ Ship to the undersigned (2) Q Hold in safekeeping (for member bank only) in — □ Investment Account (4) □ General Account (5) □ Trust Account (6) □ Hold as collateral for Treasury Tax and Loan Account* (7) Maturity value 1,000 5,000 10.000 100.000 Payment will be made as follows: By charge to our reserve account (D) Bv cash or check in immediately available funds (F) By surrender of maturing securities (E) By charge to my correspondent bank................................................ (D) (Name of bank) □ Special instructions (3) 1.000.000 □ Wire to Totals .( 8) (Exact Receiving Bank Wire Address/Account) * 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.) WE HEREBY CERTIFY that we have not made and will not make any agreements for the sale or purchase of any securities of this issue prior to the closing time for receipt of this tender. 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. nam e o f s u b s c r ib e r ( p l e a s e p r i n t or t y p e ) ADDRESS Insert this tender in special envelope marked “Tender for Treasury Notes or Bonds” CITY PHONE (INCLUDE AREA CODE) STATE ZIP SIGNATURE OF SUBSCRIBER OF AUTHORIZED SIGNATURE T IT L E 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) INSTRUCTIONS: 1. No 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 sayings 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 July 2, 1979. If payment is by check drawn on a bank in this District, it must be received by June 28, 1979; checks drawn on a bank in another District must be received by June 26, 1979. All checks must be drawn to the order of the Federal Reserve Bank of New York; 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. 8587] (OVER) SCHEDULE FOR ISSUE OF REGISTERED TREASURY SECURITIES SUBSCRIPTION NO D E L I V E R Y IN S T R U C T IO N S P A Y M E N T IN S T R U C T IO N S S U B S C R I B E R ’ S N A M E ___________________________________________________________________________ □ D ELIV ER OVER THE COUNTER □ ADDRESS □ s h ip □ OTHER INSTRUCTIONS: _______________________________________________________________________________________________ TO SUBSCRIBER □ FO R F R B USE O N LY BY CHARGE TO OUR RESERVE ACCOUNT BY CASH OR CHECK IN TRANS. A C C OU NTING DATE IMMEDIATELY AVAILABLE FUNDS C IT Y ________________________________________________________S T A T E __________________________ Z I P □ S I G N A T U R E __________________________________________________________________________ R E G IS T R A T IO N NO. OF PIECES in s t r u c t io n s N A M E(S) I D O R S . S . NO . ADDRESS C IT Y STATE DENOM. 30 1 ,0 0 0 32 5,00 0 34 1 0, 0 0 0 38 1 0 0 ,0 00 42 1,000,000 99 TOTAL Z IP N A M E(S) □ AMOUNT S E R I A L NOS. (L EAV E BLANK) BY SURRENDER OF MATURING SECURITIES BY CHARGE TO MY CORRESPONDENT BANK FOR FR B IS S U E A G E N T 110-01 USE O N LY T R . CASE NO. 30 1 ,0 0 0 32 5,000 34 1 0, 0 0 0 38 1 0 0 ,0 0 0 42 1,000,000 99 TOTAL . ID O R S .S . NO. ADDRESS C IT Y STATE Z IP N AM EtS) ID O R S .S . NO. ADDRESS C IT Y STATE Z IP T R . CASE NO. 30 1,000 32 5 ,0 0 0 34 1 0, 0 0 0 38 1 0 0 ,0 0 0 42 1 ,000,000 99 TOTAL 12 LOAN CODE T R . CASE NO.
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