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FEDERAL RESERVE BANK OF NEW YORK Fiscal A gent o f the U n ited States C ircular No. 8855 June 16, 1980 TREASURY TO AUCTION 2-YEAR AND 4-YEAR NOTES TOTALING $7,500 MILLION T o A l l B a n k in g I n s titu tio n s , a n d O th e r s C o n c e rn e d , in th e S e c o n d F e d e r a l R e s e r v e D is tr ic t: The following statement was issued by the Treasury Department: T h e D ep a rtm e n t o f the T reasu ry will au ctio n $4,250 m illion o f 2-year notes an d $3,250 m illion o f 4-year notes to re fu n d $5,404 m illion o f notes m atu rin g Ju n e 30, 1980, an d to raise $2,096 m illion new cash. T he $5,404 m illion o f m atu rin g notes are tho se held by the public, including $1,304 m illion o f m atu rin g 2-year notes an d $518 m illion o f m atu rin g 4-year notes cu rrently held by F ederal Reserve B anks as agents fo r foreign an d in te rn a tio n a l m o n etary au th o rities. In a d d itio n to the public holdings, G o v ernm ent accounts an d F ederal Reserve B anks, fo r th eir ow n acco u n ts, h old $1,188 m illion o f th e m atu rin g notes th a t m ay be refu n d ed by issuing ad d itio n al a m o u n ts o f the new notes a t the average prices o f accepted com petitive tenders. A d d itio n al am o u n ts o f the new securities m ay also be issued a t th e average prices to F ederal Reserve B anks, as agents fo r foreign an d in tern atio n al m o n etary a u th o rities, to th e extent th a t th eir aggregate tenders fo r each o f the new notes exceed their aggregate holdings o f the m atu rin g notes. Printed on the reverse side is a table summarizing the highlights of the offerings. Copies of the official offering circulars will be furnished upon request directed to our Government Bond Division (Tel. No. 212-791-6619). In addition, enclosed are copies of the forms to be used in submitting tenders. This Bank will receive tenders at the Securities Department of 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 of tenders. All competitive tenders, whether transmitted by mail or by other means, must reach this Bank or its Branch by that time on the specified dates. However, for investors who wish 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 noncompetitive 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 with a tender may be in the form of a personal check, which need not be certified, an official bank check, or a Federal funds check (a check drawn by a commercial bank on its Federal Reserve account). All checks must be drawn payable to the Federal Reserve Bank of New York; checks endorsed to this Bank will not be accepted. Payment may also be made in cash or in Treasury securities maturing on or before the issue date of the securities being purchased. Recorded messages provide information about Treasury offerings and about auction results: at the Head Office — Tel. No. 212-791-7773 (offerings) and Tel. No. 212-791-5823 (results); at the Buffalo Branch — Tel. No. 716-849-5046. Additional inquiries regarding these 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. A n t h o n y m . So l o m o n , President. (Over) HIGHLIGHTS OF TREASURY OFFERINGS TO THE PUBLIC OF 2-YEAR AND 4-YEAR NOTES TO BE ISSUED JUNE 30, 1980 2-Year Notes 4-Year Notes $4,250 million $3,250 million Term and type of security............. 2-year notes 4-year notes Series and CUSIP designation....... Series T-1982 (CUSIP No. 912827 KU5) Series E-1984 (CUSIP No. 912827 KV3) Maturity date............................. June 30,1982 June 30,1984 Call date.................................... No provision No provision Interest coupon rate................... To be determined, based on the average of accepted bids To be determined, based on the average of accepted bids Investment yield........................ 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 dates................ December 31 and June 30 December 31 and June 30 Minimum denomination available . $5,000 $ 1,000 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 Full payment to be submitted with tender Full payment to be submitted with tender Amount Offered: To the public............................. Description of Security: Terms of Sale: Payment by noninstitutional investors.............. Deposit guarantee by designated institutions..................................... Acceptable Acceptable Key Dates: Deadline for receipt of tenders................ Thursday, June 19,1980, by 1:30 p.m., EDST Settlement date (final payment due from institutions) a) cash or Federal funds..................... Monday, June 30, 1980 b) readily collectable check................ Thursday, June 26, 1980 Delivery date for coupon securities M onday, July 7,1980 Tuesday, June 24,1980, by 1:30 p.m., EDST Monday, June 30, 1980 Thursday, June 26, 1980 Friday, July 11,1980
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