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FEDERAL RESERVE BANK OF NEW YORK FiscalAgent oftheUnited States Circular No. 8925 September 30, 1980 TREASURY TO AUCTION $1,500 MILLION OF 15-YEAR 1-MONTH BONDS To A ll Banking Institutions, and Others Concerned, in the Second Federal Reserve District: T h e fo llo w in g s ta te m e n t w a s is s u e d y e s te r d a y b y th e T r e a su r y D e p a r tm e n t: T h e D e p a rtm e n t o f th e T re a s u ry w ill a u c tio n $ 1 ,5 0 0 m illio n o f 15-year 1 -m o n th b o n d s to ra ise new ca sh . A d d itio n a l a m o u n ts o f th e b o n d s m ay b e issu ed to F e d e ra l R eserv e B an k s as a g e n ts fo r fo re ig n a n d in te rn a tio n a l m o n e ta r y a u th o ritie s a t th e a v e ra g e p rice o f a c c e p te d c o m p e titiv e te n d e rs. P r in t e d o n t h e r e v e r s e s id e is a t a b l e s u m m a r iz in g t h e h ig h lig h t s o f t h e o f f e r i n g . C o p i e s o f t h e o f f i c i a l o f f e r i n g c ir c u la r w ill b e f u r n is h e d u p o n r e q u e s t d ir e c t e d t o o u r G o v e r n m e n t B o n d D i v i s i o n ( T e l. N o . 2 1 2 - 7 9 1 - 6 6 1 9 ) . In a d d i t i o n , e n c l o s e d is a c o p y o f t h e f o r m t o b e u s e d in s u b m it t in g t e n d e r s . T h is B a n k w ill r e c e iv e t e n d e r s u p t o 1 :3 0 p . m . , E a s t e r n D a y l i g h t S a v in g t i m e , T u e s d a y , O c t o b e r 7 , 1 9 8 0 , a t t h e S e c u r it ie s D e p a r t m e n t o f its F le a d O f f i c e a n d a t its B u f f a l o B r a n c h . A ll competitive tenders, w h e t h e r t r a n s m it t e d b y m a il o r b y o t h e r m e a n s , m u s t r e a c h t h is B a n k o r its B r a n c h b y t h a t t im e . H o w e v e r , f o r i n v e s t o r s w h o w is h t o s u b m it n o n c o m p e t i t i v e t e n d e r s a n d w h o f in d it m o r e c o n v e n i e n t t o m a il th e ir t e n d e r s t h a n t o p r e s e n t t h e m in p e r s o n , t h e o f f i c i a l o f f e r i n g c ir c u la r p r o v id e s t h a t noncompetitive w ill b e c o n s i d e r e d t im e ly r e c e iv e d i f t h e y a r e m a ile d t o t h is B a n k o r its B r a n c h u n d e r a p o s t m a r k te n d e r s no later than October 6. B id d e r s s u b m i t t i n g n o n c o m p e t i t i v e t e n d e r s s h o u l d r e a liz e t h a t it is p o s s i b l e t h a t t h e a v e r a g e p n v b e a b o v e p a r , in w h ic h c a s e t h e y w o u l d h a v e t o p a y m o r e t h a n t h e f a c e v a lu e f o r t h e s e c u r i t y P a y m e n t w it h a t e n d e r m a y b e in t h e f o r m o f a p e r s o n a l c h e c k , w h ic h n e e d n o t b e c^ b a n k c h e c k , o r a F e d e r a l f u n d s c h e c k (a c h e c k d r a w n b y a d e p o s i t o r y i n s t i t u t i o n o n it . no checks endorsed to a c c o u n t ) . P le a s e n o te th a t c h e c k s o r d r a fts d r a w n o n m o n e y m a r k e t o r m u tu a l fu n d s are c h e c k s m u s t b e d r a w n p a y a b le t o t h e F e d e r a l R e s e r v e B a n k o f N e w Y o r k ; not be accepted. * P a y m e n t m a y a l s o b e m a d e in c a s h o r in T r e a s u r y s e c u r it ie s m a t u r in g o n o r be» d a t e o f t h e s e c u r it ie s b e in g p u r c h a s e d . R e c o r d e d m e s s a g e s p r o v id e i n f o r m a t i o n a b o u t T r e a s u r y o f f e r i n g s a n d a b o u t a u c t i o n r e su lt. H e a d O f f i c e — T e l. N o . 2 1 2 - 7 9 1 - 7 7 7 3 ( o f f e r i n g s ) a n d T e l . N o . 2 1 2 - 7 9 1 - 5 8 2 3 ( r e s u lt s ) ; a t t h e L B r a n c h — T e l . N o . 7 1 6 - 8 4 9 - 5 0 4 6 . A d d i t i o n a l in q u ir ie s r e g a r d in g t h is o f f e r i n g m a y b e m a d e b y c a llii t h e H e a d O f f i c e , T e l. N o . 2 1 2 - 7 9 1 - 6 6 1 9 , o r , a t t h e B u f f a l o B r a n c h , T e l. N o . 7 1 6 - 8 4 9 - 5 0 1 6 . A nthony M. Solomon , President. (O v er) HIGHLIGHTS OF TREASURY OFFERING TO THE PUBLIC OF 15-YEAR 1-MONTH BONDS TO BE ISSUED OCTOBER 14, 1980 (Delivery date for coupon securities is October 24, 1980) Amount Offered: T o th e p u b l i c ......................................................................................................................... $ 1 ,5 0 0 m illio n Description of Security: T e rm a n d ty p e o f s e c u r ity ................................................................................................. 15-year 1-m o n th b o n d s S eries a n d C U S IP d e s i g n a t i o n ....................................................................................... B o n d s o f 1995 (C U S IP N o . 912810 C R 7 ) M a tu rity d a t e ......................................................................................................................... N o v e m b e r 15, 1995 C all d a t e .................................................................................................................................. N o p ro v isio n In te re st c o u p o n r a t e .......................................................................................................... T o be d e te rm in e d , b a se d o n th e a v e rag e o f ac c e p te d bids In v e stm e n t y ie ld .................................................................................................................... T o be d e te rm in e d a t a u c tio n P re m iu m o r d is c o u n t.......................................................................................................... T o be d e te rm in e d a f te r a u c tio n In te re st p a y m e n t d a t e s ...................................................................................................... M ay 15 a n d N o v e m b e r 15 (first p a y m e n t o n M ay 15, 1981) M in im u m d e n o m in a tio n a v a ila b le ................................................................................ $ 1 ,000 Terms of Sale: M e th o d o f s a l e ...................................................................................................................... Y ield a u c tio n A c c ru e d in te re st p a y a b le by in v e s to r ........................................................................... N one P re fe rre d a l l o t m e n t ............................................................................................................. N o n c o m p e titiv e b id fo r $ 1 ,0 0 0 ,0 0 0 o r less ’a y m e n t by n o n -in s titu tio n a l i n v e s t o r s .................................................................... p o sit g u a r a n te e by d e s ig n a te d in s t it u t i o n s .......................................................... / Dates: D e a d lin e fo r receip t o f t e n d e r s ....................................................................................... Full payment to be submitted with tender A c c e p ta b le T u e sd a y , O c to b e r 7, 1980, by 1:30 p .m ., E D S T S e ttle m e n t d a te (fin a l p a y m e n t d u e fro m in s titu tio n s ) a) c a sh o r F e d e ra l f u n d s .............................................................................................. T u e sd a y , O c to b e r 14, 1980 b) re a d ily c o llec tib le c h e c k ......................................................................................... T h u rs d a y , O c to b e r 9, 1980 D elivery d a te fo r c o u p o n s e c u r itie s ............................................................................. ( Friday, October 24, 1980
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