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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular N o. 8978 December 16, 1980 TREASURY TO AUCTION $2,500 MILLION OF 7-YEAR NOTES 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 $2,500 million of 7-year notes to raise new cash. Additional amounts of the notes may be issued to Federal Reserve Banks as agents for foreign and international monetary authorities at the average price of accepted competitive tenders. The Treasury also indicated that it expects to announce later this month in the normal course the terms of a January bond issue. 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, Tuesday, December 30, 1980, at the Securities Department of its Head Office and at its Buffalo Branch. A ll com p etitive tenders, 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 find it more convenient to mail their tenders than to present them in person, the official offering circular provides that n on com petitive tenders will be considered timely received if they are mailed to this Bank or its Branch under a postmark n o later than D ecem b er 29. 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 depository institution on its Federal Reserve account). All checks must be drawn payable to the Federal Reserve Bank of New York; ch eck s en d orsed to this B ank will n ot b e 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 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. A nthony m . So l o m o n , President. (Over) H IG H L IG H T S O F T R E A S U R Y O F F E R IN G T O T H E P U B L IC OF 7-Y E A R N O T E S T O BE IS S U E D J A N U A R Y 5 , 1981 (D e liv e r y da te f o r c o u p o n secu rities is Jan u ary 21, 1981) A m o u n t O ffe r e d : To the public........................................................................................................... $2,500 million D e sc r ip tio n o f S ecu rity : Term and type of security...................................................................................... 7-year notes Series and CUSIP designation............................................................................. Series C-1988 (CUSIP No. 912827 LL4) Maturity date........................................................................................................... January 15,1988 Call date.................................................................................................................... No provision Interest coupon r a te .............................................................................................. To be determined, based on the average of accepted bids Investment yield....................................................................................................... To be determined at auction Premium or discount.............................................................................................. To be determined after auction Interest payment dates.......................................................................................... July 15 and January 15 (first payment on July 15, 1981) Minimum denomination available....................................................................... $1,000 T erm s o f S ale: Method of sale......................................................................................................... Yield auction Accrued interest payable by investor.................................................................. None Preferred allotment................................................................................................. Noncompetitive bid for $1,000,000 or less Payment by non-institutional investors............................................................ F u ll p a y m e n t to be su b m itte d w ith ten d er Deposit guarantee by designated institutions................................................... Acceptable K ey D a te s: Deadline for receipt of tenders............................................................................. Settlement date (final payment due from institutions) a) cash or Federal funds.................................................................................... b) readily collectible check............................................................................... Delivery date for coupon securities..................................................................... Tuesday, December 30, 1980, by 1:30 p.m., EST Monday, January 5, 1981 Friday, January 2, 1981 W e d n e sd a y , J a n u a r y 2 1 ,1 9 8 1 FORM NY-1 I M P O R T A N T — C lo sin g tim e f o r receipt o f this ten d er is 1 :3 0 p .m ., T u e sd a y D e c e m b e r 30 , 1980 TENDER FOR 7-YEAR TREASURY NOTES OF SERIES C-1988 To F ederal R eserve B a n k of Dated at N ew Y ork PR IV A C Y A C T S T A T E M E N T — 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. Fiscal Agent of the United States New York, N .Y . 10045 , 19. The undersigned hereby offers to purchase the above-described securities in the amount indicated below, and agrees to make payment therefor at your Bank in accordance with the provisions of the official offering circular. Do not fill in both Competitive and Noncompetitive tenders on one form C O M P E T IT IV E T E N D E R (maturity value) $■ or anv lesser amount that may be awarded. N O N C O M P E T IT IV E T E N D E R (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, 10.06) Subject to allotment, please issue, deliver, and accept payment for the securities as indicated below and on the reverse side (if registered secu rities are desired, please also com plete schedule on r ev e r se s i d e ) : Denominations Pieces $ 1,000 $ 5,000 $ 10,000 Maturity value □ D e live r over the counter to the undersigned CD Ship to the undersigned (2) H o ld in safekeeping ( fo r m em ber bank o n ly ) in— □ In vestm ent A c c o u n t (4) □ G eneral A cco u n t (5) □ T r u s t A c c o u n t ( fi) H o ld as collateral fo r T re a su ry T a x and L o a n A c c o u n t* (? ) □ □ □ $ 100,000 P aym en t w ill be m ade as f o llo w s : □ B y charge to our reserve account (D ) □ B y cash or check in immediately available funds ( f ) □ B y surrender o f m aturing securities <E) □ B y charge to m y correspondent bank ................. ...............................................CD) (Name of bank) □ Special instructions <3) $1,000,000 □ W i f e t o .................................................................................................................................. Totals (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.) W e H ereby C ertify 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 urther C ertify 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 payments required by the official offering circular. W e F urther C ertify 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) Address Insert this tender in special envelope marked “ Tender for Treasury Notes or Bonds’ ’ State City Phone (Include Area Code) Zip Code 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) IN S T R U C T IO N S : 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 and may consolidate noncompetitive tenders, provided a list is attached showing the name of each bidder and the amount bid for the bidder’s account. Others will not be permitted to submit tenders except for their own accounts. 3. Tenders will be received without deposit from commercial and other banks for their own account, Federally-insured savings 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 full payment of the face amount of the securities applied for. 4. 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 Y o r k ; Payment may also be made in cash or Treasury securities maturing on or before the issue date of the securities being purchased. 5. For information on currently available Treasury call our 24-hour recorded message at (212) 791-7773 at the Head Office or (716) 849-5046 at the Buffalo Branch. For of recent Treasury auctions, call (212) 791-5823 at the Head Office or (716) 849-5046 at the Buffalo Branch. For other information about Treasury securities, call (212 ) 791-6619 at the Head Office or (716) 849-5016 at the Buffalo Branch during normal business hours. 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. at the same yield checks endorsed to this Bank will not be accepted. offerings, results ( over) SCHEDULE FOR ISSUE OF REGISTERED TREASURY SECURITIES SUBSCRIPTION NO DELIVERY INSTRUCTIONS PAYMENT INSTRUCTIONS SUBSCRIBER'S NAME □ DELIVER OVER THE COUNTER ADDRESS __________ □ SHIP TO SUBSCRIBER □ BY CHARGE TO OUR RESERVE ACCOUNT □ OTHER INSTRUCTIONS: CITY ______________ .STATE .ZIP □ BY CASH OR CHECK IN IMMEDIATELY AVAILABLE FUNDS □ BY SURRENDER OF MATURING SECURITIES SIGNATURE □ NO. OF PIECES REGISTRATION INSTRUCTIONS NAME(S) ID OR S.S. NO. CITY NAME(S) STATE ADDRESS STATE 5,000 34 10,000 38 100,000 ADDRESS STATE ZIP AMOUNT SERIAL NOS. (LEAVE BLANK) TRANS. ACCOUNTING DATE IS S U E A G E N T 1 2 BY CHARGE TO MY CORRESPONDENT BANK FOR FRB USE ONLY 1,000,000 TOTAL 30 1,000 32 34 9,000 10,000 38 42 99 100,000 1,000,000 TOTAL TR. CASE NO. 1,000 5,000 10,000 100,000 34 33 42 1,000,000 99 TOTAL LOAN CODE 11001 TR. CASE NO. 30 32 ID Oft S.S. NO. 32 ZIP NAME(S) CITY 1,000 ZIP ID OR S.S. NO. CITY 30 42 99 ADDRESS DENOM. FOR FRB USE O N LY TR. CASE NO.
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