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FEDERAL RESERVE BANK OF NEW YORK F is c a l A g e n t o f th e U n ite d S tates D Circular No. 9034 M arch 12, 1981 ■] TREASURY TO AUCTION 2-YEAR AND 4-YEAR NOTES TOTALING $8,250 MILLION To AII Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following statement was issued yesterday by the Treasury Department: T h e D e p a rtm e n t o f th e T re a s u ry w i ll a u c tio n $ 4 ,7 5 0 m illio n o f 2 -y e a r n o te s a n d $ 3 ,5 0 0 m illio n o f 4 -y e a r n o te s t o r e fu n d $ 5 ,3 6 6 m illio n o f n o te s m a tu r in g M a r c h 31, 1981, a n d to ra ise $ 2 ,8 8 4 m illio n n e w cash . T h e $ 5 ,3 6 6 m illio n o f m a tu r in g n o te s a re th o s e h e ld b y th e p u b lic , in c lu d in g $867 m illio n o f m a t u r in g 2 -y e a r n o te s a n d $7 60 m illio n o f m a tu r in g 4 -y e a r n o te s c u r r e n tly h e ld b y F e d e ra l R e serve B a n k s as a g e n ts f o r fo r e ig n a n d in te r n a tio n a l m o n e ta ry a u th o ritie s . I n a d d itio n to th e p u b lic h o ld in g s , G o v e rn m e n t a c c o u n ts a n d F e d e ra l R eserve B a n k s , f o r th e ir o w n a c c o u n ts , h o ld $9 59 m illio n o f th e m a tu r in g n o te s th a t m a y be re fu n d e d b y is s u in g a d d itio n a l a m o u n ts o f th e n e w n o te s a t th e ave ra g e p rice s o f a cce p te d c o m p e titiv e te n d e rs . A d d it io n a l a m o u n ts o f th e n e w s e c u ritie s m a y a ls o be issu ed a t th e a ve ra g e p ric e s to F e d e ra l R eserve B a n k s , as a g en ts f o r fo r e ig n a n d in te r n a tio n a l m o n e ta ry a u th o r itie s , t o th e e x te n t th a t th e ir a g g re g a te te n d e rs f o r each o f th e n e w n o te s exceed th e ir a g g re g a te h o ld in g s o f each o f th e m a tu r in g n o te s. Printed on the reverse side is a table summarizing the highlights o f the offerings. Copies o f 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 o f the forms to be used in submitting tenders. This Bank will receive tenders at the Securities Department o f its Head O ffice and at its Buffalo Branch up to 1:30 p.m ., Eastern Standard time, on the dates specified on the reverse side o f this circular as the deadlines for receipt o f 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 o f 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 o f 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 o f 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 o f the securities being purchased. Recorded messages provide information about Treasury offerings and about auction results: at the Head O ffice — 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 O ffice, Tel. No. 212-791-6619, or, at the Buffalo Branch, Tel. No. 716-849-5016. A n th o n y m . So lo m o n , President. (Over) HIGHLIGHTS OF TREASURY OFFERINGS TO THE PUBLIC OF 2-YEAR AND 4-YEAR NOTES TO BE ISSUED MARCH 31, 1981 2 -Y e a r N o te s 4 -Y e a r N o te s $4,750 million $3,500 million Term and type of security................ 2-year notes 4-year notes Series and CUSIP designation........ Series P-1983 (CUSIP No. 912827 LR1) Series G-1985 (CUSIP No. 912827 LS9) Maturity date.................................... March 31, 1983 March 31, 1985 Call date............................................ No provision No provision Interest coupon r a t e ........................ To be determined, based on the average of accepted bids To be determined, based on the average of accepted bids Investment y ield .............................. 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 a te s...................... September 30 and March 31 September 30 and March 31 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 A m o u n t O ffe r e d : To the public.................................... D e s c r ip tio n o f S ecu rity : T e rm s o f S ale: Payment by noninstitutional investors.................. Deposit guarantee by designated institutions.............................................. Acceptable Acceptable K ey D a tes: Deadline for receipt of tenders.................... W e d n e s d a y , M a rc h 1 8 ,1 9 8 1 , b y 1 :3 0 p .m ., E S T Settlement date (final payment due from institutions) a) cash or Federal funds.......................... Tuesday, March 31, 1981 b) readily collectible check...................... Friday, March 27, 1981 Delivery date for coupon securities Wednesday, April 8, 1981 T u e s d a y , M a rc h 2 4 , 1981, b y 1 :3 0 p .m ., E S T Tuesday, March 31, 1981 Friday, March 27, 1981 Tuesday, April 14,1981 ro rm ziN-n IMPORTANT— This is a standard form. Its terms are subject to change at any time by the Treasury. This tender will be construed as a bid to purchase the 2-year notes for which the Treasury has outstanding an invitation for tenders. PRIVACY ACT STATEM ENT — 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. TENDER FOR 2-YEAR TREASURY NOTES T o Federal Reserve Bank of New Y ork Fiscal Agent o f the United States New York, N.Y. 10045 Dated at , 19 Pursuant to the provisions of the public notice issued by the Treasury Department inviting tenders for the current offering o f 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 in accordance with the provisions of the official offering circular. D o not fill in both Competitive and Noncompetitive tenders on one form COMPETITIVE TENDER $ ..............................................................(maturity value) or any lesser amount that may be awarded. NONCOMPETITIVE TENDER $ ..............................................................(maturity value) (Not to exceed $1,000,000 f o r one bidder through all sources) at the average price of accepted competitive bids. Y ield:................... (Yield must be expressed with not more than two decimal places, f o r example, 11.06) 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): P ieces D e n o m in a t io n XXX XXXXXX $ 5,000 $ 10,000 $ 100,000 M a tu rity value XXX XXX $ 1,000,000 Totals XXX □ Deliver over the counter to the undersigned (1) □ Ship to the undersigned (2) □ 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) Payment will be made as follows: E] By charge to our reserve account (D) Q By cash or check in immediately available fu n d s (F) □ By surrender of maturing securities (E) □ By charge to my correspondent bank.............................. (D) (Name of bank) □ Special instructions (3) □ Wire to .............................................................. . (Exact Receiving Bank Wire Address/Account) (8) ♦ 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 H EREBY C ERTIFY that we have not made and will not make any agreements for the sale or purchase of any securities o f this issue prior to the closing time for receipt o f this tender. WE FU RTH ER 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 o f, the payments required by the official offering circular. WE FURTH ER 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. NAME OF SU B S C R IB ER ( P L E A S E P R I N T OR T Y P E ) Insert this tender in special envelope marked “ Tender fo r Treasury Notes or Bonds ” STATE PHONE (I N C L U D E AREA C OD E) S I G N A T U R E OF SUB S C RI B ER OR A U T H O R I Z E D S IG NA T U RE T I T L E OF A U T H O R I Z E D S IG NE R (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 account; in doing so, they may consolidate competitive tenders at the sam e yield and may consolidate noncompetitive tenders, provided a list is attached showing the name of each bidder and the amount bid for his or her 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 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 York; checks endorsed to this Bank will not be accepted. 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 offerings, call our 24-hour recorded message at (212) 791-7773 at the Head Office or (716) 849-5046 at the Buffalo Branch. For results 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. (OVER) SUBSCRIPTION NO. SCHEDULE FOR ISSUE OF REGISTERED TREASURY SECURITIES DELIVERY INSTRUCTIONS PAYMENT INSTRUCTIONS S U B S C R IB E R ’S N A M E . n DELIVER OVER THE COUNTER □ ADDRESS n SHIP TO SUBSCRIBER n OTHER INSTRUCTIONS: C ITY _______________ _____________________ .ZIP Q BY SURRENDER QF MATURING SECURITIES n SIG N ATURE. ______________________ R E G IS TR A T IO N NO. OF P IE C E S INSTRUCTIONS N A M E(S) ID O R S .S . BY CHARGE TO OUR RESERVE ACCOUNT (H BY CASH OR CHECK IN IMMEDIATELY AVAILABLE FUNDS S T A T E . SER IAL NOS. DE NO M. 32 5 ,0 0 0 34 10,000 38 100,000 42 1 ,0 0 0 ,0 0 0 99 TOTAL NO. AMOUNT (LEAVE BLANK) F O R F R B USE O N L Y TRANS. AC COUN T I N G DATE I S S U E A G E N T 12 BY CHARGE TO MY CORRESPONDENT BANK 110-01 F O R F R B US E O N L Y ADDRESS STATE C IT Y N AM E(S) ID O R S .S . TR. CASE NO. ZIP 32 5 ,0 0 0 34 1 0,000 38 100,000 42 1 ,0 0 0 ,0 0 0 99 TOTAL NO. ADDRESS STATE C IT Y N AM E(S) ID O R T R . CASE NO. Z IP 32 5 ,0 0 0 34 1 0,0 00 38 1 00,000 42 1 ,0 0 0 ,0 0 0 99 TOTAL S.S. N O . ADDRESS C IT Y . STATE Z IP LOAN CODE T R . CASE NO. Form NY-ln IMPORTANT — Closing time for receipt of this tender is 1:30 p.m., Tuesday, March 24, 1981 Dated at FE D E RA L RESERVE BANK O F NEW Y O R K F iscal A g e n t o f th e U n ite d States N ew Y o r k . N .Y . 10045 T h e u n d e rs ig n e d h e re b y o ffe r s t o p u rc h a s e th e a b o v e -d e s c rib e d s e c u ritie s in th e a m o u n t in d ic a te d b e lo w , a n d agrees t o m a k e p a y m e n t th e re fo r a t y o u r B a n k in a c c o rd a n c e w it h th e p ro v is io n s o f th e o f f ic ia l o f f e r in g c ir c u la r . COMPETITIVE TENDER in in s crib in g the secu rities and e sta b lish in g and s ervicin g the o w n e rsh ip an d interest re c o rd s. T h e tra n sa ction will not b e c o m p le te d unless all re q u ire d d a ta is fu rn ish e d . secu rities If reg istered in d ivid u a lly id e n tifia b le in fo r m a tio n re q u ire d on this fo rm is necessary to p e rm it the s u b s cr ip tio n to b e p ro ce s s e d and the securities to b e issued. PRIVACY ACT STATEMENT-—T h e are r e q u e s te d , the re g u la tio n s g o v e rn in g U n ited States secu rities (D e p a rtm e n t C ir cu la r N o. 3 00 ) and the o ffe rin g circ u la r re q u ire s u b m is sio n o f so cia l secu rity n u m b e rs ; the n u m b e rs an d o th e r in fo r m a tio n are used TENDER FOR 4-YEAR TREASURY NOTES OF SERIES G-1985 D o not f i ll in both Competitive and Noncompetitive tenders on one form $ .......................................................................( m a t u r it y v a lu e ) NONCOMPETITIVE TENDER $ .......................................................................( m a t u r ity v a lu e ) (Not to exceed $1,000,000 fo r one bidder through all sources) o r a n y lesser a m o u n t th a t m a y be a w a rd e d . a t th e a ve ra g e p ric e o f a cce p te d c o m p e titiv e b id s . Y ie ld : ...................... (Yield must be expressed with not more than two decimal places, fo r example, 10.06) S u b je c t t o a llo tm e n t, please issue, d e liv e r, a n d a c c e p t p a y m e n t f o r th e s e c u ritie s as in d ic a te d b e lo w a n d o n th e re ve rse sid e ( i f r e g i s t e r e d s e c u r i t i e s a r e d e s ir e d , p l e a s e a ls o c o m p l e t e s c h e d u l e o n r e v e r s e s i d e ) : □ P ieces D e n o m in a tio n $ 1,000 $ 5 ,0 0 0 D eliver o v e r the c o u n te r to th e [~~| B y ch a rg e t o o u r reserve a cco u n t (D ) u n d e rsig n e d (1) M a tu rity value □ S h ip to the u n d e rsig n e d (2 ) □ H o ld in s a fe k e e p in g (fo r m e m b e r b a n k o n ly ) in — $ 1 0,000 $ 1 00,000 □ P a y m e n t w ill b e m a d e as fo llo w s : □ In vestm en t A c c o u n t (4 ) □ G e n e ra l A c c o u n t (5 ) □ T ru st A c c o u n t (6) H o ld as co lla te ra l fo r T re a su ry T a x and Q B y ca sh o r ch e ck in available funds immediately (F ) Q B y su rren d er o f m atu rin g securities (E ) Q B y ch a rg e to m y co r re sp o n d e n t b a n k ............................................................ (D ) __________________ (N a m e o f b a n k )_________ □ S pecial in stru ctio n s (3 ) L o a n A c c o u n t * (7) $ 1 ,0 0 0 ,0 0 0 □ T o ta ls . ( 8) W ire t o . (E x a ct R ece iv in g B an k W ire A d d r e s s /A c c o u n t ) * T h e u n d ersig n ed certifies that th e a llo tte d s e cu ritie s w ill b e o w n e d solely b y th e u n d e rsig n e d . ( I f a c o m m e r c ia l b a n k o r d e a le r is s u b s cr ib in g fo r its o w n a c c o u n t o r fo r a c c o u n t o f cu sto m e rs, the fo llo w in g ce r tifica tio n s a re m a d e a p a rt o f this te n d e r.) W E H E R E B Y C E R T I F Y th a t w e h a v e n o t m a d e a n d w i ll n o t m a k e a n y a g re e m e n ts f o r th e sale o r p u rc h a s e o f a n y s e c u ritie s o f th is issue p r io r t o th e c lo s in g tim e f o r re c e ip t o f th is te n d e r. W E F U R T H E R C E R T I F Y th a t w e h a ve re c e iv e d te n d e rs f r o m c u s to m e rs in th e a m o u n ts set f o r t h o p p o s ite th e ir n a m e s o n th e lis t w h ic h is m a d e a p a r t o f th is te n d e r a n d th a t w e h a v e re c e iv e d a n d a re h o ld in g f o r th e T re a s u ry , o r th a t w e g u a ra n te e p a y m e n t to th e T re a s u ry , o f th e p a y m e n ts r e q u ire d b y th e o f f ic ia l o f f e r in g c ir c u la r . W E F U R T H E R C E R T I F Y th a t te n d e rs re ce ive d b y us, i f a n y , f r o m o th e r c o m m e rc ia l b a n k s o r p r im a r y dealers f o r t h e ir o w n a c c o u n t, a n d f o r th e a c c o u n t o f t h e ir c u s to m e rs , h a v e been e n te re d w it h us u n d e r th e sam e c o n d itio n s , a g re e m e n ts , a n d c e r tific a tio n s set f o r t h in th is f o r m . name Insert this tender in special envelope marked “ Tenderfor Treasury Notes or Bonds” of 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 ) ADD RE SS CITY PHON E (I N C L U D E ARE A C O D E ) STATE ZIP S I G N A T U R E OF SU B S C R IB ER OR A U T H O R I Z E D S I GN A T U RE T I T L E OF A U T H O R I Z E D S IG NE R (In stitu tion s su b m ittin g ten d ers f o r cu s to m e r a c c o u n t m ust list c u s t o m e r s ’ n am es o n lines b e lo w o r o n an a tta ch e d rid e r.) (Name of customer) (Name of customer) IN S T R U C T IO N S : 1. N o ten d er f o r less than $ 1 ,0 0 0 w ill b e c o n s id e r e d ; a n d e a ch ten d er m ust b e fo r a m u ltip le o f $ 1 ,0 0 0 (m a tu rity va lu e). 2 . O n ly b a n k in g in stitu tion s, a n d d ealers w h o m a k e p rim a ry m ark ets in G o v e r n m e n t securities a n d re p o rt d a ily t o this B an k their p o sitio n s w ith respect to G o v e r n m e n t securities a n d b o r r o w in g s th e re o n , m a y s u b m it tend ers f o r cu s to m e r a c c o u n t ; in d o in g s o , they m ay c o n s o lid a t e c o m p e titiv e ten d ers at the same yield a n d m a y c o n s o lid a t e n o n c o m p e t it iv e ten d ers, p r o v id e d a list is a tta ch e d s h o w in g the nam e o f ea ch b id d e r a n d the a m o u n t b id f o r his a c c o u n t . O th ers w ill n o t b e p e rm itte d t o su b m it ten d ers e x ce p t f o r their o w n a c c o u n t. 3. T e n d e rs w ill b e receiv ed w ith o u t d e p o s it fr o m c o m m e r c ia l a n d o th e r b a n k s f o r their o w n a c c o u n t , fe d e ra lly insured savin gs a n d lo a n a s s o c ia tio n s , S tates, p o litica l s u b d iv isio n s o r in stru m en talities t h e r e o f, p u b lic p e n s io n a n d retirem en t a n d o th e r p u b lic fu n d s , in tern a tion a l o rg a n iz a tio n s in w h ich the U n ited States h o ld s m e m b e rs h ip , fo r e ig n ce n tra l b a n k s a n d fo r e ig n states, dea lers w h o m a k e p rim a ry m arkets in G o v e r n m e n t secu rities a n d r e p o rt d a ily to the F ed e ra l R eserv e B an k o f N ew Y o r k their p o s itio n s w ith resp ect to G o v e rn m e n t securities and b o r r o w in g s th e re o n , a n d G o v e r n m e n t a c c o u n t s . T e n d e rs f r o m o th e rs m ust b e a c c o m p a n ie d b y fu ll p a y m e n t o f the fa c e a m o u n t o f the secu rities a p p lie d f o r . 4 . P a y m en t w ith a ten d er m a y b e in the fo r m o f a p e rs o n a l c h e c k , w h ic h n eed n o t b e c e r tifie d , an o f f ic ia l b an k c h e c k , o r a F ed era l fu n d s ch e ck (a ch e ck d ra w n b y a c o m m e r c ia l b a n k o n its F ed era l R eserv e a c c o u n t ). A ll ch e ck s m ust b e d ra w n p a y a b le to the F ed eral R eserv e B ank o f N ew Y o r k ; checks endorsed to this Bank will not be accepted. P a y m e n t m a y a ls o b e m a d e in ca sh o r T re a su ry securities m atu rin g o n o r b e fo r e th e issue d a te o f the securities b ein g p u rch a se d . 5. F o r in fo r m a tio n o n cu rren tly a v a ila b le T re a s u ry offerings, ca ll o u r 2 4 -h o u r r e c o r d e d m essa ge at (2 1 2 ) 7 91 -7 7 73 at the H e a d O f f i c e o r (7 1 6 ) 8 4 9 -5 0 4 6 at the B u ffa lo B ra n ch . F o r results o f recen t T re a s u ry a u c tio n s , ca ll (2 1 2 ) 7 9 1 -5 8 2 3 at the H e a d O f f i c e o r (7 1 6 ) 8 49 -5 0 46 at the B u ffa lo B ra n ch . F o r o th e r in fo r m a tio n a b o u t T re a s u ry secu rities, ca ll (2 1 2 ) 7 9 1 -6 6 1 9 at the H e a d O f f i c e o r (7 1 6 ) 8 4 9 -5 0 1 6 at the B u ffa lo B ra n ch d u rin g n o r m a l b u sin ess h o u rs. 6 . I f the la n gu a g e o f this ten d er is c h a n g e d in a n y resp ect th a t, in the o p in io n o f the S e cre ta ry o f the T re a s u ry , is m ateria l, the tender m ay be d isre g a rd e d . (OVER) SUBSCRIPTION NO. SCHEDULE FOR ISSUE OF REGISTERED TREASURY SECURITIES DELIVERY INSTRUCTIONS PAYMENT INSTRUCTIONS SU BS C R IB ER ’S NAME. □ DELIVER OVER THE COUNTER □ A D D R E S S _____________ □ SHIP TO SUBSCRIBER □ □ OTHER INSTRUCTIONS: □ BY CHARGE TO OUR RESERVE ACCOUNT BY CASH OR CHECK IN IMMEDIATELY AVAILABLE FUNDS C I T Y __________________ .STATE . .ZIP SIGNATURE. REGISTRATION NO. OF P IE C E S INSTRUCTIONS NAME(S) ID OR S.S. NO. ADDRESS CITY STATE BY SURRENDER OF MATURING SECURITIES r i BY CHARGE TO MY CORRESPONDENT BANK TRANS. A C C O U N TIN G DATE ISS U E A G E N T 12 30 1,000 32 5 ,0 0 0 34 1 0,000 38 100,000 42 1 ,0 0 0 ,0 0 0 99 TOTAL AMOUNT (LEAVE BLANK) F O R F R B USE O N L Y TR. C A S E NO. 30 1 ,0 0 0 32 5 ,0 0 0 34 10,000 38 100 ,00 0 42 1 ,0 0 0 ,0 0 0 99 TOTAL ID OR S.S. NO. ADDRESS CITY STATE ZI P N AME(S) TR. C A S E NO. 30 1 ,0 0 0 32 5 ,0 0 0 34 10,000 38 1 00 ,00 0 42 1 ,000,000 99 TOTAL ID OR S.S. NO. ADDRESS CITY. STATE ZI P LOAN CODE 110-01 S E R IA L NOS. D E NO M. ZI P NAME(S) FO R F R B USE O N LY TR. C A S E NO. UNITED STATES OF AMERICA TREASURY NOTES OF MARCH 3 1 , 1 9 8 3 SERIES P - 1 9 8 3 DE P ARTMENT CIRCULAR Public Debt Series - No. 7-81 1. 1. 1. DEPARTMENT OF THE TREASURY, OFFICE OF THE SECRETARY, Washington, March 12, 1981. INVITATION FOR TENDERS The Secretary of the Treasury, under the authority of the Second Liberty Bond Act, as amended, invites tenders for a p p rox i m a t e ly $4,750,000,000 of United States securities, designated Treasury Notes of March 31, 1983, Series P-1983 No. 912827 LR 1). (CUSIP The securities will be sold at auction, with bidding on the basis of yield. Payment will be required at the price equivalent of the bid yield of each accepted tender. The interest rate on the securities and the price equivalent of each accepted bid will be determined in the manner described below. Additional amounts of these securities may be issued to Government accounts and Federal Reserve Banks for their own account in exchange for maturing Treasury securities. Additional amounts of the new securities may also be issued at the average price 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. 2. 2. 1. DESCRIPTION OF SECURITIES The securities will be dated March 31, 1981, and will bear interest from that date, payable on a semiannual basis on September 30, 1981, and each subsequent 6 months on March 31 and S e p tember 30, until the principal becomes payable. They will mature March 31, 1983, and will not be subject to call for redemption prior to maturity. In the event an interest payment date or the maturity date is a Saturday, Sunday, or other nonbusiness day, the interest or principal is payable on the next-succeeding business day. Ref. Cir. No. 903^ I 1. 1. all taxes The income derived from the securities is subject to imposed under the Internal Revenue Code of 1954. securities are subject to estate, The inheritance, gift, or other excise taxes, whether Federal or State, but are exempt from all taxation now or hereafter imposed on the principal or interest thereof by any State, any possession of the United States, or any local taxing authority. 2. 3. The securities will be acceptable to secure deposits of public monies. They will not be acceptable in payment of taxes . 2. 4. Bearer securities with interest coupons attached, and securities registered as to principal and interest, will be issued in denominations of $5,000, $10,000, $100,000, and $1,000,000. Book-entry securities will be available to eligible bidders in multiples of those amounts. Interchanges of securities of different denominations and of coupon, registered and book-entry securities, and the transfer of registered securities will be permitted. 2. 5. The Department of the Treasury's general regulations governing United States securities apply to the securities offered in this circular. in effect, These general regulations include those currently as well as those that may be issued at a later date. 3. 3. 1. SALE PROCEDURES Tenders will be received at Federal Reserve Banks and Branches and at the Bureau of the Public Debt, Washington, D. C. 20226, up to 1:30 p.m., Eastern Standard time, Wednesday, March 18, 1981. Noncompetit iv e tenders as defined below will be considered timely if postmarked no later than Tuesday, March 17, 1981. 3. 2. bid for. Each tender must state the face amount of securities The m i n imum bid is $5,000 and larger bids must be in multiples of that amount. yield desired, Competitive tenders must also show the expressed in terms of an annual yield with two decimals, e.g., 7.11%. Common fractions may not be used. Noncom p e t i t iv e tenders must show the term "noncompetitive" on the tender form in lieu of a specified yield. No bidder may submit more than one noncompetitive tender and the amount may not exceed $ 1 , 000 , 000 . - 3. 3. 3 - All bidders must certify that they have not made and will not make any agreements for the sale or purchase of any securities of this issue prior to the deadline established Section 3.1. for receipt of tenders. in Those authorized to submit tenders for the account of customers will be required to certify that such tenders are submitted under the same conditions, ments, agree and certifications as tenders submitted directly by bidders for their own account. 3. 4. Commercial banks, which for this purpose are defined as banks accepting demand deposits, and primary dealers, which for this purpose are defined as dealers who make primary markets in Government securities and report daily to the Federal Reserve Bank of New York their positions in and borrowings on such securities, may submit tenders for account of customers if the names of the customers and the amount for each customer are furnished. Others are only permitted to submit tenders for their own account. 3. 5. Tenders will be received without deposit for their own account from commercial banks and other banking institutions; p r i mary dealers, as defined above; Federally-insured savings and loan associations; States, and their political subdivisions or instrumentalities; public pension and retirement and other public funds; international organizations in which the United States holds membership; states; foreign central banks and foreign Federal Reserve Banks; and Government accounts. Tenders from others must be accompanied by full payment for the amount of securities applied for (in the form of cash, maturing T reasury securities, or readily collectible checks), or by a payment guarantee of 5 percent of the face amount applied for, from a commercial bank or a primary dealer. 3. opened, 6. Immediately after the closing hour, tenders will be followed by a public announcement of the amount and yield range of accepted bids. Subject to the reservations expressed in Section 4, noncompetitive tenders will be accepted in full, and then competitive tenders will be accepted, starting with those at - the lowest yields, 4 - through successively higher yields to the extent required to attain the amount offered. Tenders at the highest accepted yield will be prorated if necessary. After the d e t e r m i n a t i on is made as to which tenders are accepted, a coupon rate will be established, on the basis of a 1/8 of one percent increment, which results in an equivalent average accepted price close to 100.000 and a lowest accepted price above the original issue discount limit of 99.500. paid on all of the securities. That rate of interest will be Based on such interest rate, the price on each competitive tender allotted will be determined and each successful competitive bidder will be required to pay the price equivalent to the yield bid. Those submitting non competitive tenders will pay the price equivalent to the weighted average yield of accepted competitive tenders. Price calcula tions will be carried to three decimal places on the basis of price per hundred, e.g., 99.923, and the determinations of the Secretary of the T reasury shall be final. If the amount of non competitive tenders received would absorb all or most of the offering, competitive tenders will be accepted in an amount sufficient to provide a fair deter m i n a t i on of the yield. Tenders received from G o v ernment accounts and Federal Reserve Banks will be accepted at the price eq uivalent to the weighted average yield of accepted competitive tenders. 3. 7. Competitive bidders will be advised of the acceptance or rejection of their tenders. Those submitting noncompetitive tenders will only be notified if the tender is not accepted in full, or when the price is over par. 4. 4. 1. RESERVATIONS The Secretary of the Treasury expressly reserves the right to accept or reject any or all tenders in whole or in part, to allot more or less than the amount of securities specified in Section 1, and to make diffe r e n t percentage allotments to various classes of applicants when the Secretary considers it in the public interest. f inal. The Secretary's action under this Section is - 5 5. 5. 1. PAYMENT AND DELIVERY Settlement for allotted securities must be made at the Federal Reserve Bank or Branch or at the Bureau of the Public Debt, w herever the tender was submitted. Settlement on securities allotted to institutional investors and to others whose tenders are accompanied by a payment guarantee as provided in Section 3.5., must be made or completed on or before Tuesday, March 31, 1981. Payment in full must accompany tenders submitted by all other investors. Payment must be in cash; Treasury; in other funds immediately available to the in Treasury bills, notes, or bonds (with all coupons detached) maturing on or before the settlement date but which are not overdue as defined in the general regulations governing United States securities; or by check drawn to the order of the institution to which the tender was submitted, which must be received from insti tutional investors no later than Friday, March 27, 1981. When payment has been submitted with the tender and the purchase price of allotted securities is over par, settlement for the premium must be completed timely, as specified in the preceding sentence. When payment has been submitted with the tender and the purchase price is under par, the discount will be remitted to the bidder. Payment will not be considered complete where registered securities are requested if the appropriate identifying number as required on tax returns and other documents submitted to the Internal Revenue Service (an i n d i v i d u a l ’s social security number or an employer identification number) furnished. is not When payment is made in securities, a cash adjustment will be made to or required of the bidder for any difference between the face amount of securities presented and the amount payable on the securities allotted. 5. 2. In every case where full payment has not been completed on time, an amount of 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. 5. 3. Registered securities tendered in payment for allotted securities are not required to be assigned if the new securities are to be registered in the same names and forms as appear in the regis trations or assignments of the securities surrendered. When the new securities are to be registered in names and forms different from those in the inscriptions or assignments of the securities oresented, 6 the assignment should be to "The Secretary of the Treasury for (securities offered by this circular) taxpayer identifying number)." desired, in the name of (name and If new securities in coupon form are the assignment should be to "The Secretary of the Treasury for coupon (securities offered by this circular) (name and address)." to be delivered to Specific instructions for the issuance and d e l i v e r y of the new securities, signed by the owner or authorized representative, must accompany the securities presented. Securities tendered in payment should be surrendered to the Federal Reserve Bank or Branch or to the Bureau of the Public Debt, Washington, 20226. D. C. The securities must be delivered at the expense and risk of the holder. 5. 4. If bearer securities are not ready for delivery on the settlement date, purchasers m a y elect to receive interim certificates. These certificates shall be issued in bearer form and shall be exchangeable for definitive securities of this issue, when such securities are available, at any Federal Reserve Bank or Branch or at the Bureau of the Public Debt, Washington, D. C. 20226. The interim certificates must be returned at the risk and expense of the holder. 5. 5. Delivery of securities in registered form will be made after the requested form of registration has been validated, the registered interest account has been established, and the securities have been inscribed. 6. 6. 1. GENE R A L PROVISIONS As fiscal agents of the United States, Federal Reserve Banks are authorized and requested to receive tenders, make allotments as directed by the Secretary of the Treasury, issue such notices as may be necessary, to to to receive payment for and make delivery of securities on full-paid allotments, and to issue interim certificates pending delivery of the definitive securities. 6. 2. The Secretary of the T r easury may at any time issue supplemental or amendatory rules and regulations governing the offering. Public announcement of such changes will be promptly provided. Paul H. Taylor, Fiscal A s s istant Secretary. UNITED STATES OF AMERICA TREASURY NOTES OF MARCH 31, 1985 SERIES G-1985 DEPARTMENT CIRCULAR Public Debt Series - No. 8-81 1. 1. 1. IN V IT A T IO N DEPARTMENT OF THE TREASURY, OFFICE OF THE SECRETARY, Washington, March 12, 1981. FOR T E N D E R S The Secretary of the Treasury, the Second Liberty Bond Act, as amended, under the authority of invites tenders for approximately $ 3 , 500-, 000,000 of United States securities, designated Treasury Notes of March 31, 1985, Series G-1985 LS 9). (CUSIP No. 912827 The securities will be sold at auction, with bidding on the basis of yield. Payment will be required at the price equivalent of the bid yield of each accepted tender. The interest rate on the securities end the price equivalent of each accepted bid will be determined in the manner described below. Additional amounts of these securities may be issued to Government accounts and Federal Reserve Banks for their own account in exchange for maturing T r easury securities. Additional amounts of the new securities may also be issued at the average price to Federal Reserve Banks, as agents for foreign and international m o n e t a r y authorities, to the extent that the aggregate amount of tenders for such accounts exceeds the aggregate amount of maturing securities held by them. 2. 2. 1. DESCRIPTION OF SECURITIES The securities will be dated March 31, 1981, and will bear interest from that date, payable on a semiannual basis on September 30, 1981, and each subsequent 6 months on March 31 and September 30 until the principal becomes payable. They will mature March 31, 1985, and will not be subject to call for redemption prior to maturity. In the event an interest payment date or the m a turitv date is a Saturday, Sunday, or other nonbusiness day, the interest or principal is payable on the next-succeeding business day. 2. 2. The income derived from the securities is subject to all taxes imposed under the Internal Revenue Code of 1954. The securities are subject to estate, inheritance, gift, or other excise taxes, whether Federal or State, but are exempt from all taxation now or hereafter imposed on the principal or interest thereof by any State, any possession of the United States, or any local taxing authority. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis _____________________________________________________________________________________________________________________________________________________________ ________________ — REFo - _____________ - C ir . - - N o. 902b ^ a* # -2 - 2. 3. The securities will be acceptable to secure deposits of public monies. They will not be acceptable in payment of taxes . 2. 4. Bearer securities with interest coupons attached, and securities registered as to principal and interest, will be issued in denominations of $1,000, $1,000,000. bidders $5,000, $10,000, $100,000, and B o o k-entry securities will be available to eligible in multiples of those amounts. Interchanges of securities of different denominations and of coupon, registered, and book-entry securities, and the transfer of registered securities will be permitted. 2. 5. The Departme n t of the Treasury's general regulations governing United States securities apply to the securities offered in this circular. These general regulations include those currently in effect, as well as those that may be issued at a later date. 3. 3. 1. SALE PROCEDURES Tenders will be received at Federal Reserve Banks and Branches and at the Bureau of the Public Debt, Washington, D. C. 20226, up to 1:30 p.m., Eastern Standard time, Tuesday, March 24, 1981. Noncompe t i t iv e tenders as defined below will be considered timely if postmarked no later than Monday, March 23, 1981. 3. bid for. 2. Each tender m ust state the face amount of securities The minimum bid is $1,000 and larger bids must be in multiples of that amount. yield desired, expressed decimals, e.g., 7.11%. Competitive tenders must also show the in terms of an annual yield with two Common fractions may not be used. Noncomp e t i t iv e tenders must show the term "noncompetitive" on the tender form in lieu of a specified yield. No bidder may submit more than one noncompetit iv e tender and the amount may not exceed $ 1 , 000 , 000 . 3. 3. All bidders must certify that they have not made and will not make any agreements for the sale or purchase of any securities of this issue prior to the deadline established in Section 3.1. for receipt of tenders. Those authorized to submit tenders for the account of customers will be required to certify t h at such tenders are submitted ments, under the same conditions, a g ree and certifications as tenders submitted directly by bidders for their own account. 3. 4. Commercial banks, which for this purpose are defined as banks accepting demand deposits, and primary dealers, which for this purpose are defined as dealers who make primary markets in Government securities and report daily to the Federal Reserve Bank of New York their positions in and borrowings on such securities, may submit tenders for account of customers if the names of the customers and the amount for each customer are furnished. Others are only permitted to submit tenders for their own account. 3. 5.- Tenders will be received without deposit for their own account from commercial banks and other banking institutions; primary dealers, as defined above; Federally-insured savings and loan associations; States, and their political subdivisions or instrumentalities; public pension and retirement and other public funds; international organizations in which the United States holds membership; foreign central banks and foreign states; Federal Reserve Banks; and Government accounts. Tenders from others must be accompanied by full payment for the amount of securities applied for (in the form of cash, maturing Treasury securities, or readily collectible checks), or by a payment guarantee of 5 percent of the face amount applied for, from a commercial bank or a primary dealer. 3. opened, 6. - Immediately after the closing hour, tenders will be followed by a public announcement of the amount and yield range of accepted bids. Subject to the reservations expressed in Section 4, noncompetitive tenders will be accepted in full, and then competitive tenders will be accepted, the lowest yields, starting with those at through successively higher yields to the extent required to attain the amount offered. highest accepted yield will be prorated Tenders at the if necessary. determination is made as to which tenders are accepted, After the a coupon rate will be established, on the basis of a 1/8 of one percent increment, which results in an equivalent average accepted price close to 100.000 and a lowest accepted price above the oriainal issue discount limit of 99.000. That rate of interest will be -4- paid on all of the securities. Based on such interest rate, the price on each competitive tender allotted will be determined and each successful competitive bidder will be required to pay the price equivalent to the yield bid. Those submitting noncompetitive tenders will pay the price equivalent to the weighted average yield of accepted competitive tenders. Price calculations will be carried to three decimal places on the basis of price per hundred, e.g., 99.923, and the determinations of the Secretary of the T reasur y shall be final. If the amount of n oncompetitive tenders received would absorb all or most of the offering, competitive tenders will be accepted in an amount sufficient to provide a fair d e termination of the yield. Tenders received from G o v e r n m e n t accounts and Federal Reserve Banks will be accepted at the price equivalent to the weighted average yield of accepted competitive tenders. 3. 7. Competitive bidders will be advised of the acceptance or rejection of their tenders. tenders will only be notified Those submitting noncompetitive if the tender is not accepted in full, or when the price is over par. 4. 4. 1. RESERVATIONS The Secreta r y of the Treasury expressly reserves the right to accept or reject any or all tenders in whole or in part, to allot more or less than the amount of securities specified in Section 1, and to make different percentage allotments to various classes of applicants when the Secretary considers it in the public interest. The Secretary's action under this Section is final. 5. 5. 1. PAYMENT AND DELIVERY Settlement for allotted securities must be made at the Federal Reserve Bank or Branch or at the Bureau of the Public Debt, wherever the tender was submitted. Settlement on securities allotted to institutional investors and to others whose tenders are accompanied by a payment guarantee as provided in Section 3.5., must be made or completed on or before Tuesday, March 31, 1981. Payment in full must accompany tenders submitted by all other investors. Payment must be in cash; in other funds immediately available to the Treasury; in Treasury bills, notes or bonds (with all coupons detached) maturing on or before the settlement date but which are not overdue as defined in the general regulations governing United States -5 - securities; or by check drawn to the order of the institution to which the tender was submitted, which must be received from institutional investors no later than Friday, March 27, 1981. When payment has been submitted with the tender and the purchase price of allotted securities is over par, settlement for the premium must be completed timely, as specified in the preceding sentence. When payment has been submitted with the tender and the purchase price is under par, the discount will be remitted to the bidder. Payment will not be considered complete where registered securities are requested if the appropriate identifying number as required on tax returns and other documents submitted to the Internal Revenue Service (an individual's social security number or an employer identification number) is not furnished. When payment is made in securities, a cash adjustment will be made to or required of the bidder for any difference between the face amount of securities presented and the amount payable on the securities allotted. 5. 2. In every case where full payment has not been completed on time, an amount of 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. 5. 3. Registered securities tendered in payment for allotted securities are not required to be assigned if the new securities are to be registered in the same names and forms as appear in the registrations or assignments of the securities surrendered. the new securities are to be registered When in names and forms different from those in the inscriptions or assignments of the securities presented, the assignment should be to "The Secretary of the Treasury for (securities offered by this circular) (name and taxpayer identifying number)." coupon form are desired, in the name of If new securities in the assignment should be to "The Secretary of the Treasury for coupon (securities offered by this circular) be delivered to (name and address)." to Specific instructions for the issuance and delivery of the new securities, signed by the owner or authorized representative, must accompany the securities presented. Securities tendered in payment should be surrendered to the Federal Reserve Bank or Branch or to the Bureau of the Public Debt, Washington, expense D. C. 20226. The securities must be delivered at the and risk of the holder. -6 - 5. 4. If bearer securities are not ready for delivery on the settlement date, purchasers may elect to receive interim certificates. These certificates shall be issued in bearer form and shall be exchangeable for definitive securities of this issue, when such securities are available, at any Federal Reserve Bank or Branch or at the Bureau of the Public Debt, Washington, D. C. 20226. The interim certificates must be returned at the risk and expense of the holder. 5. 5. Delivery of securities in registered form will be made after the requested form of registration has been validated, the registered interest account has been established, and the securities have been inscribed. 6. 6. 1. G EN ER A L P R O V IS IO N S As fiscal agents of the United States, Federal Reserve Banks are authorized and requested to receive tenders, make allotments as directed by the Secretary of the Treasury, issue such notices as may be necessary, to to to receive payment for and make deliv e r y of securities on full-paid allotments, and to issue interim certificates pending delivery of the definitive securities. 6. 2. The Secretary of the Treasury may at any time issue supplemental or amendato r y rules and regulations governing the offering. Public announcement of such changes will be promptly provided. Paul H. Taylor, Fiscal Assistant Secretary.
@FedFRASER