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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 9257 March 11, 1982 TREASURY TO AUCTION 2-YEAR AND 4-YEAR NOTES TOTALING $9,000 MILLION To A ll Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following statement was issued by the Treasury Department: The Department of the Treasury will auction $5,250 million of 2-year notes and $3,750 million of 4-year notes to refund $6,037 million of notes maturing March 31, 1982, and to raise $2,963 million new cash. The $6,037 million of maturing notes are those held by the public, including $335 million of maturing 2-year notes and $356 million of maturing 4-year 1-month notes 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 $888 million of the maturing notes 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 their aggregate tenders for each of the new notes exceed their aggregate holdings of each of the maturing 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 Standard time, on the dates specified on the reverse side of this circular as the deadlines for receipt of tenders. A ll 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 noncom petitive 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 depository institution 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 nthony m . Solom on , President. (Over) HIGHLIGHTS OF TREASURY OFFERINGS TO THE PUBLIC OF 2-YEAR AND 4-YEAR NOTES TO BE ISSUED MARCH 31, 1982 2-Year Notes 4-Year Notes Amount Offered: To the public.................................... $5,250 million $3,750 million Description of Security: Term and type of security................ 2-year notes 4-year notes Series and CUSIP designation........ Series Q-1984 (CUSIP No. 912827 MZ2) Series G-1986 (CUSIP No. 912827 NA6) Maturity date.................................... March 31, 1984 March 31, 1986 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.................... September 30 and March 31 September 30 and March 31 Minimum denomination available . $5,000 $ 1,000 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 Acceptable Acceptable Wednesday, March 17, 1982, by 1:30 p.m., EST Wednesday, March 24, 1982, by 1:30 p.m., EST Wednesday, March 31, 1982 Wednesday, March 31, 1982 b) readily collectible check........ Monday, March 29, 1982 Monday, March 29, 1982 Delivery date for coupon securities Wednesday, April 7, 1982 Wednesday, April 14, 1982 Terms of Sale: Method of sale.................................. Payment by noninstitutional investors.................. Deposit guarantee by designated institutions.................................... Key Dates: Deadline for receipt of tenders.......... Settlement date (final payment due from institutions) a) cash or Federal funds............
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