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FEDERAL RESERVE BANK OF NEW YORK F iscal A gent o f the U nited States Circular No. 9309 June 10, 1982 TREASURY TO AUCTION 2-YEAR AND 4-YEAR NOTES TOTALING $9,500 MILLION T o A l l B a n k in g In 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 ra l R e s e r v e D istr ic t: The following statement was issued by the Treasury Department: The Department of the Treasury will auction $5,500 million of 2-year notes and $4,000 million of 4-year notes to refund $6,971 million of notes maturing June 30, 1982, and to raise $2,529 million new cash. The $6,971 million of maturing notes are those held by the public, including $1,615 million of maturing 2-year notes and $355 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 $838 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. The Treasury will postpone the 4-year note auction unless it has assurance of Congressional action on legislation to raise the temporary debt ceiling before the scheduled auction date of June 23, 1982. 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. A l l c o m p e t i t i v e t e n d e r s , 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 n o n c o m p e t i t i v e 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; c h e c k s e n d o r s e d t o t h i s B a n k w i l l n o t b e a c c e p t e d . 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. So l o m o n , P r e s id e n t. (Over) HIGHLIGHTS OF TREASURY OFFERINGS TO THE PUBLIC OF 2-YEAR AND 4-YEAR NOTES TO BE ISSUED JUNE 30, 1982 2-Year Notes 4-Year Notes $ 5 , 5 0 0 m illio n $ 4 ,0 0 0 m illio n 2 -y e a r n o te s 4 -y e a r n ote s Amount Offered: T o the p u b lic .. Description of Security: T e r m a n d ty p e o f s e c u r it y ............... S e r ie s T - 1 9 8 4 S e rie s H - 1 9 8 6 ( C U S IP N o. 912827 N H 1 ) ( C U S I P N o . 912827 N J7 ) M a t u r i t y d a t e ................................. June 3 0 ,1 9 8 4 Ju ne 3 0 ,1 9 8 6 C a l l d a t e ........................................ N o p r o v is i o n N o p r o v is io n In te re st c o u p o n r a t e ...................... T o b e d e te rm in e d , b a se d o n the T o b e d e te rm in e d , b a se d o n the a v e ra g e o f a cc e p te d b id s a v e ra g e o f accep ted b id s In v e s tm e n t y i e l d ............................ T o be d e te rm in e d at a u c t io n T o be d e te rm in e d at a u c t io n P r e m iu m o r d i s c o u n t .................... T o be d e te rm in e d a fte r a u c t io n T o be d e te rm in e d a fte r a u c t io n In te re st p a y m e n t d a t e s .................. D e c e m b e r 31 a n d J u n e 3 0 D e c e m b e r 31 a n d J u n e 3 0 M i n i m u m d e n o m in a t io n a v a ila b le . $ 5 ,0 0 0 $1,000 M e t h o d o f s a l e ................................. Y i e ld a u c t io n Y ie ld a u c t io n A c c r u e d in te re st p a y a b le b y in v e sto r. None None P r e fe r r e d a llo t m e n t ......................... N o n c o m p e t it iv e b id fo r N o n c o m p e t it iv e b id fo r S e r ie s a n d C U S I P d e s ig n a t io n ....... Terms of Sale: $ 1 ,0 0 0 , 0 0 0 o r less $ 1 ,0 0 0 ,0 0 0 o r less Paym ent by nonin s t it u t io n a l in v e s t o r s ................ F u ll p a y m e n t to be s u b m itt e d w ith te n d e r F u ll p a y m e n t to be s u b m itt e d w ith ten de r D e p o s it g u a ra n t e e b y d e sig n a te d A c c e p t a b le A c c e p ta b le Wednesday, June 16, 1982, by 1:30 p.m., EDST Wednesday, June 23, 1982, by 1:30 p.m., EDST a) c a s h o r F e d e ra l f u n d s ........... W e d n e s d a y , J u n e 30, 1982 W e d n e s d a y , J u n e 30, 1982 b) re a d ily co lle c tib le c h e c k ....... M o n d a y , J u n e 2 8 , 1982 M o n d a y , J u n e 28, 1982 Thursday, July 8, 1982 Thursday, July 15, 1982 in s t it u t io n s ................................. Key Dates: D e a d lin e f o r receip t o f te n d e rs ......... S e ttle m e n t d a te ( fin a l p a y m e n t d u e f r o m in s t it u t io n s ) Delivery date for coupon securities
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