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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 9363 September 15, 1982 Treasury Announces Auctions of $11,750 Million of Notes and Bonds and Elimination of Bearer Securities for New Bond Issues To All Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following statement has been issued by the Treasury Department: The Treasury will raise about $9,350 million of new cash by issuing $5,000 million of 4-year notes, $4,000 million of 7-year notes, and $2,750 million of 20-year 1-month bonds. This offering will also refund $2,401 million of 4-year 1-month notes maturing September 30, 1982. The $2,401 million of maturing 4-year 1-month notes are those held by the public, including $335 million currently held by Federal Reserve Banks as agents for foreign and international monetary authorities. The $11,750 million is being offered to the public, and any amounts tendered by Federal Reserve Banks as agents for foreign and international monetary authorities (including the $335 million of maturing 4-year 1-month notes, which may be used in settlement only for the new 4-year notes to be issued September 30, 1982) will be added to that amount. In addition to the public holdings, Government accounts and Federal Reserve Banks, for their own accounts, hold $100 million of the maturing 4-year 1-month notes that may be refunded by issuing additional amounts of the new 4-year notes at the average price of accepted competitive tenders. The settlement date for the 7-year and 20-year 1-month securities is being advanced from early October to September 29 due to uncertainty as to the timing of Congressional action on extension of the debt limit. Effective w the offering of this 20-year 1-month bond, new issues of marketable Treasury bonds will no ith longer be available in bearer form. New offerings of Treasury bonds will be available only in book-entry and registeredforms. This action is consistent with aprovision of the Tax Equity andFiscal Responsibility Act of 1982, which requires Treasury bonds issued after September 5, 1982, and notes issued after December 31, 1982, to be in registered or book-entry form. In addition, a recent Treasury study concluded that significant operational savings will result from the elimination of bearer securities. At this time, it is anticipated that new issues of Treasury notes will continue to be offered in bearer form through 1982, but only in book-entry and registered forms beginning in 1983. Bearer securities will remain available through maturity for all currently outstanding note and bond issues as well as for notes issued prior to January 1, 1983. 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. N o . 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 Office and at its Buffalo Branch on the dates and times 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 considered 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). A ll 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 Office — Tel. N o. 212-791-7773 (offerings) and Tel. N o . 212-791-5823 (results); at the Buffalo Branch — Tel. N o . 716-849-5046. Additional inquiries regarding these offerings may be made by calling, at the Head O ffice, Tel. N o. 212-791-6619, or, at the Buffalo Branch, Tel. N o. 716-849-5016. A nthony m . Solomon, P r e s id e n t. (Over) HIGHLIGHTS OF TREASURY OFFERINGS TO THE PUBLIC 4-Year Notes 7-Year Notes 20-Year 1-Month Bonds Amount Offered: T o the p u b lic............................ $5,000 million $4,000 million $2,750 million Description o f Security: Term and type o f secu rity___ 4-year notes 7-year notes 20-year 1-month bonds Series and CUSIP designation Series J-1986 (CUSIP No. 912827 NR9) Series F-1989 (CUSIP No. 912827 NS7) Bonds o f 2002 (CUSIP No. 912810 SD3) Issue date.................................. . September 30, 1982 September 29, 1982 September 29, 1982 Maturity d a t e ........................... September 30, 1986 October 15, 1989 November 15, 2002 Call date...................................... No provision No provision No provision Interest coupon ra te................. T o be determined, based on the average o f accepted bids T o be determined, based on the average o f accepted bids T o be determined, based on the average o f accepted bids Investment y ie ld ....................... T o be determined at auction T o be determined at auction T o be determined at auction Premium or d iscou n t............... T o be determined after auction T o be determined after auction T o be determined after auction Interest payment dates............ March 31 and September 30 April 15 and October 15 (first payment on April 15, 1983) May 15 and November 15 (first payment on May 15, 1983) $1,000 $ 1,000 Yield auction Yield auction Accrued interest payable by investor . . None None None Preferred a llotm en t............................Noncompetitive bid for $1,000,000 or less Noncompetitive bid for $1,000,000 or less Noncompetitive bid for $1,000,000 or less Payment by non-institutional investors.......................................... Full payment to be submitted with tender Full payment to be submitted with tender Full payment to be submitted with tender Deposit guarantee by designated institutions...................................... Acceptable Acceptable Acceptable Wednesday, September 22, 1982, by 1:30 p.m ., EDST Thursday, September 23,1982, by 1:30 p.m ., EDST Wednesday, September 29, 1982 Wednesday, September 29, 1982 Monday, September 27, 1982 Monday, September 27, 1982 Wednesday, October 13, 1982 Not applicable Minimum denomination available . . $1,000 Terms o f Sale: Method o f s a l e .................................... Yield auction Key Dates: Deadline for receipt o f ten ders.........Tuesday, September 21,1982, by 1:30 p.m ., EDST Settlement date (final payment due from institutions) a) cash or Federal fu n d s ............... Thursday, September 30, 1982 b) readily collectible c h e c k ...........Tuesday, September 28, 1982 Delivery date for coupon securities . . . Tuesday, October 12,1982
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