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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 9402 November 12, 1982 TREASURY TO AUCTION $6,750 MILLION OF 2-YEAR NOTES 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 $6,750 million of 2-year notes to refund $4,544 million of 2-year notes maturing November 30, 1982, and to raise $2,206 million new cash. The $4,544 million of maturing 2-year notes are those held by the public, including $557 million currently held by Federal Reserve Banks as agents for foreign and international monetary authorities. The $6,750 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 $557 million of maturing securities) will be added to that amount. In addition to the public holdings, Government accounts and Federal Reserve Banks, for their own accounts, hold $422 million of the maturing securities that may be refunded by issuing additional amounts of the new notes at the average price of accepted competitive tenders. 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). Enclosed is a copy of a standard form for your use in submitting tenders for this offering (or for any subsequent offering of 2-year notes). This Bank will receive tenders up to 1:30 p.m., Eastern Standard time, Wednesday, November 17, 1982, at the Securities Department of its Head Office and at its Buffalo Branch. A ll com petitive 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 noncom petitive tenders will be considered timely received if they are mailed to this Bank or its Branch under a postmark no later than N ovem ber 16. 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 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. ANTHONY M . SOLOMON, President. (Over) HIGHLIGHTS OF TREASURY OFFERING TO THE PUBLIC OF 2-YEAR NOTES TO BE ISSUED NOVEMBER 30, 1982 (D elivery date f o r coupon securities is D ecem b er 9, 1982) Amount Offered: To the p u b lic ........................................................................................................................ $6,750 million Description of Security: Term and type o f security................................................................................................ 2-year notes Series and CUSIP designation...................................................................................... Series Y-1984 (CUSIP N o. 912827 NW8) Maturity d a te........................................................................................................................ November 30, 1984 Call d a te ................................................................................................................................. No provision Interest coupon r a t e ......................................................................................................... To be determined, based on the average o f accepted bids Investment yield................................................................................................................... To be determined at auction Premium or discount......................................................................................................... To be determined after auction Interest payment d a te s .................................................................................................... May 31 and November 30 Minimum denom ination available............................................................................... $5,000 Terms of Sale: M ethod o f sa le ..................................................................................................................... Yield auction Accrued interest payable by investor.......................................................................... None Preferred allotm ent............................................................................................................ Noncom petitive bid for $1,000,000 or less Payment by non-institutional in v esto rs................................................................... Full payment to be submitted with tender Deposit guarantee by designated institutions......................................................... Acceptable Key Dates: Deadline for receipt o f tenders...................................................................................... Wednesday, November 17, 1982, by 1:30 p.m ., EST Settlement date (final payment due from institutions) a) cash or Federal funds............................................................................................. Tuesday, November 30, 1982 b) readily collectible check........................................................................................ Friday, November 26, 1982 Delivery date for coupon securities............................................................................ Thursday, December 9,1982
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