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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States p TREASURY TO AUCTION 2-YEAR AND 4-YEAR NOTES TOTALING $12,000 MILLION Circular N o. 9417 LFDecember 9, 1982 :2 J To All 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 $7,000 million of 2-year notes and $5,000 million of 4-year notes to refund $7,217 million of securities maturing December 31, 1982, and to raise $4,783 million new cash. The $7,217 million of maturing securities are those held by the public, including $702 million of maturing securities currently held by Federal Reserve Banks as agents for foreign and international monetary authorities. The $12,000 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 $702 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 $943 million of the maturing securities that may be refunded by issuing additional amounts of the new securities at the average prices of accepted competitive tenders. 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 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. A l l c o m p e titiv e ten d ers , 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 titiv 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 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; c h e c k s e n d o r s e d to this B a n k will n o t b e a c c e p te d . 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. 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 n t h o n y M. So l o m o n , P r e sid e n t. (O v e r) HIGHLIGHTS OF TREASURY OFFERINGS TO THE PUBLIC OF 2-YEAR AND 4-YEAR NOTES TO BE ISSUED DECEMBER 31, 1982 2-Year Notes 4-Year Notes T o the p u b lic ........................................ .........$7,000 million $5,000 million Amount Offered: Description of Security: Term and type o f security................... .........2-year notes 4-year notes Series and CUSIP designation........... .........Series Z - 1984 (CUSIP No. 912827 NY4) Series K -1986 (CUSIP No. 912827 NZ1) Maturity date......................................... .........December 31, 1984 December 31,1986 Call date................................................. .........No provision No provision Interest rate ......................................... .........T o be determined, based on the average o f accepted bids To 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 Premium or d is co u n t.......................... .........T o be determined after auction T o be determined after auction Interest payment d a te s ....................... .........June 30 and December 31 June 30 and December 31 Minimum denomination available .. .........$5,000 $1,000 Terms of Sale: Method o f sale...................................... ___ Yield auction Competitive ten ders............................ . . . . Must be expressed as an annual yield, with two decimals, e.g., 7.10% Noncompetitive tenders..................... ___ Accepted in full at the average price up to $1,000,000 Accrued interest payable by investor. . . . . None Payment by noninstitutional investors................... Deposit guarantee by designated institutions...................................... . . . . Full payment to be submitted with tender ___ Acceptable Yield auction Must be expressed as an annual yield, with two decimals, e.g., 7.10% Accepted in full at the average price up to $1,000,000 None Full payment to be submitted with tender Acceptable Key Dates: Deadline for receipt o f tenders........... . . . . Wednesday, December 1 5,1982, by 1:30 p .m ., EST Settlement date (final payment due from institutions) a) cash or Federal funds................... ----- Friday, December 31, 1982 b) readily collectible check............... . . . . Tuesday, December 28, 1982 Delivery date for coupon securities.. . . . . Friday, January 14, 1983 Thursday, December 16, 1982, by 1:30 p .m ., EST Friday, December 31, 1982 Tuesday, December 28, 1982 Monday, January 17,1983 1
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