The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BAMK OF WEW YORK Fiscal Agent of the United States [""Circular No. 9465 I j_ March 1 , 1983 _J 0 TREASURY TO AUCTION $7,750 MILLION OF 2-YEAR NOTES To A ll Banking Institutions, and Others Concerned, in the Second Federal Reserve District: T h e f o llo w in g s t a te m e n t w a s is s u e d b y th e T r e a s u r y D e p a r tm e n t: The Department of the Treasury will auction $7,750 million of 2-year notes to refund $4,695 million of 2-year notes maturing March 31, 1983, and to raise $3,055 million new cash. The $4,695 million of maturing 2-year notes are those held by the public, including $1,202 million currently held by Federal Reserve Banks as agents for foreign and international monetary authorities. The $7,750 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 $1,202 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 $888 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. P r in t e d o n t h e r e v e r s e s id e is a t a b l e s u m m a r iz i n g t h e h ig h l ig h t s o f t h e o f f e r i n g . C o p i e s o f t h e o f f i c i a l o ffe r in g c ir c u la r w ill b e fu r n is h e d upon r e q u e s t d ir e c t e d to our G overnm ent B ond D iv is io n (T e l. N o. 2 1 2 -7 9 1 -6 6 1 9 ). E n c l o s e d is a c o p y o f a s t a n d a r d f o r m f o r y o u r u s e in s u b m it t in g te n d e r s f o r t h is o f f e r in g (o r f o r a n y s u b s e q u e n t o ffe r in g o f 2 -y e a r n o te s ). T h is B a n k w ill r e c e iv e te n d e r s u p t o 1 :3 0 p .m ., E a s te r n S ta n d a r d tim e , W e d n e s d a y , M a r c h 1 6 , 1 9 8 3 , a t t h e S e c u r it ie s D e p a r t m e n t o f its H e a d O f f ic e a n d a t its B u f f a l o B r a n c h . A ll competitive tenders, tr a n s m it t e d b y m a il o r b y o t h e r m e a n s , m u s t r e a c h th is B a n k o r it s B r a n c h b y t h a t t im e . w h e th e r H o w e v e r , fo r in v e s t o r s w h o w is h t o s u b m it n o n c o m p e t it iv e te n d e r s a n d w h o f in d it m o r e c o n v e n ie n t t o m a il th e ir te n d e r s th a n to p r e se n t th e m in p e r s o n , th e o f f ic ia l o f f e r in g c ir c u la r p r o v id e s t h a t noncom petitive te n d e r s w ill b e c o n s id e r e d t im e ly r e c e iv e d i f t h e y a r e m a ile d t o th is B a n k o r its B r a n c h u n d e r a p o s t m a r k no later than March 15. B id d e r s s u b m it t in g n o n c o m p e t i t i v e t e n d e r s s h o u l d r e a liz e t h a t it is p o s s i b l e t h a t t h e a v e r a g e p r ic e m a y b e a b o v e p a r , in w h ic h c a s e t h e y w o u ld h a v e t o p a y m o r e th a n th e f a c e v a lu e f o r t h e s e c u r it ie s . P a y m e n t w it h a t e n d e r m a y b e in t h e f o r m o f a p e r s o n a l c h e c k , w h ic h n e e d n o t b e c e r t if ie d , a n o f f ic ia l b a n k c h e c k , o r a F ed era l fu n d s ch eck (a c h e c k d r a w n b y a d e p o s it o r y in s t it u t io n o n its F e d e r a l R e s e r v e a c c o u n t ) . A ll c h e c k s m u s t b e d r a w n p a y a b le t o th e F e d e r a l R e s e r v e B a n k o f N e w Y o r k ; this B ank will not be accepted. checks endorsed to P a y m e n t m a y a ls o b e m a d e in c a s h o r in T r e a s u r y s e c u r itie s m a t u r in g o n o r b e f o r e th e is s u e d a te o f th e s e c u r itie s b e in g p u r c h a s e d . R e c o r d e d m e s s a g e s p r o v id e in f o r m a tio n H ead O ffic e B ranch — — T eh N o. 2 1 2 -7 9 1 -7 7 7 3 a b o u t T r e a s u r y o f f e r in g s a n d a b o u t a u c t io n r e s u lts : a t th e (o ffe r in g s ) a n d T e l. N o. 2 1 2 -7 9 1 -5 8 2 3 (r e s u lts ); a t th e B u ffa lo T e l. N o . 7 1 6 - 8 4 9 - 5 0 4 6 . A d d it io n a l in q u ir ie s r e g a r d in g th is o f f e r in g m a y b e m a d e b y c a llin g , a t th e H e a d O f f ic e , T e l. N o . 2 1 2 -7 9 1 - 6 6 1 9 , o r , a t th e B u f f a lo B r a n c h , T e l. N o . 7 1 6 -8 4 9 - 5 0 1 6 . A n tho ny M. So l o m o n , President. (Over) HIGHLIGHTS OF TREASURY OFFERING TO THE PUBLIC OF 2-YEAR NOTES TO BE ISSUED MARCH 31, 1983 Amount Offered! To the p u b lic...................................... ....................... $7,750 million Description of Security: Term and type of security............................................ 2-year notes Series and CUSIP designation.................................. . Series S-1985 (CUSIP No. 912827 PG1) Maturity d ate............................................................. . March 31, 1985 Call d ate..................................................................... . No provision Interest r a t e ................................................................. To be determined, based on the average of accepted bids Investment yield........................................................... To be determined at auction Premium or discount................................................... To be determined after auction Interest payment d a te s .............................................. . September 30 and March 31 Minimum denomination available.............................. $5,000 Terms of Sale: Method of sale........................................................... . Yield auction Competitive tenders .................................................. Must be expressed as an annual yield, with two decimals, e.g., 7.10% Noncompetitive ten d ers............................................ Accepted in full at the average price up to $ 1,000,000 Accrued interest payable by investor........................... None Payment by non-institutional investors..................... Full payment to be submitted with tender Deposit guarantee by designated institutions............. Acceptable Key Dates: Deadline for receipt of tenders.................................... Settlement date (final payment due from institutions) a) cash or Federal funds.......................................... b) readily collectible check....................................... Wednesday, March 16, 1983, by 1:30 p.m., EST Thursday, March 31,1983 Tuesday, March 29, 1983
@FedFRASER