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FEDERAL [RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 9481 April 14, 1983 [ ■] TREASURY TO AUCTION $7975© 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 $7,750 million of 2-year notes to refund $4,244 million of 2-year notes maturing April 30, 1983, and to raise $3,506 million new cash. The $4,244 million of maturing 2-year notes are those held by the public, including $460 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 $460 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 $342 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, April 20, 1983, at the Securities Department of iis Head Office and at its Buffalo Branch. 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. 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 n o n c o m p e t i t i v e tenders will be considered timely received if they are mailed to this Bank or its Branch under a postmark n o l a t e r t h a n A p r il 19. 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 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, P r es id e n t. (Over) H IG H LIG H TS OF TREASURY OFFERING TO TH E PUBLIC OF 2-YEAR NOTES TO BE ISSUED MAY 2, 1983 Amount Offered: To the p u b lic.............................................................................................. . $7,750 million Description off Security: Term and type of security........................................................................... . 2-year notes Series and CUSIP designation................................................................... . Series T-1985 (CUSIP No. 912827 PK2) Maturity d ate.............................................................................................. . April 30, 1985 Call d a te ...................................................................................................... . 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 ............................................................................... . October 31 and April 30 Minimum denomination available............................................................. . $5,000 Terms off 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................................................................... . Wednesday, April 20, 1983, by 1:30p.m., EST Settlement date (final payment due from institutions) a) cash or Federal funds......................................................................... . Monday, May 2, 1983 b) readily collectible check.......................................... .......................... . Thursday, April 28, 1983
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