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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 9487 April 28, 1983 TREASURY ANNOUNCES MAY QUARTERLY FINANCING To A ll Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following is quoted from a statement issued by the Treasury Department: The Treasury will raise about $9,800 million of new cash and refund $5,216 million of securities maturing May 15, 1983, by issuing $6,500 million of 3-year notes, $4,750 million of 10-year notes, and $3,750 million of 29V2-year bonds. The $5,216 million of maturing securities are those held by the public, including $658 million held, as of April 27, 1983, by Federal Reserve Banks as agents for foreign and international monetary authorities. The three issues totaling $15,000 million are being offered to the public, and any amounts tendered by Federal Reserve Banks as agents for foreign and international monetary authorities (including the $658 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 $975 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. Please note that the auction of reopened 10%% Treasury Bonds of 2007-2012 scheduled for Thursday. May 5, 1983, will be on a yield basis. Therefore, to avoid original issue discount, 11.22% is the highest yield that will be accepted by the Treasury Department in that auction. Printed on the reverse side is a table summarizing the highlights of the offerings. Copies of the official offering circulars will be furnished upon request directed to our Government Bond Division (Tel. No. 212-791-6619). In addition, enclosed are copies of the forms to be used in submitting tenders. This Bank will receive tenders at the Securities Department of its Head Office and at its Buffalo Branch on the dates and times specified on the reverse side of this circular as the deadlines for receipt of tenders. 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 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 cir cular for each offering 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 no later than the date preceding the date specified for receipt of 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 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. A ntho ny m . So l o m o n , P r es id e n t. (Over) HIGHLIGHTS OF TREASURY OFFERINGS TO THE PUBLIC MAY 1983 FINANCING SECURITIES TO BE ISSUED MAY 16, 1983 3-Year Notes 10-Year Notes 29 Vi-Year Bonds $6,500 million $4,750 million $3,750 million 10-year notes 29 Vi-year bonds Series and CUSIP designation... . .. Series M-1986 (CUSIP No. 912827 PL0) Series B-1993 (CUSIP No. 912827 PM8) Bonds of 2007-2012 (CUSIP No. 912810 DB1) Maturity d a te ............................ ...M ay 15, 1986 May 15, 1993 November 15, 2012 Call date...................................... . . . No provision No provision November 15, 2007 Interest rate...................................... To be determined, based on the average of accepted bids To be determined, based on the average of accepted bids 10%% Investment yield .............................. To be determined at auction To be determined at auction To be determined at auction Premium or discount.......................To be determined after auction To be determined after auction To be determined after auction Interest payment dates..................... November 15 and May 15 November 15 and May 15 November 15 and May 15 Minimum denomination available .. $5,000 $1,000 $1,000 Yield auction Yield auction Amount Offered: To the public .. Description of Security: Term and type of security......... . .. 3-year notes Terms of Sale: Method of s a le ................................ Yield auction Competitive tenders......................... Must be expressed as an annual Must be expressed as an annual Must be expressed as an annual yield, with two decimals, e.g., 7.10% yield, with two decimals, e.g., 7.10% yield, with two decimals, e.g., 7.10% Noncompetitive tenders................... Accepted in full at the average price up to $1,000,000 Accepted in full at the average price up to $1,000,000 Accepted in full at the average price up to $1,000,000 Accrued interest payable by investor .. None None $.28193 per $1,000 (from May 15,1983, to May 16, 1983) 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, May 4,1983, by 1:30 p.m., EDST Thursday, May 5,1983, by 1:30 p.m., EDST Monday, May 16, 1983 Monday, May 16, 1983 Thursday, May 12, 1983 Thursday, May 12, 1983 Key Dates: Deadline for receipt of tenders........Tuesday, May 3,1983, by 1:30 p.m., EDST Settlement date (final payment due from institutions) a) cash or Federal funds . . . . . . . . Monday, May 16, 1983 b) readily collectible check Thursday, May 12, 1983