The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States rcular No. 9499 I May 19, 1983 __ | P TREASURY ANNOUNCES NOTE OFFERINGS TOTALING $13,500 MILLION To All 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 $9,262 million o f new cash by issuing $7,750 million o f 2-year notes, and $5,750 m illion o f 5-year 2-month notes. This offering will also refund $4,238 million o f 2-year notes maturing May 31, 1983. The $4,238 million o f maturing 2-year notes are those held by the public, including $648 million currently held by Federal Reserve Banks as agents for foreign and international monetary authorities. The $13,500 m illion is being offered to the public, and any amounts tendered by Federal Reserve Banks as agents for foreign and international monetary authorities (including the $648 million o f maturing 2-year notes) will be added to that amount. In addition to the public holdings, Government accounts and Federal Reserve Banks, for their own accounts, hold $525 m illion o f the maturing securities that may be refunded by issuing additional amounts o f the new notes at the average prices o f accepted competitive tenders. The Treasury will postpone the 2-year and 5-year 2-month note auctions unless it has assurance o f Congres sional action on legislation to raise the temporary debt ceiling before the scheduled auction dates o f May 24 and May 25, 1983, respectively. 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. No. 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 on the dates and times specified on the reverse side o f this circular as the deadlines for receipt o f tenders. A ll 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 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 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 o f the securities being purchased. Recorded messages provide information about Treasury offerings and about auction results: at the Head O ffice — Tel. N o. 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. No. 212-791-6619, or, at the Buffalo Branch, Tel. N o. 716-849-5016. A n t h o n y M. S o l o m o n , P r e s id e n t. (Over) HIGHLIGHTS OF TREASURY OFFERINGS TO THE PUBLIC 2-Year Notes 5-Year 2-Month Notes $7,750 million $5,750 million Term and type o f secu rity................. 2-year notes 5-year 2-month notes Series and CUSIP designation........... Series U-1985 (CUSIP No. 912827 PN6) Series J-1988 (CUSIP No. 912827 PP1) Issue D a t e ............... ............................. May 31, 1983 June 1,1983 Maturity d a t e ....................................... May 31, 1985 August 15, 1988 Call date.................................................. No provision No provision Interest rate........................................... To 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 ................................... To be determined at auction To be determined at auction Premium or d iscou n t.......................... To be determined after auction To be determined after auction Interest payment d ates........................ November 30 and May 31 February 15 and August 15 (first payment on February 15, 1984) Minimum denomination available .. $5,000 $1,000 Method o f s a l e ..................................... Yield auction Yield auction Competitive tenders............................ 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% 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 Accrued interest payable by investor .. None None Full payment to be submitted with tender Full payment to be submitted with tender Acceptable Acceptable Tuesday, May 24,1983, by 1:30 p.m., EDST Wednesday, May 25,1983, by 1:30 p.m., EDST Tuesday, May 31,1983 Wednesday, June 1, 1983 Thursday, May 26, 1983 Friday, May 27, 1983 Amount Offered: To the pu blic......................................... Description of Security: Terms of Sale: Payment by non-institutional investors........................................... Deposit guarantee by designated institutions....................................... Key Dates: Deadline for receipt o f tenders......... Settlement date (final payment due from institutions) a) cash or Federal fu n d s ............... b) readily collectible check
@FedFRASER