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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent o f the United States Circular No. 9503 May 27, 1983 TREASURY RESCHEDULES OFFERING OF 2-YEAR AND 5-YEAR 2-MONTH NOTES TOTALING $13,500 MILLION To A ll Banking Institutions, and Others Concerned, in the Second Federal Reserve District: F o l l o w i n g is t h e t e x t o f a s t a t e m e n t is s u e d b y t h e T r e a s u r y D e p a r t m e n t : In its original offering o f May 18, the Department o f the Treasury announced that $7,750 million o f 2-year notes would be auctioned Tuesday, May 24, 1983 and issued Tuesday, May 31, 1983, and that $5,750 million of 5-year 2-month notes would be auctioned Wednesday, May 25, 1983, and issued Wednesday, June 1, 1983. The Treasury hereby amends its original offering announcement to provide that the 2-year notes will be auctioned Thursday, May 26, and issued Tuesday, May 31, 1983, and that the 5-year 2-month notes will be auctioned W ednesday, June 1, and issued Friday, June 3, 1983. The $13,500 million is being offered to the public, and any amounts tendered by Federal Reserve Banks as agents for foreign and international monetary authorities (including $648 million o f maturing 2-year notes held for those authorities) will be added to that amount. In addition to the public holdings o f $4,238 million o f maturing 2-year notes, Government accounts and Federal Reserve Banks, for their own accounts, hold $525 million o f the maturing securities that may be refund ed by issuing additional amounts o f the new notes at the average price o f accepted competitive tenders. A c c o r d in g ly , th e 2 -y e a r n o t e s w e r e a u c t io n e d y e s te r d a y a n d th e 5 -y e a r 2 - m o n t h n o t e s w ill b e a u c t io n e d o n W e d n e s d a y , J u n e 1. T h is B a n k w ill c o n t in u e t o a c c e p t te n d e r s fo r th e 5 -y e a r 2 - m o n t h n o t e o f f e r in g u n til 1 :3 0 p .m . o n J u n e 1. N o n c o m p e t i t iv e t e n d e r s t h a t a r e m a ile d t o th is B a n k u n d e r a p o s t m a r k n o la te r th a n M a y 31 w ill a ls o b e a c c e p t e d . S u b s c r ib e r s w h o w is h t o w ith d r a w te n d e r s s u b m it t e d o n o r b e f o r e M a y 2 5 w ill b e p e r m i t t e d t o d o s o u p t o t h e r e s c h e d u l e d a u c t i o n ( 1 : 3 0 p . m . , J u n e 1 ). 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 c o n t a i n i n g t h e h ig h l ig h t s o f t h e r e s c h e d u l e d o f f e r i n g o f t h e 5 - y e a r 2 -m o n th n o te s. R ecorded H ead O ffic e B ranch — m e s s a g e s p r o v id e in f o r m a t io n — T e l. N o. 2 1 2 -7 9 1 -7 7 7 3 a b o u t T r e a su r y o ffe r in g s a n d (o ffe r in g s ) and T e l. N o. a b o u t a u c t io n r e s u lts : a t th e 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 . ANTHONY M . SOLOMON, President. (O v e r ) H IG H LIG H TS OF TREASURY RESCHEDULED OFFERING TO TH E PUBLIC OF 5-YEAR 2-M ONTH NOTES A m ount Offered: To the p u b lic ............................................................................................................... $5,750 million Description o f Security: Term and type o f security......................................................................................... 5-year 2-month notes Series and CUSIP d esig n a tio n ................................................................................ Series J-1988 (CUSIP N o. 912827 PP1) Issue d a t e ...................................................................................................................... June 3,1983 Maturity d a te ............................................................................................................... August 15, 1988 Call d a t e ........................................................................................................................ N o provision Interest r a t e ................................................................................................................. To be determined, based on the average o f accepted bids Investment y ield ........................................................................................................... To be determined at auction Premium or discount.................................................................................................. To be determined after auction Interest payment d a t e s ............................................................................................. February 15 and August 15 (first payment on February 15, 1984) Minimum denom ination available......................................................................... $1,000 Terms o f Sale: M ethod o f s a le ............................................................................................................ Yield auction Competitive tenders .................................................................................................. Must be expressed as an annual yield, with two decimals, e.g ., 7.10% Noncom petitive te n d e r s........................................................................................... 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 in stitutions..................................................... Acceptable 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.................................................................................. Wednesday, June 1, 1983, by 1:30 p .m ., EDST Friday, June 3, 1983 Thursday, June 2, 1983