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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 9508 June 9, 1983 TREASURY TO AUCTION $8,000 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 $8,000 million of 2-year notes to be issued June 30, 1983. This issue will provide about $3,900 million new cash, as the maturing 2-year notes held by the public amount to $4,117 million, including $520 million currently held by Federal Reserve Banks as agents for foreign and interna tional monetary authorities. In addition to the maturing 2-year notes, there are $2,697 million of maturing 4-year notes held by the public. The disposition of this latter amount will be announced next week. Federal Reserve Banks, as agents for foreign and international monetary authorities currently hold $564 million, and Government accounts and Federal Reserve Banks for their own account hold $916 million of maturing 2-year and 4-year notes. The $8,000 million is being offered to the public, and any amounts tendered by Federal Reserve Banks for their own accounts, or as agents for foreign and international monetary authorities, will be added to that amount. Tenders for such accounts will be accepted at the average price of accepted competitive tenders. Printed on the reverse side is a table summarizing the highlights o f the offering. Copies o f the official offering circular will be furnished upon request directed to our Government Bond Division (Tel. No. 212-791-6619). Enclosed is a copy o f a standard form for your use in submitting tenders for this offering (or for any subsequent offering o f 2-year notes). This Bank will receive tenders up to 1:30 p.m ., Eastern Daylight Saving time, Wednesday, June 15, 1983, at the Securities Department o f its Head O ffice and at its Buffalo Branch. A ll competitive tenders, 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 noncompetitive tenders will be considered timely received if they are mailed to this Bank or its Branch under a postmark no later than June 14. 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; checks endorsed to this Bank will not be accepted. 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 Office — 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 this offering 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 ntho ny M. So l o m o n , President. (Over) HIGHLIGHTS OF TREASURY OFFERING TO THE PUBLIC OF 2-YEAR NOTES TO BE ISSUED JUNE 30, 1983 Amount Offered: To the public $8,000 million Description of Security: Term and type of security............ 2-year notes Series and CUSIP designation . . . Series V-1985 (CUSIP No. 912827 PQ9) Maturity d ate............................... June 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 ................ December 31 and June 30 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, June 15, 1983, by 1:30 p.m., EDST Thursday, June 30, 1983 Tuesday, June 28, 1983
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