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FEDERAL RESERVE BANK OF NEW YORK F isc a l A g e n t o f th e U n ite d S ta tes Circular No. 9542 August 24, 1983 TREASURY TO AUCTION $6,000 MILLION OF 5-YEAR 2-MONTH NOTES To All 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 $6,000 million of 5-year 2-month notes to raise new cash. Additional amounts of the notes may be issued to Federal Reserve Banks as agents for foreign and international monetary authorities 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). In addition, enclosed is a copy o f the form to be used in submitting tenders. This Bank will receive tenders up to 1:30 p.m ., Eastern Daylight Saving time, Wednesday, August 31, 1983, at the Securities Department o f its Head Office and at its Buffalo Branch. All 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 August 30. 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. N o. 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 5-YEAR 2-MONTH NOTES TO BE ISSUED SEPTEMBER 6, 1983 A m ou nt O ffered: To the p u b lic................................................................................................. $6,000 million D escription o f Security: Term and type of security............................................................................. 5-year 2-month notes Series and CUSIP designation...................................................................... Series K-1988 (CUSIP No. 912827 PX4) Maturity d ate................................................................................................. November 15, 1988 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 ................................................................................. May 15 and November 15 (first payment on May 15, 1984) Minimum denomination available................................................................ $1,000 Term s o f Sale: Method of sale.............................................................................................. Yield auction Competitive ten d ers..................................................................................... Must be expressed as an annual yield, with two decimals, e.g., 7.10% Noncompetitive tenders............................................................................... Accepted in full at the average price up to $1,000,000 Accrued interest payable by investor............................................................ None Payment by non-institutional investors...................................................... Full paym ent to be subm itted w ith tender Deposit guarantee by designated institutions.............................................. Acceptable Key D ates: Deadline for receipt of tenders..................................................................... Settlement date (final payment due from institutions) a) cash or Federal funds........................................................................... b) readily collectible check....................................................................... Wednesday, August 31, 1983, by 1:30 p.m., EDST Tuesday, September 6, 1983 Friday, September 2, 1983
@FedFRASER