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FEDERAL RESERVE BANK OF NEW YORK F iscal A gen t o f the U n ited States TREASURY TO AUCTION $8,000 MILLION OF 2-YEAR NOTES To All Banking Institutions, and Others Concerned, in the Second Federal Reserve District: T he follow in g statem ent was issued by the Treasury Departm ent: The Department of the Treasury will auction $8,000 million of 2-year notes to refund $4,834 million of 2-year notes maturing October 31, 1983, and to raise $3,200 million new cash. The $4,834 million of maturing 2-year notes are those held by the public, including $1,449 million currently held by Federal Reserve Banks as agents for foreign and international monetary authorities. The $8,000 million is being offered to the public, and any amounts tendered by Federal Reserve Banks 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. In addition to the public holdings, Government accounts and Federal Reserve Banks, for their own accounts, hold $636 million of the maturing securities that may be refunded by issuing additional amounts of the new notes at the average price of accepted competitive tenders. Printed on the reverse side is a table sum m arizing the highlights o f the offerin g. C opies o f the officia l offerin g circular will be furnished up on request directed to our G overnm ent B ond D ivision (Tel. N o . 212-791-6619). E nclosed is a cop y o f a standard form for your use in subm itting tenders for this offering (or for any subsequent offerin g o f 2-year notes). This Bank will receive tenders prior to 1:30 p .m ., Eastern Daylight Saving tim e, W ednesday, O ctober 19, 1983, at the Securities D epartm ent o f its H ead O ffice and at its B u ffalo Branch. A ll competitive tenders, whether transm itted by mail or by other m eans, m ust reach this Bank or its Branch by that tim e. H ow ever, for investors w h o wish to subm it n oncom petitive tenders and w h o find it m ore convenient to m ail their tenders than to present them in person, the official offerin g circular provides that noncompetitive tenders will be considered tim ely received if they are m ailed to this Bank or its Branch under a postm ark no later than October 18. Bidders subm itting noncom petitive tenders should realize that it is possible that the average price m ay be above par, in which case they w ould have to pay m ore than the face value for the securities. P aym ent with a tender m ay be in the form o f a personal check, w hich need not be certified, an o fficia l bank check, or a Federal funds check (a check drawn by a depository institution on its Federal Reserve account). A ll checks m ust be drawn payable to the Federal Reserve Bank o f N ew York; checks endorsed to this Bank will not be accepted. P aym ent m ay also be m ade in cash or in Treasury securities m aturing on or b efore the issue date o f the securities being purchased. R ecorded m essages provide inform ation about Treasury offerings and about auction results: at the H ead O ffice — Tel. N o . 212-791-7773 (offerings) and T el. N o . 212-791-5823 (results); at the B u ffalo Branch — T el. N o . 716-849-5046. A d ditional inquiries regarding this offerin g m ay be m ade by calling, at the H ead O ffice, Tel. N o . 212-791-6619, or, at the B u ffalo Branch, Tel. N o . 716-849-5016. A n t h o n y M . So l o m o n , President. (Over) HIGHLIGHTS OF TREASURY OFFERING TO THE PUBLIC OF 2-YEAR NOTES TO BE ISSUED OCTOBER 31, 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 Z-1985 (CUSIP No. 912827 QB1) Maturity date................................ October 31, 1985 Call d ate......................................... No provision Interest r a te .................................. 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................ April 30 and October 31 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 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 payment to be submitted with tender Deposit guarantee by designated institutions.............. Acceptable ■-77? Key Dates: Deadline for receipt of tenders...................................... Settlement date (final payment due from institutions) a) cash or Federal funds............................................ b) readily collectible check........................................ Wednesday, October 19,1983, prior to 1:30 p.m., EDST Monday, October 31, 1983 Thursday, October 27, 1983 -,j
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