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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal A gent o f the U n ited States
Circular No. 9584
November 18, 1983

TREASURY TO AUCTION $8,000 MILLION OF 2-YEAR 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 $8,000 million of 2-year notes to refund $4,797 million of
2-year notes maturing November 30, 1983, and to raise $3,200 million new cash. The $4,797 million of maturing
2-year notes are those held by the public, including $700 million currently held by Federal Reserve Banks as
agents for foreign and international monetary authorities.

The Treasury may alter the size or timing o f this auction unless it has assurance o f Congressional action on
legislation to raise the statutory debt limit before the scheduled auction date o f November 22, 1983.
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 $696 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 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. N o.
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 prior to 1:30 p.m ., Eastern Standard time, Tuesday, November 22, 1983,
at the Securities Department o f its Head Office 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 noncom petitive 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

November 21.
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 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 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.




ANTHONY M. SOLOMON,

President.

(Over)

HIGHLIGHTS OF TREASURY
OFFERING TO THE PUBLIC
OF 2-YEAR NOTES
TO BE ISSUED NOVEMBER 30, 1983

A m ou n t O ffered:

To the p u b lic.....................................................................................................

$8,000 million

D escription o f Security:

Term and type of security................................................................................. 2-year notes
Series and CUSIP designation......................................................................... Series AB-1985
(CUSIP No. 912827 QE5)
Maturity date.....................................................................................................

November 30, 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..................................................................................... May 31 and November 30
Minimum denomination available..................................................................

$5,000

Term s o f 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 paym ent to be subm itted
w ith tender

Deposit guarantee by designated institutions................................................

Acceptable

Key D ates:
Deadline for receipt of tenders......................................................................... Tuesday, November 22, 1983,
prior to 1:30 p.m., EST
Settlement date (final payment due from institutions)
a) cash or Federal funds............................................................................... Wednesday, November 30, 1983
b) readily collectible check........................................................................... Monday, November 28, 1983