The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular N o. 9640 February 16, 1984 TREASURY TO AUCTION $8,250 MILLION OF 2-YEAR NOTES T o A l l B a n k in g I n s titu tio n s , a n d O th e r s C o n c e rn e d , in th e S e c o n d F e d e ra l R e s e r v e D is tr ic t: The following statement was issued by the Treasury Department: The D epartm ent of the Treasury will auction $8,250 million of 2-year notes to refund $5,289 million of 2-year notes m aturing February 29, 1984, and to raise $2,950 million new cash. The $5,289 million of m aturing 2-year notes are those held by the public, including $661 million currently held by Federal Reserve Banks as agents for foreign and international m onetary authorities. The $8,250 million is being offered to the public, and any am ounts tendered by Federal Reserve Banks as agents for foreign and international m onetary authorities will be added to that am ount. Tenders for such accounts will be accepted at the average price o f accepted competitive tenders. In addition to the public holdings, Government accounts and Federal Reserve Banks, for their own accounts, hold $661 million of the m aturing securities that may be refunded by issuing additional am ounts 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. No. 212-791-6619). Enclosed is a copy o f a standard form for your use in submitting tenders for this offering. This Bank will receive tenders prior to 1:30 p.m ., Eastern Standard time, Wednesday, February 22, 1984, at the Securities Department o f its Head Office and at its Buffalo Branch. A l l c o m p e titiv e 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 n o n c o m p e titiv e tenders will be considered timely received if they are mailed to this Bank or its Branch under a postmark n o later than F eb ru a ry 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; c h e cks e n d o rse d to this B a n k will n o t 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. No. 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 Office, Tel. N o. 212-791-6619, or, at the Buffalo Branch, Tel. N o. 716-849-5016. A n t h o n y m . So l o m o n , P resident. (Over) H IG H LIG H TS OF TREASURY OFFERING TO TH E PUBLIC OF 2-YEAR NOTES TO BE ISSUED FEBRUARY 29, 1984 A m ount Offered: To the p u b lic .............................................................. $8,250 million Description of Security: Term and type of security........................................ 2-year notes Series and CUSIP designation................................ Series R-1986 (CUSIP No. 912827 QM7) M aturity d a te .............................................................. February 28,1986 Call d a t e ...................................................................... No provision Interest r a t e ................................................................ To be determined, based on the average of accepted bids Investment yield......................................................... To be determined at auction Prem ium or discount................................................ To be determined after auction Interest payment d a t e s ............................................. August 31 and February 28 Minimum denom ination available......................... $5,000 Terms of Sale: M ethod of s a le ........................................................... Yield auction Competitive tenders ............................................... Must be expressed as an annual yield, with two decimals, e.g., 7.10*70 Noncompetitive te n d e r s ......................................... Accepted in full at the average price up to $ 1,000,000 Accrued interest payable by investor................... None Paym ent by non-institutional in v e s to rs ............. Full paym ent to be subm itted with tender Deposit guarantee by designated institutions Acceptable Key Dates: Receipt of te n d e r s ................................................... Settlement (final paym ent due from institutions) a) cash or Federal fu n d s.................................... b) readily collectible check................................ W ednesday, February 22, 1984, prior to 1:30 p.m ., EST W ednesday, February 29, 1984 M onday, February 27, 1984
@FedFRASER