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A u c t i o n Date: D e c e m b e r 30, 1980 RESULTS OF AUCTION OF 7-YEAR NOTES The Department of the Treasury has accepted $ 2,502 million of $ 6,309 million of tenders received from the public for the 7-year notes, Series C-1988, auctioned today. The interest coupon rate on the notes will be 12-3/8%. The range of accepted competitive bids, and the corresponding prices at the 12-3/8% coupon rate are as follows: Lowest yield Highest yield Average yield Bids 1235% 12.50% 12.49% Prices 99.957 99.407 99.453 Tenders at the high yield were allotted 88%. TENDERS RECEIVED AND ACCEPTED (In thousands) Location Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City •Dallas San Francisco Treasury Totals Received $ . 26,175 5,400,777 7,582 113,370 24,258 18,086 383,819 51,232 14,828 30,455 1,851 235,609 712 Accepted 5 9,175 2,029,272 7,582 67,770 4,258 17,086 185,104 44,912 12,828 28,455 1,801 93,039 712 $6,308,754 $2,501,994 The $ 2,502 million of accepted tenders includes $ 344 million of noncompetitive tenders and $2,158 million of competitive tenders from private investors. In addition to the $2,502 million of tenders accepted in the auction process, $ 200 million of tenders were accepted at the average price from Federal Reserve Banks as agents for foreign and international monetary authorities for new cash. Federal Reserve Bank of New York [Ref. Cir. No. 8978]
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