"Morgan Stanley & Co. and The First Boston Corporation as managers of a nationwide underwriting group, announce the public offering of $150,000,000 International Bank for Reconstruction and Development (World Bank) twenty-six year 6-1/2 per cent bonds of 1968, due March 15, 1994, at 99-1/2 per cent to yield 6.54 per cent.
"The bonds are not redeemable prior to September 15, 1980. They are redeemable on or after September 15, 1980 at the option of the Bank as a whole or in part at any time at 101-1/2 per cent to and including March 14, 1984 and at decreasing prices thereafter; and through operations of the sinking fund at 100 per cent, together in each case with accrued interest.
"The net proceeds to the Bank of the sale of the bonds to the underwriters and under the contracts for delayed delivery will be used in the general operations of the Bank.
"The bonds being offered are not subject to the Interest Equalization Tax Furthermore, the revised 1968 “Guidelines for Nonbank Financial Institutions", issued by the Federal Reserve System on January 1, 1968, place no restraint on purchases of the bonds. Thus, no guideline restrictions affect purchases by nonbank financial institutions, including trust companies or trust departments of commercial banks."