The Treasury Department Thursday auctioned $13 billion of 29-year, 10-month bonds with a 3 7/8% coupon at a 3.852% high yield and a price of 100.397647.

The bid-to-cover ratio was 2.49. Tenders at the high yield were allotted 21.59%. The median yield was 3.782% and the low yield was 3.700%. Tenders totaled $32,339,462,300 and the Treasury accepted $13,000,006,300, including $12,112,300 of noncompetitive.

Federal Reserve banks also bought $114,242,400 for their own accounts in exchange for maturing securities. The bonds, dated Aug. 15, will mature Aug. 15, 2040.

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