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Federal R eserve N ew Y o r k , N.Y. AREA F is c a l for the Ba n k of CODE N ew Yo r k 10045 212 7 3 2 - 5 7 0 0 A g e n t o f t h e Un i t e d S t a t e s T e n n e s s e e Va l l e y A u t h o r i t y July 29, 1969 Results of Bidding for TVA Power Notes To Certain Commercial Banks, Trust Companies, and Dealers in Investment Securities: The following statement was authorized b y the Tennessee Valley Authority for issuance today, announcing the auction results of its recent offering of Power N o t e s : The Tennessee Valley Authority sold at auction today $90 million par value of 120-day discount notes at an average price of 97*304, which results in a rate of discount of 8 . 0 8 8 percent per annum on a 3 6 0 -day basis. The notes are dated July 31> 19&9 and mature on November 28, 1969* Accepted bids ranged from a high price of 97-307 (8.079 percent discount) to a low of 97-301 (8.097 percent discount). About 22 percent of the total amount bid for at the low price was accepted. Total bids received were $406 million, of which $90 million were accepted. Alfred Hayes, President
@FedFRASER