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Ar 6Zsp Federal R eserve N ew Ba n k of York, N.Y. N ew Yo r k 10045 AREA CODE 212 7 3 2 - 5 7 0 0 F is c a l fo r the A gent of the Tennessee Un i t e d Va l l e y States Au t h o r i t y May 25, 1971 Results of Bidding for TVA Power Notes To Certain Commercial Banks, Trust Companies, and Dealers in Investment Securities: The following statement was authorized "by the Tennessee Valley Authority for issuance today, announcing the auction results of its recent offering of Power Notes: The Tennessee Valley Authority sold at auction today $190 million par value of 126-day discount notes at an average price of 98.281, which results in a rate of discount of 4.911 percent per annum on a 360-day basis. The notes are dated May 27, 1971 and mature on September 30, 1971* Accepted bids ranged from a high price of 98.295 (4.871 percent discount) to a low of 98.278 (4.920 percent discount). Approximately 82 percent of the total amount bid for at the low price was accepted. Total bids received were $731 million, of which $190 million were accepted. Alfred Hayes, President.
@FedFRASER