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/) T 7 ^ 7 7 FEDERAL RESERVE BANK OF NEW YORK F i s c a l Agent o f th e U nited S ta te s for th e T e n n e s s e e V a lle y Authority November 2 7 , 1973 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 T e n n e s s e e V a l l e y A u t h o r i t y s o l d a t a u c t i o n t o d a y $80 m i l l i o n p a r v a lu e o f 1 1 9 -d a y d i s c o u n t n o t e s a t an a v e r a g e p r i c e o f 9 7 * 3 3 5 , w h ich r e s u l t s in a r a t e o f d is c o u n t o f 8 .0 6 2 p e r ce n t p er annum on a 3 6 0 -d a y b a s i s . The n o t e s a r e d a t e d November 2 9 , 1973 and m a tu re on March 2 8 , 197*+• A c c e p t e d b i d s r a n g e d fro m a h ig h p r i c e o f 9 7 *3 5 3 d i s c o u n t ) t o a lo w o f 9 7 *3 2 3 ( 8 .0 9 8 p e r c e n t d i s c o u n t ) . ( 8.008 p ercen t A p p r o x im a te ly 86 p e r c e n t o f t h e t o t a l amount b i d f o r a t t h e lo w p r i c e was a c c e p t e d . T o t a l b i d s r e c e i v e d w e re $390 m i l l i o n , o f w h ich $80 m i l l i o n w ere a ccep ted . Alfred Hayes, President.
@FedFRASER