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Federal Reserve N e w Y o r k Ba n k , N . Y . of N ew York 10045 A R E A C O D E 21? 7 3 P - 5 7 0 0 F iscal for the agent of the T ennessee Un i t e d Va l l e y Sta t e s Au t h o r i t y April 25, 1972 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 $150 million par value of 126 -day discount notes at an average price of 98 .6 1 1 , which results in a rate of discount of 3*969 percent per annum on a 360-day basis. The notes are dated April 2 7 , 1972 and mature on August 3 1 , 1972. Accepted bids ranged from a high price of 98.635 (3*900 percent discount) to a low of 98.608 (3*977 percent discount). Approximately 68 percent of the total amount bid for at the low price was accepted. Total bids received were $707 million, of which $150 million were accepted. Alfred Hayes, President.
@FedFRASER