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t In m i' S i A i r s

Vai 1 1 y A u t h o k i t y

July 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 $80 million
par value of 126 -day discount notes at an average price of 98 .476 , which
results in a rate of discount of 4-354 percent per annum on a 360-day
basis.

The notes are dated July 2 7 , 1972 and mature on November 30,

1972.
Accepted bids ranged from a high price of 98-479 (4-346 percent
discount) to a low of 98.472 (4.366 percent discount).

Approximately

90 percent of the total amount bid for at the low price was accepted.
Total bids received were $585 million, of which $80 million were accepted.




Alfred llnyes,
Presi do nt.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102