Full text of Federal Reserve Bank of New York Circulars : TVA Notes Issue Sold

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

r j T YJ^j

Federal R

eserve
New

York,

AREA

F

iscal

for

the

CODE

A gent

Ba n k

of

N.Y.

10045

N ew Yo r k

312 7 3 2 - 5 7 0 0

of

Tennessee

the

Un

ited

Va lle y

S

tates

Au t h o r i t y

May 27, 1969

FOR IMMEDIATE RELEASE
TVA Notes Issue Sold

The Tennessee Valley Authority sold at auction today $100 million
par value of 119 -day discount notes at an average price of 97*633 which
results in a rate of discount of 7 -l6l per cent per annum on a 360 -day
basis.

The notes, which are dated May 29, 19&9 mature on September 25, 1969 .
Accepted bids ranged from a high price of 97-676--7-031 Per cent

discount--to a low of 97«600--7*26l per cent discount.
the total amount bid for at the low price was accepted.
were $534 million, of which $100 million were accepted.




Eighty per cent of
Total bids received