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Pursuant to the terms of the 1999 Series A Offering Circular, TVA conducted the rate calculation on Wednesday, April 4, 2018 and determined that the coupon rate on the TVA 1999 Series A Puttable Automatic Rate Reset Securities bonds (NYSE: TVE) will remain at the current rate of 3.36%. The next reset calculation will be performed on Wednesday, April 3, 2019 to determine if the rate will be reset for that following year. Please see the 1999 Series A Offering Circular and supplements to the offering circular for additional information.

Pursuant to the terms of the 1998 Series D Offering Circular, TVA conducted the calculation on Wednesday, May 2, 2018 and determined that the coupon rate on the TVA 1998 Series D Puttable Automatic Rate Reset Securities bonds (NYSE: TVC) will remain at the current rate of 3.55%. The next reset calculation will be performed on Wednesday, May 1, 2019 to determine if the current rate will be reset for the future year. Please see the 1998 Series D Offering Circular and supplements to the offering circular for additional information.

 

 

Update: Important Legal Notices

TVA has issued legal notices to clarify the procedures that you should follow in order to exercise the put option in the event that a coupon rate reset notice is given and to clarify the procedures used to determine whether the coupon rate on the PARRS will be reset.

TVC is sometimes called: (TVA 28), (TN Vly PARRS)

TVE is sometimes called: (TVA 29), (TVA PARRS)

 

Putable Automatic Rate Reset Securities (PARRS) Reset History

Issue Ticker Symbol CUSIP Current Coupon Rate Date of Potential Reset Maturity Date Interest Payment Dates Original Issue Amount Amount Outstanding
1998 Series D
(PARRS)
Offering Circular
TVC
880591300
3.550%
Each June 1, until maturity
June 1, 2028
MAR 1
JUN 1
SEP 1
DEC 1
$575,000,000
$273,407,175
1999 Series A
(PARRS)
Offering Circular
TVE
880591409
3.360%
Each May 1, until maturity
May 1, 2029
FEB 1
MAY 1
AUG 1
NOV 1
$525,000,000
$231,683,250