Discount Notes

  • Available in various amounts and with maturity dates less than one year from the date of issue
  • Offered for sale on a continuing basis to a selected group of investment dealers and dealer banks
  • Sold at a discount, in book-entry form only, in principal amounts of $100,000 and additional increments of $1,000
  • Offer flexibility to institutional and individual investors

View TVA’s Discount Notes Offering Circular (PDF file, 112 kb; requires Adobe Acrobat Reader).

TVA Approved Discount Note Dealers (as of March 2023):

  • Academy Securities, Inc.
  • AmeriVet Securities, Inc.
  • Barclays Capital, Inc.
  • Blaylock Van, LLC
  • BofA Securities, Inc.
  • CastleOak Securities, L.P.
  • Citigroup Global Markets, Inc.
  • Drexel Hamilton, LLC
  • FHN Financial Capital Markets
  • Jefferies LLC
  • J.P. Morgan Securities LLC
  • Loop Capital Markets LLC
  • Mischler Financial Group, Inc.
  • Mizuho Securities USA LLC
  • Morgan Stanley & Co. LLC
  • Samuel A. Ramirez & Company, Inc.
  • Siebert Williams Shank & Co., LLC
  • TD Securities (USA) LLC
  • Wells Fargo Securities, LLC

Investor Relations