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    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