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    Putable Automatic Rate Reset Securities

    Pursuant to the terms of the 1999 Series A Offering Circular, TVA conducted the calculation on Wednesday, March 30, 2022 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 2.216%. The next reset calculation will be performed on Wednesday, April 5, 2023 to determine if the rate will be reset beginning on May 1, 2023. 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 4, 2022, 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 2.134%. The next reset calculation will be performed on Wednesday, May 3, 2023, to determine if the rate will be reset beginning on June 1, 2023. Please see the 1998 Series D Offering Circular and supplements to the offering circular for additional information.

     

    PARRS Fast Facts

    Issued in denominations of $25

    Quarterly interest payments

    Not callable prior to maturity

    Traded on the New York Stock Exchange as "TVC" and "TVE"

    Annual reset provision provides for a possible reduction in the coupon rate under certain conditions

    Option for investors to put (return) bonds to TVA at par value if the coupon rate is reset lower

    How is the reset calculated?

     

    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

    Select a category to get a quote from the New York Stock Exchange .

    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
    2.134%
    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
    2.216%
    Each May 1, until maturity
    May 1, 2029
    FEB 1
    MAY 1
    AUG 1
    NOV 1
    $525,000,000
    $231,683,250

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