TVA Putable Automatic Rate Reset Bonds

Pursuant to the terms of the 1999 Series A Offering Circular, TVA conducted the rate reset calculation on Wednesday, April 1, 2026, 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, March 31, 2027, to determine if the rate will be reset beginning on May 3, 2027. 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 rate reset calculation on Wednesday, April 29, 2026, 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 5, 2027, to determine if the rate will be reset beginning on June 1, 2027. 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

IR Contact

Email: investor@tva.gov

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