Tennessee Valley Authority
Investment Opportunities
The Tennessee Valley Authority is a wholly-owned, but self-funded agency of the U.S. government. TVA meets its funding needs with operating revenues and power program financings. TVA debt securities are obligations of its power system and are only issued for power program purposes, including refinancing of existing debt. TVA debt securities are not obligations of the U.S. government and do not carry a government guarantee.
TVA issues a variety of debt securities. TVA Discount Notes have maturities of less than one year. TVA may issue long-term bonds with final maturities of up to 50 years. These bonds and notes are available to investors through banks, brokers and investment dealers. Information about the specific types of bonds and notes TVA issues is provided below.
TVA Power Bonds
This retail bond program offers a series of issues with a variety of structures targeted to individual investors. Power Bonds are generally issued once a month.
To find a CUSIP number, coupon rate, maturity date and other pertinent information on TVA's currently issued electonotes®, see the Summary of Information Sheet.
Putable Automatic Rate Reset Securities (PARRS)
Bonds that trade on the New York Stock Exchange under the symbols “TVC” and “TVE”
Other TVA Power Bonds
Global and domestic issues offered with varying maturities, structures and interest payment time frames and in several different currencies
Short-Term Notes
Discount Notes
Offered for sale on a periodic basis through participating investment dealers and dealer banks
Find a Broker
TVA does not sell securities directly to the public. However, TVA securities may be purchased through a number of brokers, banks and other financial institutions. Some of the organizations that may sell TVA securities include:
Merrill Lynch (Bank of America)
Notice: TVA is not able to recommend financial institutions to investors and does not endorse any financial institution. Links to third party sites are provided here for convenience and should not be viewed as an endorsement or recommendation of these institutions. Institutions other than those referenced may sell TVA securities.