Putable Automatic Rate Reset Securities (PARRS)

2011 Reset Calculation for TVE

As determined on March 30, 2011, the interest rate on the TVA 1999 Series A (NYSE:TVE) PARRS bonds (CUSIP number 880591409) will not be reset on May 1, 2011. The interest rate will remain at 4.50% for one additional year and there will be no optional put offered in 2011.

2011 Reset Calculation for TVC

As determined on May 4, 2011, the interest rate on the TVA 1998 Series D (NYSE:TVC) PARRS bonds (CUSIP number 880591300) will not be reset on June 1, 2011. The interest rate will remain at 4.728% for one additional year and there will be no optional put offered in 2011.

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.

1998 Series D (TVC) Legal Notice
(PDF, 95 kb)

1999 Series A (TVE) Legal Notice
(PDF, 94 kb)

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

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TVC (PARRS 28)

TVE (PARRS 29)