Tennessee Valley Authority Reset Rate Series D Power Bonds due 2028

Please read the prospectus. These reset bonds can be reset lower, but NOT higher.

Note that anytime the coupon is reset lower you have the right (not obligation) to ‘put’ you baby bonds back to the company

As of 6/1/2020 the coupon is 2.13%.

Coupon is reset each 6/1 at the 30 year constant maturity treasury plus a spread of .94%