What is the last day a buyer can purchase TVA securities in order to receive the next interest payment?
If the bonds have been issued through the book-entry system of the U.S. Federal Reserve Banks, the “holder” must be the owner of record on the business day immediately before the relevant interest payment date. If the bonds have been issued through the book-entry system of The Depository Trust Company, the holder must be the owner of record on the appropriate record date, which is often 15 calendar days before the relevant interest payment date. However, you may be a “beneficial owner” and not be a holder in these systems. Your broker can tell you what time frames apply to beneficial owners.
