NOTICE OF FULL
REDEMPTION TO THE HOLDERS OF
New York State Power Authority
Series BB 1992
NOTICE IS HEREBY GIVEN that there have been called for full redemption on January 1, 2002 all outstanding Bonds of the above captioned bonds, totaling $58,095,000 in principal amount, plus applicable premium, if any, as listed below:
| Maturity | Amount | Rate | Redemption Price | *CUSIP No. |
| January 1, 2003 | $10,400,000 | 6.00% | 102.00% | 649892 ZE9 |
| January 1, 2004 | $11,035,000 | 6.10% | 102.00% | 649892 ZG4 |
| January 1, 2005 | $11,620,000 | 6.20% | 102.00% | 649892 ZJ8 |
| January 1, 2006 | $12,265,000 | 6.25% | 102.00% | 649892 ZL3 |
| January 1, 2007 | $12,775,000 | 6.30% | 102.00% | 649892 ZN9 |
The Bonds are being called pursuant to the redemption provisions of the governing documents at the referenced redemption price plus accrued interest to January 1, 2002 on which date all interest on the Bonds will cease to accrue. Holders of the Bonds are requested to present their Bonds, at the following addresses:
| First Class/Registered/Certified | Express Delivery Only | By Hand Only |
| JP
Morgan Chase Bank Institutional Trust Services P.O. Box 2320 Dallas, Texas 75221-2320 |
JP
Morgan Chase Bank Institutional Trust Services 2001 Bryan Street, 9th Floor Dallas, Texas 75201 |
JP
Morgan Chase Bank Room 234-North Bldg. Institutional Trust Securities Window 55 Water Street New York, NY 10041 |
NEW YORK STATE POWER
AUTHORITY
By: JPMorgan Chase Bank
as Trustee or Agent
Bondholder Communications: 800-275-2048
www.chase.com/bondholder
Dated: November 30, 2001
IMPORTANT TAX INFORMATION
Under the provisions
of the Economic Growth and Tax Relief Reconciliation Act of
2001 (the "Act"), paying agents making payments of interest or
principal on municipal securities may be obligated to withhold a 30% tax from
remittance to individuals who have failed to furnish the paying agent with a
valid taxpayer identification number. Owners of the Bonds who wish to avoid the
imposition of the tax should submit certified taxpayer identification numbers
when presenting the Bonds for payment.
*NOTE: The
Issuer and JPMorgan shall not be responsible for the use of the CUSIP numbers
selected, nor is any representation made as to their correctness indicated in
the notice or as printed on any Bond. They are included solely for the
convenience of the holders.