One of the main problems of Orthogonal Frequency Divis~on Multiplexing (OFDM) is the large Peak-to-Average Power Ratio (PAPR) of the output signal, which demands linear behavior of the system over a large dynamic range. In this paper the performance of amplitude clipped high order OFDM is considered. Using a central limit theorem, the distribution of the OFDM signal is found to be asymptotical’y Gaussian when the order of the 0FDA4 signal approaches injnity. An expression for the probability that the PAPR of the signal will exceed a given level is found, and using it an upper bound on the BER is derived. It is shown that when the clipping ~evel approaches infinity faster than m, then a zero BER penalp and arbitrarily large Peak-to-Average Power Ratio gain are asymptotically obtained. It is also shown that use of the asymptotic results for N 232 causes a negligible error in practice.