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Prospect News home > News index > List of issuers M > Headlines for Martha Stewart Living Omnimedia, Inc. > News item |
Calyon plans to issue 13.6% reverse notes linked to Martha Stewart Living
By Angela McDaniels
Seattle, Sept. 7 - Calyon plans to price up to $10 million of 13.6% reverse convertible notes due March 29, 2007 linked to the class A common stock of Martha Stewart Living, according to a Caylon term sheet.
Interest will be payable monthly.
The notes will price on Sept. 25, with settlement on Sept. 29.
The payout at maturity will be par in cash unless Martha Stewart Living stock trades at or below the barrier price - 80% of the initial share price - and finishes below its initial price, in which case the payout will be a number of Martha Stewart Living shares equal to $1,000 divided by the initial share price.
Caylon Securities (USA) Inc. will be the agent for the offering and JVB Financial Group, LLC will be the distributor.
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