New Issue: Salomon sell $72.5 million 11% ELKS linked to Cisco

New York, Jan. 22 - Salomon Smith Barney Holdings Inc. sold $72.5 million of 11% ELKS due 2003 linked to Cisco Systems, Inc. common stock, according to a filing with the Securities and Exchange Commission.

Holders receive 0.51335 shares of Cisco stock at maturity if the stock trades below $12.66 at any time up to three trading days before maturity. (The $12.66 is approximately 65% of the $19.48 closing price of Cisco stock on the pricing date.) Otherwise, the $10 principal is returned in cash.

The securities were priced Thursday via Salomon Smith Barney.

Issuer:	Salomon Smith Barney Holdings Inc.
Amount:	$72.5 million (7.25 million at $10 per security)
Maturity:	Jan. 24, 2003
Coupon:	11%, payable July 24, 2002 and Jan. 24, 2004
Price:	Par of $10
Yield:	11%
Payout at maturity:	0.51335 shares Cisco stock per ELKS if Cisco trades at or below $12.66 at any time up to three trading days before maturity. Otherwise $10 in cash
Listing:	"ECI" on American Stock Exchange
Settlement:	Jan. 23
End

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.