New Issue: Salomon sells $15 million Targets linked to Bank One

New York, Aug. 22 - Salomon Smith Barney Holdings Inc. sold $15 million of Targets (Targeted Growth Enhanced Term Securities) linked to the common stock of Bank One Corp., according to a filing with the Securities and Exchange Commission.

Issuer:	Targets Trust XVI, guaranteed by Salomon Smith Barney Holdings Inc.
Issue:	Targets (Targeted Growth Enhanced Term Securities) preferred securities
Amount:	$15 million
Maturity:	Aug. 15, 2005
Coupon:	8% payable quarterly beginning Nov. 15, 2002 (short first coupon)
Price:	Par of $10
Payout at maturity:	Product of monthly returns on Bank One Corp. stock, with appreciation capped at 5% per month and depreciation at 10% per month
Listing:	"TGY" on American Stock Exchange
Underwriter:	Salomon Smith Barney
Pricing date:	Aug. 20
Settlement:	Aug. 23

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