Samsung Electronics to redeem 0% convertibles due 2007

New York, Feb. 5 - Samsung Electronics Co. Ltd. said it will call the remaining $69.77 million outstanding of its 0% convertible bonds due 2007.

The bonds will be redeemed on March 25, 2002 at par. (There is no accrued interest because the bonds have a zero coupon.)

Holders can convert the bonds at any time up to March 15, 2002, Samsung said. The conversion price on Feb. 5 was KRW113,351 and the company's stock closed on Jan. 16 at KRW301,500. At this price, the bonds would convert into 546,891 common shares or 1,093,782 Global Depositary Shares.

Samsung originally sold $300 million of the bonds.

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