E*Trade calls 6.75%, 6% convertibles

Pittsburgh, June 16 - E*Trade Financial Corp. has called the remaining $162.5 million of its 6.75% convertible subordinated notes due 2008 for redemption July 16 at a price of $1,033.75 per $1,000 face amount, according to a news release.

E*Trade also called $185.2 million principal amount or half of its outstanding 6% convertible subordinated notes due 2007 for redemption July 6 at a price of $1,025.70 per $1,000 face amount.

Holders can convert the 2008 notes into common stock at a conversion price of $10.925 by the close of business on July 2. Holders of the 2007 notes can convert them to common stock at a conversion price of $23.60.

E*Trade stock closed at $10.86 on Tuesday.

E*Trade is a New York City-based financial services provider.

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