BGL Sets Terms for $40 Mln 15.875% 2-Year
Exchangeable Bonds
12/14/99 8:28:00 AM
Source: Bloomberg News
Luxembourg, Dec. 14 (Bloomberg) -- The terms for the following issue,
which went on sale Oct. 28, 1999 were fixed today: Issuer: Banque
Generale du Luxembourg SA Manager(s): Banque Generale du
Luxembourg SA Amount: $40 million Type: Reverse exchangeable into
106.416 shares of
Compaq Computer Corp. Redemption: The
bond redeems at 100% of face value if the
Compaq
average final price is greater than or equal
to
$23.4927 or if Compaq average final price
is
lower than or equal to $23.4927 but has
never dropped
below the barrier level of $17.3104
The bonds are exchangeable for Compaq Computer shares
if the average final price is lower than or equal to
$23.4927, and Compaq stock has traded at or below
$17.3104 before maturity Average Initial Price: $24,7292 (average of the
three closing prices of
Compaq Computer shares on Nov. 26, 29 and 30, 1999) Average Final
Price: Average of the three closing prices of Compaq Computer
shares on Nov. 20, 21 and 22, 2001 Exchange Price: $23,4927 (95% of
average initial price) Barrier Level: $17.3104 (70% of average initial price)
Coupon: 15.875 percent Maturity: Dec. 3, 2001 Settlement: Dec. 3, 1999 |
