PROVISIONAL CALL WARNING: Advanced Micro Devices 6.00% due 5/15/05
Provisional Call Trigger: $24.05 -- Closing Stock Price 4/20/01:$29.00
Published: Monday, April 23, 2001
The convertible securities associated with this news are:
BOND: Advanced Micro Devices 6.00% due 5/15/05
The hard call protection period for the AMD 6% convertible notes due 5/15/05 ends on May 14, 2001 and the provisional call protection period begins on May 15, 2001.
Provisional Call Date: 5/15/2001
Issue Name: Advanced Micro Devices 6.00% due 5/15/05
Provisional Call Trigger: $24.05
Closing Stock Price 4/20/01:$29.00
Percentage Above The Trigger: 20.6%
Number Of Days Above The Trigger: 12
If by 5/15/2001 AMD common stock has closed above $24.05 for 20 out of 30 trading days, the company may call the bond for redemption.
The Notes are redeemable, in whole or in part, at the option of the Company, at any time on and after May 15, 2001, at the redemption prices set forth in the call schedule, plus accrued and unpaid interest, if any, to the date of redemption; provided that the Notes will not be redeemable prior to May 15, 2002, unless the last reported sale price of the Common Stock is at least 130% of the then effective conversion price for at least 20 trading days within a period of 30 consecutive trading days ending within five trading days of the date of the redemption notice.
About Advanced Micro Devices
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Advanced Micro Devices is a semiconductor manufacturer with manufacturing facilities in the U.S. and Asia and sales offices throughout the world.
About the AMD Convertible
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Advanced Micro Devices 6.00% due 5/15/05
On a price only basis, this issue is up 71.16% year to date, with the stock up 109.95%, the CCC+ rated Advanced Micro Devices 6.00% due 5/15/05 closed last night (4/20/2001) at the 158 - 159 ($1580.00) level vs. $29.00 Stock, with a 1.27% conversion premium. At this trading level, this convertible has a 3.78% current yield. After 5/15/2001, this issue may be provisionally called, if the AMD common stock closes above $24.05 for 20 out of 30 trading days.
In the last 52 weeks, the convertible has been as high as 256.13% of par ($2,561.25) and as low as 92.00% of par ($920.00), with the AMD common stock as high as $47.28 and as low as $13.69.
The current amount outstanding on this issue is $517.50 million.
On 4/20/2001 the issue was up 0.08% with the AMD common stock down 0.03%.
All convertible and stock returns are on a price return (not total return) basis.
Convertible:
Price at beginning of year (12-29-2000): 92.75
Last price: 158.75
Stock:
Price at beginning of year (12-29-2000): $13.81
Last price: $29.00
Prices are adjusted for splits.
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