Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Ove Hansen who wrote (26895)	7/15/1999 3:02:00 PM
From: KS	Read Replies (1) \| Respond to of 77400

July 15, 1999 14:51 Amex Lists 6% Reset PERQS(SM) Due Aug. 1, 2001 Linked to Cisco Systems, Inc. New $134.5 Million Issue from Morgan Stanley Dean Witter Offers Investors Shares of Cisco Systems Common Stock at Maturity NEW YORK, July 15 /PRNewswire/ -- The American Stock Exchange(R) today began trading Morgan Stanley Dean Witter & Co. 6% Reset Performance Equity-linked Redemption Quarterly-pay Securities(SM) (Reset PERQS(SM)), mandatorily exchangeable for shares of Cisco Systems, Inc. (Nasdaq: CSCO) Common Stock at maturity. Trading under the ticker symbol RCP, the $134.5 million listing consists of 20.6 million Reset PERQS issued at $6.53125, with a maturity date of August 1, 2001. Reset PERQS are similar to other debt securities in that they make fixed quarterly interest payments, in this case at an annual rate of 6% on the $6.53125 principal amount of each Reset PERQS beginning November 1, 1999 (equivalent to $0.391875 per annum). Unlike ordinary debt securities, among other things, the Reset PERQS do not guarantee the return of principal at maturity. In addition, Reset PERQS are unique in that: -- At maturity, holders of the Reset PERQS will exchange each $6.53125 principal amount of Reset PERQS for a number of shares of Cisco Systems, Inc. Common Stock determined by the applicable Exchange Ratio. -- The initial Exchange Ratio is one-tenth of a share (0.1) of Cisco Systems, Inc. Common Stock per Reset PERQS and may be subject to adjustments if the price of Cisco Systems, Inc. Common Stock exceeds the First Year or Second Year Cap Prices. -- The Cap Price may be adjusted to the greater of $85.24, or 130.51% of the $65.3125 closing level market price of Cisco Systems, Inc. Common Stock on July 14, 1999, the date the Reset PERQS were priced. -- The maximum a holder of RCP can receive at maturity is Cisco Systems, Inc. Common Stock worth $11.12 per Reset PERQS. Cisco Systems, Inc. Common Stock is traded on the Nasdaq National Market under the ticker symbol CSCO. Cisco Systems, Inc. is not affiliated with the issuer nor involved with this offering in any way. The Nasdaq-Amex Market Group(SM), which operates The Nasdaq Stock Market(R) and the American Stock Exchange(R) (Amex(R)), is a subsidiary of the National Association of Securities Dealers, Inc. (NASD(R)), the largest securities-industry, self-regulatory organization in the United States. The union of Nasdaq(R) and Amex creates the world's first financial market that brings together central auction Specialist and multiple Market Maker systems. The Amex trades options on 28 broad-based and sector indexes and 1,033 domestic and foreign stocks, as well as Long-term Equity AnticiPation Securities(R) (LEAPS(R)) on 145 stocks. The Amex is a leader in listing warrants on indexes, hybrid instruments and other structured products and is home to the Index Share(TM) Marketplace, which includes SPDRs(R), Select Sector SPDRs(R), DIAMONDS(SM), MidCap SPDRs(TM), WEBS(TM) and Nasdaq-100 Shares(SM). For more information about Nasdaq-Amex(SM), visit nasdaqtrader.com or the Nasdaq-Amex Newsroom(SM) at nasdaq-amexnews.com. For further information on Morgan Stanley Dean Witter & Co. Reset PERQS(SM) Due 2001 exchangeable for shares of Cisco Systems, Inc., please contact the Capital Markets Group at the Amex at 212-306-2064. SOURCE American Stock Exchange /CONTACT: John Quirk of the American Stock Exchange, 212-306-1647/ /Web site: nasdaqtrader.com /Web site: nasdaq-amexnews.com