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.

Strategies & Market Trends : IPPs and Merchant Energy Co.s -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (863)	1/3/2003 9:11:10 AM
From: NDBFREE	Read Replies (2) \| Respond to of 3358

where can I find more info on WMB_pi? Things such as conversion price, etc.

To: Dale Baker who wrote (863)	1/3/2003 9:22:04 AM
From: majaman1978	Respond to of 3358

Dale I looked at WMB_pi while it traded in the 6's and passed. I really want the cash flow from these rather than price appreciation since these eventually convert to common, although I could have gotten some nice divs till 2005. In hindsight I should have established a small position. Maybe these will fall back and I will look again.

To: Dale Baker who wrote (863)	1/3/2003 10:15:56 AM
From: majaman1978	Read Replies (1) \| Respond to of 3358

Dale-Description of WMB_pi below. What is meant by reset after 11/16/2004? Also can they issue a zero coupon at some point in time? I highlighted the section in question. Williams Cos., Inc. 9% FELINE PACS 2/16/05 Symbol: WMB-I CUSIP: 969457886 Exchange: NYSE SECURITY DESCRIPTION: The Williams Cos. Inc. FELINE PACS, which initially consist of Income PACS with a stated value of $25. Each income PACS includes a stock purchase contract and $25 principal amount of their senior notes due 2/16/2007. The stock purchase contract requires the holder to buy a variable number of shares of common stock for $25 on or before 2/16/2005 and also pays a 2.50% contract adjustment rate. The senior notes pay a quarterly distribution of 6 1/2% on 2/16, 5/16, 8/16 & 11/16 and subject to reset after 11/16/2004. The holder of the Income PACS may create a growth PACS by substituting zero coupon Treasury securities for the senior notes. See the IPO Prospectus for further details