Intel to Redeem 2.95% Junior Subordinated Convertible Debentures Due 2035
November 16 2017 - 4:30PM
Business Wire
Intel announced today that it has issued a notice of redemption
to redeem on December 18, 2017 all of its outstanding 2.95% Junior
Subordinated Convertible Debentures due 2035 (CUSIP Number
458140AC4) (the "Securities"). As of November 15, 2017,
approximately $1.6 billion of the Securities was outstanding.
The Securities called for redemption will be redeemed at a
stated redemption price equal to 100% of the aggregate principal
amount of such Securities, plus accrued and unpaid interest to (but
excluding) the redemption date.
The conversion rate of the Securities as of November 16, 2017 is
37.1860 shares of Intel common stock per $1,000 principal amount of
the Securities, which is equivalent to a conversion price of $26.89
per share of common stock. The Securities called for redemption may
be converted at any time before 5:00 p.m., New York City time, on
December 15, 2017, the business day immediately preceding the
redemption date. Intel has elected to settle the conversion
obligation with respect to the Securities in cash. The amount of
cash payable upon conversion of any Security shall, for each share
of Common Stock into which the Security is convertible, be equal to
the average, as determined by Intel or its agent, of the last
reported price of the common stock for the five consecutive trading
days immediately following the date the Security has been submitted
for conversion in accordance with the indenture. Any holder that
surrenders any Securities for conversion between the close of
business on the record date occurring on December 1, 2017 and the
opening of business on the interest payment date occurring on
December 15, 2017 shall be required to pay Intel an amount equal to
the interest payable by Intel with respect to such Securities on
the interest payment date occurring on December 15, 2017 at the
time such holder surrenders such Securities for conversion.
A copy of the notice of redemption may be obtained from Wells
Fargo Bank, National Association, as trustee, paying agent and
conversion agent, by calling (800) 344-5128.
About Intel
Intel (NASDAQ: INTC) expands the boundaries of technology to
make the most amazing experiences possible. Information about Intel
can be found at newsroom.intel.com and intel.com.
Intel and the Intel logo are trademarks of Intel Corporation in
the United States and other countries.
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version on businesswire.com: http://www.businesswire.com/news/home/20171116006308/en/
Intel CorporationInvestor RelationsTushar Jain,
408-653-9488tushar.jain@intel.comorMedia RelationsCara Walker,
503-696-0831cara.walker@intel.com
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