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AMEX LISTS TWO MILLION SALOMON INC EQUITY-LINKED SECURITIES TIED TO ORACLE STOCK

 NEW YORK, Oct. 15 /PRNewswire/ -- Two million ORCL (Oracle) Common Equity-Linked Securities(SM) (ELKS) listed on the American Stock Exchange today. Issued by Salomon Inc, the "ELKS" pay quarterly dividends based on a 7.25 percent annual rate and mature on Jan. 21, 1996.
 Trading under ticker symbol "OLK," the securities opened at 31-3/4 on volume of 52,800. AIM Securities Inc. is the specialist unit for the new ELKS.
 Unlike ordinary debt securities, the principal amount to be paid at maturity is not fixed. Instead, the holder of an OLK will receive either 155 percent of the OLK issue price, or the average closing price per share of Oracle common stock (or 50 percent of such average closing price in the event the recently announced 2 for 1 ORCL stock split does not occur) for the ten trading days immediately prior to maturity.
 Salomon Brothers Inc and Prudential Securities Incorporated co- managed the offering. Oracle Systems Corporation, of Redwood Shores, Calif., a maker of computer software products, is neither affiliated with the issuer nor involved in any way in the offering.
 The Oracle listing follows two prior Amex listings of securities tied to an unrelated company's common stock. It also represents the second time equity-linked debt securities have been based on Oracle's common stock. Salomon Inc listed the first type of these securities based on Digital Equipment Corporation common stock on the Amex in July, while Lehman Brothers Holdings Inc. issued one tied to Oracle's common stock yesterday.
 "Equity-linked securities represent a further refinement in the kinds of financially structured products that are being offered to today's investors," said Benjamin Krause, Amex senior vice president of Capital Markets. "These products allow investors to make a judgement on the direction of the underlying linked stock and, at the same time, receive periodic interest payments," he added.
 A leader in derivative securities, the Amex has pioneered the development of several new products. Domestically, it is the home of Standard & Poor's Depositary Receipts(TM), SPDRs(TM) (pronounced "SPIDERS").
 Internationally, it is the only U.S. marketplace that currently trades warrants based on London's Financial Times Stock Exchange Eurotrack 200 Index and France's CAC-40 Index. It also trades single and multiple currency warrants based on the value of the U.S. dollar in relation to the Japanese yen, German mark and the British pound.
 -0- 10/15/93R
 /CONTACT: Kathleen Fitzpatrick, manager-derivative securities communications of American Stock Exchange, 212-306-1697/


CO: Salomon Inc; Oracle Systems Corporation ST: California, New York IN: SU:

SH -- NY057R -- 2844 10/15/93 15:11 EDT
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Publication:PR Newswire
Date:Oct 15, 1993
Words:428
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