AT&T Calls Trust Originated Preferred Securities.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 29, 2002 AT&T (NYSE NYSE See: New York Stock Exchange : T) today announced that it is notifying holders that it will call the following TCI (Trustworthy Computing Initiative) An umbrella term from Microsoft for its efforts to improve security in Windows. TCI was announced in 2002 after viruses such as Code Red and Nimda had succeeded in attacking numerous Windows computers. Communications Inc. securities for early redemption on February 28, 2002: 8.72 percent Trust Originated Preferred Securities due January 31, 2045, and 10.00 percent Trust Originated Preferred Securities due May 31, 2045. The 8.72 percent Trust Originated Preferred Securities, CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. 872285200, of which $500 million are outstanding, were issued by TCI Communications Financing I, established by TCI Communications, Inc. (since renamed AT&T Broadband LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ), now a wholly-owned subsidiary of AT&T, on January 29, 1996. The redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. for the Securities will be $25.00 plus a final 58-day dividend payment of approximately $0.35 per security. The 10.00 percent Trust Originated Preferred Securities, CUSIP 872286208, of which $470.8 million are outstanding, were issued by TCI Communications Financing II, established by TCI Communications Inc., on May 22, 1996. The redemption price for the Securities will be $25.00 plus a final 58-day dividend payment of approximately $0.40 per security. The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. is the Trustee and Paying Agent Paying Agent An agent who accepts payments from the issuer of a security and then distributes the payments to the holders of the security. Also known as a "disbursing agent. for these issues. On and after the redemption date, dividends on these securities shall cease to accrue. These securities were issued in book-entry form only. The Depository Trust Company Depository Trust Company (DTC) DTC is the world's largest central securities depository. It accepts deposits of over 2 million equity and debt securities issues (valued at $23 trillion) from over 65 countries for custody, executes book-entry deliveries (valued at over $116 trillion acts as the depositary for the securities. The foregoing are "forward-looking statements" which are based on AT&T management's beliefs as well as on a number of assumptions concerning future events made by and information currently available to management. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside AT&T's control, that could cause actual results to differ materially from such statements. For a more detailed description of the factors that could cause such a difference, please see AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is presented solely to provide additional information to further understand the results of AT&T. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion