Cypress Calls for Redemption of 3.75% Convertible Subordinated Notes Due July 1, 2005.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif. -- Cypress Semiconductor Corporation ("Cypress") is calling today for redemption on December 9, 2004, of all of its outstanding 3.75% Convertible Subordinated Notes due July 1, 2005 (the "3.75% Notes"). The CUSIP number CUSIP Number An identification number assigned to all stocks and registered bonds. The Committee on Uniform Securities Identification Procedures (CUSIP) oversees the entire CUSIP system. Notes: This system is used in the U.S. and Canada. for the 3.75% Notes is 232806 AF6. The aggregate outstanding principal amount of the 3.75% Notes is approximately $69,000,000. Prior to 5:00 p.m., Eastern Time, on December 8, 2004, holders may convert their 3.75% Notes into shares of Cypress common stock at a price of $62.548 per share, or approximately 15.99 shares of Cypress common stock per $1,000 principal amount of the 3.75% Notes. Cash will be paid in lieu of fractional shares. On November 18, 2004, the last reported sale price of Cypress common stock on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. Composite Tape Composite tape See: Tape composite tape A security price reporting service that includes all transactions in a security on each of the exchanges and in the over-the-counter market. was $10.67 per share. Alternatively, holders may have their 3.75% Notes redeemed on December 9, 2004. Upon redemption, holders will receive a total of $1,016.46 per $1,000 principal amount of the 3.75% Notes (consisting of 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. of $1,000 per $1,000 principal amount of the 3.75% Notes, plus accrued and unpaid interest thereon from July 1, 2004 up to, but not including, December 9, 2004, of $16.46). Any of the 3.75% Notes called for redemption and not converted on or before 5:00 p.m., Eastern Time, on December 8, 2004, will be automatically redeemed on December 9, 2004, and no further interest will accrue. A Notice of Redemption is being distributed to all registered holders of the 3.75% Notes. A copy of the Notice of Redemption may be obtained from the Trustee, U.S. Bank National Association, by calling Paula Oswald at 213-615-6043. The address of U.S. Bank National Association is 633 West Fifth Street, 24th Floor, Los Angeles, Calif. 90071. About Cypress Cypress Semiconductor Corp. (NYSE NYSE See: New York Stock Exchange :CY) is Connecting from Last Mile to First Mile(TM) with high-performance solutions for personal, network access, enterprise, metro switch and core communications-system applications. Cypress Connects(TM) using wireless, wireline, digital and optical transmission standards, including USB USB in full Universal Serial Bus Type of serial bus that allows peripheral devices (disks, modems, printers, digitizers, data gloves, etc.) to be easily connected to a computer. , Fibre Channel, SONET/SDH, Gigabit Ethernet and DWDM (Dense WDM) The term given to wavelength division multiplexing (WDM) when significantly more channels were being added. Since WDM is increasingly more "dense" all the time, both terms are used synonymously. See WDM. DWDM - wavelength division multiplexing . Leveraging its process and system-level expertise, Cypress makes industry-leading physical layer devices, framers and network search engines, along with a broad portfolio of high-bandwidth memories, timing technology solutions and reconfigurable mixed-signal arrays. More information about Cypress is accessible online at www.cypress.com. Cypress and the Cypress logo are registered trademarks of Cypress Semiconductor Corporation. "Connecting from Last Mile to First Mile," and "Cypress Connects" are trademarks of Cypress. All other trademarks are the property of their respective owners. |
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