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RJR NABISCO OFFERS 200 MILLION PERCS DEPOSITARY SHARES

      RJR NABISCO OFFERS 200 MILLION PERCS DEPOSITARY SHARES
    NEW YORK, Nov. 1 /PRNewswire/ -- RJR Nabisco Holdings Corp. today announced that it has commenced an offering of 200 million depositary shares of Preferred Equity Redemption Cumulative Stock (PERCS) at $10.125 per depositary share.
    The annual dividend for each depositary share is $0.835 (83.5 cents).  On Nov. 15, 1994, each depositary share will automatically convert into one share of RJR Nabisco Holdings common stock.  The depositary shares are subject to redemption by the company at any time at an initial price (payable in shares of common stock) of $16.205 per depositary share, declining to $13.70 after Sept. 15, 1994.
    RJR Nabisco Holdings said it expects that substantially all of the net proceeds from the PERCS sale will be used to retire outstanding debt of its subsidiaries.
    Morgan Stanley & Co. is managing the PERCS offering, along with Goldman, Sachs & Co.
    RJR Nabisco Holdings Corp. is the indirect parent of RJR Nabisco, Inc., an international consumer products company.  RJR Nabisco's major operating units


are R.J. Reynolds Tobacco Co., R.J. Reynolds Tobacco International, Inc., and the Nabisco Foods Group, consisting of Nabisco Brands, Inc. and Planters LifeSavers Co.
    -0-                            11/1/91
    /CONTACT:  Jason Wright of RJR Nabisco Holdings, 212-258-5770/ CO:  RJR Nabisco Holdings Corporation ST:  New York IN:  REA SU:  OFR BR-BN -- AT005 -- 0168 11/01/91 11:07 EST
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Publication:PR Newswire
Date:Nov 1, 1991
Words:233
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