Annaly Capital lowers conversion price on 4% convertibles due 2015

By Toni Weeks

San Diego, July 2 - Annaly Capital Management, Inc. said it lowered the conversion price on its 4% convertible senior notes due 2015 to $15.0257 from $15.5263 per common share.

The adjustment, effective June 27, was made as a result of the company's second quarter 2012 common stock cash dividend of $0.55 per share.

The new conversion rate is 66.5527 common shares for each $1,000 principal amount of notes, up from 64.4069.

The company's shares (NYSE: NLY) closed at $16.95 on Monday.

Wells Fargo Bank, NA is the trustee.

Annaly is a real estate investment trust based in New York.

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