Computer Sciences calls its 7.375% notes, to set pricing on March 25

By Susanna Moon

Chicago, Feb. 22 - Computer Sciences Corp. said it will redeem all $500 million of its 7.375% notes due June 15, 2011.

The company will set the redemption price for the notes at 3:30 p.m. ET on March 25.

The company plans to redeem the notes on March 30 at the greater of par and the sum of the present values of the remaining scheduled payments of principal and interest on the notes discounted to the redemption date on a semiannual basis at the 0.875% U.S. Treasury due May 31, 2011 rate plus 30 basis points and accrued interest to the redemption date.

The Bank of New York is the trustee.

Goldman, Sachs & Co., as the independent investment banker, selected the comparable Treasury issue being used in the calculation of the redemption price.

The consulting, systems integration and design company is based in El Segundo, Calif.

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