Foot Locker calls 5.5% convertibles

New York, April 20 - Foot Locker Inc. said it will redeem all $150 million of its outstanding 5.5% convertible subordinated notes.

The redemption will be on June 4.

The New York athletic retailer will pay 103.1% of par plus accrued interest.

Up to June 3, holders can convert the notes into stock at a price of $15.806 per share. Foot Locker stock closed at $25.99 Tuesday.

Foot Locker said it expects most holders will convert, assuming its stock continues to trade above $16.30.

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