ImClone calls 5½% convertibles

New York, May 19 - ImClone Systems Inc. said it will redeem all its outstanding 5½% convertible subordinated notes due 2005 on June 18.

The New York biotechnology company will pay 101.10% of par plus accrued interest through June 17.

ImClone has $239.986 million of the securities outstanding.

Up to the close of business on June 17, holders can convert the notes into stock at a price of $55.09 per share. ImClone stock closed at $72.20 on Tuesday.

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