Annaly Capital Management adjusts conversion price for 4% convertibles

By Angela McDaniels

Tacoma, Wash., Oct. 11 - Annaly Capital Management, Inc. said it changed the conversion price for its 4% convertible senior notes due 2015 to $19.1556, effective Sept. 30.

The conversion price was previously $19.8915. The company's stock closed at $17.77 (NYSE: NLY) on Monday.

The adjustment was made due to Annaly's third-quarter dividend of $0.68 per share of common stock, according to a company news release.

The new conversion ratio is 52.2040 shares per $1,000 principal amount of convertibles. It was previously 50.2726 shares.

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

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