Annaly Capital lowers conversion price of 4% convertibles due 2015

By Tali David

Minneapolis, Oct. 2 - Annaly Capital Management, Inc. said it lowered the conversion price of its 4% convertible senior notes due 2015 to $14.5963 from $15.0257 per common share.

The adjustment, effective Sept. 27, was made as a result of the company's second-quarter common stock cash dividend of $0.50 per share.

The new conversion rate is 68.5105 common shares for each $1,000 principal amount of notes, up from 66.5527.

The company's shares closed at $16.92 (NYSE: NLY) on Tuesday.

Wells Fargo Bank, NA is the trustee.

Annaly is a New York-based real estate investment trust and asset manager.

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