Priceline.com to redeem 1% convertibles

By Jennifer Chiou

New York, Aug. 6 - Priceline.com Inc. announced the redemption of all of its 1% convertible senior notes due Aug. 1, 2010.

The redemption date is Sept. 12.

The Norwalk, Conn.-based online travel agency said that it will redeem the notes at par plus accrued interest through Sept. 11.

Until the close of business on Sept. 11, holders may convert their notes at a rate of 25 shares per $1,000 principal amount. The company's stock closed at $117.20 on Tuesday.

The trustee and paying agent is American Stock Transfer & Trust Co. (718 921-8275).

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