Published on 2/26/2003 in the Prospect News Convertibles Daily.
New Issue: Salomon sells $25 million Targets linked to Dell
New York, Feb. 26 - Targets Trust XVIII sold $25 million of Targeted Growth Enhanced Terms Securities (Targets) guaranteed by Salomon Smith Barney Holdings Inc. and linked to Dell Computer Corp. common stock, according to a filing with the Securities and Exchange Commission.
| Issuer: | Targets Trust XVIII (Guaranteed by Salomon Smith Barney Holdings Inc.)
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| Issue: | Targeted Growth Enhanced Terms Securities (Targets)
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| Amount: | $25 million
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| Maturity: | Feb. 15, 2006
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| Coupon: | 10%, payable quarterly (short first coupon)
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| Price: | Par of $10
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| Payout at maturity: | Cash equivalent to par multiplied by chain of monthly performance figures, capped at 5% gain per month or 10% loss per month
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| Pricing date: | Feb. 24
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| Settlement: | Feb. 27
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| Underwriter: | Salomon Smith Barney Inc.
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| Listing: | "TGD" on the American Stock Exchange
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