STMicroelectronics calls remaining LYONs

New York, Oct. 11 - STMicroelectronics said it will redeem all its remaining Liquid Yield Option Notes on Nov. 12.

The Geneva, Switzerland, semiconductor company will pay $888.96 per $1,000 principal amount, equivalent to the $784.84 principal amount at issuance plus accrued original issue discount through the date of redemption of $104.12.

STMicroelectronics currently has $8.103 million of the LYONs outstanding following the recent exercise of the put option by holders of $910 million of the securities.

Holders can covert the remaining LYONs into stock up to the close of business on Nov. 12 at the rate of 26.292 shares per $1,000 principal amount. STMicrolectronics stock closed at $17.71 Friday.

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