Vishay sets stock issuance rate for LYONs put

New York, June 1 - Vishay Intertechnology Inc. said it will issue 32.6669 shares of common stock per $1,000 principal amount at maturity of its Liquid Yield Option Notes put back to the company.

The Malvern, Pa., electronic component manufacturer will pay cash instead of fractional shares.

The LYONs are putable at their accreted value of $602.77 per $1,000 principal amount on June 4. Vishay has chosen to pay the put in stock. Under the terms of the securities, the number of shares to be issued is based on the average closing price for the five trading days ending on the third business day before the put date, or $18.452.

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