E*Trade holders exchange $50 million of 7 3/8% notes for shares

By Angela McDaniels

Tacoma, Wash., May 6 - E*Trade Financial Corp. said it issued 9,749,249 shares of its common stock in exchange for $50 million principal amount of its 7 3/8% senior notes due September 2013.

The notes were exchanged between March 12 and May 1, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

The New York-based E*Trade family of companies provides financial services including trading, investing, banking and lending for retail and institutional customers.

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