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PPL Electric Utilities Corp., 3.35% Series Cumul Preferred Stock
Ticker Symbol: PLEUL* CUSIP: 69351U871 Exchange: OTOTC
* NOTE: This security is no longer trading as of 4/15/2010
Security has been Called for: Thursday, April 15, 2010
March 16, 2010 -- PPL Electric Utilities Corporation, a subsidiary of PPL Corporation (NYSE:PPL), on Tuesday (3/16) began mailing notices of redemption to owners of record of all the outstanding shares of five separate series of PPL Electric's preferred stock. The redemptions, which PPL Electric is undertaking to reduce costs and increase efficiencies, will be effective April 15, 2010. At that time, PPL Corporation will have acquired all of the remaining voting stock of PPL Electric that it does not already own, which amounts to less than 1 percent of PPL Electric's voting stock. On and after that date, the redeemed shares will no longer be outstanding and will represent only the right to receive the applicable redemption price. Redemption prices do not include the dividends that were declared on Feb. 26, 2010, to holders of record on March 10, 2010, and that are payable April 1, 2010. Those dividends will be paid separately. Payment of the redemption price will be made on or after April 15, 2010, upon receipt by Wells Fargo of all required documentation. No dividends will accrue after April 1, 2010, nor will any interest accrue on amounts held by Wells Fargo to pay the redemption price. Because the redemptions are redemptions in full, PPL Electric will cause each of the series of redeemed shares to be delisted from trading and not listed on any other exchange. The company also intends to file with the Securities and Exchange Commission a notification of voluntary withdrawal of listing and registration with respect to each of the redeemed series. The series to be redeemed, the applicable redemption price per share payable for each series, the exchange on which the series is traded and the applicable CUSIP number are set forth below:
Series Redemption Price Exchange CUSIP No.
4 1/2% preferred stock $110.00 NYSE 69351U301
3.35% series preferred $103.50 OTC 69351U871
4.40% series preferred $102.00 NYSE 69351U202
4.60% series preferred $103.00 OTC 69351U400
6.75% series preferred $101.35 OTC 69351U889
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QUANTUMONLINE.COM SECURITY DESCRIPTION: PPL Electric Utilities Corp., 3.35% Cumulative Preferred Stock, liquidation price $100 per share, without sinking fund requirements, redeemable any time at the issuer's option at $103.50 per share plus accrued and unpaid dividends, distributions of 3.35% ($3.35) per annum are paid quarterly on 1/1, 4/1, 7/1 & 10/1. PPL Electric Utilities Corp. is a wholly-owned subsidiary of PPL Corp. (NYSE: PPL).
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Go to Parent Company's Record (PPL)
Market Value $1.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: Two North Ninth Street, Allentown, PA 18101 |
| Main Phone Number |
610-774-5151 |
| Fax Number |
610-774-5106 |
| Investor Relations
Tim Paukovits
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610-774-4124
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| Toll Free Phone Number |
800-345-3085 |
| CEO - James H. Miller |
CFO - Paul A. Farr |
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