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PPL Capital Funding, 5.90% 2013 Series B Jr Subordinated Notes due 4/30/2073
Ticker Symbol: PPX* CUSIP: 69352P202 Exchange: NYSE
* NOTE: This security is no longer trading as of 7/15/2021
Security has been Called for: Thursday, July 15, 2021
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QUANTUMONLINE.COM SECURITY DESCRIPTION: PPL Capital Funding, Inc., 5.90% 2013 Series B Junior Subordinated Notes due 2073, issued in $25 denominations, guaranteed by PPL Corporation (NYSE: PPL) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 4/30/2018 at $25 per note plus accrued and unpaid interest, and maturing 4/30/2073. Interest distributions of 5.90% per annum ($1.475 per annum or $0.36875 per quarter) will be paid quarterly on 1/30, 4/30, 7/30 & 10/30 to holders of record on the record date that will be on the business day immediately preceding such interest payment date so long as all of the Notes remain in book-entry only form, or on the 15th day immediately preceding each interest payment date if any of the Notes do not remain in book-entry only form (NOTE: the ex-dividend date is one business day prior to the record date). The notes may be redeemed at the issuer's option at any time before 4/30/2018 at $25 per share, plus accrued and unpaid interest, plus a Make-Whole Amount. The notes may be redeemed at the issuer's option before 4/30/2018 at any time within 90 days following the occurrence of a Rating Agency Event or a Tax Event (see the prospectus for further information). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. This security was rated as Ba1 by Moody’s and BB+ by S&P at the date of its IPO. The Notes are unsecured and subordinated obligations of the company and will rank equally with all existing and future unsecured and subordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (PPL)
IPO - 3/12/2013 - 16.00 Million Notes @ $25.00 /note.
Link to IPO Prospectus
Market Value $400.0 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
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610-774-5151
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| Toll Free Phone Number |
800-345-3085 |
| CEO - William H. Spence |
CFO - Joseph P. Bergstein, Jr. |
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