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MetLife Capital Trust I, 8.00% Equity Security Units due 5/15/03
Ticker Symbol: MIU* CUSIP: 59156R207 Exchange: NYSE
* NOTE: This security is no longer trading as of 5/15/2003
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QUANTUMONLINE.COM SECURITY DESCRIPTION: MetLife Capital Trust I, 8.00% Equity Security Units, stated amount $50 per unit, initially consisting of normal units which include a stock purchase contract and an 8.00% capital security of MetLife Capital Trust I with a principal amount of $50. The purchase contract requires the holder to purchase for $50 a variable number of shares of MetLife Inc. (NYSE: MET) common stock no later than 5/15/2003. The stock purchase settlement rate will be 2.97 shares per unit if the then current market price is equal to or greater than $16.82 and 3.51 shares per unit if the market price is equal to or less than $14.25. For market prices between those values the settlement rate will be $50 divided by the market value. The last reported sale price of the common stock (the IPO price) on 4/06/2000 was $14.25. The capital security is due 5/15/2005 and is subject to reset and remarketing on the third business day prior to 2/15/2003. The normal units pay quarterly distributions of 8.00% ($4.00) per annum on 2/15, 5/15, 8/15 & 11/15 to holders of record one business day prior to the payment date while the securities remain in book-entry form. The capital securities are pledged as collateral to secure the holder's obligations under the stock purchase contract. The holder has the right at any time to convert the normal units to stripped units by the substitution of a specified zero-coupon U.S. Treasury security for the capital securities and to later recreate normal units. See the IPO prospectus for extensive additional information on the equity security units and their mandatory conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.
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Stock
Exchange |
Cpn Rate
Ann Amt |
LiqPref
CallPrice |
Call Date
Matur Date |
Moodys/S&P
Dated |
Conversion
Shares@Price |
Distribution Dates |
15%
Tax Rate |
NYSE
Chart
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8.00%
$4
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$50.00
n.a.
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5/15/2003
5/15/2005
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A2
A
4/16/2003
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2.97@$16.82+
3.51@$14.25-
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2/15, 5/15, 8/15 & 11/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
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No
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Go to Parent Company's Record (MET)
IPO - 4/6/2000 - 17.50 Million Units @ $50.00/unit.
Link to IPO Prospectus
Market Value $1.7 Billion
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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: 200 Park Avenue, New York, NY 10166 |
| Main Phone Number |
212-578-2211 |
| Fax Number |
212-578-3320 |
| Investor Relations
John McCallion
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212-578-7888
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| Toll Free Phone Number |
800-638-5433 |
| CEO - C. Robert Henrikson |
CFO - William J. Wheeler |
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