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NRG Energy Inc., 6.50% Equity Units due 5/18/04
Ticker Symbol: NRZEQ* CUSIP: 629377201 Exchange: OTOTC
* NOTE: This security is no longer trading as of 5/18/2004
QUANTUMONLINE.COM SECURITY DESCRIPTION: NRG Energy Inc., 6.50% Equity Units, stated amount $25 per unit, initially consisting of Corporate Units which include a stock purchase contract and a 6.50% senior debentures with a principal amount of $25. The stock purchase contract requires the holder to purchase for $25 a variable number of shares of NRG Energy Inc. common stock no later than 5/18/2004. The stock purchase settlement rate will be 0.7590 shares per unit if the then current market price is equal to or greater than $32.94 and 0.9259 shares per unit if the market price is equal to or less than $27.00. For market prices between those values the settlement rate will be $25 divided by the market value. Prior to the IPO of this security, the last reported sale price of the common stock on 3/07/2001 was $27.20. The senior debenture is due 5/16/2006 and is subject to reset and remarketing on the third business day prior to 2/17/2004. The Corporate Units pay quarterly distributions of 6.50% ($1.625) per annum on 2/16, 5/16, 8/16 & 11/16 to holders of record on the first day of the month in which the payment is due. The senior debentures 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 Corporate Units to Treasury Units by the substitution of a specified zero-coupon U.S. Treasury security for the senior debentures and to later recreate Corporate Units. See the IPO prospectus for extensive additional information on the equity units by clicking on the ‘Link to IPO Prospectus’ provided below. NRG Energy was acquired by Xcel Energy Inc. (NYSE: XEL) in an exchange offer completed 6/03/2002.
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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 |
OTOTCn
OTOTCps
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6.50%
$1.625
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$25.00
n.a.
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5/18/2004
5/16/2006
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B2
B+
11/07/2004
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0.7590@$32.94+
0.9259@$27.00-
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2/16, 5/16, 8/16 & 11/16
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 (NRG)
Notes: Oct. 29, 2002--NRG Energy, Inc., a wholly owned subsidiary of Xcel Energy (NYSE:XEL), announced it will not make the quarterly interest payment on the NRG 6.50 percent senior debentures due May 16, 2006 which trade with the associated purchase contracts as NRG corporate units (NYSE:NRZ).
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IPO - 3/9/2001 - 10.00 Million Units @ $25.00/unit.
Link to IPO Prospectus
Previous Ticker Symbol: NRZ Changed: 5/15/2003
Market Value $39.2 Million
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: 211 Carnegie Center, Princeton, NJ 08540 |
Main Phone Number |
609-524-4500 |
Fax Number |
609-524-4501 |
Investor Relations
Katy Sullivan
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609-524-4527
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Toll Free Phone Number |
800-241-4674 |
CEO - David Crain |
CFO - Robert C. Flexon |
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