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PPL Capital Funding, 7 3/4% Series B PEPS Units due 5/18/2004
Ticker Symbol: PPL-F* CUSIP: 69351T304 Exchange: NYSE
* NOTE: This security is no longer trading as of 5/18/2004
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QUANTUMONLINE.COM SECURITY DESCRIPTION: PPL Capital Funding Trust I, 7 3/4% Premium Equity Participating Security (PEPS) Units, stated amount $25 per unit, initially consisting of PEPS Units which include a stock purchase contract and a 1/40 interest in a 7.29% PPL Capital Funding Inc. note with a principal amount of $1000 due 2006. The stock purchase contract requires the holder to purchase for $25 a variable number of shares of PPL Corp. (NYSE: PPL) common stock no later than 5/18/2004 and pays a contract adjustment rate of 0.46% per annum. The stock purchase settlement rate will be 0.3910 shares per unit if the then current market price times 1.017 is equal to or greater than $65.03 and 0.4770 shares per unit if the market price time 1.017 is equal to or less than $53.30. For market prices times 1.017 between those values the settlement rate will be $25 divided by the market value. The note is due 5/18/2006 and is subject to reset and remarketing on or after 2/18/2004. The PEPS Units pay quarterly distributions of 7.75% ($1.9375) per annum on 2/18, 5/18, 8/18 & 11/18 to holders of record on the first day of the month in which the payment is due. The note is pledged as collateral to secure the holder's obligations under the stock purchase contract. Until 5/17/2004, the holder has the right at any time to convert the PEPS Units to Treasury PEPS Units by the substitution of a specified zero-coupon U.S. Treasury security for the trust preferred securities and to later recreate PEPS Units. See the IPO prospectus for extensive additional information on the PEPS 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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7.75%
$1.9375
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$25.00
n.a.
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5/18/2004
5/18/2006
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Baa3
BBB
2/17/2004
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n.a.
n.a.
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2/18, 5/18, 8/18 & 11/18
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 (PPL)
Notes: The 7 3/5% Series B PEPS units were issued in exchange for the PPL-E PEPS Units in January 2004.
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IPO - 1/7/2004 -
Link to IPO Prospectus
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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 - William F. Hecht |
CFO - John R. Biggar |
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