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PPL Corp., 8.75% Equity Units
Ticker Symbol: PPL-W*     CUSIP: 69351T114     Exchange: NYSE
Security Type:   Mandatory Convertible Security
* NOTE: This security is no longer trading as of 5/01/14

QUANTUMONLINE.COM SECURITY DESCRIPTION:  PPL Corp., 8.75% Equity Units, stated amount $50 per unit, initially consisting of Corporate Units which include a stock purchase contract and a 1/20 interest in a 4.32% junior subordinated note issued by PPL Capital Funding Inc.and guaranteed by PPL Corp., with a principal amount of $1000. The stock purchase contract requires the holder to purchase for $50 a variable number of shares of PPL Corp. (NYSE: PPL) common stock no later than 5/1/2014 and pays a contract adjustment rate of 4.43% per annum. The stock purchase settlement rate will be 1.6133 shares per unit if the then current market price is equal to or greater than $30.99 and 1.9763 shares per unit if the market price is equal to or less than $25.30. For market prices between those values the settlement rate will be $50 divided by the market value. Prior to the IPO of this security, the last reported sale price of the common stock on 4/11/2011 was $25.69 per share. The notes are due 5/1/2019 and are subject to reset and remarketing in two tranches during the period between 1/30/2014 and 4/15/2014 (see the prospectus for further information). The Corporate Units pay quarterly distributions of 8.75% ($4.375) per annum on 2/1, 5/1, 8/1 & 11/1 to holders of record on the record date which will be 1/15, 4/15. 7/15 & 10/15 respectively (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Prior to May 1, 2016, PPL Capital Funding, Inc. will have the right to defer interest payments on the notes one or more times for one or more consecutive interest periods without giving rise to an event of default. Distributions paid by these securities are derived from interest paid on the underlying debt securities and therefore 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. The notes 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 notes and to later recreate Corporate Units. The notes are unsecured and subordinated and rank junior to the company's other unsecured senior indebtedness and equal to the company's junior subordinated indebtedness. See the IPO prospectus for extensive additional information on the equity units and their mandatory conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.
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
8.75%
$4.375
$50.00
n.a.
5/01/2014
5/01/2019
NF / NF
5/12/14
1.6163@$30.99+
1.9763@$25.30-
2/1, 5/1, 8/1 & 11/1
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No

Goto Parent Company's Record (PPL)

IPO - 4/12/2011 - 17.00 Million Units @ $50.00/unit.    Link to IPO Prospectus
Previous Ticker Symbol: PPLZU    Changed: 4/29/11
Market Value $ 937 Million

Company's Online Information Links
HOME PAGE:     http://www.pplweb.com/
Company's Investor Relations Information Goto Investor Relations Information
Company's Online News Releases Goto News Releases
Online Company Profile Goto Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Goto SEC Filings

Company's Email Address Links
Email Address invrel@pplweb.com
Email Request Form on Website Goto Email Form

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 610-774-5151
Toll Free Phone Number 800-345-3085
CEO - William H. Spence CFO - Paul A. Farr

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