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Dominion Resources, 9.50% PIES Prem Inc Equity Sec 11/16/04
Ticker Symbol: DCP*** CUSIP: 25746U208 Exchange: NYSE
* NOTE: This security is no longer trading as of 11/16/2004
QUANTUMONLINE.COM SECURITY DESCRIPTION: Dominion Resources Inc, Premium Income Equity Securities (PIES), stated amount $50 per unit, initially consisting of Corporate PIES Units which include a stock purchase contract and a 8.05% senior note with a principal amount of $50. The purchase contract requires the holder to purchase for $50 a variable number of shares of Dominion Resources Inc. (NYSE: D) common stock no later than 11/16/2004 and pays a contract adjustment rate of 1.45% per annum. The purchase settlement rate will be 0.8170 shares per unit if the then current market price is equal to or greater than $61.20 and 0.9804 shares per unit if the market price is equal to or less than $51.00. 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 on 10/05/2000 was $51.00. The senior note is due 11/15/2006 and is subject to reset and remarketing on the third business day prior to 11/15/2004. The Corporate PIES Units pay quarterly distributions of 9.50% ($4.75) 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 senior 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 PIES Units to Treasury PIES Units by the substitution of a specified zero-coupon U.S. Treasury security for the senior notes and to later recreate Corporate PIES Units. The senior notes are unsecured and rank equally with the company's other unsecured senior 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.
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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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9.50%
$4.75
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$50.00
N/A
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11/16/2004
11/15/2006
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Baa1
BBB+
7/05/2004
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0.8170@$61.20+
0.9804@$51.00-
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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 (D)
IPO - 10/6/2000 - 7.50 Million Units @ $50.00/unit.
Link to IPO Prospectus
Market Value $447.0 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: 120 Tredegar Street, Richmond, VA 23219 |
Main Phone Number |
804-819-2000 |
Fax Number |
804-819-2205 |
Investor Relations
Laura Kottkamp
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804-819-2254
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Toll Free Phone Number |
800-552-4034 |
CEO - Thomas F. Farrell, II |
CFO - Thomas N. Chewning |
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