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Dominion Resources, 6.125% 2013 Series A Equity Units
Ticker Symbol: DCUA* CUSIP: 25746U703 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/01/2016
Security has been Called for: Friday, April 1, 2016
QUANTUMONLINE.COM SECURITY DESCRIPTION: Dominion Resources, Inc., 6.125% 2013 Series A Equity Units, stated amount $50 per unit, initially consisting of Corporate Units which include a stock purchase contract and a 1/20 undivided beneficial ownership interest in $1,000 principal amount of Dominion Resources, Inc. 2013 Series A 1.07% remarketable subordinated notes due 4/1/2021. The stock 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 4/1/2016 and pays a contract adjustment rate of 5.055% per annum. The stock purchase settlement rate will be 0.7660 shares per unit if the then current market price is equal to or greater than $65.27 and 0.9001 shares per unit if the market price is equal to or less than $55.55. 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 6/3/2013 was $55.55 per share. The stock purchase contract may be settled any time at the holder’s option and the company will deliver 0.9001 shares of common stock for each purchase contract. The note is due 4/1/2021 and is subject to reset and remarketing to commence no earlier than 12/15/2015. The Corporate Units pay quarterly distributions of 6.125% ($3.0625) per annum on 1/1, 4/1, 7/1 & 10/1 to holders of record on the record date which is one business day prior to the payment date while the securities remain in book-entry form (NOTE: the ex-dividend date is at least 2 business days prior to the record date). The Issuer 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 (see the prospectus for further information). 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 units and to later recreate Corporate Units. The units are unsecured suboridated debt and rank equally with the company's other unsecured subordinated debt. 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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6.13%
$3.0625
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$50.00
$50.00
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Called for
4/01/2016
4/01/2021
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NF NF
1/22/2016
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0.7660@$65.27+
0.9001@$55.55-
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1/1, 4/1, 7/1 & 10/1
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 - 6/3/2013 - 10.00 Million Units @ $49.00/unit.
Link to IPO Prospectus
Previous Ticker Symbol: DCUAU
Market Value $500.0 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
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804-819-2000
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Toll Free Phone Number |
Unknown |
CEO - Thomas F. Farrell, II |
CFO - Mark F. McGettrick |
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