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Great Plains Energy, 8.00% FELINE PRIDES due 2/16/2007
Ticker Symbol: GXP-* CUSIP: 391164605 Exchange: NYSE
* NOTE: This security is no longer trading as of 2/16/2007
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Great Plains Energy, 8.00% FELINE PRIDES, stated amount $25 per unit, initially consisting of Income PRIDES which include a stock purchase contract and 1/40 of a 4.25% senior note with a principal amount of $1000. The stock purchase contract requires the holder to purchase for $25 a variable number of shares of Great Plains Energy Inc. (NYSE: GXP) common stock no later than 2/16/2007 and pays a contract adjustment rate of 3.75% per annum. The stock purchase settlement rate will be 0.7062 shares per unit if the then current market price is equal to or greater than $35.40 and 0.8333 shares per unit if the market price is equal to or less than $30.00. 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 6/08/2004 was $30.02. The senior note is due 2/16/2009 and is subject to reset and remarketing on the third business day prior to 8/16/2006. The Income PRIDES pay quarterly distributions of 8.00% ($2.00) per annum on 2/16, 5/16, 8/16 & 11/16 to holders of record on 2/1, 5/1, 8/1 & 11/1 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 Income PRIDES to Growth PRIDES by the substitution of a specified zero-coupon U.S. Treasury security for the senior notes and to later recreate Income PRIDES. The notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for extensive additional information on the FELINE PRIDES 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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8.00%
$2
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$25.00
N/A
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2/16/2007
2/16/2009
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Baa2
BBB-
12/15/2005
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0.7062@$35.40+
0.8333@$30.00-
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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 (GXP)
Notes: Great Plains Energy Inc. became the successor issuer of all of KCPL shares on 10/1/2001.
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IPO - 6/9/2004 - 6.00 Million Units @ $25.00/unit.
Link to IPO Prospectus
Market Value $150.0 Million
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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: 1201 Walnut Street, Kansas City, MO 64106 |
| Main Phone Number |
816-556-2200 |
| Fax Number |
816-556-2992 |
| Investor Relations
Ellen Fairchild
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816-556-2083
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| Toll Free Phone Number |
800-245-5275 |
| CEO - Michael J. Chesser |
CFO - Terry Bassham |
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