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Interpublic Group of Cos., 5 3/8% Mandatory Conv Preferred Stock A due 12/15/06
Ticker Symbol: IPG-A* CUSIP: 460690308 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/15/2006
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Interpublic Group of Cos., 5 3/8% Series A Mandatory Convertible Preferred Stock, liquidation preference $50 per share. The preferred shares are mandatorily convertible on 12/15/2006 into a variable number of Interpublic Group of Cos. (NYSE: IPG) common shares based on the then current price of the common shares for 20 consecutive trading days immediate prior to the conversion date. The conversion settlement rate will be 3.0358 shares per unit if the then current market price is equal to or greater than $16.47 and 3.7037 shares per unit if the market price is equal to or less than $13.50. 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 12/16/2003 was $13.77. The preferred shares are convertible any time at the holder’s option into 3.0358 shares of common stock. If the price of the common stock exceeds $24.71 for at least 20 of 30 trading days, the company may cause the conversion of the preferred stock into 3.0358 shares of common stock. Distributions of 5.375% ($2.6875) per annum will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the first calender day of the month in which the payment is due or on the date fixed by the board. In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds of the company and senior to the common shares of the company. See the IPO prospectus for further information on the mandatory convertible preferred stock 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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5.38%
$2.6875
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$50.00
N/A
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12/15/2006
12/15/2006
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Ba3
B-
12/16/2005
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3.0358@$16.47+
3.7037@$13.50-
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3/15, 6/15, 9/15 & 12/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
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YES
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Go to Parent Company's Record (IPG)
IPO - 12/17/2003 - 6.50 Million Shares @ $50.00/share.
Link to IPO Prospectus
Market Value $325.0 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: 1114 Avenue of the Americas, New York, NY 10036 |
| Main Phone Number |
212-704-1200 |
| Fax Number |
212-704-1201 |
| Investor Contact
Jerry Leshne
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212-704-1439
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Toll Free Phone Number |
Unknown |
| CEO - Michael I. Roth |
CFO - Frank Mergenthaler |
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