|
Lincoln National Capital V, 7.65% TruPS Trust Preferred Securities, Series E
Ticker Symbol: LNC-V* CUSIP: 534042205 Exchange: NYSE
* NOTE: This security is no longer trading as of 11/19/2006
Security has been Called for: Sunday, November 19, 2006
Oct. 19, 2006 -- Lincoln National Corporation, the parent company of the Lincoln Financial Group of companies, today announced that it has called for redemption all of the $172.5 million outstanding 7.65% Trust Preferred Securities, Series E issued by Lincoln National Capital V (CUSIP No. 534042205) and guaranteed by Lincoln. "The decision to redeem the Series E TRuPS is part of an overall capital management plan that seeks to lower Lincoln's cost of capital," said Frederick J. Crawford, Chief Financial Officer of Lincoln National Corporation. The Series E TRuPS will be redeemed at a price of $25 per security, plus any accrued and unpaid distributions for the period up to but excluding the redemption date. The redemption date is November 19, 2006. The Series E TRuPS were issued in 2001 and are redeemable at Lincoln's option on or after November 19, 2006. Holders of the Series E TRuPS will receive official notice of the redemption by mail. The paying agent for the redemption of the Series E TRuPS is The Bank of New York Trust Company, N.A. Holders of Series E TRuPS may call Janice O. Rotunno of Bank of New York Trust Company, N.A. at (312) 267-5022 for more information.
|
|
QUANTUMONLINE.COM SECURITY DESCRIPTION: Lincoln National Capital V, 7.65% Trust Preferred Securities, Series E (TruPS), liquidation amount $25 per share, guaranteed by Lincoln National Corp. (NYSE: LNC), redeemable at the issuer's option on or after 11/19/2006 at $25 per share plus accrued and unpaid dividends, maturing 11/01/2050, distributions of 7.65%% per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record one business day prior to the payment date while the securities remain in book-entry form. The company has the right, at any time, to defer interest payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 7.65% Junior Subordinated Deferrable Interest Debentures, Series E due 11/01/2050 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
|
Go to Parent Company's Record (LNC)
IPO - 11/13/2001 - 6.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $150.0 Million
|
Company's Online Information Links
|
| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 150 N. Radnor Chester Road, Radnor, PA 19087 |
| Main Phone Number |
484-583-1400 |
| Fax Number |
484-583-3962 |
| Investor Relations
|
800-237-2920
|
| Toll Free Phone Number |
800-237-2920 |
| CEO - Dennis R. Glass |
CFO - Frederick J. Crawford |
Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.
|
|
