PSA-K* - Public Storage, 8 1/4% Dep Shares…

Public Storage, 8 1/4% Dep Shares Cumul Preferred Stock, Series K (PSA-K*)

PSA-K* · NYSE · · CUSIP 74460D778

This security is no longer trading as of 1/20/2004.

The reference information below — security type, terms, ratings and company profile — is retained for research. Current pricing is not available.

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Security Details

Coupon Rate: 8.25%
Liquidation Preference: $25.00
Call Price: $25.00
Call / Redemption Date: 1/19/2004
Maturity Date: None
Distribution Period: Q
Rate Type: Fixed
Annual Distribution: 2.0625
Distribution Dates: 3/31, 6/30, 9/30 & 12/31
Credit Ratings: Moody's Baa1 · S&P BBB+ (6/28/2007)
Tax-Advantaged (Qualified) Dividends ⓘ: No

Security Profile

Security has been called for January 20, 2004.

Security Type: Traditional Preferred Stock »
CUSIP: 74460D778
Market Cap: Small Cap · $118 Million
IPO: 1/19/1999 · 4.6 Million Shares @ $25.00/share
Prospectus: IPO prospectus »
Parent Company: Public Storage, Inc. (PSA)

Links: Home Page Investor Relations News

Business: Public Storage Inc., Depositary Shares each representing 1/1,000 of a share of 8 1/4% Cumulative Preferred Stock, Series K, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 1/19/2004 at $25 per depositary share plus accrued and unpaid dividends, with no stated maturity, and with distributions paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the date fixed by the board, not more than 45 days or less than 15 days prior to the payment date. In regard to the payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.

Notes: Public Storage expects to use the net proceeds of the Series W and Series X preferreds to fund the redemption their 8.25% Series K Cumulative Preferred Stock ($115 million) which is redeemable on January 19, 2004, and their 8.25% Series L Cumulative Preferred Stock ($115 million) which is redeemable on March 10, 2004.

Company Contact

CEO: Ronald L. Havner, Jr.
CFO: E. John Reyes
Headquarters: 701 Western Avenue, Glendale, CA 91201
Phone: 818-244-8080 · Toll-Free 800-447-8673
Fax: 818-553-2388
Investor Relations: Ryan Burke · 818-244-8080 · investor@publicstorage.com
Email Form: Request Form »
SEC EDGAR Filings: View filings »