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Sempra Energy, 8.50% Equity Units due 5/17/05
Ticker Symbol: SRE-* CUSIP: 816851208 Exchange: NYSE
* NOTE: This security is no longer trading as of 5/17/2005
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Sempra Energy, 8.50% Equity Units, stated amount $25 per unit, initially consisting of Income Equity Units which include a stock purchase contract and a 5.60% senior note with a principal amount of $25. The stock purchase contract requires the holder to purchase for $25 a variable number of shares of Sempra Energy (NYSE: SRE) common stock no later than 5/17/2005 and pays a contract adjustment rate of 2.90% per annum. The stock purchase settlement rate will be 0.8190 shares per unit if the then current market price is equal to or greater than $30.5244 and 0.9992 shares per unit if the market price is equal to or less than $25.02. For market prices between those values the settlement rate will be $25 divided by the market value. The last reported sale price of the common stock on 4/24/2002 was $25.02. The senior note is due 5/17/2007 and is subject to reset and remarketing on or after 2/17/2005. The Income Equity Units pay quarterly distributions of 8.50% ($2.125) per annum on 2/17, 5/17, 8/17 & 11/17 to holders of record on the first day of the month in which the payment is due. 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 Equity Units to Growth Equity Units by the substitution of a specified zero-coupon U.S. Treasury security for the senior notes and to later recreate Income Equity Units. The senior notes are unsecured and rank equally with the company's other unsecured senior indebtedness. 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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8.50%
$2.125
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$25.00
N/A
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5/17/2005
5/17/2007
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Baa1
BBB+
11/09/2004
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0.8190@$30.5244+
0.9992@$25.02-
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2/17, 5/17, 8/17 & 11/17
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 (SRE)
IPO - 4/26/2002 - 22.00 Million Units @ $25.00/unit.
Link to IPO Prospectus
Market Value $547.0 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: 101 Ash Street, San Diego, CA 92101 |
| Main Phone Number |
619-696-2034 |
| Fax Number |
619-696-1814 |
| Shareholder Services
Karen Sedgwick
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877-736-7727
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| Toll Free Phone Number |
877-736-7721 |
| CEO - Stephen L. Baum |
CTL - F.H. Ault |
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