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Travelers Property Casualty 4.50% Conv Junior Subordinated Notes due 4/15/2032
Ticker Symbol: TPK* CUSIP: 89420G307 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/18/2007
Security has been Called for: Wednesday, April 18, 2007
March 13, 2007 -- The Travelers Companies, Inc. has called for redemption all of its outstanding 4.50% Convertible Junior Subordinated Notes due 2032. The Notes (CUSIP 89420G307) trade on the New York Stock Exchange under the symbol "TPK". The Notes were originally issued by Travelers Property Casualty Corp. The Travelers Companies, Inc. assumed certain obligations relating to the Notes pursuant to a Second Supplemental Indenture dated April 1, 2004. Each Note has a principal amount of $25.00. The redemption date will be April 18, 2007, and the redemption price for each Note will be $25.5625 plus $0.009375 of accrued and unpaid interest. The normal quarterly interest payment to be paid on April 16, 2007, will be paid to record holders of April 1, 2007, in the amount of $0.28125 per Note. Any Note called for redemption may be surrendered for conversion into common stock before the close of business on April 17, 2007. Each Note is convertible into 0.4684 shares of common stock of The Travelers Companies, Inc. Beneficial owners who hold their Notes through The Depository Trust Company (DTC) should surrender their Notes for conversion through DTC's facilities in accordance with DTC's procedures. __________ From page 152 of the 10-K filed with the SEC on 2/27/2006 by St. Paul Travelers Companies, Inc. (NYSE: STA): The notes are now convertible into shares of St. Paul Travelers Cos., Inc. (NYSE: STA) common stock at a conversion rate of 0.4684 shares of common stock for each $25.00 principal amount of notes (equivalent to an initial conversion price of $53.37 per share of St. Paul Travelers Cos., Inc. common stock), subject to adjustment in certain events.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Travelers Property Casualty Corp., now part of St. Paul Travelers Cos., Inc. (NYSE: STA), 4.5% Convertible Junior Subordinated Notes due 2032, issued in $25 denominations, redeemable at the issuer's option on or after 4/18/2007 at $25 per share plus accrued and unpaid interest, maturing 4/15/2032, distributions of 4.50% ($1.125) per annum are paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on 1/1, 4/1, 7/1 & 10/1 respectively. 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 notes were originally convertible into 1.0808 shares of class a common stock (an initial conversion price of $23.13 per share) any time after 3/27/2003 if the price is more than 20% above the conversion price. See the note below for information of the current conversion rate. See the IPO prospectus for further information on the notes and 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 |
Conv Shrs Conv Price |
Distribution Dates |
15% Tax Rate |
NYSE
Chart
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4.50%
$1.125
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$25.00
$25.00
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Called for
4/18/2007
4/15/2032
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Baa1
BBB-
12/29/2005
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0.4684
$53.37
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1/15, 4/15, 7/15 & 10/15
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 (TRV)
IPO - 3/22/2002 - 34.00 Million Notes @ $25.00/note.
Link to IPO Prospectus
Market Value $823.0 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: 385 Washington Street, St. Paul, MN 55102 |
| Main Phone Number |
651-310-7911 |
| Fax Number |
651-310-3386 |
| Investor Relations
Laura Gagnon
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800-328-2189
Ext: 7696
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| Toll Free Phone Number |
800-328-2189 |
| CEO - Jay S. Fishman |
CFO - Thomas A. Bradley |
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