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ArcelorMittal 5.50% Mandatorily Convertible Sub Notes Due 05/18/2023
Ticker Symbol: MTCN*     CUSIP: 03938L302     Exchange: NYSE
Security Type:   Mandatory Convertible Security
* NOTE: This security is no longer trading as of 5/18/2023

QUANTUMONLINE.COM SECURITY DESCRIPTION:  ArcelorMittal 5.50% Mandatorily Convertible Subordinated Notes Due 05/18/2023, issued in $25 denominations.

The convertible notes are mandatorily convertible on 05/18/2023 into a variable number of ArcelorMittal (NYSE: MT) common shares based on the then current price of the common shares for 20 consecutive trading days immediately prior to the conversion date. The conversion settlement rate will be 2.29521 shares per unit if the then current market price is equal to or greater than $10.89 and 2.69687 shares per unit if the market price is equal to or less than $9.27. For market prices between those values the settlement rate will be $25 divided by the market value. The issue price of the common stock on 05/18/2020 was $9.27 per share.

Interest distributions of 5.50% per annum ($1.375 per annum or $0.34375 per quarter) will be paid quarterly on 2/18, 5/18, 8/18 & 11/18 to holders of record on the record date that will be 2/3, 5/3, 8/3 & 11/3 (NOTE: the ex-dividend date is one business day prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders.

The subordinated notes are convertible after 07/28/2020 at the holder’s option into 2.29521 shares of common stock. This security is possibly subject to an accelerated mandatory conversion at the manditory conversion rate of 2.69687 common shares plus a make-whole amount, as a result of the occurrence of a ratings event or other corporate events (see the prospectus for further information).

This security was not rated by Moody’s or S&P at the time of its IPO. The Notes are unsecured, subordinated obligations of the company and will rank junior to the company's senior debt, equally with all existing and future unsecured, subordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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
5.50%
$1.375
$25.00
$25.00
7/28/2020
5/18/2023
NR NR
11/03/2022
2.29521@$10.89+
2.69687@$9.27-
2/18, 5/18, 8/18 & 11/18
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No

Go to Parent Company's Record (MT)

IPO - 5/18/2020 - 50.00 Million Notes @ $25.00/note.    Link to IPO Prospectus
Market Value $1.3 Billion

Company's Online Information Links
HOME PAGE:     https://corporate.arcelormittal.com/
Company's Investor Relations Information Go to Investor Relations Information
Company's Online News Releases Go to News Releases
Online Company Profile Go to Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Go to SEC Filings

Company's Email Address Links
Email Address daniel.fairclough@arcelormittal.com

Foreign Address and Phone Numbers
Address:   24-26, Boulevard d’Avranches, L-1160 Luxembourg
Main Phone Number +352 4792-2484
Fax Number +352 4792 2235
Inv Rel Phone Number +352 4792 2484

Address and Phone Numbers
U.S. Representative Intl Steel Group
Address:   1 South Dearborn, Chicago, IL 60603
Main Phone Number 312-899-3985
Fax Number 312-899-3678
Toll Free Phone Number Unknown
CEO - Lakshmi Narayan Mittal CFO - Aditya Mittal

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