Intel announced today that it has issued a notice of redemption to redeem on December 18, 2017 all of its outstanding 2.95% Junior Subordinated Convertible Debentures due 2035 (CUSIP Number 458140AC4) (the “Securities”). As of November 15, 2017, approximately $1.6 billion of the Securities was outstanding.
The Securities called for redemption will be redeemed at a stated redemption price equal to 100% of the aggregate principal amount of such Securities, plus accrued and unpaid interest to (but excluding) the redemption date.
The conversion rate of the Securities as of November 16, 2017 is 37.1860 shares of Intel common stock per $1,000 principal amount of the Securities, which is equivalent to a conversion price of $26.89 per share of common stock. The Securities called for redemption may be converted at any time before 5:00 p.m., New York City time, on December 15, 2017, the business day immediately preceding the redemption date. Intel has elected to settle the conversion obligation with respect to the Securities in cash.