This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Textron Inc. Announces Its 4.5% Convertible Senior Notes Due 2013 Convertible At Holder’s Discretion

Textron Inc. (NYSE: TXT) (“Textron”) announced today that its 4.5% Convertible Senior Notes due 2013 (CUSIP #883203BN0) (the “Notes”) will be convertible at the option of the holders through September 30, 2012, the last day of the third calendar quarter, as provided in the Indenture, dated as of September 10, 1999, between Textron and The Bank of New York Mellon Trust Company, N.A., as Trustee, as supplemented by the Supplemental Indenture, dated as of May 5, 2009 (the “Indenture”).

The Notes will be convertible because Textron’s common stock price exceeded the conversion threshold price of $17.06 per share (130 percent of the applicable conversion price of $13.125 per share) for at least 20 trading days during the 30 consecutive trading days ending June 29, 2012.

As a result, during the third calendar quarter, holders of the Notes may elect to convert some or all of their Notes. Whether the Notes will be convertible at any time after September 30, 2012 will depend on whether any of the conversion conditions specified in the Indenture are satisfied, including whether the price of Textron’s common stock exceeds the conversion threshold price for the requisite number of trading days during subsequent quarters.

The Company may deliver shares of common stock, cash or a combination of cash and shares of common stock in satisfaction of its obligations upon conversion of the Notes.

Holders of Notes may obtain further information on how to convert their Notes by contacting the conversion agent at the following address:

Bank of New York Mellon Corporation Corporate Trust Operations Reorganization Unit 101 Barclay Street - 7 East New York, N.Y. 10286 Attn: Ms. Diane Amoroso

This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell any Notes or Textron’s common stock.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,697.32 -183.04 -1.08%
S&P 500 1,943.91 -26.16 -1.33%
NASDAQ 4,390.8170 -72.0850 -1.62%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs