Liberty Interactive LLC ("Liberty"), a subsidiary of Liberty Interactive Corporation (Nasdaq: LINTA, LINTB), announced a semi-annual payment to the holders of its 3.5% Senior Exchangeable Debentures due in 2031 (the "Debentures"). The amount of the payment is $17.50 per $1,000 of original principal amount of the Debentures.
History of Changes to Reference Securities
|Date (on or about)||Corporate Event||Reference Securities Underlying Debenture||Shares per Bond|
|7/15/2001||Debenture issuance||Motorola Inc.||36.8189|
|12/2/2004||Motorola spins-offFreescale Semiconductorto shareholders||Motorola Inc. Freescale (Class B)||36.8189 MOT 4.0654 FSL.B|
|12/4/2006||Freescale taken private at$40 per share||Motorola Inc.||36.8189 MOT|
|1/4/2011||Motorola Inc. changesname, splits-off MotorolaMobility and effectsreverse stock split||Motorola Solutions Motorola Mobility||5.2598 MSI 4.6024 MMI|
|5/22/2012||Google buys MotorolaMobility for $40 per share||Motorola Solutions||5.2598 MSI|
Changes to Principal Amount
Under the Indenture for the Debentures, the principal amount of the Debentures is adjusted in an amount equal to each extraordinary distribution made to holders of the Debentures. Thereafter, the adjusted principal amount is further reduced on each successive semi-annual interest payment date to the extent necessary to cause the semi-annual interest payment to represent the payment of an annualized yield of 3.5% of the adjusted principal amount. This latter adjustment, to the extent it is made by reason of a particular extraordinary distribution that results in an adjustment to the principal amount of the Debentures, takes effect on the second succeeding interest payment date after the payment of that extraordinary distribution.
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