Summary
PepsiCo, Inc. (PEP), through its subsidiary Hillbrook, Inc., announced its intention to redeem all outstanding shares of its 5.90% Cumulative Preferred Stock, Series A (Hillbrook Preferred Stock). This action involves 500 shares with a redemption price of approximately $100,721.11 per share, totaling around $50.4 million. The redemption is scheduled for December 29, 2017. This redemption is a routine financial maneuver that will impact a specific class of preferred shareholders. Investors holding this particular series of preferred stock should be aware of the redemption date and price. For those not holding this specific security, this filing has limited direct impact on the common stock or overall financial health of PepsiCo, as it pertains to a subsidiary's specific financing instrument. Further details and official redemption notices should be obtained directly from the transfer agent, Computershare Inc.
Key Highlights
- 1PepsiCo's subsidiary, Hillbrook, Inc., will redeem all 500 outstanding shares of its 5.90% Cumulative Preferred Stock, Series A.
- 2The redemption price is set at approximately $100,721.11 per share, including accumulated and unpaid dividends.
- 3The aggregate redemption price for all shares amounts to approximately $50.4 million.
- 4The redemption date for this preferred stock is scheduled for December 29, 2017.
- 5This announcement is made under Regulation FD disclosure, ensuring broad dissemination of material information.
- 6Holders of the affected preferred stock should contact Computershare Inc. for the official redemption notice and further details.
- 7This filing is furnished and not deemed 'filed' for purposes of Section 18 of the Exchange Act.