|
Aggregate Principal Amount: |
$150,000,000 |
|
Title of Securities: |
8.875% Senior Notes due 2019 |
|
Final Maturity Date: |
August 15, 2019 |
|
Issue Price: |
99.190% |
|
Coupon |
8.875% |
|
Yield-to-Maturity: |
9.000% |
|
Interest Payment Dates: |
February 15 and August 15 |
|
Record Dates: |
February 1 and August 1 |
|
First Interest Payment Date: |
February 15, 2010 |
|
Gross Proceeds: |
$148,785,000 million |
|
Underwriting Discount: |
$2,625,000 million |
|
Net Proceeds to Olin before Estimated Expenses: |
$146,160,000 million |
|
Net Proceeds to Olin after Estimated Expenses: |
$144,160,000 million |
|
Optional Redemption: |
Except as described below, the notes are not redeemable at Olin’s option until August 15, 2014.
The notes are subject to redemption, at Olin’s option, in whole or in part, at any time on or after August 15, 2014 upon not less than 30 nor more than 60 days’ prior notice at the following redemption prices (expressed as percentages of principal amount to be redeemed) set forth below, plus accrued and unpaid interest, if any,
to, but not including, the redemption date (subject to the right of holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date), if redeemed during the 12-month period beginning on August 15 of the years indicated below:
| |
|
Year |
Price | |
|
2014 |
104.438% | |
|
2015 |
102.958% | |
|
2016 |
101.479% | |
|
2017 and thereafter |
100.000%
| |
|
At any time prior to August 15, 2014, Olin may also redeem all or part of the notes, upon not less than 30 nor more than 60 days’ prior notice mailed by first class mail to each holder of notes at its registered address, at a redemption price equal to 100% of the principal amount of the notes redeemed, plus the Applicable Premium
as of, and accrued and unpaid interest to, the applicable redemption date (subject to the right of holder of record on the relevant record date to receive interest due on the relevant interest payment date).
“Applicable Premium” means, with respect to any note on any applicable redemption date, the greater of:
(1) 1.0% of the principal amount of such note; and
(2) the excess, if any, of:
(a) the present value at such redemption date of (i) the redemption price of such note at August 15, 2014 (such redemption price being set forth in the table appearing above) plus (ii) all required interest payments (excluding accrued and unpaid interest to such redemption date) due on such note through August 15, 2014 computed
using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points; over
(b) the principal amount of such Note.
“Treasury Rate” means, as of any redemption date, the yield to maturity at the time of computation of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) which has become
publicly available at least two Business Days prior to the redemption date (or, if such Statistical Release is no longer published, any publicly available source or similar market data)) most nearly equal to the period from the redemption date to August 15, 2014; provided, however, that if the period from the redemption date to August 15, 2014 is not equal to the constant maturity of a United States
Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given, except that if the period from the redemption date to August 15, 2014 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used.
| ||
|
Optional Redemption Upon Certain Equity Offerings: |
In addition, prior to August 15, 2012, Olin may, with the net proceeds of one or more Qualified Equity Offerings, redeem up to 35% of the aggregate principal amount of the outstanding notes (including any Additional Notes) at a redemption price equal to 108.875% of the aggregate principal amount thereof, plus accrued and unpaid interest
on those notes; provided, however that at least 65% of the principal amount of notes then outstanding (including Additional Notes) remains outstanding immediately after the occurrence of any such redemption (excluding notes held by the Company or its Subsidiaries) and
that any such redemption occurs within 90 days following the closing of any such Qualified Equity Offering . | |||
|
Underwriters: |
Citigroup Global Markets Inc., Banc of America Securities LLC and Wells Fargo Securities, LLC. | |||
|
Allocation: |
Name |
Principal Amount of Notes to be Purchased | ||
|
Citigroup Global Markets Inc. |
$67,500,000 | |||
|
Banc of America Securities LLC |
$67,500,000 | |||
|
Wells Fargo Securities, LLC |
$15,000,000 | |||
|
Trade Date: |
August 14, 2009 | |||
|
Settlement Date: |
August 19, 2009 (T+3) | |||
|
Distribution: |
SEC Registered (Registration No. 333-156082). | |||
|
CUSIP/ISIN Numbers: |
CUSIP: 680665 AG1
ISIN: US680665AG15 |
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Listing: |
None. |
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Other Financial Information: |
Other financial information presented in the Preliminary Prospectus Supplement is deemed to have changed to the extent affected by the changes described herein. |
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