APTV-A Aptiv PLC 5.50% Series A Mandatory Convertible Preferred Shares
Dividends on our Mandatory Convertible Preferred Shares will be payable on a cumulative basis when, as and if declared by our board of directors, or an authorized committee of our board of directors, at an annual rate of 5.50% of the liquidation preference of $100.00 per share. We may pay declared dividends in cash or, subject to certain limitations, in our ordinary shares, or in any combination of cash and ordinary shares, on March 15, June 15, September 15 and December 15 of each year, commencing on September 15, 2020 and ending on, and including, June 15, 2023. Each of our Mandatory Convertible Preferred Shares will automatically convert on the second business day immediately following the last trading day of the Settlement Period into between 1.0754 and 1.3173 of our ordinary shares (respectively, the “Minimum Conversion Rate” and “Maximum Conversion Rate”), each subject to anti-dilution adjustments. The number of our ordinary shares issuable on conversion of the Mandatory Convertible Preferred Shares will be determined based on the Average VWAP per ordinary share over the 20 consecutive trading day period (the “Settlement Period”) commencing on, and including, the 21st scheduled trading day immediately preceding June 15, 2023. At any time prior to June 15, 2023, holders may elect to convert each Mandatory Convertible Preferred Share into ordinary shares at the Minimum Conversion Rate of 1.0754 ordinary shares per Mandatory Convertible Preferred Share. If you elect to convert any Mandatory Convertible Preferred Shares during a specified period beginning on the effective date of a Fundamental Change (as defined herein), such Mandatory Convertible Preferred Shares will be converted into ordinary shares at the Fundamental Change Conversion Rate (as defined herein), and you will also be entitled to receive a Fundamental Change Dividend Make-whole Amount and Accumulated Dividend Amount. This security was issued by Aptiv Plc, whose common stock symbol is APTV.
$117.97 -2.18 (-1.81%)
As of 03/24/2023 16:00:00 EST IEX book CBOE book
Security Information
Category1: US Equity
Category2: Preferred stocks
Category3: Convertible
GICS sector: Consumer Discretionary
Industry: Auto Parts
Index country: Ireland
Country of incorporation: Jersey
IPO date: 06/16/2020
Outstanding shares: 10,000,000
Average volume: 1,045
Market cap: $1,090,950,000
Current dividend yield: 5.04% calculation
Coupon rate: 5.500%
Cumulative: Yes
Liquidation value: $100.00
Callable after: 01/01/1900
Maturity date: 06/15/2023
Prospectus: Read on SEC.gov
All SEC filings: SEC Edgar Online
Quarterly filings: 10-Q
Annual filings: 10-K
Sedol: BMHMX69