AMR Corporation Announces Its 4.5 Percent Senior Convertible Notes Due 2024 Have Become Convertible Into Shares of AMR Common Stock
AMR Corporation today announced that its 4.5 percent Senior Convertible Notes due 2024 have become convertible into shares of AMR common stock. As provided in the indenture under which the Notes were issued, the Notes have become convertible because the sale price of AMR's common stock for at least 20 trading days in a period of 30 consecutive trading days ending on the last trading day of the calendar quarter ended Dec. 31, 2006, was greater than 120 percent of the conversion price per share of AMR common stock on such last trading day.
The Notes are convertible into common stock at the conversion rate specified in, and otherwise in accordance with the terms of, the Notes and the indenture under which the Notes were issued, and they will remain convertible for so long as they are outstanding.
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