Amazon.com to redeem $500 million of 4.75% convertibles

By Jennifer Chiou

New York, May 9 - Amazon.com Inc. announced the redemption of $500 million of its 4.75% convertible subordinated notes due 2009 on June 9.

The Seattle-based online retailer said it will pay 100.475% of par plus accrued interest for the securities.

Following the redemption, Amazon.com will have $399 million of the convertibles outstanding.

Holders will be able to convert the notes into Amazon.com common stock up to June 6 at a price of $78.0275. Amazon stock closed at $72.41 on Friday.

Bank of New York is the trustee and paying agent (800 254-2826).

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