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Omnicare Inc. | Trust Preferred Income Equity Redeemable Securities (OCR.PRA)

Prospectus exerpt:  This is an offering by Omnicare Capital Trust I of its trust PIERS. Each trust PIERS has a stated liquidation amount and issue price of $50, representing an undivided beneficial interest in the assets of the Trust, which assets will consist solely of convertible subordinated debentures issued by Omnicare, Inc., each of which will have a principal amount at maturity of $50 and stated maturity of June 15, 2033.

Distributions on the trust PIERS will accumulate from the date of initial issuance and will be paid quarterly on March 15, June 15, September 15 and December 15 of each year, commencing on September 15, 2003. Distributions (other than contingent distributions) may be deferred for up to 20 consecutive quarterly periods, but not beyond the maturity date of the convertible debentures held by the Trust.

The trust PIERS will have a distribution rate of 4.00% per annum of their stated liquidation amount. During any quarterly period from March 15 to June 14, June 15 to September 14, September 15 to December 14 or December 15 to March 14, commencing with the quarterly period beginning June 15, 2009, the Trust will also pay contingent distributions of 0.125% of the average trading price of the trust PIERS if the average of such trading prices over a specified period equals 115% or more of the stated liquidation amount of the trust PIERS.

Full Prospectus PDF », OCR Page »

Call Date:6/15/2009 (Now Trading Post Call Date)
Maturity Date:6/15/2033
Conversion Ratio:1.2248
Conversion Price:$40.82
Shares Offered:6,000,000
Liquidation Preference:$50
Recent Market Price:$72.65
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$22.65 (45.30%)
Annualized Dividend:2.00
Recent Ex-Date:3/12/2014
Current Yield:2.76%
Original Coupon:4.000%
Pay Period:Quarterly
Pay Dates:15-Mar, 15-Jun, 15-Sep, 15-Dec
Omnicare is a healthcare services company that specializes in the management of complex pharmaceutical care. Co. operates two segments: Long-Term Care Group and Specialty Care Group. The Long-Term Care Group provides pharmaceuticals and related pharmacy and ancillary services to long-term care facilities as well as chronic care facilities and other settings. The Specialty Care Group provides specialty pharmacy, commercialization services for the biopharmaceutical industry and to end-of-life pharmaceutical care management for hospice care agencies.

Preferreds: OCR.PRA, OCR.PRB

Open the OCR Information Page »
Name:  Omnicare Inc.
Sector:  Diagnostics
Number of ETFs Holding OCR:  55 (see which ones)
Total Market Value Held by ETFs:  $290,134,416
Total Market Capitalization:  $5,764,000,000
% of Market Cap. Held by ETFs:  5.03%

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