Preferred Stock Channel
Goodyear Tire & Rubber Co. | 5.875% Mandatory Convertible Preferred Stock (GTPPP)

Prospectus excerpt:  We are offering to sell 8,700,000 shares of our 5.875% mandatory convertible preferred stock through this prospectus supplement and the accompanying prospectus.

Quarterly dividends on each share of the mandatory convertible preferred stock will accrue at a rate of 5.875% per year on the initial liquidation preference of $50.00 per share (equivalent to $2.9375 per annum per share). Dividends will accrue and accumulate from the date of issuance and, to the extent that we are legally permitted to pay a dividend and our board of directors or an authorized committee of our board of directors declares a dividend payable, we will pay dividends in cash on January 1, April 1, July 1 and October 1 of each year through, and including, April 1, 2014. The initial dividend will be payable on July 1, 2011.

Each share of the mandatory convertible preferred stock has a liquidation preference of $50.00, plus an amount equal to the sum of all accrued and unpaid dividends.

Each share of the mandatory convertible preferred stock will automatically convert on April 1, 2014 into between 2.7454 and 3.4317 shares of our common stock, subject to adjustment as described herein, depending on the average VWAP (as defined herein) per share of our common stock for the 20 consecutive trading-day period ending on, and including, the third trading day immediately preceding the mandatory conversion date. At any time prior to April 1, 2014, holders may elect to convert shares of the mandatory convertible preferred stock at the minimum conversion rate of 2.7454 shares of our common stock, subject to adjustment as described herein. During a specified period, in connection with a fundamental change (as defined herein) that occurs prior to the mandatory conversion date, holders may convert their shares of mandatory convertible preferred stock into a number of shares of our common stock equal to the applicable fundamental change conversion rate (as defined herein). If we at any time have not paid the equivalent of six full quarterly dividends (whether or not consecutive and whether or not earned or declared) on any series of our preferred stock at the time outstanding, including the mandatory convertible preferred stock, we may, at our option, cause all, but not less than all, outstanding shares of the mandatory convertible preferred stock to be automatically converted into a number of shares of our common stock based on the fundamental change conversion rate (as described above). Upon conversion, we will also pay converting holders the sum of an amount in cash equal to all accrued and unpaid dividends, whether or not previously declared, on the converted shares of mandatory convertible preferred stock and, in the case of a conversion upon a fundamental change or a conversion following nonpayment of dividends only, the present value of all remaining dividend payments on the converted shares of mandatory convertible preferred stock.

Full Prospectus PDF », Secondary Prospectus PDF », GT Page »

Redeemable?:Yes
Call Date:4/1/2014 (Now Trading Post Call Date)
Maturity Date:4/1/2014
Cumulative?:Yes
Conversion Ratio:2.7454 to 3.4317
Conversion Price:$14.57 to $18.21
Shares Offered:8,700,000
Overallotment:1,300,000
Liquidation Preference:$50.00
Original Coupon:5.875%
Pay Period:Quarterly
Pay Dates:1-Jan, 1-Apr, 1-Jul, 1-Oct
CDx3 Compliance Rating: Learn GTPPP's Rating
Goodyear Tire & Rubber is a manufacturer of tires. Co. develops, manufactures, distributes and sells tires for various applications. Co. also manufactures and sells rubber-related chemicals for various applications. Co. is an operator of commercial truck service and tire retreading centers. Co. operates various retail outlets where it provides its products for sale to consumer and commercial customers and provides repair and other services. Co. operates its business through the following operating segments representing its regional tire businesses: Americas; Europe, Middle East and Africa; and Asia Pacific.

Preferred: GTPPP


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Name:  Goodyear Tire & Rubber Co.
Website:  www.goodyear.com
Sector:  Rubber & Plastics
Number of ETFs Holding GT:  47 (see which ones)
Total Market Value Held by ETFs:  $644,406,147.29
Total Market Capitalization:  $3,459,000,000
% of Market Cap. Held by ETFs:  18.63%

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