NEW YORK, July 17, 2019 /PRNewswire/ -- Origen Phoenix LLC
(the "Purchaser") has commenced a cash tender offer for any and all
outstanding PPLUS Class A 6.30% Callable Trust Certificates Series
RRD-1, PPLUS Trust Series RRD-1 (CUSIP No. 73941X593) (NYSE symbol
PYS) (Bloomberg symbol PYS Pfd) (the "Certificates") as described
below (the "Tender Offer"). The terms and conditions of the
Tender Offer are described in the Purchaser's Offer to Purchase
dated July 12, 2019 (the "Offer to
Purchase") and the related Letter of Transmittal (the "Letter of
Transmittal").
The Tender Offer will expire at 5:00p.m.
EST, on August 21, 2019 unless
extended or earlier terminated (the "Expiration Time").
Holders who validly tender (and who do not validly withdraw) their
Certificates prior to the Expiration Time will be entitled to
receive $18.00 for each $25.00 principal amount of the
Certificates. Holders will not receive any accrued and unpaid
interest on their Certificates that are accepted for purchase in
the Tender Offer.
The Tender Offer is subject to the conditions in the Offer to
Purchase and the Letter of Transmittal. Provided that the
conditions to the Tender Offer have been satisfied or waived,
payment for the Certificates purchased in the Tender Offer will be
made on or about August 28, 2019.
This press release is neither an offer to purchase nor a
solicitation of an offer to sell the Certificates. The
Purchaser is making the offer only by the terms of the Offer to
Purchase and the Letter of Transmittal, copies of which may be
obtained from D.F. King & Co., Inc., the tender and information
agent for the Tender Offer, at pplus@dfking.com or (877) 896-3199
or, for banks and brokers, at (212) 269-5550.
About Origen Phoenix LLC
Origen Phoenix LLC was incorporated in New York in 2016 and is not affiliated
with the trust which issued the Certificates.
Forward-Looking Statements
This press release contains forward-looking statements, including
those related to the completion of the Tender Offer.
Forward-looking statements involve many risks and uncertainties
that could significantly affect anticipated results in the
future. The Purchaser is not under any obligation to update
its forward-looking statements as a result of new information,
future events or otherwise, except as required by law.
Source: Origen Phoenix LLC
View original
content:http://www.prnewswire.com/news-releases/cash-tender-offer-for-pplus-class-a-6-30-callable-trust-certificates-series-rrd-1--pplus-trust-series-rrd-1--nyse-symbol-pys-cusip-no-73941x593-at-18-00-per-certificate-300886640.html
SOURCE Origen Phoenix LLC