5%Proposed Debt SecuritySeries D Discounted Corporate Debenture
- Purchase Structure
- Illustrative purchase at approximately 5% below stated principal
- Stated Term
- Up to 30-year maturity, subject to definitive terms
- Principal Prepayment
- Voluntary principal prepayment without premium or penalty, if approved
- Participation Levels
- Minimum, maximum and institutional tiers pending approval
Proceeds would be corporate capital for authorized company and project purposes. Borrowed proceeds are not gifts to, or capital of, the Endowment Fund.
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- Preliminary Share Price
- $1,000 per common share, subject to approved offering documents
- Economic Character
- Equity—not a contribution, deposit or guaranteed return
- Liquidity
- Restricted security; no public market, assured transfer or redemption promise
- Endowment Allocation
- Only if separately authorized, disclosed and documented
Any allocation of equity proceeds to the Endowment Fund requires governing authorization, offering disclosure, accounting and tax treatment, and securities-counsel approval.
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