Linear Technology Calls for Full Redemption of 3.00% Convertible Senior Notes Due May 1, 2027

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MILPITAS, Calif.--(BUSINESS WIRE)--

Linear Technology Corporation LLTC is calling today for redemption on May 1, 2014 all of the outstanding principal amount of its 3.00% Convertible Senior Notes due May 1, 2027 (the “Notes”). The aggregate principal amount of the Notes currently outstanding is approximately $845 million. The CUSIP numbers for the Notes being called for redemption are 535678AA4 and 535678 C02. Upon redemption, holders of the Notes will receive the principal amount of the Notes being redeemed. Accrued and unpaid interest on the Notes being redeemed will be paid to the holder of record of the Notes on April 15, 2014, the record date for the interest payment due on May 1, 2014.

The Notes are currently convertible as a result of the Company calling the Notes for redemption. Each $1,000 principal amount of the Securities is currently convertible at a rate of 24.582054 shares of the Company's common stock, par value $0.001 per share, with the conversion value settled in cash and common stock as provided in the Indenture for the Notes.

In addition, holders of the Notes have the right to require the Company to repurchase their Notes on May 1, 2014, at a purchase price equal to the principal amount of the Notes being repurchased. Accrued and unpaid interest on the Notes being repurchased will be paid to the holder of record of the Notes on April 15, 2014, the record date for the interest payment due on May 1, 2014.

A Notice of Redemption and a Notice of Repurchase at Option of Holder are being mailed to all registered holders of the Notes. Copies of the Notice of Redemption and the Notice of Repurchase at Option of Holder may be obtained from U.S. Bank National Association, the Paying Agent, by calling (213) 615-6043.

Linear Technology Corporation, a member of the S&P 500, has been designing, manufacturing and marketing a broad line of high performance analog integrated circuits for major companies worldwide for three decades. The Company's products provide an essential bridge between our analog world and the digital electronics in communications, networking, industrial, automotive, computer, medical, instrumentation, consumer, and military and aerospace systems. Linear Technology produces power management, data conversion, signal conditioning, RF and interface ICs, µModule® subsystems, and wireless sensor network products. For more information, visit www.linear.com.

Linear Technology Corporation
Paul Coghlan, 408-432-1900
Vice President, Finance, Chief Financial Officer

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Posted In: Press Releases
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