SECURITY DESCRIPTION: Revlon Inc., Series A Preferred Stock, liquidation preference $5.21 per share, not subject to early redemption by the company, and mandatorily redeemable after 4 years from the date of issue (10/8/09) at $5.21 per share plus accrued and unpaid dividends. Cumulative distributions of 12.75% ($0.473025) per annum are paid quarterly on 1/8, 4/8, 7/8 & 10/8 to holders of record on the record date fixed by the Board no more than 60 days prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Holders of Series A Preferred Stock will receive cash payments of approximately $7.87 over the four-year term of the preferred stock, through the payment of 12.75% annual dividends in cash, and a $5.21 per share liquidation preference at maturity (assuming Revlon does not engage in one of certain specified change of control transactions during that period). If Revlon engages in one of certain specified change of control transactions within three years of consummation of the Exchange Offer, holders of Series A Preferred Stock will have the right to receive a special dividend, capped at an amount that would provide aggregate cash payments of up to $12.00 per share (including the liquidation preference and any dividends paid or payable in respect of the Series A Preferred Stock). See the IPO prospectus for further information on this very complicated and difficult to understand preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
