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Stock Acquisition Rights and Bond Information
Stock Acquisition Rights (SARs)
Name
The first series of Common Stock
Acquisition Rights
The second series of Subsidiary
Tracking Stock Acquisition Rights
The third series of Common Stock
Acquisition Rights
The fourth series of Common Stock
Acquisition Rights
The fifth series of Subsidiary
Tracking Stock Acquisition Rights
The sixth series of Common Stock
Acquisition Rights
(Note)
Stock Acquisition Rights number 1 through 6 were issued at no cost for the purpose of granting stock options. The number of shares to be issued upon exercise of each Stock Acquisition Right is 100.
Convertible Bonds
Name
The fourth series of unsecured
convertible bonds
Euroyen-denominated notes with convertible bond-type
stock acquisition rights and conversion restrictions
U.S. Dollar convertible bonds
U.S. Dollar convertible bonds
U.S. Dollar convertible bonds
U.S. Dollar convertible bonds
(Notes) 1. The Stock Acquisition Rights of the bonds with Stock Acquisition Rights (principal amount of ¥250 billion) cannot be detached from the bonds, and the exercise of a Stock Acquisition Right causes the
corresponding Bond to be cancelled in lieu of a cash payment for purchase of shares. Due to this close interrelation between the bonds and Stock Acquisition Rights, and in consideration of the value of
the Stock Acquisition Rights and the economic value obtainable by issuing the bonds with the coupon, issue price and other terms of the issue, the Stock Acquisition Rights are issued at no cost.
2. All U.S. dollar convertible bonds were issued to provide equity-based compensation to certain executives in Sony's U.S. subsidiary companies. All U.S. dollar convertible bonds were issued for distribution
to certain executives in Sony Corporation's U.S. subsidiary companies as an equity-based incentive plan. Although the conversion ratio is 0% for all these bonds, the value of bonds issued does not
match the outstanding balance of bonds because Sony Corporation purchased and canceled a portion of these warrants that were not used for the incentive plan.
Bonds with Warrants
Name
The sixth series of unsecured bonds with warrants
The seventh series of unsecured bonds with warrants
The tenth series of unsecured bonds with warrants
The thirteenth series of unsecured bonds with warrants
The fourteenth series of unsecured bonds with warrants
for shares of Subsidiary Tracking Stock
(Note)
All bonds with warrants were issued for distribution to the directors and other executives of Sony Corporation as an equity-based incentive plan. The fourteenth series of unsecured bonds with warrants for
shares of Subsidiary Tracking Stock was issued for distribution to the directors and other executives of Sony Communication Network. Regarding the tenth series of unsecured bonds with warrants and the
thirteenth series of unsecured bonds with warrants, Sony Corporation canceled a portion of the warrants that were not used for the incentive plan. As a result, although the exercise ratio is 0% for both
issues, the value of bonds issued does not match the outstanding balance of warrants.
Straight Bonds
Name
The sixth (2) series of unsecured bonds
The seventh (2) series of unsecured bonds
The eighth (2) series of unsecured bonds
The eighth series of unsecured bonds
The ninth series of unsecured bonds
The eleventh series of unsecured bonds
The twelfth series of unsecured bonds
(Notes) 1. Sony Corporation assumed responsibility for the sixth (2) series of unsecured bonds, the seventh (2) series of unsecured bonds and the eighth (2) series of unsecured bonds as a result of its merger with
AIWA Corporation. Sony Corporation repurchased and canceled one hundred million yen of the eighth (2) series of unsecured bonds.
2. The interest rate of the eighth (2) series of unsecured bonds is calculated by subtracting 2-year interest rate swap from 20-year interest rate swap and then adding 1.00%. (If the result of this calculation
is negative, the interest rate is 0%.)
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Date of issue
(Exercise period)
SARs to be issued
December 9, 2002
(December 8, 2012)
December 9, 2002
(December 8, 2012)
March 31, 2003
(March 31, 2013)
November 14, 2003
(November 13, 2013)
November 14, 2003
(November 13, 2013)
March 31, 2004
(March 31, 2014)
Date of issue
Years
February 14, 1990
December 18, 2003
April 17, 2000
April 16, 2001
December 17, 2001
April 15, 2002
Date of issue
Years
August 17, 1998
August 23, 1999
October 19, 2000
December 21, 2001
December 21, 2001
Date of issue
October 23, 1998
July 26, 2000
July 26, 2000
September 13, 2000
September 13, 2000
September 17, 2001
September 17, 2001
(As of March 31, 2004)
Total number of
Exercise
price
12,004
¥5,396.00
455
¥1,008.00
14,475
U.S.$36.57
13,978
¥4,101.00
455
¥815.00
12,236
U.S.$40.90
Interest rate (%)
Total amount of issue
15
1.4
¥300,000
million
5
0
¥250,000
million
10
0
U.S.$57,331
thousand
10
0
U.S.$77,056
thousand
5
0
U.S.$57,307
thousand
10
0
U.S.$67,297
thousand
Interest rate (%)
Total amount of issue
6
0.03
¥4,000 million
6
0.1
¥4,000 million
6
1.55
¥12,000 million
6
0.9
¥7,300 million
6
0.9
¥150 million
Years
Interest rate (%)
7
2.00
7
1.99
10
(Note 2)
5
1.42
10
2.04
5
0.64
10
1.52
Outstanding
Percentage of
balance
SARs exercised (%)
12,004
0
455
0
14,475
0
13,978
0
455
0
12,236
0
Outstanding balance
Conversion price
(Percentage of bonds converted)
¥3,995.5
¥287,753 million
(4.1%)
¥5,605.0
¥250,000 million
(0.0%)
¥13,220.0
U.S.$49,707 thousand
(0.0%)
¥8,814.0
U.S.$60,014 thousand
(0.0%)
¥5,952.23
U.S.$57,134 thousand
(0.0%)
¥6,931.0
U.S.$50,612 thousand
(0.0%)
Outstanding balance
Conversion price
(Percentage of warrants exercised)
¥6,263.5
¥3,536 million
(11.6%)
¥7,166.5
¥4,000 million
(0%)
¥12,457.0
¥11,490 million
(0%)
¥6,039.0
¥6,920 million
(0%)
¥3,300.0
¥150 million
(0%)
Total amount of issue
Outstanding balance
¥15,000 million
¥15,000 million
¥15,000 million
¥15,000 million
¥5,000 million
¥4,900 million
¥100,000 million
¥100,000 million
¥50,000 million
¥50,000 million
¥100,000 million
¥100,000 million
¥50,000 million
¥50,000 million
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