-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, TxHsDVlBGhL6z905MkFjwJ2207pp5rBSncFou0k+Gllyf/Yl0vYX1VlXwD12zN6+ cfjCS8bYOpqk+YueNnHb/g== 0000005907-94-000014.txt : 19940425 0000005907-94-000014.hdr.sgml : 19940425 ACCESSION NUMBER: 0000005907-94-000014 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19940422 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AT&T CORP CENTRAL INDEX KEY: 0000005907 STANDARD INDUSTRIAL CLASSIFICATION: 4813 IRS NUMBER: 134924710 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 033-49589 FILM NUMBER: 94523949 BUSINESS ADDRESS: STREET 1: 32 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 100132412 BUSINESS PHONE: 2126055500 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN TELEPHONE & TELEGRAPH CO DATE OF NAME CHANGE: 19920703 424B3 1 STICKER 1 Filed Pursuant to Rule 424 (b) (3) Registration No. 33-49589 Pricing Supplement No. 1 Dated: April 22, 1994 (To Prospectus date June 23, 1993 and Prospectus Supplement date October 8, 1993) AT&T Corp. Medium-Term Notes, Series A Due More than Nine Months From Date of Issue Floating Rate Note Principal Amount: $25,000,000 Agent: Salomon Brothers Inc acting as Principal Original Issue Date: April 26, 1994 Maturity Date: April 26, 1999 Issue Price: 100% (as a percentage of principal amount) Specified Currency: U.S. Dollars Note Form: Book-Entry Initial Interest Rate: The Initial Interest Rate will be determined on or about April 25, 1994 at 3:45 p.m. New York Time. The Initial Interest Rate will be the 2-year Constant Maturity Treasury Rate (as defined below) as of April 22, 1994 from Telerate p. 7055 or its successor page minus the spread described below. Type of Floating Rate Note: Regular Floating Rate Interest Rate following Initial Interest Rate: Base Rate minus spread described below Base Rate: The "Constant Maturity Treasury Rate" shall be the rate that is set forth in the Federal Reserve Board publication H.15(519) opposite the caption "U.S. Government/Securities/Treasury Constant Maturities/" in the Index Maturity with respect to the applicable Interest Determination Date (as defined elsewhere). If the H.15 (519) is no longer published, the "Constant Maturity Treasury Rate" shall be the rate that is set 2 forth on Telerate Page 7055, or its successor page (as determined by the Calculation Agent), for the applicable Interest Determination Date opposite the applicable Index Maturity. If no such rate is set forth, then the Constant Maturity Treasury Rate for such Interest Reset Date shall be established by the Calculation Agent as follows. The Calculation Agent will contact the Federal Reserve Board and request the Constant Maturity Treasury Rate, in the applicable Index Maturity, for the Interest Determination Date. If the Federal Reserve Board does not provide such information, then the Constant Maturity Treasury Rate for such Interest Reset Date will be the arithmetic mean of quotations reported by three leading U.S. government securities dealers (one of which may be the Calculation Agent), according to their written records, with reference to the 3:00 p.m. (New York Time) on the Interest Determination Date closing bid-side yield quotations for the noncallable U.S. Treasury Note that is nearest in maturity to the Index Maturity, but not less than exactly the Index Maturity and for the noncallable U.S. Treasury Note that is nearest in maturity to the Index Maturity, but not more than exactly the Index Maturity. The Calculation Agent shall calculate the Constant Maturity Treasury Rate by interpolating to the Index Maturity based on an Actual/Actual day count basis, the yield on the two Treasury Notes selected. If the Calculation Agent cannot obtain three such adjusted quotations, the Constant Maturity Treasury Rate for such Interest Determination Date will be the arithmetic mean of all such quotations, or if only one such quotation is obtained, such quotation, obtained by the Calculation Agent. In all events, the Calculation Agent shall continue polling dealers until at least one adjusted yield quotation can be determined. Index Currency: U.S. Dollar Index Maturity: Two Years Spread: 40 basis points Interest Reset Period: Quarterly 3 Maximum Interest Rate: N/A Minimum Interest Rate: 0.0% Interest Payment Date: Quarterly, on the 26ths of each January, April, July and October, commencing on July 26, 1994, provided that if any Interest Payment Date is not a Business Day, then interest will be paid on the next succeeding Business Day. Interest payments will include the amount of interest accrued from and including the most recent Interest Payment Date to which interest has been paid (or from and including the Original Issue Date if no interest has been paid on the Notes) to but excluding the applicable Interest Payment Date, without adjustment for changes in the Interest Payment Date if the scheduled Interest Payment Date is not a Business Day. Interest Reset Date: Quarterly, on the 26ths of each January, April, July, and October, commencing on July 26, 1994. Interest Determination Date: Ten New York business days prior to the Reset Date. Day Count Convention: Actual/Actual Accrual of Interest: Accrued interest from the Original Issue Date or from the last date to which interest has been paid with respect to any Note will be calculated by multiplying the face amount of such Note by an accrued Interest Factor. This accrued Interest Factor will be computed by adding the Interest Factors calculated for each day from the Original Issue Date or from the last date to which interest has been paid to the date for which accrued interest is being calculated. The "Interest Factor" for any Note for each such day will be computed by dividing the interest rate applicable to such day by the actual number of days in the applicable year. Calculation Date: The fifth Business Day after each Interest Determination Date. Calculation Agent: Salomon Brothers Inc Redemption: The Notes cannot be redeemed prior to maturity. 4 Repayment: The Notes cannot be repaid prior to maturity. Renewal: The Notes cannot be renewed by the investor. Extension: The Notes cannot be extended prior to maturity. Dual Currency Notes: The Company can not make payments in an optional currency. Original Issue Discount The Notes are not a Discount Note or an Original Issue Discount Note. Plan of Distribution The Agent has purchased the Notes as principal at 100% of the principal amount for resale at the issue price of 100% of principal amount. Taxation The following discussion of the United States federal income tax consequences of the ownership of the Notes supplements, and to the extent inconsistent with replaces, the discussion under the caption "Taxation" in the Prospectus Supplement dated October 8, 1993. Terms not defined herein have the same meanings as in the Prospectus Supplement. This discussion is based on regulations concerning the treatment of debt instruments issued with original issue discount (the "OID Regulations") and related provisions of the Code. The OID Regulations are effective for Notes issued on or after April 4, 1994. Under Section 1.1275-5 of the OID Regulations, as under the Proposed OID Regulations, the Notes will be treated as variable rate debt instruments and will not bear original issue discount. As a result, interest on a Note will be taxable to a United States Holder as ordinary income at the time that it is received or accrued, depending on the United States Holder's method of accounting. While the OID Regulations have amended many provisions of the Proposed OID Regulations, such amendments are not relevant to the Notes. -----END PRIVACY-ENHANCED MESSAGE-----