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Unit To Redeem Jefferson-Pilot Securities

By Staff Writer

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Lincoln National Corp. says it will be calling for the redemption of $100 million in securities issued by a company it acquired, Jefferson-Pilot Corp.

Lincoln JP Holdings L.P. will be redeeming Capital Securities Series B securities that were issued in 1997 by Jefferson-Pilot Capital Trust B, which then was an arm of Jefferson-Pilot. The securities pay an interest rate 8.285%.

The Series B Capital Securities will be redeemed at a price of $1,041.43 per security, plus any accrued and unpaid distributions for the period up to but excluding the redemption date, Lincoln National says.

The redemption date is March 1.