-----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, FfF7z7iqDJG2BGFEv/mj77lToClRJJ0WtBvhoxcuZ77AUl8N5sOg+jjS27zAhqdv 5j3MDENitxLJIzfZqKLDFw== 0000950134-95-001209.txt : 19950530 0000950134-95-001209.hdr.sgml : 19950530 ACCESSION NUMBER: 0000950134-95-001209 CONFORMED SUBMISSION TYPE: 424B5 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19950518 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: PENNEY J C CO INC CENTRAL INDEX KEY: 0000077182 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DEPARTMENT STORES [5311] IRS NUMBER: 135583779 STATE OF INCORPORATION: DE FISCAL YEAR END: 0126 FILING VALUES: FORM TYPE: 424B5 SEC ACT: 1933 Act SEC FILE NUMBER: 033-53275 FILM NUMBER: 95540729 BUSINESS ADDRESS: STREET 1: 6501 LEGACY DRIVE CITY: PLANO STATE: TX ZIP: 75024-3698 BUSINESS PHONE: 2144311000 424B5 1 PRICING SUPPLEMENT NO.1 DATED MAY 16, 1995 1 Filed Pursuant to Rule 424(b)(5) Registration Statement No. 33-53275 ------------------------------- PRICING SUPPLEMENT NO. 1 dated May 16, 1995 (To Prospectus dated April 29, 1994 and Prospectus Supplement dated July 1, 1994) U.S. $193,000,000 (Principal Amount) JCPENNEY Medium-Term Notes, Series A Due from Nine Months or More From Date of Issue [X] Book Entry Note [X] Fixed Rate [ ] Certificated Note [ ] Floating Rate Trade Date: May 16, 1995 Issue Price (As a Percentage of Principal Amount): ------------------------------------- Date of Issue: May 23, 1995 100% ---------------------------------- --------------------------------------------------- Interest Payment Date(s): March 15, September 15 ------------------------- Maturity Date: May 23, 2005 Fixed Interest Rate/Initial Interest Rate: ---------------------------------- Agent's Commission: .600% 7.05% ----------------------------- --------------------------------------------------- Net Proceeds to Issuer: $191,842,000 --------------------------- If Floating Rate indicate: [ ] Commercial Paper Rate Note, [ ] Prime Rate Note, [ ] LIBOR Note, [ ] Federal Funds Effective Rate Note, [ ] CD Rate Note, [ ] Treasury Rate Note or [ ] Other ------------ and complete the following: Interest Reset Dates: N/A Spread: N/A --------------------------- ------------------------------------------- Interest Payment Period: N/A Spread Multiplier: N/A ------------------------ -------------------------------- Interest Reset Period: N/A Maximum Interest Rate, if any: N/A -------------------------- --------------------- Interest Determination Dates: N/A Minimum Interest Rate, if any N/A ------------------- --------------------- Index Maturity: N/A Calculation Dates: N/A --------------------------------- -------------------------------- Calculation Agent: N/A --------------------------------
Redemption Information: Non-redeemable prior to stated maturity -------------------------------------------------------- If Note is denominated in a currency or currency unit other than U. S. dollars, see attachment. CS FIRST BOSTON MERRILL LYNCH & CO. J. P. MORGAN SECURITIES INC. MORGAN STANLEY & CO. Incorporated 2 Debt Securities, including Medium-Term Notes, Series A, may be issued by the Company in an aggregate principal amount of up to U.S. $1,500,000,000 or the equivalent in foreign currency or foreign currency units. To date, including this offering, an aggregate of U.S. $693,000,000, or the equivalent in foreign currency or foreign currency units of Medium- Term Notes, Series A, and all other Debt Securities, has been issued. Attachment to Pricing Supplement No. 1 ------------------------ Specified Currency or Currency Units: N/A ------------------------------------------ Payment by holder of purchase price in: [ ] the Specified Currency or [ ] U.S. dollars Exchange rate applicable to purchase price if payable in U.S. dollars of non-U.S. dollar denominated Note: U.S. $1.00 = N/A -------------------- Payments to the holder of principal, premium, if any, and interest in U.S. dollars (with an election by the holder to receive payments in the Specified Currency) N/A ------------- or such payments only in the Specified Currency (with no election by the holder to receive payments in U.S. dollars) N/A ------------------ Additional Terms: N/A RECENT DEVELOPMENTS The following financial information should be read in conjunction with the financial information contained in the Company's Annual Report on Form 10-K for the 52 weeks ended January 28, 1995. The Company's net income per share (fully diluted) for the 13 weeks ended April 29, 1995 declined 27.4% to 61 cents, as compared with 84 cents in the same 1994 period. Net income totaled $156 million, as compared with $223 million in the 1994 first quarter. Gross margin dollars for both stores and catalog declined due to the weak sales volume and increased promotional activity. As a per cent of retail sales, gross margin was 31.4%, as compared with 32.1% in the same period last year. Selling, general, and administrative ("SG&A") expenses increased 5.2% from last year's level. As a per cent of sales, SG&A expenses were 26.3% compared with 25.1% in the same 1994 period. The Company's annual earnings depend to a significant extent on the results of operations for the last quarter of its fiscal year. Accordingly, interim results may not be indicative of the results for the entire fiscal year. -----END PRIVACY-ENHANCED MESSAGE-----