eTrade 2009 Annual Report Download - page 146

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The face values of outstanding trusts at December 31, 2009 are shown below (dollars in thousands):
Trusts
Face
Value
Maturity
Date Annual Interest Rate
ETBH Capital Trust II $ 5,000 2031 10.25%
ETBH Capital Trust I 20,000 2031 3.75% above 6-month LIBOR
ETBH Capital Trust V, VI, VIII 51,000 2032 3.25%-3.65% above 3-month LIBOR
ETBH Capital Trust VII, IX—XII 65,000 2033 3.00%-3.30% above 3-month LIBOR
ETBH Capital Trust XIII—XVIII, XX 77,000 2034 2.45%-2.90% above 3-month LIBOR
ETBH Capital Trust XIX, XXI, XXII 60,000 2035 2.20%-2.40% above 3-month LIBOR
ETBH Capital Trust XXIII—XXIV 45,000 2036 2.10% above 3-month LIBOR
ETBH Capital Trust XXV—XXX 110,000 2037 1.90%-2.00% above 3-month LIBOR
Total $433,000
Other borrowings also includes $13.8 million and $18.8 million of margin collateral and $0.5 million and
$0.6 million of overnight and other short-term borrowings in connection with the Federal Reserve Bank’s term
investment option and treasury, tax and loan programs as of December 31, 2009 and 2008, respectively. The
Company pledged $17.6 million and $14.1 million of securities to secure these borrowings from the Federal
Reserve Bank as of December 31, 2009 and 2008, respectively.
NOTE 14—CORPORATE DEBT
The Company’s corporate debt by type is shown below (dollars in thousands):
December 31, 2009 Face Value Discount
Fair Value
Adjustment(1) Net
Interest-bearing notes:
Senior notes:
8% Notes, due 2011 $ 3,644 $ — $ — $ 3,644
7
3
⁄
8
% Notes, due 2013 414,665 (3,390) 21,473 432,748
7
7
⁄
8
% Notes, due 2015 243,177 (1,770) 11,225 252,632
Total senior notes 661,486 (5,160) 32,698 689,024
12
1
⁄
2
% Springing lien notes, due 2017 930,230 (189,838) 8,334 748,726
Total interest-bearing notes 1,591,716 (194,998) 41,032 1,437,750
Non-interest-bearing debt:
0% Convertible debentures, due 2019 1,020,941 — — 1,020,941
Total corporate debt $2,612,657 $(194,998) $41,032 $2,458,691
December 31, 2008 Face Value Discount
Fair Value
Adjustment(1) Net
Senior notes:
8% Notes, due 2011 $ 435,515 $ (1,763) $13,855 $ 447,607
7
3
⁄
8
% Notes, due 2013 414,665 (4,334) 32,435 442,766
7
7
⁄
8
% Notes, due 2015 243,177 (2,071) 13,183 254,289
Total senior notes 1,093,357 (8,168) 59,473 1,144,662
12
1
⁄
2
% Springing lien notes, due 2017 2,057,000 (460,515) 9,385 1,605,870
Total corporate debt $3,150,357 $(468,683) $68,858 $2,750,532
(1) The fair value adjustment is related to changes in fair value of the debt while in a fair value hedge relationship.
143