First Security Capital and Income Fund N.V. - Lehman Brothers Collection

First Security Capital and Income Fund N.V.

List of Deals

1969 160,000 capital shares and $24,000,000 7% debentures due 1981, with warrants to purchase 24,000 participating cumulative preference shares

First Security Capital and Income Fund was a closed-end investment company incorporated in Curacao, Netherlands Antilles, in February 1969. The fund went public in March 1969 with a sale of both capital shares and units. The units consisted of one debenture in the principal amount of $1,000 and one warrant, expiring May 1, 1969, giving the holder the right to purchase a "preference" share" for $10.

The purpose of the fund's capital structure was to provide investment leverage for both the holders of preference capital shares, by offering current income from the combined capital base to holders of the debentures, and preference shares and long-term growth of principal to holders of the capital shares.

The fund was managed by Baden Securities International Corporation of New York.