Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC Announce Early Tender Results and Pricing of Tender Offer for Debt Securities of E. I. du Pont de Nemours and Company

NEW YORK, April 27, 2015 /PRNewswire/ -- Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC (the "Purchasers") today announced the early tender results and pricing of their previously announced cash tender offers (each offer a "Tender Offer" and collectively, the "Tender Offers") to purchase a portion of the outstanding debt securities of E. I. du Pont de Nemours and Company ("DuPont") set forth in the table below (collectively, the "Notes" and each a "series" of Notes), up to a maximum aggregate purchase price (excluding accrued and unpaid interest) of $500,000,000 (the "Maximum Tender Payment"), subject to the acceptance priority levels set forth in the table below (the "Acceptance Priority Levels"), on the terms and conditions set forth in the Offer to Purchase dated April 13, 2015 and a related Letter of Transmittal dated April 13, 2015 (together, the "Tender Offer Materials").

As of the previously announced early tender date and time of 5:00 p.m., New York City time, on April 24, 2015 (the "Early Tender Date"), the principal amounts of Notes listed in the table below had been validly tendered and not withdrawn.  Holders who validly tendered and did not withdraw Notes by the Early Tender Date will be eligible to receive the applicable Total Consideration for Notes of that series set forth in the table below (which includes the applicable Early Tender Premium as set forth in the table below), subject to the application of Acceptance Priority Levels and proration as described below and in the Tender Offer Materials.

(1)   Per $1,000 principal amount of Notes.
(2)   Includes an Early Tender Premium of $30 per $1,000 principal amount of Notes.
(3)   In addition, payment for Notes purchased will include accrued and unpaid interest to, but excluding, the Settlement Date.

The applicable Tender Offer Consideration for each series was determined as described in the Tender Offer Materials, using the present value of future payments on the applicable Notes discounted at a rate equal to the sum of the applicable fixed spread and the yield based on the bid-side price of the applicable reference security as calculated by the Purchasers at 2:00 p.m., New York City time, today.

Subject to all conditions to the Tender Offers having been satisfied or waived by the Purchasers, the Purchasers currently expect to accept for purchase Notes validly tendered at or prior to the Early Tender Date for a combined aggregate purchase price (excluding accrued and unpaid interest) equal to the Maximum Tender Payment.  The settlement for the Notes accepted by the Purchasers is currently expected to occur on Tuesday, April 28, 2015 (the "Settlement Date").  The amount of each series of Notes that is to be purchased on the Settlement Date will be determined in accordance with the Acceptance Priority Levels and the proration procedures described in the Tender Offer Materials, subject in each case to the Maximum Tender Payment.  The Purchasers currently expect that all $151,815,000 principal amount of tendered Notes with Acceptance Priority Level 1 will be accepted, all $277,030,000 principal amount of tendered Notes with Acceptance Priority Level 2 will be accepted and $131,221,000 principal amount of tendered Notes with Acceptance Priority Level 3 will be subject to a proration factor of approximately 45%, resulting in $58,852,000 principal amount accepted.  No Notes with Acceptance Priority Levels 4 or 5 will be purchased pursuant to the Tender Offers.  Payment for Notes purchased will include accrued and unpaid interest to, but excluding, the Settlement Date.

The Withdrawal Deadline has passed and has not been extended.  Notes tendered pursuant to the Tender Offers may no longer be withdrawn, except as required by law.

The Tender Offers will expire at 11:59 p.m., New York City time, on May 8, 2015, unless extended or earlier terminated (as it may be extended or earlier terminated, the "Expiration Date").  However, since the Purchasers intend to purchase an amount of Notes equal to the Maximum Tender Payment on the Settlement Date, subject to the terms and conditions of the Tender Offers, Notes tendered after the Early Tender Date and prior to the Expiration Date will not be accepted for purchase, regardless of Acceptance Priority Level.

Except as described above, the Tender Offers are not modified by this announcement.

Requests for documents and questions regarding the procedures for tendering of Notes may be directed to D.F. King & Co., Inc. (the Tender Agent and Information Agent) toll free at (800) 283-2170 or collect at (212) 269-5550.  Questions regarding the terms of the Tender Offers may be directed to Credit Suisse Securities (USA) LLC at (800) 820-1653 (toll-free) or (212) 538-1862 (collect) and J.P. Morgan Securities LLC at (800) 245-8812 (toll-free) or (212) 270-1200 (collect).

This press release does not constitute an offer to purchase, a solicitation of an offer to purchase or a solicitation of an offer to sell securities.  The Purchasers are making the Tender Offers only by, and pursuant to the terms of, the Tender Offer Materials.  The complete terms and conditions of the Tender Offers are set forth in the Tender Offer Materials.

SOURCE Credit Suisse Securities (USA) LLC; J.P. Morgan Securities LLC