OREANDA-NEWS. United Airlines, Inc. (formerly known as Continental Airlines, Inc., the "Company") on Sept. 19 announced that it has elected to effect an optional redemption of its remaining outstanding 6.0 percent Convertible Junior Subordinated Debentures Due 2030 (the "Debentures") on Oct. 10, 2014, (the "Redemption Date") at a price equal to USD 50 per USD 50 principal amount of the Debentures, and that, upon such redemption, the proceeds will be simultaneously applied to redeem the remaining outstanding TIDES.

The TIDES are convertible into shares of common stock of United Continental Holdings, Inc. (NYSE: UAL), the parent of the Company. The current conversion price of the TIDES is USD 57.1429 per share of common stock for each USD 50 principal amount of Debentures (equivalent to a conversion rate of approximately 0.8750 shares of UAL common stock for each USD 50 in aggregate principal amount of Debentures). Holders will retain the right to convert their TIDES (or portions thereof) into UAL common stock until 5 p.m. New York City time on Oct. 9, 2014, which is the business day immediately preceding the Redemption Date.