MAGNACHIP SEMICONDUCTOR Corp — Director's Dealing 2017

Jan 23, 2017

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: MAGNACHIP SEMICONDUCTOR Corp (MX)
CIK: 0001325702
Period of Report: 2017-01-17

Reporting Person: Brigade Leveraged Capital Structures Fund Ltd. (10% Owner)
Reporting Person: BRIGADE CAPITAL MANAGEMENT, LP (10% Owner)
Reporting Person: MORGAN DONALD E III (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.01 per share	3130000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
5.00% Exchangeable Senior Notes due 2021	$8.26	2021-03-01	Common Stock, par value $.01 per share (1726227)		Direct
5.00% Exchangeable Senior Notes due 2021	$8.26	2021-03-01	Common Stock, par value $.01 per share (1181102)		Indirect

Footnotes

F1: The reported securities are directly owned by Brigade Leveraged Capital Structures Fund Ltd. (the "Fund") and may be deemed beneficially owned by Brigade Capital Management, LP, the investment manager of the Fund and Donald E. Morgan III, the managing member of Brigade Capital Management, LP's general partner, each a Reporting Person. Brigade Capital Management, LP and Mr. Morgan each disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that each Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

F2: The 5.00% Exchangeable Senior Notes due 2021 (the "Convertible Notes") bear interest at a rate of 5.00% per annum, with interest payable semiannually. The principal of the Convertible Notes is convertible into shares of the Issuer's Common Stock at any time after their issuance at a conversion price of approximately $8.26 per share, subject to adjustment in certain circumstances in accordance with the terms of the Convertible Notes.

F3: The Convertible Notes are exercisable at any time prior to the expiration date.

F4: The reported securities are directly owned by certain private investment funds and managed accounts and may be deemed beneficially owned by Brigade Capital Management, LP, the investment manager of such funds and accounts and Mr. Morgan, the managing member of Brigade Capital Management, LP's general partner. Brigade Capital Management, LP and Mr. Morgan each disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that each Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.