UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
OMB APPROVAL
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SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(RULE 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULE 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO
FILED PURSUANT TO RULE 13d-2(b)
(AMENDMENT NO. __)*
Navistar International Corp.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
63934E108
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(CUSIP Number)
November 18, 2002
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED
IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY
VALID OMB CONTROL NUMBER.
Page 1 of 4 pages
SCHEDULE 13G
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Issuer: Navistar International Corp. CUSIP No.: 63834E108
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
MacKay Shields LLC
13-2631681
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
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(b)
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3. SEC Use Only
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4. Citizenship or Place of Organization Delaware
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Number of Shares 5. Sole Voting Power 3,513,503
Beneficially Owned -------------------------------------------------------
by Each Reporting 6. Shared Voting Power
Person With: -------------------------------------------------------
7. Sole Dispositive Power 3,513,503
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8. Shared Dispositive Power
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9. Aggregate Amount Beneficially Owned by Each Reporting Person 3,513,503
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
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11. Percent of Class Represented by Amount in Row (9) 5.15%
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12. Type of Reporting Person (See Instructions)
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IA
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Page 2 of 4 Pages
SCHEDULE 13G
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Issuer: Navistar International Corp. CUSIP No.: 63834E108
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ITEM 1(a). NAME OF ISSUER:
Navistar International Corp.
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
201 Winfield, PO Box 1488, Warrenville, IL 60555
ITEM 2(a). NAME OF PERSON FILING:
MacKay Shields LLC
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE OF
FILING PERSON:
9 West 57th Street, New York, NY 10019
ITEM 2(c). CITIZENSHIP OF FILING PERSON:
Delaware
ITEM 2(d). TITLE OF CLASSES OF SECURITIES:
Common Stock
ITEM 2(e). CUSIP NUMBERS:
63934E108
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR
13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:
(a) [_] Broker or dealer registered under Section 15 of the Act (15 U.S.C.
78o).
(b) [_] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [_] Insurance company as defined in Section 3(a)(19) of the Act (15
U.S.C. 78c).
(d) [_] Investment company registered under Section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) [X] An investment adviser in accordance with ss.240.13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with
ss.240.13d-1(b)(1)(ii)(F);
(g) [_] A parent holding company or control person in accordance with
ss.240.13d-1(b)(1)(ii)(G);
(h) [_] A savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i) [_] A church plan that is excluded from the definition of an investment
company under section 3(c)(14) of the Investment Company Act of 1940
(15 U.S.C. 80a-3);
(j) [_] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).
Page 3 of 4 Pages
SCHEDULE 13G
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Issuer: Navistar International Corp. CUSIP No.: 63834E108
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ITEM 4. OWNERSHIP.
MacKay Shields LLC, an investment adviser registered under Section 203
of the Investment Advisers Act of 1940, is deemed to be the beneficial owner of
3,513,503 shares or 5.15% of the Common Stock believed to be outstanding as a
result of acting as investment adviser to various clients.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not Applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
MacKay Shields LLC, an investment adviser registered under Section 203
of the Investment Advisers Act of 1940, is deemed to be the beneficial owner of
3,513,503 shares or 5.15% of the Common Stock believed to be outstanding as a
result of acting as investment adviser to various clients. Clients of MacKay
Shields LLC have the right to receive and the ultimate power to direct the
receipt of dividends from, or the proceeds of the sale of, such securities.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL
PERSON.
Not Applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not Applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not Applicable.
ITEM 10. CERTIFICATION.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held in the
ordinary course of business and were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information in this statement is true, complete and correct.
Date: February 14, 2003 MACKAY SHIELDS LLC
/S/ RUSSELL A. THOMPSON
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BY: RUSSELL A. THOMPSON
Title: Chief Compliance Officer
Page 4 of 4 Pages