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Structured Products CorTS III, Aon Capital A, 7.75% Certificates
Ticker Symbol: KVF* CUSIP: 22082C207 Exchange: NYSE
* NOTE: This security is no longer trading as of 2/14/2011
Security has been Called for: Monday, February 14, 2011
Structured Products Corp., the registrant hereunder, acts as depositor of the CorTS Trust III for AON Capital A. The sole assets of the Trust are $30,000,000 8.205% Capital Securities due January 1, 2027 issued by Aon Capital A. Pursuant to the trust agreement governing the Trust, the Trust has issued 1,200,000 Corporate–Backed Trust Certificates representing $30,000,000 aggregate certificate principal balance of Notes. Pursuant to the trust agreement governing the Trust and the Warrant Agent Agreement, the Trust has issued 30,000 Warrants. U.S. Bank National Association, in its capacity as Warrant Agent, has received a notice from the holder of the Call Warrants of its intent to exercise all of the Call Warrants to purchase the Term Assets on February 14, 2011. The exercise of the Call Warrants is conditional upon receipt by the Trustee of the Warrant Exercise Purchase Price by 1:00 p.m. (New York City time) with respect to such exercise on the Exercise Date. If the Trustee receives the Warrant Exercise Purchase Price, by 1:00 p.m. (New York City time) on the Redemption Date, then (i) 1,200,000 Class A Certificates issued by the Trust will be redeemed in full on the Redemption Date at a price of $25.00 per Class A Certificate plus accrued interest of $0.231423 per Class A Certificate to the Redemption Date and (ii) $30,000,000 notional value of Class B Certificates will be redeemed in full on the Redemption Date with payment of accrued and unpaid interest of $0.543472 per $1,000 Class B Certificate. If the Certificates are redeemed, no interest will accrue on the Certificates after the Redemption Date. If the Trustee does not receive the Warrant Exercise Purchase Price, then (i) no Certificates issued by the Trust will be redeemed and they will continue to accrue distributions as if no exercise notice had been given and (ii) the Warrantholder may elect to deliver a conditional notice of exercise in the future.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Structured Products Corp., 7.75% CorTS (Corporate-Backed Trust Securities) Class A Certificates, principal amount $25 per certificate, issued by CorTS Trust III for AON Capital A, the Trust. The underlying securities of the CorTS trust are the 8.205% Capital Securities due 1/01/2027 issued by Aon Capital A and guaranteed by Aon Corp. (NYSE: AOC). The assets of the underlying capital securities trust are the 8.205% Junior Subordinated Deferrable Interest Debentures due 1/01/2027 which were purchased from Aon Corp. using the funds from the sale of the Capital Securities. The CorTS certificates will pay 7.75% ($1.9375) dividends semiannually on 1/1 & 7/1 to holders of record on the day immediately prior to the payment date. The CorTS are redeemable under the call warrants on or after 5/31/2007 at $25 per share plus accrued and unpaid dividends. The issuer has the right, at any time, to defer interest payments for up to 10 consecutive semiannual periods. The certificates must be rated at least Baa1 by Moody's and BBB+ by S&P to be issued. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. See the IPO prospectus for further information on the CorTS Certificates by clicking on the ‘Link to IPO Prospectus’ provided below. Structured Products Corp. is an indirect, wholly-owned subsidiary of Citigroup Global Markets Holdings Inc., formerly Salomon Smith Barney Holdings, a member of Citigroup (NYSE: C).
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Go to Parent Company's Record (AON)
IPO - 6/11/2002 - 1.20 Million Certificates @ $25.00/cert.
Link to IPO Prospectus
Market Value $29.3 Million
Company's Online Information Links
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Home Page: We know of no Home Page for this company. |
Company's Online SEC EDGAR Filings |
Address and Phone Numbers |
Address: 388 Greenwich Street, New York, NY 10013 |
Main Phone Number |
212-816-7496 |
Fax Number |
Not Available |
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