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Structured Products CorTS IV, Aon Capital A, 8.00% Certificates
Ticker Symbol: KVW* CUSIP: 22082Y209 Exchange: NYSE
* NOTE: This security is no longer trading as of 2/14/2011
Security has been Called for: Monday, February 14, 2011
Jan 31, 2011 -- U.S. Bank Trust National Association serves as trustee for the above-referenced Trust formed pursuant to the terms of the Base Trust Agreement dated as of December 15, 2000, as supplemented by the Series Supplement Series 2003-1, dated as of February 21, 2003 by and between Structured Products Corporation and the Trustee. The Warrantholder has given notice to the Trustee to exercise 61,690 Call Warrants for the purchase of $61,690,000 of the Term Assets held by the Trust, and agrees to make payment equal to the Warrant Exercise Purchase Price for the Term Assets being purchased pursuant to the exercise of the Call Warrants, which includes accrued and unpaid interest to and including the Warrant Exercise Date, determined to be February 14, 2011. THE EXERCISE OF THE CALL WARRANTS IS CONDITIONAL UPON RECEIPT BY THE TRUSTEE OF THE WARRANT EXERCISE PURCHASE PRICE ON THE WARRANT EXERCISE DATE. THERE CAN BE NO ASSURANCE THAT THE CALL WARRANTS WILL IN FACT BE EXERCISED ON THE WARRANT 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) 2,467,000 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 $0.238888 per Class A Certificate to the Redemption Date and (ii) $61,690,000 notional value of Class B Certificates will be redeemed in full with payment of accrued and unpaid interest of $0.244861 per $1,000 Class B Certificate. If the Certificates are redeemed, no interest will accrue on such Certificates after the Redemption Date. If the Trustee does not receive the Warrant Exercise Purchase Price, then (i) the Certificates issued by the Trust will not 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. This press release is being issued by U.S. Bank Trust National Association as trustee of the Trust. For more information about this conditional redemption, Holders with questions may contact Bondholder Services at (800) 934-6802.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Structured Products Corp., 8.00% CorTS (Corporate-Backed Trust Securities) Certificates, principal amount $25 per certificate, issued by CorTS Trust IV 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 8.00% 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 2/21/2008 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 Baa3 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 Salomon Smith Barney Holdings, a member of Citigroup (NYSE: C).
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Go to Parent Company's Record (AON)
IPO - 2/25/2003 - 2.47 Million Certificates @ $25.00/cert.
Link to IPO Prospectus
Market Value $61.7 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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