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Structured Products CorTS, Fleet Capital Trust II, 8.0% Certificates
Ticker Symbol: KTK*     CUSIP: 22080V207     Exchange: NYSE
Security Type:   Third Party Trust Preferred
* NOTE: This security is no longer trading as of 3/03/2006

Security has been Called for:  Friday, March 3, 2006

Feb. 10, 2006 -- On March 3, 2006, the Certificates issued by CorTS Trust for Fleet Capital Trust II will be redeemed. This redemption is a result of the exercise of the Call Warrants to purchase the assets of the Trust by the Call Warrant Holder and is conditional on receipt of the Warrant Exercise Purchase Price by the Trustee by 11:00 a.m. (New York City time) on March 3, 2006. If the Trustee receives the Warrant Exercise Purchase Price, the Certificates will be redeemed in full on March 3, 2006 at a price of $25.252525 plus $0.433333 accrued interest to the Redemption Date per Certificate. This press release is being issued by U.S. Bank Trust National Association as trustee of the Trust. For more information about these redemptions, please contact Janet O'Hara of U.S. Bank Trust National Association at 212-361-2527.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Structured Products Corp., 8.0% CorTS (Corporate-Backed Trust Securities) Certificates, principal amount $25 per certificate, issued by CorTS Trust for Fleet Capital Trust II, the Trust. The underlying securities of the CorTS trust are the 7.92% Capital Securities due 12/11/2026 issued by Fleet Capital Trust II and guaranteed by Fleet Financial Group Inc., now FleetBoston Financial Corp. (NYSE: FBF). The assets of the underlying capital securities trust are the 7.92% Junior Subordinated Deferrable Interest Debentures due 12/11/2026 which were purchased from Fleet Financial Group Inc. using the funds from the sale of the Capital Securities. The CorTS certificates will pay 8.00% ($2.00) dividends semiannually on 6/15 & 12/15 to holders of record on the day immediately prior to the payment date. The CorTS are redeemable under the call warrants on or after 1/23/2006 at $25 per share plus an additional payment of $0.25 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 A2 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).
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NYSE
Chart
8.00%
$2.00
$25.00
$25.25
Called for
3/03/2006

12/11/2026
Aa3 A
6/19/2005
6/15 & 12/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No

Go to Parent Company's Record (BAC)

IPO - 1/25/2001 - 1.21 Million Certificates @ $25.00/cert.    Link to IPO Prospectus
Market Value $30.2 Million

Company's Online Information Links
Home Page:   We know of no Home Page for this company.

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Go to SEC 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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