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Structured Products CorTS, Goldman Sachs Capital I, 6.00% Certificates
Ticker Symbol: HYK* CUSIP: 22083B208 Exchange: NYSE
* NOTE: This security is no longer trading as of 5/17/2013
Security has been Called for: Friday, May 17, 2013
May 3, 2013 -- Conditional Notice of Call Warrant Exercise on Term Assets: CorTS Trust for Goldman Sachs Capital I, Class A CUSIP: *22083B208, Class B CUSIP: *22083BAA7. 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 CorTS Supplement 2004-4, dated as of February 27, 2004 by and between Structured Products Corporation and the Trustee. The assets of the Trust include the following securities: 6.345% Capital Securities due February 15, 2034 CUSIP No. 38143VAA7 issued by Goldman Sachs Capital I. On May 2, 2013 the Warrantholder gave notice to the Trustee of its intent to exercise all Call Warrants for the purchase of all of the Term Assets held by the Trust, and agrees to make payment equal to the sum of (i) the principal amount of the Term Assets being purchased pursuant to the exercise of the Call Warrants plus accrued and unpaid interest to and including the Warrant Exercise Date, determined to be Friday, May 17, 2013 and (ii) the Warrant Class B Purchase Price. 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. On the Redemption Date, if the Trustee receives the Warrant Exercise Purchase Price by 11:00 a.m. (New York City time), then (i) 6,120,000 Class A Certificates will be redeemed at a price of $25.00 per Class A Certificate plus accrued interest of $0.383333 per Class A Certificate to the Redemption Date and (ii) holders of Class B Certificates will receive a final payment of $40.638198 and accrued interest of $0.881666 per $1,000 Class B Certificate. If the Trustee does not receive the Warrant Exercise Purchase Price, then (i) the Certificates issued by the Trust will not be redeemed and will continue to accrue distributions as if no exercise notice had been given and (ii) the Warrantholder may elect to deliver a partial or full 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., 6.00% CorTS (Corporate-Backed Trust Securities) Class A Certificates, principal amount $25 per certificate, issued by CorTS Trust for Goldman Sachs Capital I, the Trust. The underlying securities of the CorTS trust are the 6.345% Capital Securities due 2/15/2034 issued by Goldman Sachs Capital I and guaranteed by Goldman Sachs Group Inc. (NYSE: GS). The assets of the underlying capital securities trust are the 6.345% Junior Subordinated Deferrable Interest Debentures due 2/15/2034 which were purchased from Goldman Sachs Group using the funds from the sale of the Capital Securities. The CorTS certificates will pay 6.00% ($1.50) per annum distributions semiannually on 2/15 & 8/15 to holders of record on the day immediately prior to the payment date. The CorTS certificates are redeemable under the call warrants on or after 2/27/2009 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 (but not beyond the maturity date). The certificates must be rated at least A1 by Moody's and A- 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 (GS)
IPO - 2/27/2004 - 4.00 Million Certificates @ $25.00/cert.
Link to IPO Prospectus
Market Value $100.0 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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