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Structured Products CorTS, Provident Financing Trust I, 8.50% Certificates
Ticker Symbol: KSA* CUSIP: 22080X203 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/17/2013
Security has been Called for: Wednesday, April 17, 2013
April 2, 2013 --The 8.50% Corporate-Backed Trust Securities (CorTS) Certificates(Issued by Provident Financing Trust I) due 3/15/2038 of STRUCTURED PRODUCTS CORP shall be dealt in as called issues (KSA CL). This issue will be called for redemption on April 17, 2013 at $25.00 per share plus any accrued dividends/distributions.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Structured Products Corp., 8.50% CorTS (Corporate-Backed Trust Securities) Certificates, principal amount $25 per certificate, issued by CorTS Trust for Provident Financing Trust I, the Trust. The underlying securities of the CorTS trust are the 7.405% Capital Securities due 3/15/2038 issued by Provident Financing Trust I and guaranteed by Provident Cos. Inc., now UnumProvident Corp. (NYSE: UNM). The assets of the underlying capital securities trust are the 7.405% Junior Subordinated Deferrable Interest Debentures, Series A due 3/15/2038 which were purchased from Provident Cos Inc., now UnumProvident Corp. using the funds from the sale of the Capital Securities. The CorTS certificates will pay 8.50% ($2.215) dividends semiannually on 3/15 & 9/15 to holders of record on the day immediately prior to the payment date. The CorTS are redeemable under the call warrants on or after 2/07/2006 at $25 per share plus an additional payment of $3.69 per certificate 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 Baa2 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 (UNM)
IPO - 2/8/2001 - 2.09 Million Certificates @ $25.00/cert.
Link to IPO Prospectus
Market Value $53.7 Million
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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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