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Structured Products CorTS, GE Capital Corp., 6.00% Certificates due 3/15/2032
Ticker Symbol: KVR*     CUSIP: 22082X201     Exchange: NYSE
Security Type:   Third Party Trust Preferred
* NOTE: This security is no longer trading as of 5/10/2011

Security has been Called for:  Tuesday, May 10, 2011

April 27, 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 2002-13, dated as of December 27, 2002 by and between Structured Products Corporation and the Trustee. Capitalized terms used herein have the meanings set forth in the Trust Agreement. The Warrantholder has given notice to the Trustee to exercise 200,000 Call Warrants for the purchase of $200,000,000 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 May 10, 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) 200,000,000 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 $0.229167 per Class A Certificate to the Redemption Date and (ii) $200,000,000 notional value of Class B Certificates will be redeemed in full with payment of accrued and unpaid interest of $1.145833 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.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Structured Products Corp., 6.00% CorTS (Corporate-Backed Trust Securities) Certificates, principal amount $25 per certificate, issued by CorTS Trust for General Electric Capital Corp. Notes, the Trust. The underlying securities are the 6.75% Global Medium-Term Notes, Series A due 3/15/2032 issued by General Electric Capital Corp., a wholly-owned subsidiary of General Electric Co. (NYSE: GE). The CorTS certificates will pay 6.00% interest semiannually on 3/15 & 9/15 to holders of record one day prior to the payment date. The CorTS are redeemable on or after 12/27/2007 under the call warrants at $25 plus accrued and unpaid interest. 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. The certificates must be rated at least Aaa by Moody's and AAA by S&P to be issued. 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).
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NYSE
Chart
6.00%
$1.50
$25.00
$25.00
Called for
5/10/2011

3/15/2032
Aa2 AA+
2/22/2011
3/15 & 9/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No

Go to Parent Company's Record (GE)

IPO - 12/24/2002 - 8.00 Million Certificates @ $25.00/cert.    Link to IPO Prospectus
Market Value $200.0 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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