Conditional Redemption of CorTS Trust for IBM Debentures, 7.125% Corporate-Backed Trust Securities (CUSIP: 22081A202).NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- On February 28, 2006, the Certificates issued by CorTS Trust for IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Debentures (the "Trust") 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 New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time) on February 28, 2006. If the Trustee receives the Warrant Exercise Purchase Price, the Certificates will be redeemed in full on February 28, 2006 (the "Redemption Date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. ") at a price of $25 plus $0.430469 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. |
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