Conditional Redemption of CorTS Trust for Southern Company Capital Trust I.CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. : 22080N205 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 -- U.S. Bank Trust National Association, as Trustee (the "Trustee"), under the Base Trust Agreement dated as of May 21, 1999, as supplemented by the CorTS Supplement 1999-4 dated as of October 28, 1999, between Structured Products Corp. and the Trustee, has received notice that Southern Company Capital Trust I has elected to redeem the term assets of the trust on February 2, 2007 (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 104.095% of the par value of the term assets plus one day of accrued interest Accrued Interest The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date. There are two methods for calculating accrued interest: 1) 360-day year method, used for corporate and municipal bonds. . If the Trustee receives the redemption payment on the Redemption Date, then the Certificates issued by the CorTS Trust for Southern Company Capital Trust I will be redeemed in full on the Redemption Date at a price of $26.023750 per Certificate plus $0.005687 accrued interest. On February 1, 2007 interest on the certificates will be paid to holders of record in the usual manner. No interest will accrue To increase; to augment; to come to by way of increase; to be added as an increase, profit, or damage. Acquired; falling due; made or executed; matured; occurred; received; vested; was created; was incurred. on the Certificates after the Redemption Date. If the Trustee does not receive the redemption payment, then Certificates referenced in the redemption notice will not be redeemed. 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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