Business Services Industry
Conditional Redemption of CorTS Trust for W.R. Berkley Capital Trust Securities
Business Wire, Dec 5, 2006
CUSIP: 22082E203
NEW YORK -- U.S. Bank Trust National Association, as Trustee (the "Trustee"), under the Base Trust Agreement dated as of December 15, 2000, as supplemented by the CorTS Supplement 2002-5 dated as of May 24, 2002, between Structured Products Corp. and the Trustee, has received notice that W.R. Berkley Capital Trust has elected to redeem the term assets of the trust on December 15, 2006 (the "Redemption Date") at 100% of the par value of the term assets.
If the Trustee receives the redemption payment on the Redemption Date, then the Certificates issued by the CorTS Trust for W.R. Berkley Capital Trust will be redeemed in full on the Redemption Date at a price of $25.00 per Certificate plus an additional payment of principal of $0.16 per Certificate, or $25.16 per Certificate. December 15, 2006 interest on the certificates will be paid to holders of record in the usual manner. No interest will accrue 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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