Class A CUSIP:22081G209*
Please forward this notice to all beneficial holders.
U.S. Bank Trust National Association serves as trustee (the "Trustee") for the above-referenced Trust (the "Trust") formed pursuant to the terms of the Base Trust Agreement dated as of December 15, 2000, as supplemented by the CorTS Supplement 2001-15 (the "Series Supplement"), dated as of April 10, 2001 (collectively, the "Trust Agreement") by and between Structured Products Corporation (the "Depositor") and the Trustee. Capitalized terms used herein have the meanings set forth in the Trust Agreement. The assets of the Trust include the following securities:
$32,700,000 principal amount 7.125% Debentures due
November
15, 2043
CUSIP No. 912920AG0 issued by
Qwest
Corporation
The Warrantholder has given notice to the Trustee to exercise $10,000,000 Call Warrants for the purchase of $10,000,000 of the Term Assets held by the Trust, and agrees to make payment equal to the sum of 95% of the principal amount of the Term Assets being purchased pursuant to the exercise of the Call Warrants plus accrued and unpaid interest thereon to and including the Warrant Exercise Date, determined to be Tuesday, July 31, 2012 (the "Warrant Exercise Date" or "Redemption Date").
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 11:00 a.m. (New York City time) on the Redemption Date, then (i) $9,500,000 Class A Certificates issued by the Trust will be redeemed on the Redemption Date at a price of $25.00 per Class A Certificate plus accrued interest of $0.395833 per Class A Certificate to 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 will continue to accrue distributions as if no exercise notice had been given and (ii) the Call Warrantholder may elect to deliver a partial or full 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.
July 16, 2012
*U.S. Bank shall not be held responsible for the selection or the use of the CUSIP number, nor is any representation made as to its correctness indicated in this notice. It is included solely for the convenience of the holders.
Contacts:
U.S. Bank Trust National Association
Bondholder Services,
800-934-6802