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United States Cellular Corp | Synthetic Fixed-Income Sec STRATS 2006-03, Float Rate Allstate Corp. (GJT)
Prospectus excerpt: Synthetic Fixed-Income Securities Inc., Floating Rate STRATS (Structured Repackaged Asset-Backed Trust Securities) Certificates, Series 2006-3, STRATS Trust for Allstate Corp. Securities, price to the public $25 per certificate. The underlying securities are the 5.95% Notes due 4/1/2036 issued by the Allstate Corp. (NYSE: ALL). The certificates pay a fixed rate of 8% per annum until the distribution date in May 2007 and then will pay floating rate distributions monthly on the 1st of each month to holders of record on the business day immediately preceding the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The floating interest rate of the certificates will adjust for each distribution date and will be based on the weekly average of the three-month Treasury Bill rate plus 0.80% and are subject to a maximum interest rate of 8.00%. The underlying notes are subject to early redemption any time if the underlying security issuer redeems the underlying notes or if they cease to or fail to file periodic reports with the SEC. Certificate ratings at the IPO were A+ by S&P. Synthetic Fixed-Income Securities, Inc. is a wholly-owned subsidiary of Wachovia Corporation. Full Prospectus PDF », Secondary Prospectus PDF », USM Page »
Redeemable?: | Yes | Call Date: | 5/3/2023 (Now Trading Post Call Date) | Maturity Date: | 4/1/2036 | Cumulative?: | Yes | Shares Offered: | 1,400,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $22.78 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-2.22 (-8.88%) | Annualized Dividend: | 1.5435 | Recent Ex-Date: | 4/29/2024 | Current Yield: | 6.78% | Original Coupon: | Variable Float Rate | Pay Period: | Monthly | CDx3 Compliance Rating: |
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United States Cellular provides wireless telecommunications services. Co. focuses on consumer, business and government customers located in its operating markets. Co. provides wireless solutions to consumers and business and government customers, including a suite of connected Internet of things (IoT) solutions and software applications across the categories of monitor and control, business automation/operations, communication, asset management, smart water solutions, and custom, end-to-end IoT solutions. Additionally, for first responders, Co. provides both Wireless Priority Services and Quality Priority and Preemption options. Preferreds: GJH, GJO, GJP, GJR, GJS, GJT Open the USM Information Page »
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