News Releases

 
Four New Structured Products Join the NYSE in May 2006
NEW YORK , June 16, 2006 – In the month ended May 31, 2006 , four new structured products listed on the NYSE.

Lincoln National Corporation (NYSE: LNC) issued $275 million of 6.75% Capital Securities which   began trading on the NYSE on May 1, 2006 under the ticker symbol LNC Pr G.  The Capital Securities, due April 20, 2066 , are junior subordinated debentures of Lincoln National Corporation and bear interest at a rate of 6.75% per year, payable quarterly.  The Capital Securities, issued in increments of $25, are traded by Banc of America Specialists. 
Lincoln National Corporation is a holding company, which operates multiple insurance and investment
management businesses as well as a broadcasting and sports programming business through subsidiary companies.

USB Capital X, a statutory Trust established by U.S. Bancorp (NYSE: USB), issued $500 million of 6.5% Trust Preferred Securities, due April 12, 2066 .  The Trust Preferred Securities began trading on the NYSE on May 11, 2006 under the ticker symbol USB Pr I.  The only assets of the Trust are 6.5% Income Capital Obligation Notes (ICONs) due April 12, 2066 , issued by
U.S . Bancorp.  The Trust Preferred Securities will bear interest from the day they are issued at the annual rate of 6.5%, payable quarterly.  The Trust Preferred Securities, issued in increments of $25, are traded by LaBranche & Co. LLC.
U.S. Bancorp operates as a financial holding company. The company provides a range of financial services, including lending and depository services, cash management, foreign exchange and trust and investment management services.

PPLUS Trust Series LTD-1 ,sponsored by Merrill Lynch Depositor, Inc., a wholly owned subsidiary of Merrill Lynch & Co. (NYSE: ML), issued $25 million of PPLUS Class A 6.7% Callable Trust Certificates, due March 1, 2033.  The PPLUS Trust Series LTD-1 securities began trading on the NYSE on May 18, 2006 under the ticker symbol PZB.  The only assets of the Trust are 6.95% Exchange Debentures due 2033 issued by Limited Brands, Inc. (NYSE: LTD).  The PPLUS Trust Series LTD-1 securities will bear interest from the day they are issued at the annual rate of 6.7%, will be paid semiannually.  The PPLUS Trust Series LTD-1 Securities, issued in increments of $25, are traded by Van der Moolen Specialists, USA LLC.
Merrill Lynch & Co., Inc. is a holding company that, through its subsidiaries and affiliates, provides broker-dealer, investment banking, financing, wealth management, advisory, asset management, insurance, lending and related products and services on a global basis. Merrill Lynch provides these products and services to an array of clients, including individual investors, small businesses, corporations, financial institutions, governments and government agencies.

The STRATS Trust for Allstate Corporation Securities, Series 2006-3, sponsored by Synthetic Fixed Income Securities, Inc., a wholly owned subsidiary of Wachovia Corporation (NYSE: WB), issued $35 million of Floating Rate Structured Repackaged Asset-Backed Trust Securities (STRATS) Certificates, Series 2006-3, due April 1, 2036 .  The STRATS Certificates, Series 2006-3, began trading on the NYSE on May 30, 2006 under the ticker symbol GJT.  The only assets of the Trust are 5.95% Notes due 2036 issued by The Allstate Corporation.  Interest distributions occur monthly on the first calendar day of each month commencing May 1, 2006 and ending on April 1, 2036. The STRATS Certificates, Series 2006-3, have a fixed interest rate of 8.00% per annum until May 2007, and a floating interest rate equal to the 3-month Treasury bill rates plus 0.80% per annum starting in June 2007, and will be subject to a maximum interest rate of 8.00% per annum.  The STRATS Certificates, Series 2006-3, issued in increments of $25, are traded by Spear, Leeds & Kellogg Specialists LLC.
Wachovia Corporation (Wachovia) is registered as a financial holding company and a bank holding company, and provides commercial and retail banking, and trust services through full-service banking offices in Alabama  , Connecticut  , Delaware , Florida , Georgia , Maryland , Mississippi , New Jersey , New York , North Carolina , Pennsylvania , South Carolina , Tennessee , Texas , Virginia and Washington , D.C.

NYSE “Beyond Equities” – Structured Products
Since 1988, the NYSE has supported the capital-raising needs of qualified companies by providing a market for both debt and equity structured products including capital securities, mandatory convertibles, repackaged securities, equity-linked and index-linked securities, and corporate debt securities traded on the Exchange floor.  As the market of choice for structured products, the NYSE trades more than 575 structured products with a total market value greater than $125 billion. The Exchange’s Structured Products Group reported a healthy new-listings environment so far for 2006, with 30 new offerings valued at $11.2 billion. 

About NYSE Group, Inc.
NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the “NYSE”) and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange).   NYSE Group is a leading provider of securities listing, trading and market data products and services.  The NYSE is the world’s largest and most liquid cash equities exchange.  The NYSE provides a reliable, orderly, liquid and efficient marketplace where investors buy and sell listed companies’ common stock and other securities.  Our listed operating companies represent a total global market capitalization of over $22.9 trillion.  In the first quarter 2006, on an average trading day, over 1.7 billion shares, valued at over $65 billion, were traded on the NYSE. 

NYSE Arca operates the first open, all-electronic stock exchange in the United States and has a leading position in trading exchange-traded funds and exchange-listed securities.  NYSE Arca is also an exchange for trading equity options.  NYSE Arca’s trading platform links traders to multiple U.S. market centers and provide customers with fast electronic execution and open, direct and anonymous market access.

NYSE Regulation, an independent not-for-profit subsidiary, regulates member organizations through the enforcement of marketplace rules and federal securities laws.  NYSE Regulation also ensures that companies listed on the NYSE and NYSE Arca meet their financial and corporate governance listing standards.

For more information on NYSE Group, go to:  www.nyse.com.  Information contained on our website does not constitute an offering of our security.

Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These statements are based on NYSE Group’s current expectations and involve risks and uncertainties that could cause NYSE Group’s actual results to differ materially from those set forth in the statements.  There can be no assurance that such expectations will prove to be correct.  Actual results may differ materially from those expressed or implied in the forward-looking statements.  Factors that could cause NYSE Group’s results to differ materially from current expectations include, but are not limited to:  NYSE Group’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Group’s Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission.  In addition, these statements are based on a number of assumptions that are subject to change.  Accordingly, actual results may be materially higher or lower than those projected.  The inclusion of such projections herein should not be regarded as a representation by NYSE Group that the projections will prove to be correct. We undertake no obligation to release any revisions to any forward-looking statements.

No Sponsorship or Advice
The securities described in this press release are not sponsored, offered or sold by NYSE Group, Inc. or any of its affiliates.  NYSE Group, Inc. does not make any representation regarding any such securities or the advisability of investing in any such securities.  The descriptions of the securities described in this press release are not official descriptions. Investors are urged to consult their investment advisors and the respective prospectuses for such securities.   

 


Contact: Stephanie Scotto
Phone: 212.656.4896
Email:  sscotto@nyse.com