News Releases

 
Five New Structured Products Join the NYSE in July 2006
NEW YORK , July 31, 2006 – In the month ended July 31, 2006 , five new structured products listed on the NYSE, totaling $1.815 billion.

Protective Life Corporation (NYSE: PL) issued $200 million of  7.25% Capital Securities due 2066 which began trading on the NYSE on July 14, 2006, under the ticker symbol PL Pr D.  The securities are junior subordinated debentures which bear interest at a rate of 7.25% per year, payable in arrears quarterly.  The Capital Securities, issued in increments of $25, are traded by Kellogg Specialist Group.  Protective Life Corporation is a holding company whose subsidiaries provide financial services through the production, distribution, and administration of insurance and investment products. The Company operates in five segments: Life Marketing, Acquisitions, Annuities, Stable Value Products and Asset Protection.

KeyCorp Capital VIII, a statutory trust established by KeyCorp (NYSE: KEY), issued $250 million of 7.00% Enhanced Trust Preferred Securities which began trading on the NYSE on July 14, 2006 , under the ticker symbol KEY Pr D.  The only assets of the trust are KeyCorp’s 7.00% Junior Subordinated Debentures due June 15, 2066 .  The securities bear interest from the day they are issued at the annual rate of 7.00%, payable quarterly.  The Enhanced Trust Preferred Securities, issued in increments of $25, are traded by Spear, Leeds & Kellogg Specialists, LLC. KeyCorp is a financial holding company that, through its subsidiaries, provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance and investment banking products and services to individual, corporate and institutional.

AEGON N.V. (NYSE: AEG) issued $550 million of 6.875% Perpetual Capital Securities, which began trading on the NYSE on July 24, 2006 , under the ticker symbol AEV.  The securities have no stated maturity date and bear interest at a rate of 6.875% per year, payable quarterly.  The Perpetual Capital Securities, issued in increments of $25, are traded by Spear, Leeds & Kellogg Specialists, LLC.  AEGON N.V. is a holding company that, through its member companies that are referred to as the AEGON Group, focuses on life insurance, pensions, savings and investment products.  The AEGON Group is also active in accident, supplemental health, general insurance and some limited banking activities.  AEGON's three major markets are the United States of America , the Netherlands and the United Kingdom .

Citigroup Capital Trust XIV, a statutory trust established by Citigroup Inc. (NYSE: C), issued $565 million of 6.875% Enhanced Trust Preferred Securities.  The securities began trading on the NYSE on July 27, 2006 , under the ticker symbol C Pr O.  The only assets of the trust are Citigroup Inc.’s Junior Subordinated Debt Securities due June 30, 2066 .  The securities bear interest from the day they are issued at the annual rate of 6.875%, payable quarterly.  The Enhanced Trust Preferred Securities, issued in increments of $25, are traded by Bear Wagner Specialists, LLC.Citigroup Inc. (Citigroup) is a diversified global financial services holding company whose businesses provide a broad range of financial services to consumer and corporate customers. The Company is a bank holding company.

PPL Energy Supply, LLC, a wholly owned subsidiary of PPL Corporation (NYSE: PPL), issued $250 million of 7.00% Senior Notes due 2046, which began trading on the NYSE on July 27, 2006 , under the ticker symbol PLS.  The Senior Notes are unsecured and unsubordinated obligations of PPL Energy Supply, LLC and will bear interest at a rate of 7.00% per year, payable quarterly.  The Senior Notes, issued in increments of $25, are traded by Spear, Leeds & Kellogg Specialists, LLC.  PPL Energy Supply, formed in 2000 and headquartered in Allentown, Pennsylvania, is an energy company engaged, through its subsidiaries, in the generation and marketing of electricity primarily in the northeastern and western power markets of the United States, and in the delivery of electricity in the United Kingdom and Latin America.

Click here for all Structured Products.

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.    The Exchange’s Structured Products Group reported a healthy new-listings environment so far for 2006, with 37 new offerings valued at almost $9 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. On June 30, 2006 , our listed operating companies represent a total global market capitalization of over $ 22.6 trillion. In the second quarter 2006, on an average trading day, almost 1.8 billion shares, valued at over $68.5 billion, were traded on the NYSE.
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Certain statements in this article 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