UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) ~~January~~: 15July 13, 2006

Structured Products Corp.

(Exact name of registrant as specified in its charter)

Delaware	001-32103	13-3692801
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS Employer Identification Number)

388 Greenwich Street, New York, New York 10013 (Address of principal executive offices) (Zip Code) Registrant's telephone number including area code (212) 816-7496.

388 Greenwich Street, New York, New York	10013
(Address of principal executive offices)	(Zip Code)
Registrant's telephone number including area code	(212) 816-7496.

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13e-4(c))

1Section 8 - Other Events Item 8.01 Other Events.

~~Section~~Structured 8Products -Corp., ~~Other~~the ~~Events~~registrant hereunder, acts as depositor of the CorTS Trust II for First Union Capital I (the "Trust"). The sole assets of the Trust are $109,600,000 principal amount of 7.935% Capital Securities due January 15, 2027 (the "Term Assets") issued by First Union Capital I. Pursuant to the trust agreement governing the Trust, the Trust has issued 4,384,000 Corporate–Backed Trust Securities Class A Certificates (the “Class A Certificates”). Pursuant to the trust agreement governing the Trust and the Warrant Agent Agreement, the Trust has issued 10,960 Warrants (the "Call Warrants"). U.S. Bank National Association, in its capacity as Warrant Agent, has received a notice from the holder of the Call Warrants of its intent to exercise 10,960 Call Warrants to purchase the Term Assets in full on July 28, 2006. The exercise of the Call Warrants is conditional upon receipt by the Trustee of the Warrant Exercise Purchase Price by 11:00 a.m. (New York City time) with respect to such exercise on the Exercise Date. As a result, if the Trustee receives the Warrant Exercise Purchase Price, the Class A Certificates will be redeemed in full on July 28, 2006 (the “Redemption Date”) at a price of $25 plus 0.067708 accrued interest to the Redemption Date and the Class B Certificates will be redeemed in full by payment of $0.157083 in accrued interest to the Redemption Date. No interest will accrue on the Certificates after the Redemption date. Any capitalized terms used herein and not otherwise defined herein have the definition given to them in the documents pursuant to which the Trust is governed.

~~Item 8.01 Other Events.~~SIGNATURES

~~This~~Pursuant ~~current~~to ~~report~~the onrequirements ~~Form~~of ~~8-K~~the ~~relates~~Securities toExchange aAct ~~distribution~~of ~~made~~1934, tothe ~~holders~~registrant ofhas ~~the~~duly ~~Certificates~~caused ~~issued~~this byreport ~~the~~to ~~CorTS~~be ~~Trust~~signed IIon ~~for~~its ~~First~~behalf ~~Union~~by ~~Capital~~the Iundersigned hereunto duly authorized.

~~The~~By: ~~issuer~~/s/ ofMark the underlying securities, or guarantor thereof, or successor thereto, as applicable, is subject to the information reporting requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act")C. ~~Periodic~~ ~~reports~~Graham ~~and~~Name: ~~other~~Mark information required to be filed pursuant to the Exchange Act, by the issuer of the underlying securities, or guarantor thereof, or successor thereto, as applicable, may be inspected and copied at the public reference facilities maintained by the Securities and Exchange Commission (the "Commission") at 450 Fifth Street, N.W., Washington, D.C. ~~20549.~~Graham ~~The Commission also maintains a site on the World Wide Web at "http~~Title:~~//www.sec.gov"~~ atAuthorized which users can view and download copies of reports, proxy and information statements and other information filed electronically through the Electronic Data Gathering, Analysis and Retrieval system. Neither Structured Products Corp. nor the trustee has participated in the preparation of such reporting documents, or made any due diligence investigation with respect to the information provided therein. Neither Structured Products Corp. nor the trustee has verified the accuracy or completeness of such documents or reports. There can be no assurance that events affecting the issuer of the underlying securities, or guarantor thereof, or successor thereto, as applicable, or the underlying securities have not occurred or have not yet been publicly disclosed which would affect the accuracy or completeness of the publicly available documents described above.Signatory

~~Section~~July 913, ~~- Financial Statements and Exhibits~~2006

Item 9.01 Financial Statements and Exhibits.

1. Trustee’s Report with respect to the January 15, 2006 Distribution Date for the CorTS Trust II for First Union Capital I

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

By: /s/ Mark C. Graham Name: Mark C. Graham Title: Authorized Signatory

January 15, 2006

EXHIBIT INDEX

Exhibit		Page
1	Trustee’s Report with respect to the January 15, 2006 Distribution Date for the CorTS Trust II for First Union Capital I	5

Exhibit 1

To the Holders of:
CorTS Trust II for First Union Capital I
7.5% Corporate-Backed Trust Securities (CorTS) Class A Certificates
*CUSIP:	22081J203	Class:	A
*CUSIP:	22081JAA2	Class:	B

U.S. Bank Trust National Association, as Trustee for the CorTS Trust II for First Union Capital I, hereby gives notice with respect to the Distribution Date of January 15, 2006 (the “Distribution Date”) as follows:

1. The amount of the distribution payable to the Certificateholders on the Distribution Date allocable to principal and premium, if any, and interest, expressed as a dollar amount per $25 Class A Certificate and per $1,000 Notional Amount of Class B Certificates, is as set forth below:

Class	Principal		Interest		Total Distribution
A	$	0.000000	$	0.937500	$	0.937500
B	$	0.000000	$	2.175000	$	2.175000

2. The amount of aggregate interest due and not paid as of the Distribution Date is $0.000000.

3. No fees have been paid to the Trustee or any other party from the proceeds of the Term Assets.

4. $109,600,000 aggregate principal amount of First Union Capital I 7.935% Capital Securities Series A due January 15, 2027 (the “Term Assets”) are held for the above trust.

5. At the close of business on the Distribution Date, 4,384,000 Class A Certificates representing $109,600,000 aggregate Certificate Principal Balance and $109,600,000 aggregate Notional Amount of Class B Certificates were outstanding.

6. The current rating of the Term Assets is not provided in this report. Ratings can be obtained from Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., by calling 212-438-2400 and from Moody’s Investors Service, Inc. by calling 212-553-0377.

U.S. Bank Trust National Association, as Trustee

*The Trustee shall not be held responsible for the selection or use of the CUSIP number nor is any representation made as to its correctness. It is included for the convenience of the Holders.

Filing Compare · STRUCTURED PROD CORP CORTS TR II FOR FIRST UNION CAPITAL I