USB Capital XI is an investment trust formed for the purpose of issuing the capital securities to the public, using the proceeds of the sale to buy its income capital obligation notes (ICONs). The ICONs are junior subordinated debt instruments. The Trust purchases all of the common securities of each trust. The common securities represent an aggregate liquidation amount equal to at least 3% of each trust's total capitalization. The capital securities represent the remaining 97% of each trust's total capitalization.