Business Context and Reporting Period
This Form 8-K is filed by Synthetic Fixed-Income Securities, Inc. on behalf of the STRATS(SM) Trust for Dominion Resources, Inc. Securities, Series 2005-6. The report covers events occurring on March 14, 2006, regarding the surrender of STRATS(SM) Certificates and the subsequent exchange for underlying senior notes.
Key Financial Metrics
The filing details a specific transaction rather than periodic financial performance metrics such as revenue or cash flow. Key figures related to the transaction include:
- Certificates Surrendered: 340,000 STRATS(SM) Certificates, Series 2005-6.
- Aggregate Stated Amount Surrendered: $8,500,000.
- Underlying Asset Received: Dominion Resources, Inc. 5.950% Senior Notes due June 15, 2035.
- Principal Balance of Notes Received: $8,500,000.
- Remaining Notes Held by Trust: $16,500,000 aggregate principal amount.
- Outstanding Certificates Post-Transaction: 660,000 Certificates representing $16,500,000 aggregate principal balance.
Material Changes
On March 14, 2006, the Trust executed an optional exchange pursuant to Section 39 of the Series Supplement. Synthetic Fixed-Income Securities, Inc. surrendered certificates held by it in exchange for the underlying Dominion Resources, Inc. Senior Notes. This transaction reduced the outstanding certificate principal balance from $25,000,000 to $16,500,000.
Guidance, Outlook, and Risks
The filing does not provide management commentary, future guidance, or specific risk factors beyond the standard operational mechanics of the STRATS(SM) Trust structure. The transaction was conducted in accordance with the optional exchange provisions of the Series Supplement dated November 21, 2005.
Investor Verification Checklist
- Verify the terms of the optional exchange provisions in Section 39 of the Series Supplement.
- Confirm the current market value of the remaining $16,500,000 Dominion Resources, Inc. 5.950% Senior Notes due 2035.
- Review the Base Trust Agreement dated September 26, 2003, for additional trust obligations.
- Check for any subsequent filings regarding the disposition of the surrendered notes.