Business Context and Reporting Period
This Form 8-K filing by Structured Products Corp. on behalf of the CorTS Trust for PECO Energy Capital Trust III reports a distribution event for the period ending October 31, 2013. The Trust holds capital securities issued by PECO Energy Company as underlying assets.
Key Financial Metrics
- Distribution per Certificate: $1.000000 per $25 Class A Certificate (entirely interest; $0.00 principal).
- Outstanding Certificates: 1,014,750 Class A Certificates.
- Aggregate Certificate Principal Balance: $25,368,750.
- Underlying Term Assets: $27,500,000 aggregate principal amount of PECO Energy Capital Trust III 7.38% Capital Securities due April 6, 2028.
- Unpaid Interest: $0.00 as of the Distribution Date.
- Trustee Fees: No fees were paid from the proceeds of the Term Assets.
Material Changes
The filing does not provide comparative financial data or prior period metrics to assess material changes in revenue, profit, or margins. The document serves solely as a notice of the scheduled distribution payment.
Guidance, Outlook, and Risks
- Rating Information: The current credit rating of the underlying Term Assets is not provided in this report. Investors are directed to contact Standard & Poor's or Moody's for current ratings.
- Due Diligence Disclaimer: Structured Products Corp. and the Trustee have not participated in the preparation of the issuer's reports, nor have they verified the accuracy or completeness of the underlying issuer's information.
- Contingencies: There is no assurance that undisclosed events affecting the underlying issuer have not occurred which could impact the accuracy of public documents.
Investor Verification Checklist
- Verify the current credit rating of the underlying PECO Energy Capital Trust III 7.38% Capital Securities with rating agencies.
- Confirm the payment status of the $1.00 per $25 certificate distribution.
- Review periodic reports filed by PECO Energy Company (File No. 000-16844) for updates on the underlying asset performance.
- Note that the Trustee has not independently verified the financial data of the underlying issuer.