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, 2012. The trust holds 7.38% Capital Securities due April 6, 2028, issued by PECO Energy Company.
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 Held: $27,500,000 aggregate principal amount of PECO Energy Capital Trust III 7.38% Capital Securities.
- Unpaid Interest: $0.00 as of the distribution date.
- Trustee Fees: No fees were paid from the proceeds of the Term Assets for this period.
Material Changes
The filing does not provide comparative data for prior periods to assess material changes in financial metrics. It serves solely as a notice of the scheduled quarterly distribution.
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.
- Disclaimer: Structured Products Corp. and the Trustee explicitly state they have not participated in the preparation of the issuer's reports, have not conducted due diligence, and have not verified the accuracy of the issuer's public documents.
- Contingencies: There is no assurance that undisclosed events affecting the issuer (PECO Energy Company) have not occurred that could impact the accuracy of public information.
Investor Verification Checklist
- Verify the current credit rating of PECO Energy Company and the underlying 7.38% Capital Securities with rating agencies.
- Confirm the payment of the $1.00 per $25 certificate distribution to the account on record.
- Review PECO Energy Company's periodic reports (File No. 000-16844) for any undisclosed events affecting the underlying assets.
- Note that the Trustee has not verified the accuracy of the issuer's financial condition.