Business Context and Reporting Period
This Form 8-K filing by Structured Products Corp. on behalf of the Credit Enhanced CorTS Trust for Aon Capital A reports a distribution event dated January 3, 2023. The Trust holds $40,170,000 in aggregate principal amount of Aon Capital A 8.205% Capital Securities due January 1, 2027, which serve as the underlying Term Assets.
Key Financial Metrics
- Distribution Amount: $1.025625 per $25 Certificate (Class A), comprised entirely of interest ($1.025625) with $0.000000 allocated to principal or premium.
- Outstanding Principal: 1,606,800 Certificates representing a total aggregate principal balance of $40,170,000.
- Unpaid Interest: $0.000000 aggregate interest due and not paid as of the Distribution Date.
- Trustee Fees: No fees were paid to the Trustee or other parties from the proceeds of the Term Assets for this period.
- Credit Ratings: The current rating of the Term Assets is not provided in this filing.
Material Changes
The filing does not provide comparative financial data or prior period metrics to assess material changes in revenue, profit, or margins. The report is strictly a notification of a scheduled distribution event.
Outlook, Risks, and Contingencies
Management Commentary: The Trustee explicitly states that neither Structured Products Corp. nor the Trustee participated in the preparation of the underlying issuer's reports, conducted due diligence, or verified the accuracy of the underlying documents.
Risks: There is no assurance that events affecting the underlying issuer (Aon plc) or the securities have not occurred or been disclosed that would impact the accuracy of publicly available documents. Investors are directed to review periodic reports filed by Aon plc (File No. 001-07933) for further information.
Investor Verification Checklist
- Verify the current credit rating of the underlying Aon Capital A 8.205% Capital Securities due 2027 via Standard & Poor's or Moody's.
- Review recent periodic filings (10-K, 10-Q) for Aon plc (File No. 001-07933) to assess the financial health of the underlying issuer.
- Confirm the calculation of the $1.025625 interest distribution against the 8.205% coupon rate and the specific accrual period.
- Monitor for any undisclosed events affecting Aon plc that could impact the Term Assets held by the Trust.