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 for the period ending July 3, 2017. 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), consisting entirely of interest.
- Principal Distribution: $0.000000.
- Outstanding Certificates: 1,606,800 certificates representing a total principal balance of $40,170,000.
- Unpaid Interest: $0.000000 as of the Distribution Date.
- Trustee Fees: No fees were paid to the Trustee or other parties from the proceeds of the Term Assets.
- Credit Ratings: The filing does not provide the current rating of the Term Assets.
Material Changes
The filing does not disclose material changes in financial position compared to prior periods, as it is a routine distribution notice. The aggregate principal amount of Term Assets held remains at $40,170,000.
Guidance, Outlook, and Risks
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 and Contingencies: The filing notes that there can be no assurance that events affecting the underlying issuer (Aon plc) have not occurred or been disclosed which might affect the accuracy of publicly available documents. Investors are directed to contact rating agencies directly for current credit ratings.
Investor Verification Checklist
- Verify the current credit rating of the underlying Aon Capital A 8.205% Capital Securities due 2027 with Standard & Poor's or Moody's, as the filing does not include this data.
- Confirm the financial health and reporting status of the underlying issuer, Aon plc (File No. 001-07933), given the Trustee's disclaimer regarding due diligence.
- Review the specific terms of the 8.205% Capital Securities to understand the payment hierarchy and potential triggers for principal repayment.