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 January 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 Date: January 3, 2017
- Underlying Asset: Aon Capital A 8.205% Capital Securities due 2027
- Aggregate Principal Held: $40,170,000
- Outstanding Certificates: 1,606,800 (representing $40,170,000 aggregate principal balance)
- Distribution per $25 Certificate (Class A): $1.025625 (comprising $0.000000 principal/premium and $1.025625 interest)
- Accrued Unpaid Interest: $0.000000
- Trustee Fees Paid from Proceeds: None
Material Changes
The filing does not disclose material changes in financial position compared to a prior comparable period, as it is a routine distribution notice. The filing confirms that the full interest amount was distributed with no arrears.
Guidance, Outlook, and Risks
- Rating Information: The current rating of the 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: Neither Structured Products Corp. nor the Trustee participated in the preparation of the underlying issuer's reports, verified their accuracy, or conducted due diligence. There is no assurance that undisclosed events have not occurred that would affect the accuracy of public documents regarding the underlying issuer (Aon plc).
- Outlook: No forward-looking guidance or management commentary is included in this filing.
Investor Verification Checklist
- Verify the current credit rating of the underlying Aon Capital A 8.205% Capital Securities due 2027 with rating agencies.
- Confirm the financial health and recent disclosures of the underlying issuer, Aon plc (File No. 001-07933), as the Trustee has not verified these documents.
- Ensure the distribution amount of $1.025625 per $25 certificate aligns with the expected yield of the 8.205% underlying securities.
- Check for any subsequent events or defaults affecting Aon plc that may not yet be reflected in the Trust's public filings.