Business Context and Reporting Period
This Form 8-K is filed by Synthetic Fixed-Income Securities, Inc. on behalf of the STRATS (SM) Trust for Dominion Resources, Inc. Securities, Series 2005-6. The report covers events occurring on August 5, 2008. The Trust was established to issue synthetic fixed-income securities backed by Dominion Resources, Inc. debt.
Key Financial Metrics
The filing details a specific transaction involving the exchange of certificates for underlying debt securities. No revenue, profit, cash flow, or margin data is provided as this is a special purpose vehicle filing regarding a specific event.
- Certificates Surrendered: 20,000 STRATS (SM) Certificates, Series 2005-6.
- Aggregate Stated Amount Surrendered: $500,000.
- Underlying Asset Received: Dominion Resources, Inc. 5.950% Series B Senior Notes due 2035.
- Principal Balance of Notes Received: $500,000.
- Outstanding Notes Held by Trust (Post-Transaction): $9,825,000.
- Outstanding Certificates (Post-Transaction): 393,000 certificates representing $9,825,000 aggregate principal balance.
Material Changes
On August 5, 2008, the Trust executed an optional exchange under Section 39 of the Series Supplement. Synthetic Fixed-Income Securities, Inc. surrendered certificates held by it in exchange for the underlying senior notes. This transaction reduced the outstanding certificate principal balance from $10,325,000 to $9,825,000.
Guidance, Outlook, and Risks
The filing does not contain management commentary, future guidance, or risk factors beyond the standard disclosure of the exchange event. The transaction was conducted in accordance with the optional exchange provisions of the Series Supplement.
Investor Verification Checklist
- Verify the terms of the optional exchange provisions in Section 39 of the Series Supplement dated November 21, 2005.
- Confirm the current market value of the Dominion Resources, Inc. 5.950% Series B Senior Notes due 2035 held by the Trust.
- Review the updated outstanding principal balance of $9,825,000 for Series 2005-6 certificates.