SEC Filing Summary: STRATS(SM) Trust For Goldman Sachs Group Securities, Series 2006-2
Business Context and Reporting Period
This Form 8-K Current Report was filed on December 5, 2006, by Synthetic Fixed-Income Securities, Inc. on behalf of the STRATS(SM) Trust For Goldman Sachs Group Securities, Series 2006-2. The Trust was established under a Base Trust Agreement dated February 28, 2006, with The Bank of New York serving as trustee. The filing reports a specific transaction regarding the exchange of STRATS Certificates for underlying capital securities.
Key Financial Metrics
The filing details a specific exchange transaction rather than providing standard financial statements (revenue, profit, cash flow). Key metrics reported include:
- Certificates Surrendered: 40,000 STRATS(SM) Certificates, Series 2006-2.
- Aggregate Stated Amount Surrendered: $1,000,000.
- Underlying Asset Received: Goldman Sachs Group 6.125% Capital Securities due February 15, 2033.
- Principal Balance of Asset Received: $1,000,000.
- Outstanding Certificates Post-Transaction: 2,610,000 Certificates.
- Total Outstanding Principal Balance: $65,250,000.
- Total Underlying Securities Held: $65,250,000 aggregate principal amount of Goldman Sachs Group 6.125% Capital Securities.
The filing text does not provide values for revenue, profit, cash flow, margins, debt, or liquidity ratios, as this is a structured finance trust reporting a specific event.
Material Changes
On December 5, 2006, Synthetic Fixed-Income Securities, Inc. exercised optional exchange provisions under Section 39 of the Series Supplement. The company surrendered 40,000 certificates held by it in exchange for the underlying Goldman Sachs capital securities. Consequently, the outstanding principal balance of the Trust decreased from a pre-transaction level of $66,250,000 to $65,250,000.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or outlook. It strictly reports the execution of a contractual exchange provision. No new risks or contingencies were disclosed in this specific report.
Investor Verification Checklist
- Verify the terms of the Goldman Sachs Group 6.125% Capital Securities due February 15, 2033, to understand the underlying asset quality.
- Confirm the total outstanding principal balance of $65,250,000 against subsequent filings to track further redemptions or exchanges.
- Review Section 39 of the Series Supplement to understand the frequency and conditions under which such optional exchanges may occur.
- Check the credit rating of the underlying Goldman Sachs securities, as the Trust's value is directly tied to these assets.