Business Context and Reporting Period
This Form 8-K filing by Structured Products Corp. on behalf of the CorTS Trust for PECO Energy Capital Trust III reports a distribution event. The report date is November 2, 2015, which serves as the Distribution Date for the 8% Corporate-Backed Trust Securities (CorTS) Certificates Class A.
Key Financial Metrics
- Distribution Amount: $1.000000 per $25 Certificate (entirely interest; $0.000000 principal).
- Outstanding Certificates: 1,014,750 Class A Certificates.
- Aggregate Certificate Principal Balance: $25,368,750.
- Underlying Assets: $27,500,000 aggregate principal amount of PECO Energy Capital Trust III 7.38% Capital Securities due April 6, 2028.
- Unpaid Interest: $0.000000 as of the Distribution Date.
- Trustee Fees: No fees were paid from the proceeds of the Term Assets.
Material Changes
The filing does not disclose material changes in financial position compared to a prior period. It serves as a routine notification of a scheduled distribution payment. The filing text does not provide a clear value for the current credit rating of the underlying Term Assets.
Outlook, Risks, and Management Commentary
The Trustee explicitly states that neither Structured Products Corp. nor the Trustee participated in the preparation of the issuer's reporting documents, conducted due diligence, or verified the accuracy of the underlying issuer's information. Investors are advised that there can be no assurance that undisclosed events affecting the issuer (PECO Energy Company) have not occurred. Credit ratings for the underlying assets are not included in this report and must be obtained directly from rating agencies.
Investor Verification Checklist
- Verify the current credit rating of the underlying PECO Energy Capital Trust III 7.38% Capital Securities with Standard & Poor's or Moody's.
- Confirm the financial health and reporting status of the underlying issuer, PECO Energy Company (File No. 000-16844).
- Review the Trustee's Report (Exhibit 1) for any additional details regarding the distribution mechanics.