Business Context and Reporting Period
This Form 8-K is a current report filed by Structured Products Corp. on behalf of the CorTS Trust for PECO Energy Capital Trust III. The report date is November 2, 2009, which serves as the Distribution Date for the trust's 8% Corporate-Backed Trust Securities (CorTS) Certificates. The underlying securities are guaranteed by PECO Energy Company.
Key Financial Metrics
| Metric | Value |
|---|---|
| Distribution per $25 Certificate | $1.000000 |
| Principal Component | $0.000000 |
| Interest Component | $1.000000 |
| Aggregate Interest Due and Unpaid | $0.000000 |
| Term Assets Held | $27,500,000 (7.38% Capital Trust Pass-Through Securities due 2028) |
| Outstanding Certificates | 1,014,750 |
| Aggregate Certificate Principal Balance | $25,368,750 |
The filing does not provide data on revenue, profit, cash flow, margins, debt, or liquidity for the trust itself, as it is a pass-through vehicle. No fees were paid to the Trustee from the proceeds of the Term Assets for this period.
Material Changes
The filing does not disclose material changes in financial position compared to prior periods. It serves strictly as a notification of the scheduled distribution event. The aggregate principal amount of Term Assets held remains at $27,500,000.
Guidance, Outlook, and Risks
There is no forward-looking guidance or management commentary included in this report. The filing contains standard risk disclosures stating that neither Structured Products Corp. nor the trustee has verified the accuracy of the issuer's (PECO Energy Company) periodic reports. Investors are advised that events affecting the issuer may occur that are not yet publicly disclosed, which could impact the underlying securities.
Investor Verification Checklist
- Verify the current credit rating of the underlying Term Assets (PECO Energy Capital Trust III 7.38% Securities) via Standard & Poor's or Moody's, as the filing does not provide the current rating.
- Confirm the status of PECO Energy Company's financial health and any recent filings with the SEC (File Number 000-16844).
- Ensure the distribution of $1.00 per $25 certificate was received as scheduled on November 2, 2009.
- Note that the Trustee has not performed due diligence on the issuer's reports; investors must rely on the issuer's direct disclosures.