SEC Filing Summary: STRATS SM TRUST FOR U S CELL CORP SEC SERIES 2004 6
Business Context and Reporting Period
This Form 10-K covers the fiscal year ended December 31, 2025, for the STRATS Trust For United States Cellular Corporation Securities, Series 2004-6 (the "Trust"). The Trust is a common law trust formed in 2003, with Synthetic Fixed-Income Securities, Inc. acting as the Depositor and U.S. Bank Trust National Association as the Trustee. The Trust's assets consist solely of notes issued by United States Cellular Corporation. The Class A-1 Certificates are listed on the New York Stock Exchange (NYSE).
Due to staff administrative positions regarding Corporate Asset Backed Corporations, the Trust is not required to respond to most standard Form 10-K items (Items 1, 1A, 2, 7, 7A, 8, 9A, 10, 11, 12, 14, and 16), which are marked as "Not Applicable."
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity within the body of this 10-K. Instead, the Trust operates by distributing receipts from the underlying assets to certificateholders.
- Revenue/Profit: Not applicable; the Trust distributes income generated by the underlying United States Cellular Corporation notes.
- Cash Flow/Liquidity: Specific cash flow figures are not disclosed in this summary document.
- Distribution Activity: Distribution reports detailing receipts and distributions are filed on Form 8-K. Two distributions were reported for the 2025 fiscal year with distribution dates of June 16, 2025, and December 15, 2025.
Material Changes
The filing does not disclose specific material changes in financial condition or operations compared to the prior period, as the standard Management's Discussion and Analysis (Item 7) and Financial Statements (Item 8) are not applicable. Investors are directed to the Form 8-K distribution reports for details on receipts and distributions.
Guidance, Outlook, and Risks
Guidance and Outlook: The filing contains no management guidance or outlook, as Item 7 (MD&A) is not applicable.
Risks and Contingencies:
- Issuer Dependency: The Trust's performance is entirely dependent on the underlying notes issued by United States Cellular Corporation. The Trustee and Depositor have not verified the accuracy of the issuer's reports.
- Information Limitations: There is no assurance that events affecting the issuer have not occurred that would impact the accuracy of publicly available documents.
- Legal Proceedings: The registrant reported no legal proceedings (Item 3).
Investor Verification Checklist
- Verify the current status and creditworthiness of United States Cellular Corporation, the issuer of the underlying assets.
- Review the specific Form 8-K distribution reports filed on June 30, 2025, and December 19, 2025, for actual cash distribution amounts and receipt details.
- Confirm the market price of the Class A-1 Certificates on the NYSE, as the filing notes the registrant has no voting stock held by non-affiliates.
- Check for any recent Form 8-K filings regarding the underlying issuer that may not yet be reflected in the Trust's distribution reports.