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 January 7, 2008. The Trust was established to issue synthetic fixed-income securities backed by Dominion Resources, Inc. debt.
Key Financial Metrics and Transaction Details
The filing reports a specific optional exchange transaction rather than standard operating financial metrics (revenue, profit, cash flow) as the entity is a special purpose trust.
- Certificates Surrendered: 100,000 STRATS(SM) Certificates, Series 2005-6.
- Aggregate Stated Amount Surrendered: $2,500,000.
- Underlying Asset Received: Dominion Resources, Inc. 5.950% Senior Notes due June 15, 2035.
- Principal Balance of Notes Received: $2,500,000.
- Outstanding Certificates Post-Transaction: 473,000 Certificates.
- Outstanding Certificate Principal Balance: $11,825,000.
- Underlying Notes Held by Trust Post-Transaction: $11,825,000 aggregate principal amount.
Material Changes
The filing details a reduction in the outstanding principal balance of the STRATS(SM) Certificates and a corresponding reduction in the underlying senior notes held by the Trust. This change resulted from the depositor exercising optional exchange provisions under Section 39 of the Series Supplement.
Guidance, Outlook, and Risks
The filing does not provide forward-looking guidance, management commentary on future performance, or specific risk factors beyond the standard operational mechanics of the Trust. The transaction was executed in accordance with the existing Series Supplement dated November 21, 2005.
Key Facts for Investor Verification
- Verify the current outstanding principal balance of $11,825,000 for Series 2005-6.
- Confirm the terms of the underlying Dominion Resources, Inc. 5.950% Senior Notes due June 15, 2035.
- Review Section 39 of the Series Supplement to understand the optional exchange provisions utilized in this transaction.
- Note that the filing text does not provide data on revenue, profit margins, or liquidity ratios as this is a securitization trust filing.