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 June 5, 2007. The Trust was established under a Base Trust Agreement dated September 26, 2003, and a Series Supplement dated November 21, 2005.
Key Financial Metrics
The filing details a specific transaction involving the exchange of STRATS(SM) Certificates for underlying senior notes. No revenue, profit, cash flow, or margin data is provided as this is a structured finance trust reporting a specific event rather than an operating company reporting periodic financial results.
- Certificates Surrendered: 18,000 STRATS(SM) Certificates, Series 2005-6.
- Aggregate Stated Amount Surrendered: $450,000.
- Underlying Asset Received: Dominion Resources, Inc. 5.950% Senior Notes due June 15, 2035.
- Principal Balance of Notes Received: $450,000.
- Outstanding Certificates Post-Transaction: 642,000 Certificates.
- Outstanding Certificate Principal Balance: $16,050,000.
- Notes Held by Trust Post-Transaction: $16,050,000 aggregate principal amount.
Material Changes
On June 5, 2007, Synthetic Fixed-Income Securities, Inc. exercised optional exchange provisions under Section 39 of the Series Supplement. The company surrendered 18,000 certificates held by it to the Trust. In exchange, the Trust distributed Dominion Resources, Inc. Senior Notes with a principal balance equal to the stated amount of the surrendered certificates. This transaction reduced the outstanding certificate principal balance from $16,500,000 to $16,050,000.
Guidance, Outlook, and Risks
The filing does not contain management commentary, future guidance, or specific risk factors beyond the standard operational mechanics of the Trust. The transaction was executed in accordance with the optional exchange provisions of the Series Supplement. No unusual items or contingencies were reported.
Investor Verification Checklist
- Verify the terms of Section 39 of the Series Supplement regarding optional exchange provisions.
- Confirm the current market value of the Dominion Resources, Inc. 5.950% Senior Notes due June 15, 2035.
- Review the updated outstanding principal balance of $16,050,000 for Series 2005-6.
- Check for any subsequent filings regarding further exchanges or distributions from the Trust.