Business Context and Reporting Period
This Form 8-K is a current report filed by Structured Products Corp. on April 30, 2006, regarding the CorTS Trust for PECO Energy Capital Trust III. The filing serves as a notice of a distribution made to holders of the 8% Corporate-Backed Trust Securities (CorTS) Certificates (CUSIP: 22080R206) issued by the trust.
Key Financial Metrics
- Distribution Amount: $1.000000 per $25 Certificate, consisting entirely of interest ($1.000000) with no principal or premium component ($0.000000).
- Outstanding Certificates: 1,014,750 certificates representing an aggregate principal balance of $25,368,750 as of the close of business on April 30, 2006.
- Underlying Assets: The trust holds $27,500,000 aggregate principal amount of PECO Energy Capital Trust III 7.38% Capital Trust Pass-Through Securities due April 6, 2028.
- Accrued Interest: $0.000000 aggregate interest was due and unpaid as of the Distribution Date.
- Fees: No fees were paid to the Trustee or other parties from the proceeds of the Term Assets.
Material Changes
The filing does not provide comparative financial data or a prior period to assess material changes in revenue, profit, or margins. The report is a routine notification of a scheduled distribution event rather than a periodic financial statement detailing operational changes.
Guidance, Outlook, and Risks
- Rating Information: The current credit rating of the underlying Term Assets is not provided in this report. Investors are directed to contact Standard & Poor's or Moody's for current ratings.
- Due Diligence Disclaimer: Structured Products Corp. and the Trustee explicitly state they did not participate in the preparation of the issuer's periodic reports, nor have they verified the accuracy or completeness of such documents.
- Contingencies: There is no assurance that undisclosed events affecting the issuer or underlying securities have not occurred which could impact the accuracy of publicly available documents.
Investor Verification Checklist
- Verify the current credit rating of the PECO Energy Capital Trust III 7.38% Capital Trust Pass-Through Securities with rating agencies.
- Confirm the accuracy of the $25,368,750 outstanding certificate principal balance against the trust's most recent periodic reports.
- Review the underlying issuer's (PECO Energy) recent filings for any undisclosed events that may affect the Term Assets.
- Ensure the distribution of $1.00 per $25 certificate aligns with the expected yield based on the 8% CorTS rate.