SEC Filing Summary: STRATS SM TRUST FOR WAL-MART STORES, INC. SECURITIES, SERIES 2005-4
Business Context and Reporting Period
This Form 8-K Current Report was filed on January 7, 2008, by Synthetic Fixed-Income Securities, Inc. on behalf of the STRATS(SM) Trust for Wal-Mart Stores, Inc. Securities, Series 2005-4. The Trust was established under a Base Trust Agreement dated September 26, 2003, and a Series Supplement dated October 17, 2005. The filing reports a specific transaction regarding the surrender of STRATS Certificates.
Key Financial Metrics and Transaction Details
The filing details an optional exchange event rather than standard operating financial metrics. Key figures include:
- Certificates Surrendered: 140,000 STRATS(SM) Certificates, Series 2005-4.
- Aggregate Stated Amount Surrendered: $3,500,000.
- Underlying Asset Received: Wal-Mart Stores, Inc. 7.550% Capital Securities due February 15, 2030.
- Principal Balance of Underlying Asset: $3,500,000.
- Post-Transaction Outstanding Certificates: 633,000 Certificates representing $15,825,000 aggregate principal balance.
- Post-Transaction Underlying Holdings: $15,825,000 aggregate principal amount of Wal-Mart Capital Securities.
The filing text does not provide data on revenue, profit, cash flow, margins, debt, or liquidity, as this is a structured finance trust reporting a specific capital event.
Material Changes Versus Prior Period
The primary material change is the reduction in outstanding STRATS Certificates and the corresponding increase in the Trust's direct holding of Wal-Mart Capital Securities. Following the exchange on January 7, 2008, the outstanding principal balance of the Certificates decreased to $15,825,000.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies. The transaction was executed in accordance with the optional exchange provisions of Section 39 of the Series Supplement. No unusual items were reported beyond the standard exchange mechanism.
Key Facts for Investor Verification
- Verify the terms of the optional exchange under Section 39 of the Series Supplement to confirm the mechanics of the certificate surrender.
- Confirm the current market value of the underlying Wal-Mart Stores, Inc. 7.550% Capital Securities due 2030 held by the Trust.
- Review the total outstanding principal balance of $15,825,000 to assess the remaining exposure of the Trust.
- Check for any subsequent filings regarding further exchanges or distributions related to Series 2005-4.