Business Context and Reporting Period
This Form 10-K is an annual report for the STRATS Trust For United States Cellular Corporation Securities, Series 2004-6, a common law trust formed in 2003. The reporting period covers the fiscal year ended December 31, 2021. The Trust is a passive vehicle whose assets consist solely of notes issued by United States Cellular Corporation. It is not an operating company and does not generate revenue or profit in the traditional sense; instead, it distributes receipts from the underlying securities to certificateholders.
Key Financial Metrics
The filing explicitly states that standard financial reporting items, including Management's Discussion and Analysis (Item 7) and Financial Statements (Item 8), are Not Applicable due to the Trust's status as a synthetic fixed-income security vehicle. Consequently, the filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. Financial performance is detailed in separate distribution reports filed on Form 8-K, which are incorporated by reference but not reproduced in this document.
Material Changes
The filing does not contain data to compare financial performance against prior periods. It notes that distribution reports for the period from January 1, 2021, through December 31, 2021, were filed on Form 8-K on June 29, 2021, and December 27, 2021. No material changes to the Trust's structure or underlying assets are described in this summary document.
Guidance, Outlook, and Risks
- Guidance and Outlook: Not applicable. The Trust does not provide forward-looking guidance.
- Risk Factors: The filing designates Risk Factors (Item 1A) as Not Applicable. However, the introductory note warns that the Trustee and Depositor have not verified the accuracy of reports filed by the underlying issuer (United States Cellular Corporation) and that events affecting the issuer may impact the Trust.
- Legal Proceedings: None reported.
- Unusual Items: None reported.
Investor Verification Checklist
- Verify the specific distribution amounts and dates by reviewing the Form 8-K filings referenced in Item 15(a) (filed June 29, 2021, and December 27, 2021).
- Review the periodic reports of the underlying issuer, United States Cellular Corporation (SEC File No. 001-09712), to assess the credit quality and performance of the notes held by the Trust.
- Confirm the status of the Class A-1 Certificates listed on the New York Stock Exchange (NYSE).
- Note that the Trustee and Depositor explicitly disclaim responsibility for the accuracy of the underlying issuer's public disclosures.