SEC Filing Summary: STRATS(SM) Trust For Allstate Corp Securities, Series 2006-3
Business Context and Reporting Period
This Form 8-K Current Report was filed on October 5, 2007, by Synthetic Fixed-Income Securities, Inc. on behalf of the STRATS(SM) Trust For Allstate Corporation Securities, Series 2006-3. The Trust was established under a Base Trust Agreement dated February 28, 2006, with The Bank of New York serving as trustee.
Key Financial Metrics and Transaction Details
The filing reports a specific optional exchange event rather than standard operating financial metrics such as revenue or cash flow. The key transaction details are as follows:
- Certificates Surrendered: 196,000 STRATS(SM) Certificates, Series 2006-3.
- Aggregate Stated Amount Surrendered: $4,900,000.
- Underlying Securities Received: Allstate Group 6.125% Capital Securities due February 15, 2033.
- Principal Balance of Securities Received: $4,900,000.
- Remaining Trust Holdings (Post-Exchange): $30,100,000 aggregate principal amount of Allstate Corporation 5.95% Notes due 2036.
- Outstanding Certificates (Post-Exchange): 1,204,000 Certificates representing $30,100,000 aggregate principal balance.
Material Changes
The material change reported is the reduction of outstanding STRATS(SM) Certificates and the corresponding reduction in the Trust's holdings of Allstate Corporation 5.95% Notes due 2036, resulting from the optional exchange provision under Section 39 of the Series Supplement. The filing text does not provide comparative financial data for prior periods.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies beyond the execution of the contractual exchange provision. The filing text does not provide a clear value for any unusual items outside of the reported exchange.
Key Facts for Investor Verification
- Verify the terms of the optional exchange provision in Section 39 of the Series Supplement.
- Confirm the current market value of the remaining $30,100,000 in Allstate Corporation 5.95% Notes due 2036 held by the Trust.
- Review the credit rating and financial health of Allstate Corporation regarding the underlying capital securities and notes.
- Check for any subsequent filings regarding further exchanges or distributions from the Trust.