Business Context and Reporting Period
This Form 8-K filing by Structured Products Corp. on behalf of the CorTS Trust for PECO Energy Capital Trust III reports a distribution event for the period ending October 31, 2024. The trust holds 7.38% Capital Securities due April 6, 2028, issued by PECO Energy Company as underlying "Term Assets."
Key Financial Metrics
| Metric | Value |
|---|---|
| Distribution Date | October 31, 2024 |
| Class A Distribution (Interest) | $1.000000 per $25 Certificate |
| Class A Distribution (Principal) | $0.000000 per $25 Certificate |
| Total Distribution per Certificate | $1.000000 |
| Aggregate Term Assets Held | $27,500,000 |
| Outstanding Class A Certificates | 1,014,750 |
| Aggregate Certificate Principal Balance | $25,368,750 |
| Unpaid Interest | $0.000000 |
| Trustee Fees Paid from Proceeds | $0.00 |
Material Changes
This filing represents a routine quarterly distribution event. There are no material changes to the principal balance of the certificates or the underlying Term Assets reported in this document. The filing confirms that no principal payments were made, only interest.
Outlook, Risks, and Contingencies
- 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 have not participated in the preparation of the issuer's reports, nor have they verified the accuracy or completeness of the underlying issuer's information.
- Contingencies: The filing notes there can be no assurance that undisclosed events affecting the issuer (PECO Energy Company) have not occurred which might impact the accuracy of public documents.
Investor Verification Checklist
- Verify the current credit rating of PECO Energy Company's 7.38% Capital Securities due 2028 with rating agencies.
- Confirm the calculation of the $1.00 distribution per $25 certificate aligns with the 8% coupon rate for the Class A Certificates.
- Review PECO Energy Company's most recent periodic filings (10-K/10-Q) for any undisclosed events affecting the underlying assets.
- Confirm the outstanding principal balance of $25,368,750 matches internal records.