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 May 01, 2023. 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 | May 01, 2023 |
| Class A Distribution (Principal) | $0.000000 per $25 Certificate |
| Class A Distribution (Interest) | $1.000000 per $25 Certificate |
| Total Distribution | $1.000000 per $25 Certificate |
| 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 | None |
Material Changes
The filing does not provide comparative financial data or prior period metrics to assess material changes in revenue, profit, or cash flow. The document serves strictly as a notice of the scheduled distribution payment.
Outlook, Risks, and Management Commentary
- Rating Information: The current credit rating of the 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.
- Risk Warning: There is no assurance that events affecting the issuer (PECO Energy Company) have not occurred that would impact the accuracy of publicly available documents.
Key Facts for Investor Verification
- Verify the current credit rating of PECO Energy Company's 7.38% Capital Securities due 2028, as it is not included in this filing.
- Confirm the status of the underlying issuer's periodic reports filed with the SEC to ensure no undisclosed events have occurred.
- Note that the distribution consists entirely of interest ($1.00 per $25 certificate) with no principal repayment.
- Confirm the aggregate principal balance of outstanding certificates remains at $25,368,750.