Business Context and Reporting Period
This Form 8-K is a current report filed by Structured Products Corp. on behalf of the CorTS Trust for PECO Energy Capital Trust III. The report covers the distribution event dated April 30, 2007. The Trust holds $27,500,000 in aggregate principal amount of PECO Energy Capital Trust III 7.38% Capital Trust Pass-Through Securities due April 6, 2028, referred to as the "Term Assets."
Key Financial Metrics
| Metric | Value |
|---|---|
| Distribution Date | April 30, 2007 |
| Outstanding Certificates | 1,014,750 |
| Aggregate Certificate Principal Balance | $25,368,750 |
| Distribution per $25 Certificate (Principal) | $0.000000 |
| Distribution per $25 Certificate (Interest) | $1.000000 |
| Total Distribution per $25 Certificate | $1.000000 |
| Aggregate Interest Due and Unpaid | $0.000000 |
| Fees Paid from Term Assets | None |
Material Changes
The filing does not provide comparative financial data or a prior period for analysis of material changes. The report focuses solely on the execution of the scheduled distribution for the April 30, 2007 period.
Outlook, Risks, and Management Commentary
- Rating Information: The current credit rating of the Term Assets is not provided in this report. Holders are directed to contact Standard & Poor's or Moody's directly for rating information.
- Disclaimer: Structured Products Corp. and the Trustee explicitly state they have not participated in the preparation of the underlying issuer's reports, have not conducted due diligence, and have not verified the accuracy or completeness of the underlying issuer's documents.
- Risk Warning: There is no assurance that events affecting the underlying issuer (PECO Energy Company) have not occurred or been disclosed that would impact the accuracy of publicly available documents.
Investor Verification Checklist
- Verify the current credit rating of the PECO Energy Capital Trust III Term Assets with rating agencies, as it is not included in this filing.
- Confirm the status of the underlying issuer, PECO Energy Company (File No. 000-16844), by reviewing their periodic Exchange Act filings.
- Validate the calculation of the $1.000000 interest distribution per $25 certificate against the 7.38% coupon rate of the underlying Term Assets.
- Review the Trustee's Report (Exhibit 1) for any additional details regarding the distribution mechanics not summarized here.