Business Context and Reporting Period
This Form 8-K filing by Structured Products Corp. on behalf of the Credit Enhanced CorTS Trust for Aon Capital A reports a distribution event for the period ending July 1, 2024. The Trust holds $40,170,000 in aggregate principal amount of Aon Capital A 8.205% Capital Securities due January 1, 2027 (the "Term Assets") as underlying collateral.
Key Financial Metrics
- Distribution Date: July 1, 2024
- Underlying Asset: Aon Capital A 8.205% Capital Securities due 2027
- Aggregate Principal Held: $40,170,000
- Outstanding Certificates: 1,606,800 (representing $40,170,000 aggregate principal balance)
- Distribution per $25 Certificate (Class A): $1.025625 total ($0.000000 principal; $1.025625 interest)
- Unpaid Interest: $0.000000
- Trustee Fees Paid from Proceeds: None
Material Changes
The filing does not disclose material changes to the financial condition of the Trust compared to prior periods, as it is a routine distribution notice. The aggregate principal amount of Term Assets and outstanding certificates remains consistent with the trust structure described.
Guidance, Outlook, and Risks
- Management Commentary: The Trustee (U.S. Bank Trust National Association) explicitly states it has not participated in the preparation of the underlying issuer's reports, nor has it verified the accuracy or completeness of documents filed by Aon plc.
- Risks and Contingencies: There is no assurance that events affecting the underlying issuer (Aon plc) have not occurred or been disclosed that would impact the accuracy of public documents. The current credit rating of the Term Assets is not provided in this report.
- Outlook: No forward-looking guidance is provided in this filing.
Investor Verification Checklist
- Verify the current credit rating of the underlying Aon Capital A 8.205% Capital Securities due 2027 via Standard & Poor's or Moody's, as it is not included in this report.
- Review recent periodic filings (10-K, 10-Q) for Aon plc (File No. 001-07933) to assess the financial health of the underlying issuer.
- Confirm the calculation of the $1.025625 interest distribution against the 8.205% coupon rate and the specific accrual period.
- Monitor for any undisclosed events affecting Aon plc that could impact the value of the Term Assets.