Business Context and Reporting Period
This Form 8-K is a current report filed by Structured Products Corp. on behalf of the Credit Enhanced CorTS Trust for Aon Capital A. The report covers the distribution event dated July 1, 2020. The Trust holds capital securities issued by Aon plc (the underlying issuer) to support the payment of distributions to Certificateholders.
Key Financial Metrics
- Distribution Amount: $1.025625 per $25 Certificate (Class A), consisting entirely of interest ($1.025625) with $0.000000 allocated to principal or premium.
- Outstanding Principal: $40,170,000 aggregate principal amount of Certificates (1,606,800 certificates).
- Underlying Assets: $40,170,000 aggregate principal amount of Aon Capital A 8.205% Capital Securities due January 1, 2027.
- Unpaid Interest: $0.000000 as of the Distribution Date.
- Trustee Fees: No fees were paid to the Trustee or other parties from the proceeds of the Term Assets for this period.
Material Changes
The filing does not disclose material changes in financial performance compared to prior periods, as it is a routine distribution notice. The filing confirms the successful payment of the scheduled interest distribution without any principal reduction or arrears.
Guidance, Outlook, and Risks
- 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 underlying issuer's reports, nor have they verified the accuracy or completeness of such documents.
- Contingencies: There is no assurance that undisclosed events affecting the underlying issuer (Aon plc) have not occurred which could impact the accuracy of publicly available documents.
Investor Verification Checklist
- Verify the current credit rating of Aon plc and the specific 8.205% Capital Securities due 2027 with rating agencies.
- Review Aon plc's periodic SEC filings (File No. 001-07933) for any undisclosed events affecting the underlying assets.
- Confirm the calculation of the $1.025625 interest payment against the 8.205% coupon rate and the specific accrual period.
- Monitor future 8-K filings for any notices of principal payments, defaults, or rating downgrades.