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, 2016. 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 Amount: $1.025625 per $25 Certificate (Class A), consisting entirely of interest.
- Principal Distribution: $0.000000 per $25 Certificate.
- Outstanding Certificates: 1,606,800 certificates representing a total principal balance of $40,170,000.
- Unpaid Interest: $0.000000 as of the Distribution Date.
- Trustee Fees: No fees were paid to the Trustee or other parties from the Term Assets proceeds during this period.
- Credit Ratings: The current rating of the Term Assets is not provided in this filing.
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 report is limited to the notification of the specific distribution event for the July 1, 2016 date.
Outlook, Risks, and Management Commentary
Management Commentary: The Trustee explicitly states that neither Structured Products Corp. nor the Trustee participated in the preparation of the underlying issuer's reports, conducted due diligence, or verified the accuracy of the underlying documents.
Risks and Contingencies: The filing notes that there can be no assurance that events affecting the underlying issuer (Aon plc) or the securities have not occurred or been disclosed which might impact the accuracy of publicly available documents. Investors are directed to contact rating agencies directly for current credit ratings.
Investor Verification Checklist
- Verify the current credit rating of the underlying Aon Capital A 8.205% Capital Securities due 2027 with Standard & Poor's or Moody's, as it is not included in this report.
- Confirm the financial health and reporting status of the underlying issuer, Aon plc (File No. 001-07933), given the Trustee's disclaimer regarding due diligence.
- Review the specific terms of the Class A Certificates (CUSIP: 22532R101) to understand the distribution schedule and maturity conditions.
- Check for any subsequent filings by Aon plc that may impact the value of the Term Assets held by the Trust.