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 January 2, 2013. The Trust holds $40,170,000 in aggregate principal of Aon Capital A 8.205% Capital Securities due January 1, 2027, which serve as the underlying Term Assets.
Key Financial Metrics
- Distribution Date: January 2, 2013
- Outstanding Certificates: 1,606,800 Class A Certificates
- Aggregate Principal Balance: $40,170,000
- Distribution per $25 Certificate: $1.025625 (comprising $0.000000 principal/premium and $1.025625 interest)
- Accrued Interest Unpaid: $0.000000
- Trustee Fees Paid from Proceeds: None
Material Changes
The filing does not disclose material changes in financial position 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 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) 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.
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.
- Confirm the financial health and recent disclosures of the underlying issuer, Aon plc (File No. 001-07933).
- Review the Trustee's Report (Exhibit 1) for any additional details on the distribution calculation.