Business Context and Reporting Period
This Form 8-K filing by Structured Products Corp. on behalf of the CorTS Trust for PECO Energy Capital Trust III reports a distribution event for the period ending October 31, 2023. The Trust holds 7.38% Capital Securities due April 6, 2028, issued by PECO Energy Company (the "Term Assets").
Key Financial Metrics
| Metric | Value |
|---|---|
| Distribution per $25 Certificate (Class A) | $1.000000 |
| Principal Component | $0.000000 |
| Interest Component | $1.000000 |
| Aggregate Term Assets Held | $27,500,000 |
| Outstanding Class A Certificates | 1,014,750 |
| Aggregate Certificate Principal Balance | $25,368,750 |
| Unpaid Interest | $0.000000 |
| Trustee Fees Paid from Proceeds | $0.00 |
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 held remains at $27,500,000.
Outlook, Risks, and Contingencies
- Rating Information: The current credit rating of the 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 issuer's reports, nor have they verified the accuracy or completeness of the underlying issuer's information.
- Contingencies: There is no assurance that undisclosed events affecting the issuer (PECO Energy Company) have not occurred that could impact the accuracy of public documents.
Investor Verification Checklist
- Verify the current credit rating of PECO Energy Company's 7.38% Capital Securities due 2028 with rating agencies.
- Confirm the status of PECO Energy Company's periodic reports filed with the SEC to ensure no undisclosed adverse events have occurred.
- Validate the calculation of the $1.00 interest distribution per $25 certificate against the 8% coupon rate of the Class A Certificates.