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 April 30, 2020. The Trust holds 7.38% Capital Securities due April 6, 2028, issued by PECO Energy Company (the "Term Assets").
Key Financial Metrics
- Distribution per Certificate: $1.000000 per $25 Class A Certificate (entirely interest; $0.00 principal).
- Aggregate Term Assets Held: $27,500,000.
- Outstanding Certificates: 1,014,750 Class A Certificates.
- Aggregate Certificate Principal Balance: $25,368,750.
- Unpaid Interest: $0.00 as of the Distribution Date.
- Trustee Fees: No fees were paid from the proceeds of the Term Assets.
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.
Guidance, Outlook, and Risks
- 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 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 receipt of the $1.00 interest distribution per $25 certificate.
- Review PECO Energy Company's periodic reports (File No. 000-16844) for any undisclosed events affecting the underlying securities.
- Note that the Trustee has not performed due diligence on the issuer's financial condition.