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, 2013. The trust holds 7.38% Capital Securities due April 6, 2028, issued by PECO Energy Company, which serves as the underlying securities issuer.
Key Financial Metrics
| Metric | Value |
|---|---|
| Distribution Date | April 30, 2013 |
| Aggregate Principal of Term Assets | $27,500,000 |
| Outstanding Class A Certificates | 1,014,750 |
| Aggregate Certificate Principal Balance | $25,368,750 |
| Distribution per $25 Certificate (Principal) | $0.000000 |
| Distribution per $25 Certificate (Interest) | $1.000000 |
| Total Distribution per $25 Certificate | $1.000000 |
| Unpaid Interest | $0.000000 |
| Trustee Fees Paid | None |
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 document is a routine notification of a scheduled distribution payment rather than a periodic financial report detailing operational changes.
Outlook, Risks, and Management Commentary
- 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.
- 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.
- Risk Warning: There is no assurance that events affecting the issuer (PECO Energy Company) have not occurred or been disclosed that could impact the accuracy of publicly available documents.
Investor Verification Checklist
- Verify the current credit rating of PECO Energy Company and the underlying Term Assets with rating agencies.
- Confirm the receipt of the $1.00 per $25 certificate interest distribution.
- Review PECO Energy Company's periodic filings (Form 10-K/10-Q) for any undisclosed events affecting the underlying securities.
- Note that the trustee has not performed due diligence on the issuer's financial condition.