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, 2012. The trust holds 7.38% Capital Securities due April 6, 2028, issued by PECO Energy Company.
Key Financial Metrics
- Distribution Amount: $1.000000 per $25 Class A Certificate (entirely interest; $0.00 principal).
- Outstanding Certificates: 1,014,750 Class A Certificates.
- Aggregate Certificate Principal Balance: $25,368,750.
- Underlying Term Assets: $27,500,000 aggregate principal amount of PECO Energy Capital Trust III 7.38% Capital Securities.
- Unpaid Interest: $0.00 as of the distribution date.
- Trustee Fees: No fees were paid from the proceeds of the Term Assets for this period.
Material Changes
The filing does not provide comparative financial data or prior period metrics to determine material changes in revenue, profit, or cash flow. The document serves strictly as a notice of the scheduled distribution payment.
Guidance, Outlook, and Risks
- Rating Information: The current credit rating of the underlying 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 underlying issuer's reports, nor have they verified the accuracy or completeness of such documents.
- Contingencies: There is no assurance that undisclosed events affecting the underlying issuer (PECO Energy Company) have not occurred which could impact the accuracy of publicly available documents.
Investor Verification Checklist
- Verify the current credit rating of PECO Energy Company and the underlying 7.38% Capital Securities with rating agencies.
- Confirm the receipt of the $1.00 per $25 certificate distribution.
- Review periodic reports filed by PECO Energy Company (File No. 000-16844) for any undisclosed events affecting the underlying assets.
- Note that the Trustee has not performed due diligence on the underlying issuer's financial condition.