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, 2011. The trust holds 7.38% Capital Securities due April 6, 2028, issued by PECO Energy Company.
Key Financial Metrics
- Distribution per Certificate: $1.000000 per $25 Class A Certificate (comprising $0.00 principal and $1.00 interest).
- 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.
Material Changes
The filing does not provide comparative financial data or prior period metrics to assess material changes in revenue, profit, or margins. The document serves solely 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 issuer's periodic reports, nor have they verified the accuracy or completeness of the 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 publicly available documents.
Investor Verification Checklist
- Verify the current credit rating of PECO Energy Company and the underlying 7.38% Capital Securities via Standard & Poor's or Moody's.
- Review PECO Energy Company's most recent periodic reports (10-K/10-Q) filed under Exchange Act File Number 000-16844 for operational and financial health.
- Confirm the calculation of the $1.00 interest distribution against the 7.38% coupon rate and the specific distribution period.
- Monitor for any subsequent filings regarding the issuer's ability to meet future payment obligations.