Business Context and Reporting Period
This Form 8-K filing by Structured Products Corp. relates to the CorTS Trust for PECO Energy Capital Trust III. The report covers the distribution event dated October 31, 2004. The trust holds 7.38% Capital Trust Pass-Through Securities issued by PECO Energy Capital Trust III, which serve as the underlying assets for the 8% Corporate-Backed Trust Securities (CorTS) Certificates.
Key Financial Metrics
| Metric | Value |
|---|---|
| Distribution Date | October 31, 2004 |
| Distribution per $25 Certificate | $1.000000 (Interest only) |
| Principal Repayment per Certificate | $0.000000 |
| Aggregate Term Assets Held | $27,500,000 |
| Outstanding Certificates | 1,014,750 |
| Aggregate Certificate Principal Balance | $25,368,750 |
| Unpaid Interest | $0.000000 |
| Trustee Fees Paid from Proceeds | None |
Material Changes
The filing does not disclose material changes in financial performance compared to prior periods, as it is a routine distribution notice. The distribution consisted entirely of interest payments with no principal repayment. The aggregate principal amount of the underlying Term Assets remains at $27,500,000.
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 or underlying securities have not occurred which could impact the accuracy of publicly available documents.
Investor Verification Checklist
- Verify the current credit rating of the PECO Energy Capital Trust III 7.38% Capital Trust Pass-Through Securities with rating agencies.
- Review the issuer's (PECO Energy) most recent periodic reports filed with the SEC for any undisclosed events affecting the underlying assets.
- Confirm the calculation of the $1.00 per $25 certificate distribution aligns with the 8% annual coupon rate.
- Monitor for any future filings regarding principal repayments or changes in the aggregate principal balance of the Term Assets.