SEC Filing Summary: Structured Products Corp. CorTS Trust for PECO Energy Cap Tr III
Business Context and Reporting Period
This Form 8-K, dated April 30, 2004, serves as a current report for the CorTS Trust for PECO Energy Capital Trust III. The filing primarily communicates the Trustee's Report regarding the distribution event for the 8% Corporate-Backed Trust Securities (CorTS) Certificates (CUSIP: 22080R206). The Trust holds $27,500,000 in aggregate principal amount of PECO Energy Capital Trust III 7.38% Capital Trust Pass-Through Securities due April 6, 2028, as Term Assets.
Key Financial Metrics
- Distribution Date: April 30, 2004
- Distribution per Certificate: $1.000000 (comprising $0.00 principal/premium and $1.00 interest) on a $25 Certificate basis.
- Outstanding Certificates: 1,014,750 certificates representing an aggregate principal balance of $25,368,750.
- Accrued Interest: $0.00 aggregate interest due and not paid as of the Distribution Date.
- Trustee Fees: No fees were paid to the Trustee or other parties from the proceeds of the Term Assets.
- Credit Ratings: The current rating of the Term Assets is not provided in this report.
Material Changes
The filing does not report material changes in control, asset acquisitions or dispositions, bankruptcy, or changes in certifying accountants. The primary activity reported is the scheduled quarterly interest distribution to certificateholders.
Management Commentary, Risks, and Contingencies
The Trustee (U.S. Bank Trust National Association) explicitly disclaims responsibility for the preparation, due diligence, or verification of the accuracy of reports filed by the issuer of the underlying securities (PECO Energy). The filing notes that there can be no assurance that undisclosed events affecting the issuer or underlying securities have not occurred. Investors are directed to the SEC's EDGAR system or rating agencies (Standard & Poor's and Moody's) for further information on the underlying assets.
Investor Verification Checklist
- Verify the current credit rating of the underlying PECO Energy Capital Trust III 7.38% Pass-Through Securities with Standard & Poor's or Moody's, as this report does not contain the rating.
- Confirm the financial health and reporting status of PECO Energy, the issuer of the underlying Term Assets.
- Review the specific terms of the 8% CorTS Certificates to understand the relationship between the $1.00 distribution and the 8% coupon rate.
- Check for any subsequent filings by PECO Energy that may impact the value of the Term Assets held by the Trust.