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 May 2, 2016. The Trust holds $27,500,000 in aggregate principal amount of PECO Energy Capital Trust III 7.38% Capital Securities due April 6, 2028 (the "Term Assets").
Key Financial Metrics
| Metric | Value |
|---|---|
| Distribution Date | May 2, 2016 |
| Outstanding Class A Certificates | 1,014,750 |
| Aggregate Certificate Principal Balance | $25,368,750 |
| Principal Distribution per $25 Certificate | $0.000000 |
| Interest Distribution per $25 Certificate | $1.000000 |
| Total Distribution per $25 Certificate | $1.000000 |
| Aggregate Interest Due and Unpaid | $0.000000 |
| Trustee Fees Paid from Term Assets | $0.00 |
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 serves solely as a notice of the scheduled distribution payment.
Guidance, Outlook, and Risks
- Management Commentary: The filing explicitly states that neither Structured Products Corp. nor the trustee has participated in the preparation of the issuer's reporting documents, made due diligence investigations, or verified the accuracy of the underlying information.
- Risks and Contingencies: There is no assurance that events affecting the issuer (PECO Energy Company) or the underlying securities have not occurred which would affect the accuracy of publicly available documents.
- Ratings: 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.
Investor Verification Checklist
- Verify the current credit rating of the PECO Energy Capital Trust III 7.38% Capital Securities due 2028 with rating agencies.
- Confirm the financial health and reporting status of the underlying issuer, PECO Energy Company (File No. 000-16844).
- Review the Trustee's Report (Exhibit 1) for any additional details regarding the distribution calculation.
- Check for any undisclosed events affecting the issuer that may impact the security's value.