Business Context and Reporting Period
This Form 8-K filing by Structured Products Corp. on behalf of the Credit Enhanced CorTS Trust for Aon Capital A reports a distribution event dated July 3, 2023. The trust holds $40,170,000 in aggregate principal amount of Aon Capital A 8.205% Capital Securities due January 1, 2027, issued by Aon plc. The filing serves as a notice to holders of the 8.205% Corporate-Backed Trust Securities (CorTS) Certificates Class A regarding the distribution made on this date.
Key Financial Metrics
- Outstanding Principal: $40,170,000 (represented by 1,606,800 Certificates).
- Distribution per $25 Certificate: $1.025625 total, consisting entirely of interest ($1.025625) with $0.000000 allocated to principal or premium.
- Accrued Interest: $0.000000 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 disclose material changes to the trust's structure, asset composition, or financial position compared to prior periods. It strictly reports the execution of a scheduled interest distribution. The aggregate principal balance of the certificates remains unchanged at $40,170,000.
Outlook, Risks, and Contingencies
The filing includes standard disclaimers stating that neither Structured Products Corp. nor the trustee has participated in the preparation of the underlying issuer's reports or verified their accuracy. There is no assurance that events affecting Aon plc (the underlying issuer) have not occurred that would impact the securities. The filing does not provide forward-looking guidance, management commentary, or specific risk factors beyond the standard reliance on the underlying issuer's public disclosures.
Investor Verification Checklist
- Verify the current credit rating of Aon plc and the specific 8.205% Capital Securities due 2027, as the filing does not provide this data.
- Confirm the receipt of the $1.025625 per $25 certificate interest payment.
- Review Aon plc's periodic reports (Form 10-K/10-Q) for any undisclosed events affecting the underlying securities.
- Monitor the maturity date of the Term Assets (January 1, 2027) for future principal repayment schedules.