Business Context and Reporting Period
This Form 8-K is a current report filed by Structured Products Corp. on July 1, 2006, regarding the Credit Enhanced CorTS Trust for Aon Capital A. The filing serves as a notice of a distribution made to holders of the 8.205% Corporate-Backed Trust Securities (CorTS) Certificates (CUSIP: 22532R101) on the Distribution Date of July 1, 2006.
Key Financial Metrics
- Distribution per Certificate: $1.025625 per $25 Certificate.
- Principal Component: $0.000000.
- Interest Component: $1.025625.
- Aggregate Outstanding Certificates: 1,606,800 certificates representing a total principal balance of $40,170,000.
- Underlying Assets: $40,170,000 aggregate principal amount of Aon Capital A 8.205% Capital Securities due January 1, 2027.
- Unpaid Interest: $0.000000 as of the Distribution Date.
- Trustee Fees: No fees were paid to the Trustee or other parties from the proceeds of the Term Assets.
Material Changes
The filing does not provide comparative financial data or a prior period for analysis of material changes. It strictly reports the execution of a scheduled interest distribution event.
Guidance, Outlook, and Risks
Management Commentary: The Trustee (U.S. Bank Trust National Association) explicitly states that neither Structured Products Corp. nor the Trustee participated in the preparation of the underlying issuer's reports, conducted due diligence, or verified the accuracy of the underlying documents.
Risks and Contingencies: The filing notes that there can be no assurance that events affecting the issuer of the underlying securities have not occurred or been disclosed which might affect the accuracy of publicly available documents. 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 directly for rating information.
Investor Verification Checklist
- Verify the current credit rating of the underlying Aon Capital A 8.205% Capital Securities due 2027 with rating agencies, as it is not included in this filing.
- Confirm the receipt of the $1.025625 interest distribution per $25 certificate.
- Review periodic reports filed by the underlying issuer (Aon Capital) via the SEC EDGAR system for any undisclosed events affecting the Term Assets.
- Note that the Trustee has not verified the accuracy of the underlying issuer's financial information.