SEC Filing Summary: Structured Products Corp. (Credit-Enhanced CorTS Trust For Aon Capital A)
Business Context and Reporting Period
This Form 10-K covers the fiscal year ended December 31, 2004. The registrant is a special purpose trust established by Structured Products Corp. (the "Depositor") to issue Credit-Enhanced Corporate-Backed Trust Securities (Credit-Enhanced CorTS) Certificates. The underlying assets are securities issued or guaranteed by Aon Corporation. The Certificates are listed on the New York Stock Exchange and held by Cede & Co. as nominee for The Depository Trust Company. As of the report date, all common stock of the Registrant is held by Citigroup Global Markets Holdings Inc.
Financial Metrics
The filing explicitly states that standard financial reporting items are Not Applicable or None due to the nature of the trust structure and SEC no-action letters (CABCO). Consequently, the filing does not provide specific values for:
- Revenue, profit, or cash flow.
- Operating margins.
- Debt levels or liquidity ratios.
- Selected Financial Data (Item 6).
- Management's Discussion and Analysis (Item 7).
Investors are directed to the periodic reports of the underlying issuer, Aon Corporation (File No. 001-07933), for financial performance data.
Material Changes
The filing does not disclose material changes in financial condition or operations for the period. The document serves primarily as a compliance filing to maintain the registration of the Certificates. Distribution information for the periods ending January 1, 2004, and July 1, 2004, was previously filed on Form 8-K and incorporated by reference, but specific distribution amounts are not detailed in this text.
Guidance, Outlook, and Risks
Guidance and Outlook: The filing contains no management commentary, guidance, or outlook regarding future performance.
Risks and Contingencies: The filing includes a standard disclaimer that neither the Depositor nor the Trustee has verified the accuracy of reports filed by the underlying issuer (Aon Corporation). There is no assurance that undisclosed events affecting the underlying securities have not occurred. The Trustee (U.S. Bank Trust National Association) certified in Exhibit 99.1 that it fulfilled its obligations under the trust agreement for the reporting period.
Key Facts for Investor Verification
- Underlying Asset Health: Verify the current financial status and credit rating of Aon Corporation, as the trust's value is entirely dependent on the underlying securities.
- Distribution History: Review the specific Form 8-K filings referenced (filed Jan 13, 2004, and July 15, 2004) to confirm actual distribution amounts received by certificate holders.
- Trustee Compliance: Confirm the Annual Compliance Report (Exhibit 99.1) indicates no breaches of the trust agreement by the Trustee.
- Ownership Structure: Note that the Registrant is a wholly-owned subsidiary of Citigroup Global Markets Holdings Inc., though the Certificates represent interests in the Trust, not the Depositor.