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 April 30, 2018. The trust holds 7.38% Capital Securities due April 6, 2028, issued by PECO Energy Company as underlying Term Assets.
Key Financial Metrics
- Distribution per Certificate: $1.000000 per $25 Class A Certificate (comprising $0.00 principal/premium and $1.00 interest).
- Outstanding Certificates: 1,014,750 Class A Certificates.
- Aggregate Certificate Principal Balance: $25,368,750.
- Underlying Term Assets Held: $27,500,000 aggregate principal amount of PECO Energy Capital Trust III 7.38% Capital Securities.
- Unpaid Interest: $0.00 as of the Distribution Date.
- Trustee Fees: No fees were paid from the proceeds of the Term Assets for this period.
Material Changes
The filing does not disclose material changes in financial position compared to prior periods, as it is a routine distribution notice. The aggregate principal amount of underlying Term Assets remains at $27,500,000.
Guidance, Outlook, and Risks
- Rating Information: 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.
- Disclaimer: Structured Products Corp. and the Trustee have not participated in the preparation of the issuer's reports, nor have they verified the accuracy or completeness of the underlying issuer's information.
- Contingencies: There is no assurance that undisclosed events affecting the issuer (PECO Energy Company) have not occurred which could impact the accuracy of public documents.
Investor Verification Checklist
- Verify the current credit rating of PECO Energy Company and the underlying Term Assets with rating agencies.
- Confirm the receipt of the $1.00 interest distribution per $25 certificate.
- Review PECO Energy Company's periodic reports (File No. 000-16844) for any undisclosed events affecting the underlying securities.
- Note that the Trustee has not performed due diligence on the issuer's financial statements.