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, 2022. 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
- Distribution per Certificate: $1.000000 per $25 Class A Certificate.
- Distribution Composition: $0.000000 principal/premium and $1.000000 interest.
- Outstanding Certificates: 1,014,750 Class A Certificates.
- Aggregate Certificate Principal Balance: $25,368,750.
- Unpaid Interest: $0.000000 as of the Distribution Date.
- Trustee Fees: No fees were paid from the proceeds of the Term Assets.
Material Changes
The filing does not provide comparative financial data or prior period metrics to assess material changes in revenue, profit, or margins. The document serves strictly as a notice of the scheduled distribution payment.
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 underlying issuer's reports, nor have they verified the accuracy or completeness of such documents. There is no assurance that undisclosed events have not occurred that would affect the accuracy of publicly available documents.
- Underlying Issuer: PECO Energy Company (Exchange Act File Number 000-16844).
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 receipt of the $1.00 interest distribution per $25 certificate.
- Review periodic reports filed by PECO Energy Company for any undisclosed events affecting the underlying securities.
- Note that the Trustee has not performed due diligence on the underlying issuer's financial condition.