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, 2019. The trust holds 7.38% Capital Securities due April 6, 2028, issued by PECO Energy Company (the "Term Assets").
Key Financial Metrics
- Distribution per Certificate: $1.000000 per $25 Class A Certificate (entirely interest; $0.00 principal).
- Aggregate Term Assets Held: $27,500,000.
- Outstanding Certificates: 1,014,750 Class A Certificates.
- Aggregate Certificate Principal Balance: $25,368,750.
- Unpaid Interest: $0.00 as of the distribution date.
- Trustee Fees: No fees were paid from the proceeds of the Term Assets.
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 Term Assets held 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.
- Due Diligence Disclaimer: Neither Structured Products Corp. nor the trustee has verified the accuracy or completeness of the issuer's (PECO Energy Company) reports. There is no assurance that undisclosed events have not occurred that could affect the underlying securities.
- Outlook: No forward-looking guidance or management commentary is included in this filing.
Investor Verification Checklist
- Verify the current credit rating of PECO Energy Company's 7.38% Capital Securities due 2028 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 assets.
- Note that the trustee has not performed due diligence on the issuer's financial condition.