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Aon plc (Ireland) | Structured Products CorTS, PECO Energy Cap Trust III, 8% Certificates (KTH)
Prospectus excerpt: Structured Products Corp., 8.0% CorTS (Corporate-Backed Trust Securities) Certificates, principal amount $25 per certificate, issued by CorTS Trust for PECO Energy Capital Trust III, the Trust. The underlying securities are the 7.38% Capital Trust Pass-Through Securities issued by PECO Energy Capital Trust III whose sole assets are the 7.38% Cumulative Preferred Securities, Series D issued by PECO Energy Capital L.P. due 4/06/2028. The sole assets of PECO Energy Capital L.P. are the 7.38% Subordinated Deferrable Interest Debentures, Series D, due 4/06/2028. The CorTS certificates will pay 8.00% dividends semiannually on 4/30 & 10/31 to holders of record on the first day prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The CorTS are redeemable any time at the issuer's option if there is an adverse tax event at $25 per share plus an additional payment of $2.10 plus accrued and unpaid dividends. The company has the right, at any time, to defer interest payments for up to 10 consecutive semiannual periods. The certificates must be rated at least baa2 by Moody's and BBB by S&P to be issued. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. See the IPO prospectus for further information on the CorTS Certificates by clicking on the ‘Link to IPO Prospectus’ provided below. Structured Products Corp. is an indirect, wholly-owned subsidiary of Citigroup Global Markets Holdings Inc., formerly Salomon Smith Barney Holdings, a member of Citigroup (NYSE: C). Full Prospectus PDF », Secondary Prospectus PDF », AON Page »
Redeemable?: | Yes | Maturity Date: | 4/6/2028 | Cumulative?: | Yes | Shares Offered: | 1,014,750 | Liquidation Preference: | $25.00 | Recent Market Price: | $27.89 | Premium to Liquidation Preference: (More Preferreds Trading at a Premium ») | $2.89 (11.56%) | Annualized Dividend: | 2.00 | Recent Ex-Date: | 4/26/2024 | Current Yield: | 7.17% | Original Coupon: | 8.00% | Pay Period: | Biyearly | CDx3 Compliance Rating: |
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Aon is a holding company. Through its subsidiaries, Co. provides advice and solutions to clients focused on risk, health and wealth through four principal products and services. Co.'s Commercial Risk Solutions includes retail brokerage, specialty solutions, global risk consulting and captives management, and Affinity programs. Co.'s Reinsurance Solutions includes treaty reinsurance, facultative reinsurance, Strategy and Technology Group and capital markets. Co.'s Health Solutions includes consulting and brokerage, consumer benefits solutions, and human capital solutions. Co.'s Wealth Solutions includes retirement consulting, pension administration, and investments consulting. Preferreds: KTBA, KTN, KTH Open the AON Information Page »
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Name: |
Aon plc (Ireland) |
Website: |
www.aon.com |
Sector: |
Insurance Brokers |
Number of ETFs Holding AON: |
91 (see which ones) |
Total Market Value Held by ETFs: |
$6,836,869,757.49 |
Total Market Capitalization: |
$60,743,000,000 |
% of Market Cap. Held by ETFs: |
11.26% |
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