SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 1, 1998
STRUCTURED PRODUCTS CORP. ON BEHALF OF
TIERSsm CORPORATE BOND-BACKED CERTIFICATES TRUST IBM 1997-4
TIERSsm CORPORATE BOND-BACKED CERTIFICATES TRUST BLS 1997-6
TIERSsm CORPORATE BOND-BACKED CERTIFICATES TRUST APA 1997-8
TIERSsm CORPORATE BOND-BACKED CERTIFICATES TRUST JPM 1998-2
TIERSsm CORPORATE BOND-BACKED CERTIFICATES TRUST LTR 1998-4
TIERSsm CORPORATE BOND-BACKED CERTIFICATES TRUST MOT 1998-5
TIERSsm CORPORATE BOND-BACKED CERTIFICATES TRUST C 1998-6
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 33-55860 13-3692801
(STATE OR OTHER (COMMISSION (IRS EMPLOYER
JURISDICTION OF FILE IDENTIFICATION
INCORPORATION OR NUMBER) NUMBER)
ORGANIZATION)
ROOM 33-130, 33RD FLOOR, SEVEN WORLD TRADE CENTER, NEW YORK, NEW YORK 10048
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER INCLUDING AREA CODE (212) 783-6645.
_________________________________N/A__________________________________
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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Item 1. CHANGES IN CONTROL OF REGISTRANT.
NOT APPLICABLE.
Item 2. ACQUISITION OR DISPOSITION OF ASSETS.
NOT APPLICABLE.
Item 3. BANKRUPTCY OR RECEIVERSHIP.
NOT APPLICABLE.
Item 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
NOT APPLICABLE.
Item 5. OTHER EVENTS.
NOT APPLICABLE.
Item 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS.
NOT APPLICABLE.
Item 7. FINANCIAL STATEMENTS, PRO-FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) NOT APPLICABLE.
(b) NOT APPLICABLE.
(c) EXHIBITS.
TRUSTEE'S REPORT WITH RESPECT TO DECEMBER 1, 1998 DISTRIBUTION
DATE FOR TIERS TRUST IBM 1997-4. NO REPORTS FOR THE OTHER SERIES
LISTED ABOVE ARE REQUIRED.
Item 8. CHANGE IN FISCAL YEAR.
NOT APPLICABLE.
2
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
STRUCTURED PRODUCTS CORP.
By:/s/ TIMOTHY P. BEAULAC
-------------------------------------
Name: Timothy P. Beaulac
Title:President and Finance Officer
Dated: December 1, 1998
3
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EXHIBIT INDEX
EXHIBIT PAGE
1. Trustee's Report in respect of the December 1, 1998
Distribution Date 5
4
To the Holders of
Trust Investment Enhanced Return Securitiessm
Corporate Bond-Backed Certificates, Series IBM 1997-4
ZTF Class
Amortizing Class
Pursuant to Section 4.2 of the Trust Agreement, U.S. Bank Trust National
Association, formerly First Trust of New York, National Association, as Trustee
for the TIERS Corporate Bond-Backed Certificates Trust, Series IBM 1997-4,
hereby gives notice with respect to the Distribution occurring on December 1,
1998 (the "Distribution Date") as follows:
1. The amount of the distribution payable to the Certificateholders of each
class of Certificates on the Distribution Date allocable to principal and
premium, if any, and interest expressed as a dollar amount per $1,000 original
face amount of securities, is as set forth below:
Class Principal Interest Total Distribution
ZTF Class $0.00 $0.00 $0.00
Amortizing Class $12.34707 $36.31233 $48.6594
2. The amount of aggregate interest due and not paid as of the Distribution Date
is $0.00. The interest accreted on the ZTF class during the period is $7.65395
expressed as a dollar amount per $1,000 original face amount of securities.
3. No fees have been paid to the Trustee or any other party from the proceeds of
the Term Assets.
4. The aggregate stated principal amount of the IBM 7 1/8% Debentures due
December 1, 2096 held for the above trust (the "Term Assets") is $100,000,000.
The Term Assets are currently rated A1 by Moody's Investors Service, Inc. and A
by Standard and Poor's Ratings Group.
5. The Aggregate Certificate Principal Balance of each class of Certificates at
the close of business on the Distribution Date is set forth below:
Class Principal Balance
ZTF Class $100,000,000.00
Amortizing Class $71,437,095.70
U.S. BANK TRUST NATIONAL ASSOCIATION
