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): AUGUST 21, 1997
STRUCTURED PRODUCTS CORP.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
DELAWARE 33-55860 13-3692801
- ---------------------- ------------------- ------------------
(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification Number)
Seven World Trade Center
Room 33-130, 33rd Floor
NEW YORK, NY 10048
--------------------------------------- --------------
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code: (212) 783-6645
--------------
N/A
-------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
INFORMATION TO BE INCLUDED IN THE REPORT
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 ACCOUNTANTS.
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) FINANCIAL STATEMENTS OF BUSINESSES ACQUIRED.
Not Applicable.
(b) PRO FORMA FINANCIAL INFORMATION.
Not Applicable.
(c) EXHIBITS.
1. Series Term Sheet dated August 18, 1997.
2
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act
of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
STRUCTURED PRODUCTS CORP.
Date: August 21, 1997 By: /S/ TIMOTHY P. BEAULAC
-----------------------
Timothy P. Beaulac
Assistant Vice President and
Finance Officer
3
<PAGE>
EXHIBIT INDEX
EXHIBIT DESCRIPTION
1. Series Term Sheet dated August 18, 1997
4
<PAGE>
EXBIBIT 1
SUBJECT TO REVISION
SERIES TERM SHEET DATED AUGUST 18, 1997
Neither the Depositor nor any of its affiliates make any representation as to
the accuracy or completeness of the information herein. The information herein
is preliminary, and will be superseded by the applicable prospectus supplement
and by any other information subsequently filed with the Securities and
Exchange Commission. The information addresses only certain aspects of the
applicable security's characteristics and thus does not provide a complete
assessment. As such, the information may not reflect the impact of all
structural characteristics of the security. The assumptions underlying the
information, including structure and collateral, may be modified from time to
time to reflect changed circumstances. The attached term sheet is not intended
to be a prospectus and any investment decision with respect to the Certificates
should be made by you based solely upon all of the information contained in the
final prospectus. Under no circumstances shall the information presented
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of such jurisdiction. The securities may not be sold
nor may an offer to buy be accepted prior to the delivery of a final prospectus
relating to the securities. All information described herein is preliminary,
limited in nature and subject to completion or amendment. No representation is
made that the above referenced securities will actual perform as described in
any scenario presented. The issuer of the Term Assets has not prepared,
reviewed or participated in the preparation hereof, is not responsible for the
accuracy hereof and has not authorized the dissemination hereof. A final
prospectus and prospectus supplement may be obtained by contacting the Salomon
Brothers Syndicate Desk at (212) 783-3727.
TIERS{SM} SERIES CHAMT 1997-7
$200,000,000 Fixed Rate Notes, Class A (the "Notes")
Structured Products Corp.,
depositor (the "Depositor")
Corporate Bond-Backed Security
August 18, 1997
===============================================================================
1
<PAGE>
TIERS{SM} SERIES CHAMT 1997-7
$200,000,000 Fixed Rate Notes, Class A (the "Notes")
Name of Issuer: TIERS{SM} SERIES CHAMT 1997-7
Name of Security: TIERS{SM} Fixed Rate Notes, Class A
Form of Issuance: Debt
Underlying Term Asset: $210,000,000 Chase Credit Card Master Trust Class A
Floating Rate Asset Backed Certificates, Series
1996-4
Expected Settlement Date: September 15, 1997
Expected Maturity Date: November 17, 2003, subject to early redemption
Expected Principal Amount: USD 200,000,000
Coupon Rate: 6,688, payable monthly on the 15th
First Coupon Payment Date: September 15, 1997
Coupon Daycount: 30/360
Expected Pricing: 82/interp
Pricing Speed: 275 PSA
Principal Lockout: 18 months, Amortization commences February 15, 1999
Reference Collateral: 1995 production FHLMC Gold 8.0s (Bloomberg A013)
Principal Repayment: Based on the prepayment expressed in PSA of
Reference Collateral
Redemption Schedule: On every monthly coupon until principal is fully
repaid, the issuer will repay the notes according to
the following schedule, referenced to the collateral
specified above. Amortization amount is calculated
using the amortization factor and the then remaining
principal balance. Period amortization is
interpolated between PSA speeds. WAL's are
calculated to the clean-up call.
This page must be accompanied by the disclaimer on the cover page of these
materials. If you did not receive such a disclaimer please contact your
Salomon Brothers Financial Advisor immediately.
2
<PAGE>
TIERS{SM} SERIES CHAMT 1997-7
$200,000,000 Fixed Rate Notes, Class A (the "Notes")
Amortization Table:
<TABLE>
<CAPTION>
PSA WAL Periodic
RATE (YRS) Amortization
<S> <C> <C> <C>
__________________________________________
100 6.17 0.00%
150 4.66 1.40%
225 3.41 3.50%
325 3.41 3.50%
375 2.41 7.00%
475 1.85 14.50%
575 1.67 22.50%
</TABLE>
Clean Up Call: At 10% of initial balance outstanding
Expected Rating: "Aaa/AAA"
Swap Counterparty: West LB
Cusip: [ ]
This page must be accompanied by the disclaimer on the cover page of these
materials. If you did not receive such a disclaimer please contact your
Salomon Brothers Financial Advisor immediately.
3
<PAGE>
