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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): June 23, 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)
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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.
On June 23, 1997 the registrant made available to prospective
investors a series term sheet setting forth a description of
the collateral and the proposed structure of $25,000,000
aggregate principal amount of TIERS Corporate Bond-Backed
Certificates, Series BLS 1997-6 ZTF Class Certificates issued
by TIERS Corporate Bond-Backed Certificates Trust BLS 1997-6.
The series term sheet is attached hereto as Exhibit 99.
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.
Exhibit No. Description
Exhibit 99 Series Term Sheet dated June 23, 1997,
with respect to the proposed issuance of the
TIERS Corporate Bond-Backed Certificates,
Series BLS 1997-6 issued by TIERS Corporate
Bond-Backed Certificates Trust BLS 1997-6
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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 hereunto duly authorized.
STRUCTURED PRODUCTS CORP.
Date: June 23, 1997 By:/s/ Timothy P. Beaulac
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Timothy P. Beaulac
Vice President and Finance Officer
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EXHIBIT INDEX
Exhibit Description Page
Exhibit 99 Series Term Sheet dated June 23, 1997, with respect to 5
the proposed issuance of the TIERS Corporate Bond-Backed
Certificates, Series BLS 1997-6 by TIERS Corporate Bond-
Backed Certificates Trust BLS 1997-6
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EXHIBIT 99
SUBJECT TO REVISION
SERIES TERM SHEET DATED JUNE 23, 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 description. 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
actually 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. More information may be obtained by contacting the Salomon Brothers
Structured Products at (212) 783-2906.
TIERS(sm) CORPORATE BOND-BACKED CERTIFICATES,
SERIES BLS 1997-6
$25,000,000 ZTF(R) Class Certificates (the "ZTF Class Certificates")
Structured Products Corp.,
depositor (the "Depositor")
June 23, 1997
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TIERS(sm) CORPORATE BOND-BACKED TRUST CERTIFICATES,
SERIES BLS 1997-6
$25,000,000 ZTF Class Certificates (the "ZTF Class Certificates")
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Name of Issuer: TIERS(sm) Corporate Bond-Backed Certificates Trust BLS 1997-6
Name of Security: TIERS(sm) Corporate Bond-Backed Certificates, Series BLS 1997-6
Underlying Term Asset: $25,000,000 BellSouth Telecommunications, Inc. Forty Year 7.50%
Debentures, Due June 15, 2033
Terms of Underlying
Term Asset: Coupon Frequency: Semiannual
Coupon Daycount: 30/360
Call Schedule: 104.75 on 6/15/03; call price is reduced
thereafter on a "straight line" basis down to par
in 20 years.
Expected Settlement Date: July 7, 1997
Trust Maturity Date: June 15, 2003
Expected Principal Amount: USD 25,000,000
Coupon Rate: Settlement - 6/15/2003: 0.00%
12/15/2003 - 12/15/2026: 7.50% (effective rate: mandatorily
exchangeable for underlying term assets as described below)
Trust Maturity: 6/15/2003. If underlying term assets are not called on 6/15/2003,
Certificates are mandatorily exchangeable for the underlying assets which
mature 6/15/2033. If underlying assets are called on 6/15/2003 in whole
or in part, Certificateholders will to the same extent be paid 104.75% of
par in lieu of receiving in-kind distribution. Determination of who
receives cash vs. in-kind distribution in event of partial call of underlying
term assets will be made by lot.
Selling Concession: $15.00 per $1,000 par
Expected Pricing: 7.415% Yield to First Call
8.05% Yield to Maturity
Expected Rating: "Aaa/AAA"
Cusip: [ ]
Deal Type: Public
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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.
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