Strats Trust Wal Mart Stores Inc. STRT CTF 05-4
GJO
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- Strats Trust Wal Mart Stores Inc. STRT CTF 05-4 (NYSE: GJO) issues synthetic fixed-income securities linked to the performance of Wal-Mart Stores Inc. (now Walmart Inc.) securities. The trust offers 4.65% floating rate STRATS certificates, Series 2005-4, which provide investors with periodic distributions based on interest payments received from underlying Wal-Mart notes, swap agreements with counterparties, and related collateral; these securities are structured to deliver fixed-to-floating rate returns tied to Wal-Mart's credit performance through maturity on February 15, 2030. As a special purpose vehicle, it holds Wal-Mart-issued debt or equivalent synthetic exposures, focusing on asset-backed or structured finance products without traditional operational activities such as manufacturing or retail services. Formed in 2005 pursuant to a base trust agreement dated September 26, 2003, between Synthetic Fixed-Income Securities, Inc. as depositor and U.S. Bank Trust National Association as trustee, supplemented by the Series 2005-4 agreement effective October 17, 2005, the trust is headquartered in Charlotte, North Carolina. It operates solely in the United States financial markets, targeting institutional and retail investors seeking exposure to Walmart-linked fixed-income yields through exchange-traded certificates. Recent distributions include quarterly interest payments, with ex-dividend dates in 2025 such as July 14 ($0.10584 per share), May 14 ($0.10454 per share), and ongoing monthly or quarterly payouts totaling an annual yield of approximately 5.08% to 5.45% based on a $25 par value; no major acquisitions, partnerships, funding rounds, new issuances, or strategic shifts have been reported in the last 1-2 years. The trust made a distribution of $53,128.01 from swap counterparty interest in a recent filing, reflecting stable operational continuity without reorganizations or expansions. Trading volumes remain low at around 600-2,000 shares daily, with share prices stable between $24.00 and $25.37 over the past 52 weeks.