UNITED STATES

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): ~~July~~September 1530, 2009

Structured Products Corp.

on behalf of

CAST Step-Up Trust III for General Electric Capital Corporation Notes

(Exact name of registrant as specified in its charter)

Delaware	001-31764	13-3692801
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS Employer Identification Number)

388 Greenwich Street New York, New York	10013	(212) 816-7496
(Address of principal executive offices)	(Zip Code)	(Registrant's telephone number including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13e-4(c))

Section 8 - Other Events

Item 8.01 Other Events.

~~This~~Structured ~~current~~Products ~~report~~Corp., onthe ~~Form~~registrant 8hereunder, acts as depositor of the CAST Step-KUp ~~relates~~Trust toIII afor ~~distribution~~General ~~made~~Electric toCapital ~~holders~~Corporation Notes, CAST Supplement 2003-7 (the "Trust"), which holds $15,000,000 principal amount of 5.45% Notes (the ~~Certificates~~"Term Assets") due January 15, 2013 CUSIP No. 36962GZY3 issued by General Electric Capital Corporation. Pursuant to the ~~CAST~~trust agreement governing the Trust, the Trust has issued $15,000,000 principal amount of Semiannual- Pay Step-Up Class A Certificates (the "Class A Certificates") and $15,000,000 Notional Amount of Class B Certificates (the "Class B Certificates"). Pursuant to the trust agreement governing the Trust ~~III~~and ~~for~~the ~~General~~Warrant ~~Electric~~Agent ~~Capital~~Agreement, ~~Corporation~~the ~~Notes~~Trust has issued 15,000 Call Warrants (the "Call Warrants"). U.S. Bank National Association, in its capacity as Warrant Agent, has received a notice from the holder of the Call Warrants of its intent to exercise 15,000 Call Warrants to purchase the Term Assets in full on October 1, 2009. The exercise of the Call Warrants is conditional upon receipt by the Trustee of the Warrant Exercise Purchase Price with respect to such exercise on the Exercise Date. As a result, if the Trustee receives the Warrant Exercise Purchase Price, the Class A Certificates will be redeemed in full on October 1, 2009 (the "Redemption Date") at a price of $1,000 per Class A Certificate plus $11.083333 accrued interest to the Redemption Date per Class A Certificate, and the Class B Certificates will be redeemed in full on the Redemption Date after payment of the Warrant Class B Purchase Price of $5.972857 per Class B Certificate plus $0.422222 accrued interest to the Redemption Date per Class B Certificate. Any capitalized terms used herein and not otherwise defined herein have the definition given to them in the documents pursuant to which the Trust is governed.

The issuer of the underlying securities, or guarantor thereof, or successor thereto, as applicable, is subject to the information reporting requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Periodic reports and other information required to be filed pursuant to the Exchange Act, by the issuer of the underlying securities, or guarantor thereof, or successor thereto, as applicable, may be inspected and copied at the public reference facilities maintained by the Securities and Exchange Commission (the "Commission") at 450 Fifth Street, N.W., Washington, D.C. 20549. The Commission also maintains a site on the World Wide Web at "http://www.sec.gov" at which users can view and download copies of reports, proxy and information statements and other information filed electronically through the Electronic Data Gathering, Analysis and 2 Retrieval system. Neither Structured Products Corp. nor the trustee has participated in the preparation of such reporting documents, or made any due diligence investigation with respect to the information provided therein. Neither Structured Products Corp. nor the trustee has verified the accuracy or completeness of such documents or reports. There can be no assurance that events affecting the issuer of the underlying securities, or guarantor thereof, or successor thereto, as applicable, or the underlying securities have not occurred or have not yet been publicly disclosed which would affect the accuracy or completeness of the publicly available documents described above.

Underlying Securities Issuer(s) or Guarantor, or successor thereto	Exchange Act File Number
General Electric Capital Corporation	001-06461

SIGNATURES

~~Section~~Pursuant 9to -the ~~Financial~~requirements ~~Statements~~of ~~and~~the ~~Exhibits~~Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

~~Item~~By: /s/ Stanley ~~9.01 Financial Statements and Exhibits.~~Louie

(c)	Exhibits:
	1.	Trustee’s Report with respect to the July 15, 2009 Distribution Date for the CAST Step-Up Trust III for General Electric Capital Corporation Notes

________________________________

2Name: Stanley Louie

~~SIGNATURES~~Title: Authorized Signatory

~~Pursuant~~September ~~to the requirements of the Securities Exchange Act of 1934~~30, ~~the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.~~2009

~~By: /s/ Stanley Louie~~ 3

_______________________________

Name: Stanley Louie

Title: Authorized Signatory

July 15, 2009

EXHIBIT INDEX

Exhibit		Page
1	Trustee’s Report with respect to the July 15, 2009 Distribution Date for the CAST Step-Up Trust III for General Electric Capital Corporation Notes	5

Exhibit 1

To the Holders of: CAST Step-Up Trust III for General Electric Capital Corporation Notes Semiannual-Pay Step-Up Class A Certificates *CUSIP: 14835U AA3 Class B Certificates *CUSIP: 14835U AB1

U.S. Bank Trust National Association, as Trustee for the CAST Step-Up Trust III for General Electric Capital Corporation Notes (the “Trust”), hereby gives notice with respect to the Distribution Date of July 15, 2009 (the “Distribution Date”) as follows:

1. The amount of the distribution payable to the Certificateholders on the Distribution Date allocable to principal and premium, if any, and interest, expressed as a dollar amount per $1,000 Class A Certificate and per $1,000 Notional Amount of Class B Certificates, is as set forth below:

Class	Principal	Interest	Total Distribution
A	$ 0.000000	$ 26.250000	$ 26.250000
B	$ 0.000000	$ 1.000000	$ 1.000000

2. The amount of aggregate interest due and not paid as of the Distribution Date is $0.000000.

3. The Class A Certificates bear interest at the rate of 5.25% and the Class B Certificates bear interest at a rate of 0.20% during the period ending on the Distribution Date .

4. No fees have been paid to the Trustee or any other party from the proceeds of the Term Assets.

5. $15,000,000 aggregate principal amount of General Electric Capital Corporation 5.45% Global Medium-Term Notes, Series A due January 15, 2013 (the “Term Assets”) are held for the above trust.

6. At the close of business on the Distribution Date, 15,000 Class A Certificates representing $15,000,000 aggregate Certificate Principal Balance and $15,000,000 aggregate Notional Amount of Class B Certificates were outstanding.

7. The current rating of the Term Assets is not provided in this report. Ratings can be obtained from Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., by calling 212-438-2400 and from Moody’s Investors Service, Inc. by calling 212-553-0377.

U.S. Bank Trust National Association, as Trustee

*The Trustee shall not be held responsible for the selection or use of the CUSIP number nor is any representation made as to its correctness. It is included for the convenience of the Holders.

Filing Compare · CASTSM STEP-UP TRUST III