Notice of Conditional Partial Redemption of Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Se...
22 12월 2012 - 6:00AM
Marketwired
NOTICE IS HEREBY GIVEN, pursuant to the terms
of the Standard Terms for Trust Agreements dated as of January 16,
2001, between Lehman ABS Corporation, as Depositor, and U.S. Bank
Trust National Association, as Trustee, as supplemented by the
Series Supplement, Goldman Sachs Capital I Securities-Backed Series
2004-7, dated as of April 30, 2004 (the "Trust Agreement") in
respect of the Corporate Backed Trust Certificates, Goldman Sachs
Capital I Securities-Backed Series 2004-7 Trust (the "Trust"), that
certain
Call Warrant Holders have exercised their
rights to purchase 315,000 of the 1,200,000 total outstanding Class
A-1 Corporate Backed Trust Certificates (the "Class A-1
Certificates") (NYSE: JBO)
and $43,000.00
Initial ($38,271.00 Current) Amortizing Notional Balance of the
total outstanding $162,000.00 Initial ( $144,185.00 Current)
Amortizing Notional Balance Class A-2 Corporate Backed Trust
Certificates (the "Class A-2 Certificates") (together, the
"Certificates") on December 31, 2012 (the
"Call Date" and "Redemption Date") each at the related Call Price,
and effect an Optional Exchange for $7,875,000.00 face amount of
the total $30,000,000.00 face amount Goldman Sachs Capital I 6.345%
Capital Securities due February 15, 2034 CUSIP 38143VAA7* held as
the Underlying Securities by the Trust.
THE EXERCISE OF THE CALL WARRANTS IS
CONDITIONAL UPON RECEIPT BY THE TRUSTEE OF THE CALL PRICE WITH
RESPECT TO SUCH EXERCISE ON THE REDEMPTION DATE. THERE CAN BE NO
ASSURANCE THAT THE CALL WARRANTS WILL IN FACT BE EXERCISED ON THE
REDEMPTION DATE.
If the Trustee receives the Call Price by 10:00 a.m. (New York
City time) on the Redemption Date, then 315,000 Class A-1
Certificates and $43,000 Initial ($38,271.00 Current) Amortizing
Notional Balance Class A-2 Certificates described above will be
selected for redemption on the Redemption Date at a price of $25.00
principal plus $0.59500000 accrued interest to the Redemption Date
per Class A-1 Certificate and $914.90441860 interest per $1,000
stated Initial Amortizing Notional Balance Class A-2 Certificate
(the "Call Price"). The total payment of the Redemption Amount on
the Certificates will be $8,101,765.89, consisting of $7,875,000.00
principal and $187,425.00 accrued interest on the Class A-1
Certificates and $39,340.89 interest on the $43,000 Initial
($38,271.00 Current) Amortizing Notional Balance Class A-2
Certificates (the "Redemption Amount") selected for redemption. The
Class A-2 Certificates are interest-only Certificates and will not
receive payment of interest. No further interest or principal will
accrue after the Redemption Date on the Certificates selected for
redemption. If the Trustee does not receive the Call Price, then
(i) the Certificates issued by the Trust will continue to accrue
interest as if no exercise notice had been given and (ii) the call
warrant holder may elect to deliver a conditional notice of
exercise in the future.
This press release is being issued by U.S. Bank Trust National
Association as trustee of the Trust. For more information about
this conditional partial redemption, Holders with questions may
contact Bondholder Services at (800) 934-6802.
U.S. Bank Trust National Association, as
Trustee
*U.S. Bank shall not be held responsible for the selection or
the use of the CUSIP number, nor is any representation made as to
its correctness indicated in the Notice. It is included solely for
the convenience of the Holders.
Bondholder Services (800) 934-6802
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