Notice of CONDITIONAL PARTIAL Redemption of Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Se...
May 06 2013 - 4:00PM
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
2004-4, 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"),
dated as of February 25, 2004, as amended (the "Trust Agreement")
in respect of the Corporate Backed Trust Certificates, Goldman
Sachs Capital I Securities-Backed Series 2004-4 Trust (the
"Trust"), that certain
Call Warrant Holders have
exercised their rights to purchase 400,000 of the 4,200,000 total
outstanding Class A-1 Corporate Backed Trust Certificates (the
"Class A-1 Certificates") (NYSE: JZC)
and
$430,125.00 Initial ($376,677.80 Current) Amortizing Notional
Balance of the total outstanding $4,516,000.00 Initial
($3,954,843.15 Current) Amortizing Notional Balance Class A-2
Corporate Backed Trust Certificates (the "Class A-2 Certificates")
(together, the "Certificates") on May 9, 2013
(the "Call Date" and "Redemption Date") each at the related Call
Price, and effect an Optional Exchange for $10,000,000.00 face
amount of the total $105,000,000.00 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 400,000 Class A-1
Certificates and $430,125.00 Initial ($376,677.79 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 $0.35000000 accrued interest to the
Redemption Date per Class A-1 Certificate and $890.04403371
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 $10,421,408.36,
consisting of $10,000,000.00 principal and $140,000.00 accrued
interest on the Class A-1 Certificates and $382,830.19 interest on
the $430,125.00 Initial ($376,677.79 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 principal. 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.
U.S. Bank (800) 934-6802
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