Notice of CONDITIONAL FULL Redemption Corporate Backed Trust Certificates, American General Institutional Capital A Capital S...
05 Mai 2014 - 10:00PM
Marketwired
Notice of CONDITIONAL FULL Redemption Corporate Backed Trust
Certificates, American General Institutional Capital A Capital
Securities-Backed Series 2002-17 Trust 2,959,640 $25 Par
($73,991,000 Certificate Principal Amount) Class A-1 Certificates
Due December 1, 2045 CUSIP No. 21988G353* (NYSE: XFP) $73,991,000
Notional Amount Class A-2 Certificates Due December 1, 2045 CUSIP
No. 21988GCA2*
(Relating to 2,959,640 Class A-1 Call Warrants and 739.91 Class
A-2 Call Warrants Without CUSIP) (Underlying Securities Are
$73,991,000 Principal Amount AIG Life Holdings Inc. 7.57% Due
December 1, 2045 CUSIP 00138GAB5* - Formerly American General
Institutional Capital A 7.57% Capital Securities Due December 1,
2045 CUSIP 02637VAA6*)
NEW YORK, NY--(Marketwired - May 5, 2014) - 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,
American General Institutional Capital A Capital Securities-Backed
Series 2002-17, dated as of October 23, 2002 as amended (the "Trust
Agreement") in respect of the Corporate Backed Trust Certificates,
American General Institutional Capital A Capital Securities-Backed
Series 2002-17 Trust (the "Trust"), that certain Call Warrant
Holders have exercised their rights to purchase all of the
2,959,640 outstanding ($73,991,000 principal amount) Class A-1
Certificates (the "Class A-1 Certificates") (NYSE: XFP) and
$73,991,000 Notional Amount outstanding Class A-2 Certificates (the
"Class A-2 Certificates") (together, the "Certificates") on May 9,
2014 (the "Call Date" and "Redemption Date") each at the related
Call Price, and effect an Optional Exchange for the $73,991,000
total principal amount Underlying Securities held 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 2,959,640 Class A-1
Certificates and $73,991,000 Notional Amount Class A-2 Certificates
described above will be selected for redemption on the Redemption
Date at a price of $25.00 principal plus $0.67204861 accrued
interest to the Redemption Date per Class A-1 Certificate and
$180.13113717 interest per $1,000 stated notional amount Class A-2
Certificate (the "Call Price"). The total payment of the
Redemption Amount on the Certificates will be $89,308,104.92,
consisting of $73,991,000.00 principal and $1,989,021.95 accrued
interest on the Class A-1 Certificates and $13,328,082.97 interest
on the Class A-2 Certificates (the "Redemption Amount"). The
Class A-2 Certificates are interest-only Certificates and will not
receive payment of principal. No further interest or principal
will accrue on and 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
holders 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 National Association Global Corporate Trust Services
100 Wall Street, 16th floor New York, NY 10005 (800) 934-6802
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