Notice of CONDITIONAL FULL Redemption of Corporate Backed Trust Certificates, Bristol-Myers Squibb Debenture-Backed Series 20...
13 Novembre 2013 - 10:00PM
Marketwired
Notice of CONDITIONAL FULL Redemption of Corporate Backed Trust
Certificates, Bristol-Myers Squibb Debenture-Backed Series 2002-18
Trust 1,007,200 $25 Par ($25,180,000 Certificate Principal Amount)
Class A-1 Certificates due August 1, 2097 CUSIP No. 21988G346*
(NYSE: XFR) $25,180,000 Notional Amount Class A-2A Certificates Due
August 1, 2042 CUSIP No. 21988GCB0* $25,180,000 Notional Amount
Class A-2B Certificates Due August 1, 2097 CUSIP No. 21988GCC8*
(Relating to 1,007,200 Class A-1, 251.80 Class A-2A and 251.80
Class A-2B Call Warrants without CUSIP) (Underlying Securities are
$25,180,000 principal amount 6.875% Notes due August 1, 2097 CUSIP
No. 110122AC2* issued by Bristol-Myers Squibb Company)
NEW YORK, NY--(Marketwired - Nov 13, 2013) - 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,
in respect to the Trust, dated as of October 29, 2002 (the "Series
Supplement" and together with the Standard Terms, the "Trust
Agreement") that certain Warrant Holder(s) have exercised their
rights to purchase all of the 1,007,200 outstanding ($25,180,000
principal amount) Class A-1 Certificates (the "Class A-1
Certificates") (NYSE: XFR), $25,180,000 Notional Amount outstanding
Class A-2A Certificates (the "Class A-2A Certificates") and
$25,180,000 Notional Amount outstanding Class A-2B Certificates
(the "Class A-2B Certificates") (together, the "Certificates") on
November 19, 2013 (the "Call Date" and "Redemption Date") each at
the related Call Price, and effect an Optional Exchange for the
$25,180,000 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 1,007,200 Class A-1
Certificates, $25,180,000 Notional Amount Class A-2A Certificates
and $25,180,000 Notional Amount Class A-2B Certificates described
above will be selected for redemption on the Redemption Date at a
price of $25.00 principal plus $0.468750000 accrued interest to the
Redemption Date per Class A-1 Certificate, $70.959662431 interest
per $1,000 stated Notional Amount Class A-2A Certificate, and
$7.724926529 interest per $1,000 stated Notional Amount Class A-2B
Certificate (the "Call Price"). The total payment of the
Redemption Amount on the Certificates will be $27,633,402.95,
consisting of $25,180,000.00 principal and $472,125.00 accrued
interest on the Class A-1 Certificates, $1,786,764.30 interest on
the $25,180,000 Notional Amount Class A-2A Certificates and
$194,513.65 interest on the $25,180,000 Notional Amount Class A-2B
Certificates (the "Redemption Amount") selected for
redemption. The Class A-2A and Class A-2B 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 selected for redemption will continue to accrue
interest as if no exercise notice had been given and (ii) these and
other 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.
By 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 Redemption Notice. It is
included solely for the convenience of the Holders.
U.S. Bank (800) 934-6802
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