Structured Asset Trust Unit Repackagings (SATURNS) Series 2004-6 Trust Receipt of Notice of Intent to Exercise Warrants in Part
May 08 2013 - 4:29PM
Business Wire
Structured Asset Trust Unit Repackagings (SATURNS), Goldman
Sachs Capital I Capital Security Backed Series 2004-6 Trust (the
“Trust”) (New York Stock Exchange Ticker Symbol “HJL”), announced
today that it has received Call Notices notifying the Trust of the
intended exercise of 50% of the outstanding Warrants representing
the right to acquire a combined Unit Principal Balance of
40,000,000 Class A Units and the equivalent Notional Amount of
Class B Units for settlement on May 23, 2013 (the “Intended
Settlement Date”). Under the terms of the Warrants, delivery of the
notice does not give rise to an obligation on the part of the
Warrantholder to pay the specified call price; and if by 4 p.m. New
York time on the Business Day prior to the Intended Settlement Date
the party exercising the Warrants has not paid the required call
price, the related Call Notice will be effectively rescinded, in
which case settlement of the relevant Warrants would not occur and
the Warrants would continue in effect and could be exercised on a
subsequent date. The exercising Warrantholders also hold Class B
Units and have elected, as permitted under the Trust Agreement and
the Warrants, that their Class B Units be called before any others.
If settlement of the Warrants occurs pursuant to the Call Notices
on the Intended Settlement Date, the trust agreement provides that
Class A Unitholders will be randomly selected for redemption at the
par value plus accrued interest of each Class A Unit and that,
after the Class B Units held by the exercising Warrant holders,
Class B Unitholders will be randomly selected for redemption at
accrued interest plus the Class B Present Value Amount in relation
to each Class B Unit, each in an amount to be determined in
accordance with the Trust Agreement.
CUSIP: 804111201 (A Units) 804111AA0 (B Units) Symbol: HJL
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