Conditional Partial Redemption of Corporate Backed Trust Certificates, Motorola Debenture-Backed Series 2002-12 Trust 1,267,4...
August 02 2011 - 7:38PM
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,
Motorola Debenture-Backed Series 2002-12, dated as of June 21, 2002
(the "Trust Agreement") in respect of the Corporate Backed Trust
Certificates, Motorola Debenture-Backed Series 2002-12 Trust (NYSE:
XFH) (the "Trust") that certain
Call Warrant
Holders have exercised their rights to purchase 509,269 of the
1,267,466 total outstanding Class A-1 and $0.00 of the total
outstanding notional amount Class A-2 Corporate Backed Trust
Certificates (the "Certificates") on August 9, 2011 (the "Call
Date" and "Redemption Date") at the Call Price and effect an
Optional Exchange for the Underlying Securities.
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 the certificates issued by
the Trust (the "Certificates") will be redeemed on the Redemption
Date at a price of $25 principal plus $0.728889 accrued interest to
the Redemption Date per Class A-1 Certificate and $0.00 principal
per $1,000 stated principal amount Class A-2 Certificate. The Class
A-2 Certificates are principal-only Certificates and will not
receive payment of interest. No interest will accrue on the
Certificates after the Redemption Date. 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 redemption, Holders with questions may contact
Bondholder Services at (800) 934-6802.
U.S. Bank Trust National Association
Contact: Bondholder Services (800) 934-6802
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