U.S. Bank Trust National Association Announces Conditional Redemption of Corporate Backed Trust Certificates Series 2001-26 Tru
June 16 2006 - 5:55PM
PR Newswire (US)
NEW YORK, June 16 /PRNewswire-FirstCall/ -- U.S. Bank Trust
National Association, as Trustee, under the Standard Terms for
Trust Agreements dated as of January 16, 2001, as supplemented by
the Series Supplement dated as of June 21, 2001, as amended (the
"Trust Agreement") in respect of the Corporate Backed Trust
Certificates, Series 2001-26 Trust (the "Trust") with Lehman ABS
Corporation, as depositor, received notice that the call warrant
holder has exercised its right to purchase the assets of the Trust
on June 21, 2006 (the "Redemption Date"). THE EXERCISE OF THE CALL
WARRANTS IS CONDITIONAL UPON RECEIPT BY THE TRUSTEE OF THE WARRANT
EXERCISE 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 in full on the Redemption Date at
a price of $25 principal plus $0.508333332 accrued interest per
Class A-1 Certificate and $141.82228956 principal per $1,000
notional amount Class A-2 Certificate (the "Call Price"). 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,
please contact David J. Kolibachuk of U.S. Bank Trust National
Association at 212-361-2459. DATASOURCE: U.S. Bank Trust National
Association CONTACT: David J. Kolibachuk of U.S. Bank Trust
National Association, +1- 212-361-2459
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