Structured Asset Trust Unit Repackagings (SATURNS) Series 2002-3 Trust Receipt of Notice of Intent to Exercise Call Options i...
January 28 2011 - 4:00PM
Business Wire
Structured Asset Trust Unit Repackagings (SATURNS), DPL Capital
Security Backed Series 2002-3 Trust (the “Trust”) (New York
Stock Exchange Ticker Symbol “MJT”), announced today that it has
received a notice of exercise notifying the Trust of the intended
exercise of 100% of the outstanding Call Options representing the
right to acquire 54,550 principal amount of the Bonds (which
represents 100% of the Bonds held by the Trust), at a price equal
to 100% of the principal amount of such Bonds plus accrued interest
for settlement on February 22, 2011 (the “Intended Settlement
Date”). Under the terms of the Call Options, the exercise of the
Call Options may be rescinded prior to the Intended Settlement
Date, in which case settlement of the relevant Call Options would
not occur and the Call Options would continue in effect and could
be exercised on a subsequent date. If settlement of the Call
Options occurs pursuant to the notice of exercise on the Intended
Settlement Date, then Class A Unitholders will receive the par
value plus accrued interest of each Class A Unit and Class B
Unitholders will receive accrued interest plus the present value of
the Class B Unit Interest in relation to each Class B Unit, each in
an amount to be determined in accordance with the Trust
Agreement.
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