Structured Asset Trust Unit Repackagings (SATURNS) Series 2002-15 Trust Receipt of Notice of Intent to Exercise Call Options ...
April 26 2011 - 4:38PM
Business Wire
Structured Asset Trust Unit Repackagings (SATURNS), Goodrich
Corp. Debenture-Backed Series 2002-15 (the “Trust”) (New York Stock
Exchange Ticker Symbol “DKF”), announced today that it has received
a notice of intent to exercise 28,700 Call Options representing the
right to call $28,700,000 aggregate principal amount of the 7.00%
Debentures of Goodrich Corporation (the “Debentures”) held by the
Trust, on May 17, 2011 (the “Intended Settlement Date”). The Call
Options with respect to which the notice of intended exercise has
been received represent 100% of the outstanding Debentures held by
the Trust. Under the terms of the Call Options, the party
exercising the Call Options may rescind its notice of exercise at
any time prior to the Intended Settlement Date by providing notice
of rescission to the Trust, in which case settlement of such Call
Options would not occur and the Call Options would continue in
effect and could be exercised on a subsequent date. If the notice
of exercise is not rescinded and settlement of the Call Options
actually occurs on the Intended Settlement Date, the Trust
Agreement provides that all outstanding Units will be redeemed at
par ($25.00) plus accrued interest from the available proceeds of
the settlement of the Call Options.
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