Structured Asset Trust Unit Repackagings (SATURNS) Series 2003-6 Trust Receipt of Notice of Intent to Exercise Call Options i...
October 15 2010 - 4:05PM
Business Wire
Structured Asset Trust Unit Repackagings (SATURNS), Goldman
Sachs Group Debenture Backed Series 2003-6 (the “Trust”) (New York
Stock Exchange Ticker Symbol “DKP”), announced today that it has
received a notice of intent to exercise 55,000 Call Options
representing the right to call $55,000,000 aggregate principal
amount of the 6.125% Debentures of Goldman Sachs Group, Inc. (the
“Bonds”) held by the Trust, on November 1, 2010 (the “Intended
Settlement Date”). The Call Options with respect to which the
notice of intended exercise has been received represent 68.75% of
the outstanding Bonds 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 If the notice of exercise is not rescinded and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 Units will be
randomly selected for redemption at par ($25) plus accrued interest
from the available proceeds of the settlement of the Call
Options.
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