Structured Asset Trust Unit Repackagings (SATURNS) Series 2005-3 Trust Receipt of Notice of Intent to Exercise Warrants in Full
May 28 2014 - 4:00PM
Business Wire
Structured Asset Trust Unit Repackagings (SATURNS), Limited
Brands Inc. Debenture Backed Series 2005-3 Trust (the “Trust”) (New
York Stock Exchange Ticker Symbol “HJR”), announced today that it
has received a Call Notice notifying the Trust of the intended
exercise of 100% of the remaining outstanding Warrants representing
the right to acquire a combined Unit Principal Balance of
25,000,000 Units for settlement on June 12, 2014 (the “Intended
Settlement Date”). Under the terms of the Warrants, delivery of the
notice does not give rise to an obligation on the part of the
Warrantholder to pay the specified call price; and if by 4 p.m. New
York time on the Business Day prior to the Intended Settlement Date
the party exercising the Warrants has not paid the required call
price, the Call Notice will be effectively rescinded, in which case
settlement of the relevant Warrants would not occur and the
Warrants would continue in effect and could be exercised on a
subsequent date. If settlement of the Warrants occurs pursuant to
the Call Notice on the Intended Settlement Date, then Unitholders
will receive the par value plus accrued interest of each Unit, in
an amount to be determined in accordance with the Trust
Agreement.
CUSIP: 80410Q207Symbol: HJR
Thais Hayum – Vice PresidentU.S. Bank - Corporate Trust
ServicesP: +1-312-332-7489F: +1-312-332-7992E:
thais.hayum@usbank.com
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