STRATS(SM) Trust for Sprint Capital Corporation Securities, Series 2004-2 -- to Be Terminated -- CUSIP Number: 784788200 -- T...
August 23 2013 - 4:00PM
Marketwired
Pursuant to the terms of the Trust Agreement relating to the
STRATS(SM) Trust for Sprint Capital Corporation Securities, Series
2004-2 (the "Trust") (NYSE: GJD), dated as of September 26, 2003
(the "Base Trust Agreement"), between Synthetic Fixed-Income
Securities, Inc., as trustor (in such capacity, the "Trustor") and
U.S. Bank Trust National Association, as trustee (in such capacity,
the "Trustee"), and the Series Supplement, dated as of January 30,
2004 (the "Series Supplement" and, together with the Base Trust
Agreement, the "Trust Agreement"), between the Trustor and the
Trustee, the Trustor has determined that an SEC Reporting Failure
(as defined in the Trust Agreement) has occurred due to Sprint
Communications, Inc. (formerly Sprint Nextel Corporation), which is
the guarantor of the Underlying Securities held by the Trust,
having terminated its obligations to file periodic reports under
the Securities Exchange Act of 1934, as amended. The Trustor has
notified the Trustee that an SEC Reporting Failure has occurred.
Under the terms of the Trust Agreement, because an SEC Reporting
Failure has occurred, the Underlying Securities held by the Trust
are to be distributed in kind to the holders of the Certificates
based on the Allocation Ratio and the Trust is to terminate.
Under the terms of the Trust Agreement, due to the occurrence of
an SEC Reporting Failure, the Warrantholders may choose to exercise
all or a portion of the Call Warrants. If any Call Warrants are
exercised prior to the distribution in kind of the Underlying
Securities, holders of Certificates will receive cash proceeds of
such exercise to the extent available, pursuant to the terms of the
Trust Agreement. If all of the Call Warrants are not exercised, the
holders of Certificates will receive a distribution in kind of the
Underlying Securities (including the proceeds of any Underlying
Securities that have been sold to pay cash in lieu of fractional
Underlying Securities). It is expected that the final distribution
on the Certificates will be available within 30 days.
The transfer books for symbol GJD CUSIP #784788200 will be
closed permanently at the close of business on September 5, 2013.
Following the distribution in kind described above, the Trust will
terminate and any remaining securities issued by the Trust will be
canceled.
The Trustee has been directed by the Trustor to issue the
foregoing Press Release on behalf of the Trust. The Trustee is not
responsible for the statements made herein, which are solely
statements of the Trust.
SOURCE: Bondholder Relations at U.S. Bank Trust National
Association -- Contact 1-800-934-6802.
The CUSIP number listed above is for information purposes only.
Neither the Trustee nor the Trustor shall be responsible for the
selection or use of this CUSIP number, nor is any representation
made to its correctness on the securities or as indicated in any
exercise note.
Bondholder Relations U.S. Bank Trust National Association
1-800-934-6802
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