Notice of CONDITIONAL FULL Redemption Corporate Backed Trust Certificates, Boeing Securities-Backed Series 2003-16 Trust 1,00...
17 Dezember 2013 - 10:00PM
Marketwired
Notice of CONDITIONAL FULL Redemption Corporate Backed Trust
Certificates, Boeing Securities-Backed Series 2003-16 Trust
1,000,000 $25 Par ($25,000,000 Certificate Principal Amount) Class
A-1 Certificates due February 15, 2038 CUSIP No. 21988K305* (NYSE:
JZL)
$7,725,000 Notional Amount Class A-2 Certificates Due February
15, 2038 CUSIP No. 21988KAB3* $353,000 Principal Amount Class A-3
Certificates Due February 15, 2038 CUSIP No. 21988KAD9* (Relating
to 1,000,000 Class A-1 Call Warrants CUSIP No. 21988K156*, 100
Class A-2 Call Warrants CUSIP No. 21988K164* and 4 Class A-3 Call
Warrants CUSIP No. 21988K198*) (Underlying Securities are
$17,628,000 principal amount 6.125% Notes due February 15, 2033
CUSIP No. 097023AU9* and $7,725,000 principal amount 6.625%
Debentures due February 15, 2038 CUSIP No. 097023AS4* issued by The
Boeing Company)
NEW YORK, NY--(Marketwired - Dec 17, 2013) - NOTICE IS HEREBY
GIVEN, pursuant to the terms of the Standard Terms for Trust
Agreements dated as of January 16, 2001, between Lehman ABS
Corporation, as Depositor, and U.S. Bank Trust National
Association, as Trustee, as supplemented by the Series Supplement,
Boeing Securities-Backed Series 2003-16, dated as of October 28,
2003 (the "Trust Agreement") in respect of the Corporate Backed
Trust Certificates, Boeing Securities-Backed Series 2003-16 Trust
(the "Trust"), that certain Call Warrant Holders have exercised
their rights to purchase all of the 1,000,000 outstanding
($25,000,000 principal amount) Class A-1 Certificates (the "Class
A-1 Certificates")(NYSE: JZL), $7,725,000 Notional Amount
outstanding Class A-2 Certificates (the "Class A-2 Certificates")
and $353,000 Principal Amount outstanding Class A-3 Certificates
(the "Class A-3 Certificates") (together, the "Certificates") on
December 20, 2013 (the "Call Date" and "Redemption Date") each at
the related Call Price, and effect an Optional Exchange for the
$25,353,000 total principal amount Underlying Securities held by
the Trust.
THE EXERCISE OF THE CALL WARRANTS IS CONDITIONAL UPON RECEIPT BY
THE TRUSTEE OF THE CALL PRICE WITH RESPECT TO SUCH EXERCISE ON THE
REDEMPTION DATE. THERE CAN BE NO ASSURANCE THAT THE CALL WARRANTS
WILL IN FACT BE EXERCISED ON THE REDEMPTION DATE.
If the Trustee receives the Call Price by 10:00 a.m. (New York
City time) on the Redemption Date, then 1,000,000 Class A-1
Certificates, $7,725,000 Notional Amount Class A-2 Certificates and
$353,000 Principal Amount Class A-3 Certificates described above
will be selected for redemption on the Redemption Date at a price
of $25.00 principal plus $0.54253472 accrued interest to the
Redemption Date per Class A-1 Certificate, $$41.96953139 interest
per $1,000 stated notional amount Class A-2 Certificate and $0.00
principal per $1,000 stated principal amount Class A-3 Certificate
(the "Call Price"). The total payment of the Redemption Amount on
the Certificates will be $25,866,749.35, consisting of
$25,000,000.00 principal and $542,534.72 accrued interest on the
Class A-1 Certificates, $324,214.63 interest on the Class A-2
Certificates and $0.00 principal on the Class A-2 Certificates (the
"Redemption Amount"). The Class A-2 Certificates are interest-only
Certificates and will not receive payment of principal. The Class
A-3 Certificates are principal-only Certificates and will not
receive payment of interest. As set forth in the Trust Agreement,
the Call Price for each related Call Date, in the case of the Class
A-3 Certificates, is $0. No further interest or principal will
accrue on and after the Redemption Date on the Certificates
selected for redemption.
If the Trustee does not receive the Call Price, then (i) the
Certificates selected for redemption will continue to accrue
interest as if no exercise notice had been given and (ii) these and
other Warrant Holders may elect to deliver a conditional notice of
exercise in the future.
This press release is being issued by U.S. Bank Trust National
Association as trustee of the Trust. For more information about
this conditional partial redemption, Holders with questions may
contact Bondholder Services at (800) 934-6802.
By U.S. Bank Trust National Association as Trustee
December 17, 2013
*U.S. Bank shall not be held responsible for the selection or
the use of the CUSIP number, nor is any representation made as to
its correctness indicated in the Redemption Notice. It is included
solely for the convenience of the Holders.
U.S. Bank National Association Corporate Trust Services 100 Wall
Street, 16th floor New York, NY 10005 (800) 934-6802
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