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Synthetic Fixed-Income Sec STRATS 2004-02, 6.50% Sprint Capital Corp.
Ticker Symbol: GJD* CUSIP: 784788200 Exchange: NYSE
* NOTE: This security is no longer trading as of 9/05/2013
Security has been Called for: Thursday, September 5, 2013
STRATS Trust for Sprint Capital Corporation Securities, Series 2004-2 -- to Be Terminated -- CUSIP Number: 784788200 -- Ticker Symbol: GJD -- August 23, 2013 -- Pursuant to the terms of the Trust Agreement relating to the STRATS Trust for Sprint Capital Corporation Securities, Series 2004-2 (NYSE: GJD), dated as of September 26, 2003, between Synthetic Fixed-Income Securities, Inc., as trustor and U.S. Bank Trust National Association, as trustee, and the Series Supplement, dated as of January 30, 2004 and, together with the Base 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.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Synthetic Fixed-Income Securities Inc., 6.50% STRATS (Structured Repackaged Asset-Backed Trust Securities) Certificates, Series 2004-2, Class A-1 Certificates, STRATS Trust for Sprint Capital Corp. Securities, price to the public $25 per certificate. The underlying securities are the 6.875% Notes due 11/15/2028 issued by Sprint Capital Corp., a subsidiary of Sprint Corp. (NYSE: FON). The certificates pay 6.50% ($1.625) per annum distributions semiannually on 5/15 & 11/15 to holders of record on the business day immediately preceding the payment date. Certificates are callable at the option of the call warrant holder on or after 1/30/2009 at $25 per certificate plus accrued and unpaid interest. Certificate ratings at the IPO were BBB- by S&P and Baa3 by Moody's. Synthetic Fixed-Income Securities, Inc. is a wholly-owned subsidiary of Wachovia Corporation. For further information on the STRATS Trust Certificates, see the IPO Prospectus by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (S*)
IPO - 1/30/2004 - 1.52 Million Certificates @ $25.00/cert.
Link to IPO Prospectus
Market Value $38.0 Million
Company's Online Information Links
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HOME PAGE:
http://www.wellsfargo.com/
(This parent company URL is for reference only and does not have specific information on the security.)
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Company's Online SEC EDGAR Filings |
Address and Phone Numbers |
Address: Wells Fargo Securities, 375 Park Avenue, New York, NY 10152 |
Main Phone Number |
212-214-6277 |
Fax Number |
Not Available |
Investor Contact (President)
William Threadgill
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212-214-6277
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