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Lehman ABS Corp Bkd Trust Certs 2003-18, 7.125% Variable AT&T Corp.
Ticker Symbol: JZJ     CUSIP: 21988K503     Exchange: NYSE
Security Type:   Third Party Trust Preferred

Security has been Partially Called for:  Friday, March 14, 2014

March 11, 2014 -- Notice of CONDITIONAL PARTIAL Redemption Corporate Backed Trust Certificates, AT&T Note-Backed Series 2003-18 Trust 960,000 $25 Par ($24,000,000 Certificate Principal Amount) Class A-1 Certificates Due November 15, 2031 CUSIP No. 21988K503* (NYSE: JZJ), $24,000,000 Notional Amount Class A-2 Certificates Due November 15, 2031 CUSIP No. 21988KAE7*. 960,000 Class A-1 Call Warrants CUSIP 21988K214* 240 Class A-2 Call Warrants CUSIP 21988K222* (Underlying Securities Are $24,000,000 Principal Amount 8% Senior Notes Due November 15, 2031 CUSIP No. 001957BD0* Issued by AT&T Corporation). Mar 11, 2014) - 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, AT&T Note-Backed Series 2003-18, dated as of November 19, 2003 in respect of the Corporate Backed Trust Certificates, AT&T Note-Backed Series 2003-18 Trust that certain Call Warrants Holders have exercised their rights to purchase 760,000 of the 960,000 total outstanding Class A-1 (NYSE: JZJ) and $19,000,000 notional amount of the $24,000,000 total outstanding notional amount Class A-2 Corporate Backed Trust Certificates on March 14, 2014 at the Call Price and effect an Optional Exchange for the 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 MARCH 14, 2014. If the Trustee receives the Call Price, the Certificates selected pro rata for redemption will be redeemed on the Redemption Date at a price of $25.00 principal plus $0.52682292 accrued interest to the Redemption Date per Class A-1 Certificate and $150.12115789 interest per $1,000 stated notional amount Class A-2 Certificate. The total payment of the Redemption Amount on the Certificates will be $22,252,687.42, consisting of $19,000,000.00 principal and $400,385.42 accrued interest on the Class A-1 Certificates and $2,852,302.00 interest on the $19,000,000 notional amount Class A-2 Certificates selected for redemption. The Class A-2 Certificates are interest-only Certificates and will not receive payment of principal. No further interest will accrue on the Certificates selected for redemption after the Redemption Date. 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. ____________ August 9, 2010 -- U.S. Bank Trust National Association, as Trustee, under the Standard Terms for Trust Agreements dated as of January 16, 2001, as supplemented by the Series Supplement, AT&T Note-Backed Series 2003-18, dated as of November 19, 2003 in respect of the Corporate Backed Trust Certificates, AT&T Note-Backed Series 2003-18 Trust with Lehman ABS Corporation, as depositor, received notices that certain Call Warrants Holders have exercised their rights to purchase $16,000,000 of the Underlying Securities of the Trust on August 12, 2010. THE EXERCISE OF THE CALL WARRANTS IS CONDITIONAL UPON RECEIPT BY THE TRUSTEE OF THE WARRANT EXERCISE 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 Call Date, then the Trustee will redeem (i) 640,000 of the Class A-1 Certificates (selected pro rata) on the Call Date at a price of $25 plus accrued interest of $0.38515625 per Certificate per Class A-1 Certificate and (ii) $16,000,000 notional amount of the Class A-2 Certificates (selected pro rata) on the Call Date at a price of $159.57470563 accrued interest per $1,000 stated notional amount Class A-2 Certificate. The Class A-2 Certificates are interest-only Certificates and will not receive payment of principal. No interest will accrue on the Certificates selected for redemption after the Call Date. After giving effect to the above redemption of Certificates and Call Warrants exercise, 960,000 of Class A-1 Certificates, $24,000,000 notional amount of Class A-2 Certificates, 960,000 Class A-1 Call Warrants and 240 Class A-2 Call Warrants will remain outstanding. If the Trustee does not receive the call price by 10:00 a.m. (New York City time) on the Call Date, then (i) the Certificates selected for redemption will remain outstanding and continue to accrue interest as if no exercise notice had been given and (ii) these and other Call Warrants holders may elect to deliver notices 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 redemption, Holders with questions may contact Bondholder Services at (800) 934-6802. ____________ The interest rate on the Class A-1 Certificates will be increased by 0.25% for each rating notch downgrade of the Underlying Securities by either S&P or Moody's and such interest rate will be decreased by 0.25% for each rating notch upgrade of the Underlying Securities by either S&P or Moody's, but in no event will the interest rate be reduced below 6.375%. The initial Interest Rate listed above assumes that the interest rate on the Underlying Securities will be 8.75% as of the Closing Date.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Lehman ABS Corp., 7.125% Corporate Backed Trust Certificates, AT&T Note-Backed Series 2003-18, Class A-1, price to the public $25 per certificate. Underlying securities are the 8.00% Senior Notes due 11/15/2031 issued by AT&T Corp., now part of AT&T Inc. (NYSE: T). The certificates initially pay 7.125% ($1.78125) per annum distributions semiannually on 5/15 & 11/15 to holders of record on the day immediately preceding the payment date. The unit's distribution rate can be adjusted up or down based on changes in the credit ratings on the underlying securities. Certificates are callable at the option of the call warrant holder on or after 11/19/2008 at $25 per certificate plus accrued and unpaid interest. Certificate ratings at the IPO were BBB by S&P and Baa2 by Moody's. Lehman ABS Corp. is an indirect wholly-owned subsidiary of Lehman Brothers Inc. (NYSE: LEH). For further information on the Corporate Backed Trust Certificates, see the IPO Prospectus by clicking on the ‘Link to IPO Prospectus’ provided below.
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NYSE
Chart
7.13%
$1.78125
$25.00
$25.00
Partial Call
3/14/14

11/15/2031
A3 / A-
1/04/14
5/15 & 11/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No

Goto Parent Company's Record (T)

IPO - 11/18/2003 - 1.58 Million Shares @ $25.00/share.    Link to IPO Prospectus
Market Value $ 39.4 Million

Company's Online Information Links
HOME PAGE:     http://www.lehman.com/

(This parent company URL is for reference only and does not have specific information on the security.)

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Goto SEC Filings

Address and Phone Numbers
Address:   200 Vesey Street, 24th Floor, New York, NY 10285
Main Phone Number 212-526-7000
Fax Number 212-526-3738
Toll Free Phone Number 800-666-2388

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