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Corporate Asset Backed Corp., CABCO Trust 2004-101 Goldman Sachs Floating Rate
Ticker Symbol: GYB* CUSIP: 12679N203 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/06/2019
Security has been Called for: Friday, December 6, 2019
From the form 8-K filed with the SEC on 11/22/2019 -- Notice of CONDITIONAL FULL Redemption
Corporate Asset Backed Corporation, CABCO Series 2004-101 Trust (Goldman Sachs Capital I)
$25 Par ($150,000,000 principal amount) Floating Rate Callable Certificates due February 15, 2034
CUSIP No. 12679N203* (NYSE: GYB)
Please distribute to all beneficial owners.
NOTICE IS HEREBY GIVEN, pursuant to the terms of the Trust Agreement dated as of May 20, 2004, between Corporate Asset Backed Corporation, as Depositor, and U.S. Bank Trust National Association, as Trustee, in respect of the CABCO Series 2004-101 Trust (Goldman Sachs Capital I) that the Call Option Holder has exercised its rights to purchase all of the above referenced and outstanding certificates on December 6, 2019 at the Call Price and effect an exchange for the $150,000,000 Goldman Sachs Capital I 6.345% Capital Securities due 2/15/2034 CUSIP 38143VAA7* Underlying Securities of the Trust.
THE EXERCISE OF THE CALL OPTIONS 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 OPTIONS 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 the Called Certificates issued by the Trust will be redeemed in full on the Redemption Date at a price of $25 principal plus $0.047395833 accrued interest to the Redemption Date per Certificate. The total payment on the Called Certificates will be $150,284,375.00 consisting of $150,000,000.00 principal and $284,375.00 accrued interest on the Certificates. No interest will accrue on the Called Certificates after the Redemption Date. After giving effect to the redemption of Called Certificates and Call Option exercise, none of the Called Certificates and Call Options will remain outstanding and their amounts will be reduced to zero. If the Trustee does not receive the Call Price, then (i) the Called Certificates issued by the Trust will continue to accrue interest as if no exercise notice had been given and (ii) the Call Option holder(s) may elect to deliver a conditional notice of exercise in the future.
The Certificates are issued in Book Entry Form only at DTC; Payment of the Redemption Amount will be made only through DTC’s Participants. Pursuant to the terms of the Trust Agreement and as further described in the provisions of the Prospectus Supplement dated March 20, 2004 with respect to the CABCO Series 2004-101 Trust (Goldman Sachs Capital I) Certificates, the Certificates are issued, maintained and transferred on the book-entry records of The Depository Trust Company (“DTC”) and its Participants. The Certificates are represented by a certificate registered in the name of the nominee of DTC, which is currently CEDE & Co. All references to actions by certificate holders with respect to the Certificates shall refer to actions taken by DTC upon instructions from its Participants.
Interest on the principal or notional amount of Called Certificates designated to be redeemed shall cease to accrue on and after the Redemption Date.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Corporate Asset Backed Corp., CABCO Series 2004-101 Trust (Goldman Sachs Capital I), Floating Rate Callable Certificates, principal amount $25 per trust certificate. The underlying securities are the 6.345% GS Capital Securities issued by Goldman Sachs Capital I and guaranteed by Goldman Sachs Group Inc. (NYSE: GS) due 2/15/2034. The certificates are redeemable at the depositor's option on or after 5/15/2009 at $25 plus accrued and unpaid distributions. The floating rate distributions, based on the three-month LIBOR plus 0.85% (provided that such rate will always be greater than or equal to 3.25% and will not exceed 8.25%), are paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the first day prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The company has the right, at any time, to defer interest payments on the underlying debentures for up to 10 consecutive semiannual periods (but not beyond the maturity date). The certificates are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. To be issued the certificates must be rated at least A- by S&P and A2 by Moody's. For further information on the CABCO Trust Certificates, see the IPO Prospectus by clicking on the ‘Link to IPO Prospectus’ provided below. Corporate Asset Backed Corp. is a subsidiary of UBS PaineWebber.
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Go to Parent Company's Record (GS)
IPO - 5/17/2004 - 6.00 Million Certificates @ $25.00 /cert.
Link to IPO Prospectus
Market Value $150.0 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Address and Phone Numbers |
Address: 1285 Avenue of the Americas, 11th Floor, New York, NY 10019 |
Main Phone Number |
212-713-2841 |
Fax Number |
Not Available |
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