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MS Structured Asset SATURNS 2004-06, 6.00% Goldman Sachs Cap I
Ticker Symbol: HJL* CUSIP: 804111201 Exchange: NYSE
* NOTE: This security is no longer trading as of 5/28/2013
Security has been Called for: Tuesday, May 28, 2013
May 10, 2013 -- Structured Asset Trust Unit Repackagings (SATURNS), Goldman Sachs Capital I Capital Security Backed Series 2004-6 Trust (New York Stock Exchange Ticker Symbol “HJL”), announced today that it has received a Call Notice notifying the Trust of the intended exercise of 100% of the remaining outstanding Warrants representing the right to acquire a combined Unit Principal Balance of 40,000,000 Class A Units and the equivalent Notional Amount of Class B Units for settlement on May 28, 2013. Under the terms of the Warrants, delivery of the notice does not give rise to an obligation on the part of the Warrantholder to pay the specified call price; and if by 4 p.m. New York time on the Business Day prior to the Intended Settlement Date the party exercising the Warrants has not paid the required call price, the Call Notice will be effectively rescinded, in which case settlement of the relevant Warrants would not occur and the Warrants would continue in effect and could be exercised on a subsequent date. If settlement of the Warrants occurs pursuant to the Call Notice on the Intended Settlement Date, then Class A Unitholders will receive the par value plus accrued interest of each Class A Unit and Class B Unitholders will receive accrued interest plus the Class B Present Value Amount in relation to each Class B Unit, each in an amount to be determined in accordance with the Trust Agreement. The Trust recently received Call Notices notifying the Trust of the intended exercise of other outstanding Warrants representing the right to acquire Class A Units and the equivalent Notional Amount of Class B Units for settlement on May 23, 2013. If settlement of the Warrants intended to be exercised under the Previous Call Notice does not occur, fewer than all outstanding Class A Units and Class B Units would be redeemed on the Intended Settlement Date. In such case, Class A Unitholders and Class B Unitholders will be randomly selected for redemption.
CUSIP: 804111201 (A Units)
804111AA0 (B Units)
Symbol: HJL
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QUANTUMONLINE.COM SECURITY DESCRIPTION: MS Structured Asset Corp., SATURNS (Structured Asset Trust Unit Repackagings), Goldman Sachs Capital I Security Backed, Series 2004-6, 6.00% Class A Callable Units, issued in $25 denominations. Underlying securities are the 6.345% Trust Preferred Securities due 2/15/2034 issued by Goldman Sachs Capital I , and guaranteed by Goldman Sachs Group Inc. (NYSE: GS). Distributions of 6.00% ($1.50) per annum are paid semi-annually on 2/15 & 8/15 to holders of record on the third business day prior to the payment date. On or after 4/15/2009 the units may be redeemed under the call rights of the swap agreement for $25 plus accrued and unpaid dividends. If redeemed prior to 4/15/2009 the holders may receive an additional amount of up to $1.50 per unit (which includes any make-whole payment). The security issuer has the right, at any time, to defer interest payments for up to 10 consecutive semi-annual periods (but not beyond the maturity date). The trust's assets consist of the 6.345% Junior Subordinated Deferrable Interest Debentures due 2/15/2034 which were purchased from the company using the funds generated from the sale of the trust preferred securities. To be issued the units must be assigned a rating of at least BBB- by S&P and Baa3 by Moody's. Units 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. MS Structured Asset Corp. is a subsidiary of Morgan Stanley (NYSE: MS). See the IPO prospectus for further information on the SATURNS by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (GS)
IPO - 4/13/2004 - 3.20 Million Units @ $25.00/unit.
Link to IPO Prospectus
Market Value $80.0 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Address and Phone Numbers |
Address: 1585 Broadway, New York, NY 10036 |
Main Phone Number |
212-761-4000 |
Fax Number |
Not Available |
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