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Lehman ABS Corp Bkd Trust Certs 2002-17, 6.125% Amer Gen Inst Cap A
Ticker Symbol: XFP* CUSIP: 21988G353 Exchange: NYSE
* NOTE: This security is no longer trading as of 5/09/2014
Security has been Called for: Friday, May 9, 2014
Notice of CONDITIONAL FULL Redemption Corporate Backed Trust Certificates, American General Institutional Capital A Capital Securities-Backed Series 2002-17 Trust 2,959,640 $25 Par ($73,991,000 Certificate Principal Amount) Class A-1 Certificates Due December 1, 2045 CUSIP No. 21988G353* (NYSE: XFP) $73,991,000 Notional Amount Class A-2 Certificates Due December 1, 2045 CUSIP No. 21988GCA2. (Relating to 2,959,640 Class A-1 Call Warrants and 739.91 Class A-2 Call Warrants Without CUSIP) (Underlying Securities Are $73,991,000 Principal Amount AIG Life Holdings Inc. 7.57% Due December 1, 2045 CUSIP 00138GAB5* - Formerly American General Institutional Capital A 7.57% Capital Securities Due December 1, 2045 CUSIP 02637VAA6*). May 05, 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, American General Institutional Capital A Capital Securities-Backed Series 2002-17, dated as of October 23, 2002 as amended in respect of the Corporate Backed Trust Certificates, American General Institutional Capital A Capital Securities-Backed Series 2002-17 Trust (the "Trust"), that certain Call Warrant Holders have exercised their rights to purchase all of the 2,959,640 outstanding ($73,991,000 principal amount) Class A-1 Certificates (NYSE: XFP) and $73,991,000 Notional Amount outstanding Class A-2 Certificates on May 9, 2014 each at the related Call Price, and effect an Optional Exchange for the $73,991,000 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 2,959,640 Class A-1 Certificates and $73,991,000 Notional Amount Class A-2 Certificates described above will be selected for redemption on the Redemption Date at a price of $25.00 principal plus $0.67204861 accrued interest to the Redemption Date per Class A-1 Certificate and $180.13113717 interest per $1,000 stated notional amount Class A-2 Certificate (the "Call Price"). The total payment of the Redemption Amount on the Certificates will be $89,308,104.92, consisting of $73,991,000.00 principal and $1,989,021.95 accrued interest on the Class A-1 Certificates and $13,328,082.97 interest on the Class A-2 Certificates. The Class A-2 Certificates are interest-only Certificates and will not receive payment of principal. 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 issued by the Trust will continue to accrue interest as if no exercise notice had been given and (ii) the Call 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.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Lehman ABS Corp., 6.125% Corporate Backed Trust Certificates, Series 2002-17, Class A-1, price to the public $25. Underlying securities are the 7.57% Capital Securities, Series A due 12/01/2045 issued by American General Institutional Capital A, a subsidiary of American General Corp. 6.125% per annum distributions are paid semiannually on 6/1 & 12/1 to holders of record at the close of business on the day preceding the payment date. Certificates are callable at the option of the call warrant holder on or after 10/23/2007 at $25 per certificate plus accrued and unpaid interest. The debenture issuer has the right, at any time, to defer interest payments for up to 10 consecutive semi-annual periods. Certificate ratings at the IPO were AA by S&P and Aa1 by Moody's. Lehman ABS Corp. is an indirect wholly-owned subsidiary of Lehman Brothers Inc. For further information on the Corporate Backed Trust Certificates, see the IPO Prospectus by clicking on the link provided below.
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Go to Parent Company's Record (AIG)
IPO - 10/23/2002 - 2.96 Million Certificates @ $25.00/cert.
Link to IPO Prospectus
Market Value $73.7 Million
Company's Online Information Links
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HOME PAGE:
http://www.lehman.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: 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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