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Lehman ABS Corp Bkd Trust Certs 2003-06, 8.00% Ford Motor Co.
Ticker Symbol: XVF* CUSIP: 21988G270 Exchange: NYSE
* NOTE: This security is no longer trading as of 8/02/2010
Security has been Called for: Monday, August 2, 2010
July 27, 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, Ford Motor Note-Backed Series 2003-6, dated as of March 13, 2003 in respect of the Corporate Backed Trust Certificates, Ford Motor Note-Backed Series 2003-6 Trust with Lehman ABS Corporation, as depositor, received notice that the Call Warrants Holder has exercised its right to purchase the assets of the Trust on August 2, 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 Redemption Date, then the certificates issued by the Trust will be redeemed in full on the Redemption Date at a price of $25 principal plus $0.08888889 accrued interest to the Redemption Date per Class A-1 Certificate and $0.00 principal per $1,000 stated principal amount Class A-2 Certificate. The Class A-2 Certificates are principal-only Certificates and will not receive payment of interest. As set forth in the Trust Agreement, the Call Price for each related Call Date, in the case of the Class A-2 Certificates being purchased pursuant to the exercise of the Call Warrants, is $0. No interest will accrue on the Certificates after the Redemption Date. 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 holder 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 redemption, Holders with questions may contact Bondholder Services at (800) 934-6802.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Lehman ABS Corp., 8.00% Corporate Backed Trust Certificates, Series 2003-6, Class A-1, price to the public $25 per certificate. Underlying securities are the 7.45% GlobLS due 7/16/2031 issued by Ford Motor Co. (NYSE: F). The certificates pay 8.00% ($2.00) per annum distributions semiannually on 1/16 & 7/16 to holders of record one day prior to the payment date. Certificates are callable at the option of the call warrant holder on or after 3/13/2008 at $25 per certificate plus accrued and unpaid interest. Certificate ratings at the IPO were BBB (credit watch negative) by S&P and Baa1 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.
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Go to Parent Company's Record (F)
IPO - 3/11/2003 - 1.00 Million Certificates @ $25.00/cert.
Link to IPO Prospectus
Market Value $25.0 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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