Notice of CONDITIONAL FULL Redemption Corporate Backed Trust Certificates, Kraft Foods Note-Backed Series 2003-11 Trust 1,200...
2013年12月24日 - 6:00AM
Marketwired
Notice of CONDITIONAL FULL Redemption Corporate Backed Trust
Certificates, Kraft Foods Note-Backed Series 2003-11 Trust
1,200,000 $25 Par ($30,000,000 Certificate Principal Amount) Class
A-1 Certificates Due November 1, 2031 CUSIP No. 21988G171* (NYSE:
JZT)
$30,000,000 Notional Amount Class A-2 Certificates Due November
1, 2031 CUSIP No. 21988GCR5* (Relating to 1,200,000 Class A-1 Call
Warrants CUSIP No. 21988G189* and 300 Class A-2 Call Warrants CUSIP
No. 21988G197*) (Underlying Securities Are $30,000,000 Principal
Amount 6 1/2% Notes Due November 1, 2031 CUSIP No. 50075NAC8*
Issued by Kraft Foods, Inc.)
NEW YORK, NY--(Marketwired - Dec 23, 2013) - 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,
Kraft Foods Note-Backed Series 2003-11, dated as of July 24, 2003
(the "Trust Agreement") in respect of the Corporate Backed Trust
Certificates, Kraft Foods Note-Backed Series 2003-11 Trust (the
"Trust"), that certain Call Warrant Holders have exercised their
rights to purchase all of the 1,200,000 outstanding ($30,000,000
principal amount) Class A-1 Certificates (the "Class A-1
Certificates")(NYSE: JZT) and $30,000,000 Notional Amount
outstanding Class A-2 Certificates (the "Class A-2 Certificates")
(together, the "Certificates") on December 27, 2013 (the "Call
Date" and "Redemption Date") each at the related Call Price, and
effect an Optional Exchange for the $30,000,000 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 1,200,000 Class A-1
Certificates and $30,000,000 Principal Amount Class A-2
Certificates described above will be selected for redemption on the
Redemption Date at a price of $25.00 principal plus $0.22847220
accrued interest to the Redemption Date per Class A-1 Certificate
and $64.10486767 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 $32,197,312.70,
consisting of $30,000,000.00 principal and $274,166.67 accrued
interest on the Class A-1 Certificates and $1,923,146.03 interest
on the Class A-2 Certificates (the "Redemption Amount"). 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 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.
By U.S. Bank Trust National Association as Trustee
December 23, 2013
*U.S. Bank shall not be held responsible for the selection or
the use of the CUSIP number, nor is any representation made as to
its correctness indicated in the Redemption Notice. It is
included solely for the convenience of the Holders.
U.S. Bank National Association Corporate Trust Services 100 Wall
Street, 16th floor New York, NY 10005 (800) 934-6802
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