Conditional Full Redemption of Trust Certificates (TRUCs), Series 2002-1 Trust; 1,280,000 $25 Par Class A-1 Certificates CUSI...
2012年10月3日 - 5:47AM
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U.S. Bank Trust National Association, as Trustee, under the
Standard Terms for Trust Agreements dated as of June 19, 2001,
between Bear Stearns Depositor Inc., as Depositor, and U.S. Bank
Trust National Association, as Trustee, as supplemented by the
Series Supplement for the Trust Certificates (TRUCs) Series 2002-1
dated as of March 28, 2002 (the "Trust Agreement") in respect of
the Trust Certificates (TRUCs) Series 2002-1 Trust (the "Trust"),
received notice that the Call Warrants holder has exercised its
right to purchase the entire $32,130,000 principal amount of
Underlying Securities of the Trust on October 10, 2012 (the "Call
Date").
THE EXERCISE OF THE CALL WARRANTS IS
CONDITIONAL UPON RECEIPT BY THE TRUSTEE OF THE CALL PRICE WITH
RESPECT TO SUCH EXERCISE ON THE CALL 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 Call Date, then the Trustee will redeem all of
the 1,280,000 total outstanding Class A-1 Certificates on the Call
Date at a price of $25 plus accrued interest of $0.775347219 per
Class A-1 Certificate and all of the $130,000 principal amount
total outstanding uncertificated Class A-2 Certificates will be
retired without payment. No interest will accrue on the Class A-1
Certificates after the Call Date. If the Trustee does not receive
the call price by 10:00 a.m. (New York City time) on the Call Date,
then (i) the Class A-1 Certificates and Class A-2 Certificates will
remain outstanding as if no exercise notice had been given with the
Class A-1 Certificates continuing to accrue interest, and (ii) the
Call Warrants holder may elect to deliver notices 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, Certificate Holders with questions may
contact our Bondholder Services at (800) 934-6802.
*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 this notice. It is included solely for
the convenience of the certificateholders.
Bondholder Services (800) 934-6802
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