Welcome!

News Feed Item

Notice of CONDITIONAL FULL Redemption Corporate Backed Trust Certificates, Sprint Capital Note-Backed Series 2003-17 Trust 1,000,000 $25 Par ($25,000,000 Certificate Principal Amount) Class A-1 Certificates Due November 15, 2028 CUSIP No. 21988K404* (NYSE

(relating to 1,000,000 Class A-1 Call Warrants CUSIP No. 21988K172* and 1,820 Class A-2 Call Warrants CUSIP No. 21988K180*) (Underlying Securities Are $25,455,000 Principal Amount 6.875% Notes Due November 15, 2028 CUSIP No. 852060AD4* Issued by Sprint Ca

NEW YORK, NY -- (Marketwired) -- 06/12/14 -- 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, Sprint Capital Note-Backed Series 2003-17, dated as of October 29, 2003 (the "Trust Agreement") in respect of the Corporate Backed Trust Certificates, Sprint Capital Note-Backed Series 2003-17 Trust (the "Trust"), that certain Call Warrant Holders have exercised their rights to purchase all of the 1,000,000 outstanding ($25,000,000 principal amount) Class A-1 Certificates (the "Class A-1 Certificates") (NYSE: JZK) and $455,000 Principal Amount outstanding Class A-2 Certificates (the "Class A-2 Certificates") (together, the "Certificates") on June 17, 2014 (the "Call Date" and "Redemption Date") each at the related Call Price, and effect an Optional Exchange for the $25,455,000 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 1,000,000 Class A-1 Certificates and $455,000 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 $0.15555556 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 "Call Price"). The total payment of the Redemption Amount on the Certificates will be $25,155,555.56, consisting of $25,000,000.00 principal and $155,555.56 accrued interest on the Class A-1 Certificates and $0.00 principal on the Class A-2 Certificates (the "Redemption Amount"). 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 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

June 12, 2014

*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

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Andi Mann, Chief Technology Advocate at Splunk, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, and communicator. For over 30 years across five continents, he has built success with Fortune 500 corporations, vendors, governments, and as a leading research analyst and consultant.
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
"We do one of the best file systems in the world. We learned how to deal with Big Data many years ago and we implemented this knowledge into our software," explained Jakub Ratajczak, Business Development Manager at MooseFS, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
CI/CD is conceptually straightforward, yet often technically intricate to implement since it requires time and opportunities to develop intimate understanding on not only DevOps processes and operations, but likely product integrations with multiple platforms. This session intends to bridge the gap by offering an intense learning experience while witnessing the processes and operations to build from zero to a simple, yet functional CI/CD pipeline integrated with Jenkins, Github, Docker and Azure...
The hierarchical architecture that distributes "compute" within the network specially at the edge can enable new services by harnessing emerging technologies. But Edge-Compute comes at increased cost that needs to be managed and potentially augmented by creative architecture solutions as there will always a catching-up with the capacity demands. Processing power in smartphones has enhanced YoY and there is increasingly spare compute capacity that can be potentially pooled. Uber has successfully ...
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
Chris Matthieu is the President & CEO of Computes, inc. He brings 30 years of experience in development and launches of disruptive technologies to create new market opportunities as well as enhance enterprise product portfolios with emerging technologies. His most recent venture was Octoblu, a cross-protocol Internet of Things (IoT) mesh network platform, acquired by Citrix. Prior to co-founding Octoblu, Chris was founder of Nodester, an open-source Node.JS PaaS which was acquired by AppFog and ...
By 2021, 500 million sensors are set to be deployed worldwide, nearly 40x as many as exist today. In order to scale fast and keep pace with industry growth, the team at Unacast turned to the public cloud to build the world's largest location data platform with optimal scalability, minimal DevOps, and maximum flexibility. Drawing from his experience with the Google Cloud Platform, VP of Engineering Andreas Heim will speak to the architecture of Unacast's platform and developer-focused processes.
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
The vast majority of businesses now use cloud services, yet many still struggle with realizing the full potential of their IT investments. In particular, small and medium-sized businesses (SMBs) lack the internal IT staff and expertise to fully move to and manage workloads in public cloud environments. Speaker Todd Schwartz will help session attendees better navigate the complex cloud market and maximize their technical investments. The SkyKick co-founder and co-CEO will share the biggest challe...