NEW YORK, NY--(Marketwire - August 9, 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, AT&T Note-Backed Series 2004-2, dated as of January 21, 2004 (the "Trust Agreement") in respect of the Corporate Backed Trust Certificates, AT&T Note-Backed Series 2004-2 Trust (the "Trust") with Lehman ABS Corporation, as depositor, received notices that certain Call Warrants Holders have exercised their rights to purchase the assets of the Trust on August 12, 2010 (the "Redemption Date").
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 (the "Certificates") will be redeemed in full on the Redemption Date at a price of $25 principal plus $0.3625000 accrued interest to the Redemption Date per Class A-1 Certificate and $203.79586740 interest per $1,000 stated notional amount Class A-2 Certificate. The Class A-2 Certificates are interest-only Certificates and will not receive payment of principal. 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 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 redemption, Holders with questions may contact Bondholder Services at (800) 934-6802.
U.S. Bank Trust National Association,
as Trustee
Contact Information:
Contact:
Bondholder Services
(800) 934-6802
100 Wall Street
Suite 1600
New York, NY 10005