NEW YORK, NY--(Marketwired - Sep 10, 2014) - 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, AT&T Note-Backed Series 2003-18, dated as of November 19, 2003, (the "Trust Agreement") in respect of the Corporate Backed Trust Certificates, AT&T Note-Backed Series 2003-18 Trust (the "Trust") that certain Call Warrants Holders have exercised their rights to purchase the remaining 200,000 total outstanding Class A-1 (
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 SEPTEMBER 15, 2014.
If the Trustee receives the Call Price, the Certificates selected pro rata for redemption will be redeemed on the Redemption Date at a price of $25.00 principal plus $0.53125000 accrued interest to the Redemption Date per Class A-1 Certificate and $148.36792800 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 $5,848,089.64, consisting of $5,000,000.00 principal and $106,250.00 accrued interest on the Class A-1 Certificates and $741,839.64 interest on the $5,000,000 notional amount Class A-2 Certificates (the "Redemption Amount") selected for redemption. The Class A-2 Certificates are interest-only Certificates and will not receive payment of principal. No further interest will accrue on the Certificates selected for redemption after the Redemption Date.
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
September 10, 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
