SOURCE: CORPORATE BACKED TRUST CERTIFICATES

Corporate Backed Trust Certificates

February 09, 2012 16:00 ET

Conditional Full Redemption of Corporate Backed Trust Certificates Goodyear Tire & Rubber Note-Backed Series 2001-34 Trust

Class A-1 Certificates (NYSE Listing XKK) CUSIP*: 21988G577 Class A-2 Certificates CUSIP*: 21988GBG0

NEW YORK, NY--(Marketwire - Feb 9, 2012) - 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 dated as of September 6, 2001, as amended (the "Trust Agreement") in respect of the Corporate Backed Trust Certificates, Goodyear Tire & Rubber Note-Backed Series 2001-34 Trust (the "Trust") with Lehman ABS Corporation, as depositor, received notice that the Call Warrants Holder has exercised its right to purchase all of the outstanding 4,362,750 Class A-1 Corporate Backed Trust Certificates (the "Class A-1 Certificates,") (NYSE: XKK) and $6,232,500 stated principal amount Class A-2 Corporate Backed Trust Certificates (the "Class A-2 Certificates," and together with the Class A-1 Certificates, the "Certificates") on February 15, 2012 (the "Redemption Date") at the Call Price and effect an Optional Exchange for the Underlying Securities.

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 will be redeemed in full on the Redemption Date at a price of $10 principal plus $0.331111111 accrued interest per Class A-1 Certificate and $207.508446049 principal per $1,000 stated principal amount Class A-2 Certificate (the "Call Price"). The Class A-2 Certificates are principal-only certificates and will not receive payment of interest. 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 Warrants Holder 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, 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.

Contact Information

  • Contact:
    Bondholder Services
    (800) 934-6802