SOURCE: Trust Certificates (TRUCs), Series 2001-2 Trust

Trust Certificates (TRUCs), Series 2001-2 Trust

January 15, 2010 15:29 ET

Conditional Partial Redemption of Trust Certificates (TRUCs), Series 2001-2 Trust

Class A-1 Certificates (CUSIP: 89826S202; NYSE: TZF)

NEW YORK, NY--(Marketwire - January 15, 2010) - 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 2001-2 dated as of July 10, 2001 (the "Trust Agreement") in respect of the Trust Certificates (TRUCs) Series 2001-2 Trust (NYSE: TZF) (the "Trust"), received notice that certain Call Warrants holders have exercised their right to purchase $27,500,000 of the Underlying Securities of the Trust on February 16, 2010 (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 1,098,863 of the Class A-1 Certificates (selected by lot) on the Call Date at a price of $25 plus accrued interest of $0.369791666 per Certificate per Class A-1 Certificate and $28,416.65 principal amount of the uncertificated Class A-2 Certificate will be retired without payment. No interest will accrue on the Class A-1 Certificates selected for redemption 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 selected for redemption will remain outstanding and continue to accrue interest as if no exercise notice had been given, (ii) $28,416.65 of the uncertificated Class A-2 Certificate selected for retirement will remain outstanding and (iii) these and other Call Warrants holders 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, please contact David J. Kolibachuk of U.S. Bank Trust National Association at 212-361-2459.

Contact Information

  • Contact
    David J. Kolibachuk
    U.S. Bank Trust National Association
    212-361-2459