NEW YORK, NY--(Marketwired - January 27, 2017) - 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 a Series Supplement with respect to the Kinder Morgan Debenture-Backed Series 2002-6 Trust dated as of April 16, 2002 (collectively, as amended, the "Trust Agreement") in respect of the Corporate Backed Trust Certificates, Kinder Morgan Debenture-Backed Series 2002-6 (the "Trust") that certain Call Warrants Holders have exercised their rights to purchase the 1,057,419 total outstanding Corporate Backed Trust Certificates (NYSE: CVB) (the "Certificates") on February 2, 2017 (the "Call Date" and "Redemption Date") at the Call Price and effect an Optional Exchange for the $11,000,000 principal amount Kinder Morgan, Inc. (now known as Knight Inc.) 7.45% Senior Debentures due March 1, 2098 CUSIP No. 482620AX9* held as the Underlying Securities 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 FEBRUARY 2, 2017.
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 $10.00 principal plus $0.325069447 accrued interest to the Redemption Date per Certificate (the "Call Price"). The total payment of the Redemption Amount on the Certificates will be $10,917,924.61, consisting of $10,574,190.00 principal and $343,734.61 accrued interest on the Certificates (the "Redemption Amount") selected for redemption. 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 issued by the Trust will continue to accrue interest as if no exercise notice had been given and (ii) the call warrant holder may elect to deliver a conditional notice of exercise in the future.
After giving effect to the above redemption of Certificates and Call Warrants exercise, no Certificates or Call Warrants will remain outstanding and no Underlying Securities will remain held by the Trust.
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.
U.S. Bank Trust National Association, as Trustee
*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 Notice. It is included solely for the convenience of the Holders.