Conditional Full Redemption of Corporate Backed Trust Certificates, Ford Motor Company Note-Backed Series 2003-6 Trust CLASS A-1
July 27 2010 - 3:00PM
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(NYSE: XVF) -- 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, Ford Motor
Note-Backed Series 2003-6, dated as of March 13, 2003 (the "Trust
Agreement") in respect of the Corporate Backed Trust Certificates,
Ford Motor Note-Backed Series 2003-6 Trust (the "Trust") with
Lehman ABS Corporation, as depositor, received notice that the Call
Warrants Holder has exercised its right to purchase the assets of
the Trust on August 2, 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 $0.08888889
accrued interest to the Redemption Date per Class A-1 Certificate
and $0.00 principal per $1,000 stated principal amount Class A-2
Certificate. The Class A-2 Certificates are principal-only
Certificates and will not receive payment of interest. As set forth
in the Trust Agreement, the Call Price for each related Call Date,
in the case of the Class A-2 Certificates being purchased pursuant
to the exercise of the Call Warrants, is $0. 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 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, Holders with questions may contact
Bondholder Services at (800) 934-6802.
U.S. Bank Trust National Association, as
Trustee
Contact: Bondholder Services (800) 934-6802 100 Wall Street
Suite 1600 New York, NY 10005
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