Breaking News

European Court Orders Russia to Pay €1.87 Billion for Yukos Seizure
Tweet TWEET

Notice of Conditional Full Redemption of Corporate Backed Trust Certificates, AIG Debenture-Backed Series 2002-10 Trust

Notice of Conditional Full Redemption of Corporate Backed Trust Certificates, 
AIG Debenture-Backed Series 2002-10 Trust 1,031,753 (@
$25 Par = $25,793,825 Principal Amount) Class A-1 Certificates Due
July 31, 2097 CUSIP No. 21988G429* (NYSE Listing XFD) $34,346,000
Notional Amount Class A-2 Certificates Due July 31, 2097 CUSIP No.
21988GBU9* 
(Underlying Securities Are $34,346,000 Principal Amount 5.60%
Debentures Due July 31, 2097 CUSIP No. 866930AG5* Issued by American
International Group, Inc. ("AIG") Successor by Merger to SunAmerica,
Inc.) 
NEW YORK, NY -- (Marketwire) -- 03/13/13 --  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, in respect to the Trust, dated
as of June 6, 2002 (the "Series Supplement" and together with the
Standard Terms, the "Trust Agreement") and the Warrant Agent
Agreement, dated as of June 6, 2002 (the "Warrant Agent Agreement"),
among the Depositor the Trustee and U.S. Bank as warrant agent (the
"Warrant Agent"), that certain Warrant Holder(s) have exercised their
rights to purchase of all of the above 1,031,753 outstanding
($25,793,000 principal amount) Class A-1 Corporate Backed Trust
Certificates (the "Class A-1 Certificates") (NYSE: XFD) and
$34,346,000 outstanding notional amount Class A-2 Corporate Backed
Trust Certificates (the "Class A-2 Certificates") (together, the
"Certificates") on or about March 19, 2013 (the "Call Date" and
"Redemption Date") each at the related Call Price, and either tender
or effect an Optional Exchange for portions of the $34,346,000
principal amount Underlying Securities held by the Trust (the "Call
Warrant Exercise") as described herein. 
The Call Warrant Exercise and funding of the Call Price are being
executed in the following manner:
 (1) an exercise of Call Warrants
made in connection with and contingent upon acceptance of the
Underlying Securities pursuant to the cash tender offer launched by
AIG (the "Tender Offer") that relates to $32,646,000 principal amount
of Underlying Securities held by the Trust, the exercising Warrant
Holder(s) having directed the Trustee to tender s
uch Underlying
Securities pursuant to the Tender Offer with a bid spread of 285 bps
in excess of the applicable reference yield, and apply the proceeds
expected to be received on or about March 19, 2013 to the Call Price
of the corresponding 980,685 ($24,517,125 principal amount) Class A-1
Certificates and $32,646,000 notional amount Class A-2 Certificates.
The excess of the Tender Offer proceeds over the corresponding Call
Price shall be paid to the exercising Warrant Holder(s) pro rata in
respect to their proportionate exercises of Call Warrants or, if the
corresponding Call Price exceeds the Tender Offer proceeds, the
amount of such excess shall be paid by the exercising Warrant
Holder(s) pro rata in respect to their proportionate exercises of
Call Warrants.  
(2) an exercise of Call Warrants made with respect to the purchase of
51,068 outstanding ($1,276,700 principal amount) Class A-1
Certificates and $1,700,000 outstanding notional amount Class A-2
Certificates on or about March 19, 2013 each at the related Call
Price to be paid by the exercising Warrant Holder(s), who will effect
an Optional Exchange for $1,700,000 principal amount of Underlying
Securities held 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, WHICH IN PART IS PENDING UPON ACCEPTANCE OF TENDERED
UNDERLYING SECURITIES AND PAYMENT OF TENDER OFFER PROCEEDS EXPECTED
FROM AIG ON OR ABOUT MARCH 19, 2013. 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 1,037,753 Class A-1 Certificates
and $34,346,000 notional amount Class A-2 Certificates described
above will be selected for redemption on the Redemption Date at a
price of $25.00 principal plus $0.227986107 accrued interest to the
Redemption Date per Class A-1 Certificate and $71.726701799 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 $28,492,575.65, consisting of $25,793,825.00
principal and $235,225.35 accrued interest on the Class A-1
Certificates and $2,463,525.30 interest on the $34,346,000 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 interest will accrue on
the Certificates 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 
March 13, 2013 
*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
(800) 934-6802