Published: August 26, 2010
Synthetic Fixed-Income Securities, Inc. Announces Conditional Redemption of STRATS (SM) Trust for Historic TW STRATS TRUST for Historic TW Inc. Securities, Series 2004-5
CHARLOTTE, N.C. - (BUSINESS WIRE) - U.S. Bank Trust National Association serves as trustee (the "Trustee" )
for the above-referenced Trust (the "Trust" ) formed pursuant to the
terms of the Base Trust Agreement dated as of September 26, 2003 as
supplemented by the Series Supplement Series 2004-5, dated as of March
12, 2004. The Trustee has received notice that the Call Warrant Holder
has exercised its right to purchase the Underlying Securities of the
Trust on September 8, 2010 (the "Redemption Date" ).
The Call Warrant Holder has given notice to the Trustee to exercise all
Call Warrants for the purchase $35,000,000 of the Underlying Securities
held by the Trust, and agrees to make payment equal to the Warrant
Exercise Purchase Price for the Underlying Securities being purchased
pursuant to the exercise of the Call Warrants, which includes accrued
and unpaid interest to and including the Warrant Exercise Date,
determined to be September 8, 2010 (the "Warrant Exercise Date" or
"Redemption Date" ).
THE EXERCISE OF THE CALL WARRANTS IS CONDITIONAL UPON RECEIPT BY THE
TRUSTEE OF THE WARRANT EXERCISE PURCHASE PRICE ON THE WARRANT EXERCISE
DATE. THERE CAN BE NO ASSURANCE THAT THE CALL WARRANTS WILL IN
FACT BE EXERCISED ON THE WARRANT EXERCISE DATE.
If the Trustee receives the Warrant Exercise Purchase Price by 11:00
a.m. (New York City time) on the Redemption Date, then (i) the Class A-1
Certificates issued by the Trust will be redeemed in whole on the
Redemption Date at a price of 100% of the Stated Amount of the Class A-1
Certificates to be redeemed plus accrued and unpaid interest to the
Redemption Date (a total redemption price of $25.480642 per Class A-1
Certificate to be redeemed (of this, $25 represents re-payment of
principal and $0.480642 represents accrued but unpaid interest)) and
(ii) the Class A-2 Certificates will be redeemed in whole on the
Redemption Date by payment of accrued and unpaid interest on the
Notional Amount of the Class A-2 Certificates to be redeemed to the date
of redemption, plus the Make Whole Amount (a total redemption price of
$54.715403 per thousand). If the Trustee does not receive the Warrant
Exercise Purchase Price, then (i) the Certificates issued by the Trust
will not be redeemed and will continue to accrue distributions 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.
Synthetic Fixed-Income Securities, Inc.
Dated: August 26, 2010
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Moody's Investors Service Inc.
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Standard & Poor's Rating Services
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New York Stock Exchange
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U.S. Bank Trust National Association
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Synthetic Fixed-Income Securities, Inc.
William Threadgill,
212-214-6277
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