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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest Event
Reported) September 19, 1996
LEHMAN ABS CORPORATION, (as depositor under the Pooling and Servicing
Agreement, dated as of September 1, 1996, which forms Provident Bank Home
Equity Loan Trust 1996-1 which will issue the Home Equity Loan Asset-Backed
Certificates, Series 1996-1).
LEHMAN ABS CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 333-03911 13-3447441
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
Three World Financial Center
200 Vesey Street
New York, New York 10285
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (212) 526-7000
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Item 5. Other Events.
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Filing of Computational Materials.
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In connection with the offering of the Home Equity Loan Asset-Backed
Certificates, Series 1996-1 (the "Certificates"), Lehman Brothers Inc., as
underwriter of the Certificates (the "Underwriter"), has prepared certain
materials (the "Computational Materials") for distribution to its
potential investors. Although the Registrant provided the Underwriter
with certain information regarding the characteristics of the Loans in the
related portfolio, it did not participate in the preparation of the
Computational Materials. Concurrently with the filing hereof, pursuant to
Rule 202 of Regulation S-T, the Registrant is filing the Computational
Materials by paper filing on Form SE in reliance on a continuing hardship
exemption.
For purposes of this Form 8-K, Computational Materials shall mean
computer generated tables and/or charts displaying, with respect to the
Certificates, any of the following: yield; average life, duration;
expected maturity; interest rate sensitivity; loss sensitivity; cash flow
characteristics; background information regarding the Loans; the proposed
structure; decrement tables; or similar information (tabular or otherwise)
of a statistical, mathematical, tabular or computational nature. The
Computational Materials are attached hereto as Exhibit 99.1.
Item 7. Financial Statements, Pro Forma Financial
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Information and Exhibits.
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(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Computational Materials.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
LEHMAN ABS CORPORATION
By: /s/ Martin P. Harding
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Name: Martin P. Harding
Title: Managing Director
Dated: September 19, 1996
Exhibit Index
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Exhibit Page
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99.1 The Computational Materials(P) 6
Exhibit 99.1
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In accordance with Rule 202 of Regulation S-T, the Computational
Materials are being filed on paper pursuant to Form SE pursuant to a
continuing hardship exemption.
