SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
(MARK ONE)
|X| Annual Report under Section 13 or 15(d) of the Securities Exchange Act
of 1934 For the fiscal year ended December 31, 1997
OR
|_| Transition Report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 For the transition period from _______________
to _______________
Commission File No. 333-44593
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SALOMON BROTHERS MORTGAGE SECURITIES VII, INC. (SERIES 1996-6)
--------------------------------------------------------------
(Exact name of registrant as specified in its charter)
DELAWARE 13-3439681
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
SEVEN WORLD TRADE CENTER, 40TH FLOOR
NEW YORK, NEW YORK 10048
-----------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 212 783-5659
------------
Securities registered pursuant to Section 12(b) of the Act:
None
Securities registered pursuant to Section 12(g) of the Act:
None
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
Yes X No
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<PAGE>
PART I
ITEM 1 BUSINESS.
Not applicable.
ITEM 2 PROPERTIES.
Not applicable.
ITEM 3 LEGAL PROCEEDINGS.
None.
ITEM 4 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
No matter was submitted to a vote of security holders during
the period covered by this report through the solicitation of
proxies or otherwise.
PART II
ITEM 5 MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER
MATTERS.
(a) There is no established trading market for the
Certificates.
(b) There are approximately 52 holders of record as of
the end of the reporting year.
ITEM 6 SELECTED FINANCIAL DATA.
Not applicable.
ITEM 7 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS
AND RESULTS OF OPERATIONS.
Not applicable.
ITEM 8 FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.
Not applicable.
<PAGE>
ITEM 9 CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
AND FINANCIAL DISCLOSURE.
None.
PART III
ITEM 10 DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT.
Not applicable.
ITEM 11 EXECUTIVE COMPENSATION.
Not applicable.
ITEM 12 SECURITY OWNERSHIP OF CERTAIN OWNERS AND MANAGEMENT.
The following table provides information, as of the end of the
reporting year with respect to the ownership by each person or group of persons,
known by the Registrant to be a record owner of 5% or more of each class of the
1996-6 Series of Certificates. This does not reflect the persons who hold their
certificates in nominee or "street" name.
Except as set forth below, the Registrant is not aware of any
record owner of more than 5% of the Certificates as of the end of the reporting
year.
<TABLE>
<CAPTION>
Percent of Class of
Principal Amount of Certificates Outstanding (by
Series and Class Certificates Owned aggregate principal balance
of Certificates Name and Address of Record or Percentage Interest)
--------------- ---------------- --------- -----------------------
<S> <C> <C> <C>
1996-6
Class 6A-A1 Custodial Trust Company $17,978,000 100.00%
101 Carnegie Center
Princeton, New Jersey 08540
Class 6A-A2 Morgan Stanley & Co. Incorporated $17,978,000 100.00%
One Pierrepont Plaza
7th Floor
Brooklyn, New York 11201
Class 6B-A1 Boston Safe Deposit and $1,700,000 8.09%
Trust Compny
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, Pennsylvania 15259
<PAGE>
Class 6B-A1 Industrial Bank of Japan Trust $1,700,000 8.09%
Company
245 Park Avenue
New York, New York 10167
Class 6B-A1 PNC Bank, National Association $11,806,105 56.20%
1835 Market Street
11 Penn Center, 15th Floor
Philadelphia, Pennsylvania 19103
Class 6B-A1 SSB-Custodian $3,800,000 18.09%
Global Corp. Action Dept.
P.P. Box 1631
Boston, Massachusetts 02105-1631
Class 6B-A2 Morgan Stanley & Co. Incorporated $21,006,105 100.00%
One Pierrepont Plaza
7th Floor
Brooklyn, New York 11201
Class 6C-A1 Brown Brothes Harriman & Co. $1,000,000 10.91%
63 Wall Street, 8th Floor
New York, New York 10005
Class 6C-A1 PNC Bank, National Association $6,000,000 6.54%
1835 Market Street
11 Penn Center, 15th Floor
Philadelphia, Pennsylvania 19103
Class 6C-A1 SSB-Custodian $2,168,033 23.65%
Global Corp. Action Dept.
P.P. Box 1631
Boston, Massachusetts 02105-1631
Class 6C-A2 Morgan Stanley & Co. Incorporated $9,168,033 100.00%
One Pierrepont Plaza
7th Floor
Brooklyn, New York 11201
Class 6D-A1 Bank of New York $3,300,000 14.81%
925 Patterson Plank Road
Secaucus, New Jersey 07094
Class 6D-A1 Boston Safe Deposit and Trust $3,000,000 13.46%
Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, Pennsylvania 15259
<PAGE>
Class 6D-A1 Chase Manhattan Bank $9,782,195 43.90%
4 New York Plaza
13th Floor
New York, New York 10004
Class 6D-A1 Chase Manhattan Bank/Chemical $1,700,000 7.63%
4 New York Plaza
Proxy Department - 13th Floor
New York, New York 10004
Class 6D-A1 Mercantile Bank of St. Louis $1,200,000 5.39%
National Association Bond
P.O. Box 349
St. Louis, Missouri 63166
Class 6D-A1 Northern Trust Company $2,300,000 10.32%
801 S. Canal C-In
Chicago, Illinois 60607
Class 6D-A2 Morgan Stanley & Co. Incorporated $22,282,195 100.00%
One Pierrepont Plaza
7th Floor
Brooklyn, New York 11201
Class 6E-A1 Bear, Stearns Securities Corp. $5,885,000 23.03%
One Metrotech Center North
4th Floor
Brooklyn, New York 11201-3862
Class 6E-A1 Custodial Trust Company $16,664,386 65.22%
101 Carnegie Center
Princeton, New Jersey
Class 6E-A1 LTCB Trust Company $3,000,000 11.74%
165 Broadway
New York, New York 10006
Class 6E-A2 Morgan Stanley & Co. Incorporated $25,549,386 100.00%
One Pierrepont Plaza
7th Floor
Brooklyn, New York 11201
Class 6F-A1 Chase Manhattan Bank $13,519,704 100.00%
4 New York Plaza
13th Floor
New York, New York 10004
Class 6F-A2 Morgan Stanley & Co. Incorporated $13,519,704 100.00%
One Pierrepont Plaza
7th Floor
Brooklyn, New York 11201
<PAGE>
Class 6G-A1 Boston Safe Deposit and $1,800,000 9.63%
Trust Compny
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, Pennsylvania 15259
Class 6G-A1 Chase Manhattan Bank $1,000,000 5.35%
4 New York Plaza
13th Floor
New York, New York 10004
Class 6G-A1 Industrial Bank of Japan Trust $1,800,00 9.63%
Company
245 Park Avenue
New York, New York 10167
Class 6G-A1 PNC Bank, National Association $10,228,491 55.05%
1835 Market Street
11 Penn Center, 15th Floor
Philadelphia, Pennsylvania 19103
Class 6G-A1 SSB-Custodian $2,800,000 14.98%
Global Corp. Action Dept.
P.P. Box 1631
Boston, Massachusetts 02105-1631
Class 6G-A2 Morgan Stanley & Co. Incorporated $18,688,491 100.00%
One Pierrepont Plaza
7th Floor
Brooklyn, New York 11201
Class 6H-A1 Commercial Bank $7,368,378 83.09%
Detroit, Michigan 48275-3530
Class 6H-A1 SSB-Custodian $1,500,000 16.91%
Global Corp. Action Dept.
P.P. Box 1631
Boston, Massachusetts 02105-1631
Class 6I-A1 Chase Manhattan Bank $16,772,687 100.00%
4 New York Plaza
13th Floor
New York, New York 10004
Class 6J-A1 Boston Safe Deposit and $1,282,569 10.00%
Trust Compny
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, Pennsylvania 15259
<PAGE>
Class 6J-A1 Chase Manhattan Bank $641,285,000 5.00%
4 New York Plaza
13th Floor
New York, New York 10004
Class 6J-A1 Goldman Sachs Trust Company $2,565,140 20.00%
One New York Plaza
45th Floor
New York, New York 10004
Class 6J-A1 Nomura Securities/Fixed Income $641,285 5.00%
2 World Financial Center
Bldg. B
New York, New York 10281-1198
Class 6J-A1 SSB-Custodian $7,695,416 60.00%
Global Corp. Action Dept.
P.P. Box 1631
Boston, Massachusetts 02105-1631
Class 6K-A1 Toyo Trust Company of New York $2,458,000 100.00%
280 Park Avenue
39th Floor - West Bldg.
New York, New York 10017
Class 6K-A2 Bankers Trust Company $9,056,606 64.43%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, Tennessee 37211
Class 6K-A2 SSB-Custodian $5,000,000 35.57%
Global Corp. Action Dept.
P.P. Box 1631
Boston, Massachusetts 02105-1631
Class 6K-A3 SSB-Custodian $401,386 100.00%
Global Corp. Action Dept.
P.P. Box 1631
Boston, Massachusetts 02105-1631
Class 6K-A4 SSB-Custodian $14,505,000 100.00%
Global Corp. Action Dept.
P.P. Box 1631
Boston, Massachusetts 02105-1631
</TABLE>
ITEM 13 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.
Not applicable.
<PAGE>
ITEM 14 EXHIBITS, FINANCIAL STATEMENTS SCHEDULES AND REPORTS ON FORM
8-K.
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
No annual report, proxy statement, form of proxy or other
soliciting material has been sent to Certificateholders, and the Registrant does
not contemplate sending any such materials subsequent to
the filing of this report.
<PAGE>
SIGNATURES
Subject to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.
SALOMON BROTHERS MORTGAGE
SECURITIES VII, INC.
(Registrant and as Depositor)
By:/s/ Gregory P. Petroski
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Gregory P. Petroski
Assistant Secretary
Date: March 25, 1998
Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed by the following persons and in the capacities and
on the date indicated.
SIGNATURE CAPACITY DATE
/s/ Gregory P. Petroski* Director and President March 25, 1998
- ---------------------- (Principal Executive Officer)
Thomas G. Maheras
/s/ Gregory P. Petroski* Treasurer (Principal March 25, 1998
- ----------------------- Financial and Principal
Thomas W. Jasper Accounting Officer)
/s/ Gregory P. Petroski* Director and March 25, 1998
- ----------------------- Vice President
Jeffrey A. Perlowitz
/s/ Gregory P. Petroski* Director and Assistant March 25, 1998
- ----------------------- Secretary
Gregory P. Petroski
*By: /s/ Gregory P. Petroski
------------------------------
Gregory P. Petroski
Attorney-in-fact
