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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
Annual Report Pursuant to Sections 13 or 15(d)
of the Securities Exchange Act of 1934
For Fiscal Year Ended: Commission file number:
December 31, 1998 033-73438-06
S&P-Linked Investment Trust Certificates Series 1997-SP-1 Trust
(Exact name of registrant as specified in its charter)
Lehman ABS Corporation is the depositor under the Standard Terms for Trust
Agreements, dated as of February 28, 1996, as supplemented by a Series
Supplement, dated as of August 29, 1997, which together formed the S&P-Linked
Investment Trust Certificates Series 1997-SP-1 Trust.
I.R.S. Employer Identification Number: 13-7135735
The Bank of New York, as Trustee
101 Barclay Street, Floor 12 East
New York, New York 10286
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (212) 815-5098
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 .
Indicate by check mark if disclosure of delinquent filers
pursuant to Item 405 of Regulation S-K is not contained herein, and will not be
contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by refer-
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ence in Part III of this Form 10-K or any amendment to this Form 10-K. X.
Aggregate market value of the voting and non-voting common equity
held by non-affiliates of the Registrant as of December 31, 1998: Not
Applicable.
Number of shares of common stock outstanding as of December 31,
1998: Not Applicable.
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INTRODUCTORY NOTE
Lehman ABS Corporation (the "Depositor") is the depositor under the Standard
Terms for Trust Agreements, dated as of February 28, 1996, as supplemented by a
Series Supplement, dated as of August 29, 1997, by and between the Depositor and
The Bank of New York, a New York banking corporation, as trustee (the
"Trustee"), which together formed the S&P-Linked Investment Trust Certificates
Series 1997-SP-1 Trust (the "Trust" or the "Registrant"), and which provided for
the issuance of the SPLITS(TM) S&P-Linked Investment Trust Certificates, Series
1997-SP-1 (the "Certificates"). The Certificates do not represent obligations of
or interests in the Depositor. Pursuant to staff administrative positions
established in various no-action letters, Registrant is not required to respond
to various items of Form 10-K. Such items are designated herein as "Not
Applicable."
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.
None
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters.
(a) Market Information: Not Applicable. To the best knowledge of the Trustee,
there is no established public trading market for the Certificates.
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(b) Holders: The Certificates issued by the Trust representing investors'
interest in the Trust are represented by one or more physical Certificates
registered in the name of Cede & Co., the nominee of The Depository Trust
Company.
(c) Dividends: Not Applicable.
Item 6. Selected Financial Data.
Not Applicable
Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations.
Not Applicable
Item 7A. Quantitative and Qualitative Disclosures About Market
Risk.
Not Applicable
Item 8. Financial Statements and Supplementary Data.
None. No distributions have been made to Certificate Holders.
Item 9. Changes in and Disagreements 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 Beneficial Owners and
Management.
(a) Not Available
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(b) Not Applicable
(c) Not Applicable
Item 13. Certain Relationships and Related Transactions.
(a) None
(b) None
(c) Not Applicable
(d) Not Applicable
PART IV
Item 14. Exhibits, Financial Statement Schedules and Reports
on Form 8-K.
(a) None
(b) None
(c) None
(d) Not Applicable
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Trustee has duly caused this report to be signed on behalf of the
Trust by the undersigned, thereunto duly authorized.
Date: July 13, 2000
THE BANK OF NEW YORK AS TRUSTEE, FOR S&P-LINKED
INVESTMENT TRUST CERTIFICATES SERIES 1997-SP-1
TRUST
By:/s/ Enrico D. Reyes
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Enrico D. Reyes
Vice President
