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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-K
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended: Commission file number:
December 31, 1997 33-55860
Tiers Asset-Backed Securities, Series CHAMT Trust 1997-7
(Issuer in respect of the TIERS(SM) Asset-Backed Securities,
Series CHAMT Trust 1997-7)
(Exact name of registrant as specified in its charter)
United States of America 52-6880113
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
c/o Delaware Trust Capital Management, Inc.
c/o Corestates Bank
FCS-4-2-6, 3 Beaver Valley Road
Wilmington, Delaware 19803
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code:
(302)-421-7307
Securities registered pursuant to Section 12(b) of the Act:
TIERS(SM) Asset-Backed Securities, Series CHAMT Trust 1997 Class A Notes
Securities registered pursuant to Section 12(g) of the Act:
None
Indicate by check mark whether the Registrant has (1) 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 __
State the aggregate market value of the voting stock held by non-affiliates of
the registrant.
The Registrant has no voting stock or class of common stock outstanding as of
the date of this report.
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Introductory Note
Series CHAMT Trust 1997-7 (the "Issuer") is the Issuer under the Series Trust
Indenture, dated as of September 15, 1997, incorporating the Standard Terms of
the Trust Indenture, dated as of Septenber 15, 1997 by and between the Issuer
and First Trust of New York, National Association, as Trustee (the "Trustee"),
providing for the issuance of the TIERS(SM) Asset-Backed Securities, Series
CHAMT Trust 1997 Class A Notes( the "Notes"). The Issuer was constituted
pursuant to TIERs Asset-Backed Securities, Series CHAMT 1997-7 Supplement ,
dated as of September 15, 1997, incorporating the Base Trust Agreement, dated as
of Spetember 15, 1997 by and between Structured Products Corp. and and Delaware
Trust Capital Management Inc.. The Notes do not represent obligations of or
interests in the Owner Trustee or Structured Products Corp. Pursuant to staff
administrative positions established in various no-action letters, see, e.g.,
Corporate Asset Backed Corporation ("CABCO") (available August 9, 1995); Lehman
Structured Assets, Inc. (available December 8, 1994), Owner Trustee 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
The Notes issued TIERS(SM) Asset-Backed Securities, Series
CHAMT Trust 1997 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.
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To the best knowledge of the registrant, there is no
established public trading market for the Notes.
Item 6. Selected Financial Data
Not Applicable
Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operations
Not Applicable
Item 8. Financial Statements and Supplementary Data
Not Applicable
Item 9. Changes In and Disagreements With Accountants On Accounting and
Financial Disclosure
None
Item 10. Directors and Executive Officers of the Registrant
Not Applicable
Item 11. Executive Compensation
Not Applicable
PART III
Item 12. Security Ownership Of Certain Beneficial Owners and Management
(a) Not Available
(b) Not Applicable
(c) Not Applicable
Item 13. Certain Relationships and Related Transactions
None
PART IV
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Item 14. Exhibits, Financial Statement Schedules, And Reports On Form 8-K
(a) The following documents are filed as part of this Report:
3. Exhibits:
28.01 TIERS(SM) Asset-Backed Securities, Series CHAMT
1997-7 File No. 33-55860) - No June 30 year end has occurred
since the inception of the trust. Therefore, no accountant's
report is attached.
(b) None
(c) See item 14(a)(3) above.
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SIGNATURES
Pursuant 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.
TIERS Asset-Backed Securities
Series CHAMT Trust 1997-7
By: Delaware Trust Capital Management, Inc.,
not in its individual capacity,
but solely as Owner Trustee on behalf of
TIERS Asset-Backed Securities,
Series CHAMT Trust 1997-7
By: /s/ Richard N. Smith
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Name: Richard N. Smith
Title: Vice President
Date: January 15, 1998
