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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): January 1, 1999
Commission file number:
Receipts on Corporate Securities Trust,
Series FDX 1997-1
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(Exact name of Registrant as specified in its charter)
Delaware 31-0944462
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(State or other jurisdiction (I.R.S. Employer Identification No.)
of incorporation or organization)
One New York Plaza, 14th Floor, New York, NY 10292-2014
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 809-6631
N/A
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Former name, former address and former fiscal year, if changed since last
report.
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Item 1. Changes in Control of Registrant.
Not Applicable.
Item 2. Acquisition or Disposition of Assets.
Not Applicable.
Item 3. Bankruptcy or Receivership
Not Applicable.
Item 4. Changes in Registrant's Certifying Accountant.
Not Applicable.
Item 5. Other Events
On January 1, 1999 a cash distribution was made on the Receipts of Corporate
Securities Trust, Series FDX 1997-1, Amortizing Class. See attached Trustee's
Distribution Statement and Notice to the Holders (filed as Exhibit 20).
Item 6. Selected Financial Data.
Not Applicable.
Item 7. Financial Statements, Pro-Forma Financial Information and Exhibits.
(a) Not Applicable.
(b) Not Applicable.
(c) Exhibits.
20 The Trustee's Distribution Statement and Notice to the Holders
with respect to Item 5. is attached.
Item 7a. Quantitative and Qualitative Disclosures About Market Risk.
Not Applicable.
Item 8. Financial Statements and Supplementary Data.
Not Applicable.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Prudential Securities Structured Assets, Inc.
By: /s/ Jeffrey J. Theodorou Date: January 29, 1999
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Jeffrey J. Theodorou
President
Receipts on Corporate Securities Trust, Series FDX 1997-1
By: Prudential Securities Structured
Assets, Inc. Date: January 29, 1999
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By: /s/ Jeffrey J. Theodorou Date: January 29, 1999
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Jeffrey J. Theodorou
President
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Trustee's Distribution Statement
THE TO THE HOLDERS OF:
BANK OF Prudential Securities Structured Assets, Inc.
NEW Receipts on Corporate Securities, Series FDX 1997-1
YORK
In accordance with Article IV, Section 4.2 of the Base Trust Agreement
dated as of August 28, 1997, The Bank of New York, as Trustee, submits
the following cash basis statement for the period ending January 1, 1999.
With regard to the January 1, 1999 Distribution Date:
The amount of principal distribution is $534,630.43 and interest is
$1,441,369.57.
The aggregate stated principal amount of the Term Assets are
$52,000,000.00 at 7.6%.
The aggregate Certificate Principal Balance is $40,647,357.19.
Underlying Securities held as of January 1, 1999.
Principal Amount Title of Security
$52,000,000.00 FEDERAL EXPRESS CORPORATION
("FDX")
$52,000,000 Aggregate Principal Amount of
7.60% Notes Due July 1, 2097
THE BANK OF NEW YORK,
as Trustee
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NOTICE TO THE HOLDERS OF
Prudential Securities Structured Assets Inc.
Receipts on Corporate Securities, Series FDX 1997-1
This is to advise you that the January 1, 1998, July 1, 1998 and
January 1, 1999 payments were incorrectly reflected as Interest Payments
when in fact they were Principal and Interest Payments. Following are
the correct factors with regard to these payments so that you may
amend your records accordingly:
January 1, 1998
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Interest Principal
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Factor @ $100,000 $ 3,500 Factor @ $100,000: $1,182.72833
July 1, 1998
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Interest Principal
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Factor @ $100,000 $ 3,500.000007 Factor @ $100,000: $ 1,238.775159
January 1, 1999
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Interest Principal
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Factor @ $100,000 $ 3,500.000007 Factor @ $100,000: $ 1,298.214245
By: The Bank of New York,
as Trustee
Dated: January 14, 1999
