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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A Amendment #1
(Mark One)
/X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the fiscal year ended December 31, 1999
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 number 333-63461 and 333-63463
Receipts on Corporate Securities Trust,
Series BNSF 1998-1
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(Exact name of Registrant as specified in its charter)
Delaware 31-0944462
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(State or other jurisdiction of
incorporation or organization) (I.R.S. Employer Identification No.)
One New York Plaza, 14th Floor, New York, N.Y. 10292-2014
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 809-6631
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class Name of Each Exchange on which Registered
None Not applicable
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Securities registered pursuant to Section 12(g) of the Act:
None
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(Title of class)
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 _ No CK
State the aggregate market value of the voting and non-voting common equity
held by non-affiliates of the registrant. The aggregate market value shall
be computed by reference to the price at which the common equity was sold,
or the average bid and asked price of such common equity, as of a specified
date within 60 days prior to the date of filing. (See definition of affiliate
in Rule 405.) NONE
Indicate the number of shares outstanding of each of the registrant's
classes of common stock, as of the latest practicable date. NONE
DOCUMENTS INCORPORATED BY REFERENCE
On February 1, 1999 and August 1, 1999 cash distributions were made on
the Receipts of Corporate Securities Trust, Series BNSF 1998-1, Amortizing
Class. See Part IV, Item 14.3 and attached Trustee's Distribution Statements.
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The Form 8-K for the February 1, 1999 Distribution had not been
previously filed. The February 1, 1999 Distribution is disclosed in
Part IV, Item 14.3. of this Form 10-K and the Trustee's Distribution
Statement is enclosed herewith as part of Exhibit 20.
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PART I
Item 1. Business.
Not applicable.
Item 2. Properties.
Not applicable.
Item 3. Legal Proceedings.
Not applicable.
Item 4. Submission of Matters to a Vote of Security Holders.
Not applicable.
1
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PART II
Item 5. Market for Registrant's Common Equity and Related Stockholder
Matters.
(a) There is no established public trading market for the Certificates.
(b) At December 31, 1999, the number of holders of record of Certificates
was as follows:
Certificates Number of Holders of Record
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Series BNSF 1998-1
Amortizing class 11
Residual class 1
Item 6. Selected Financial Data.
Not applicable.
Item 7. Management's Discussion and Analysis of Financial Conditions and
Results of Operations.
Not applicable.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
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.
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PART III
Item 12. Security Ownership of Certain Beneficial Owners and Management
Set forth below is certain information with respect to each holder of
record for each class of the Series BNSF 1998-1 Certificates at December
31, 1999:
<TABLE>
<CAPTION>
Name and Address Number of Percent of
Class of Holder Certificates Held Certificates Held*
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<C> <S> <C> <C>
Amortizing Auer & Co. 1 4%
PO Box 998 Bowling Green Station
ATTN: Private Placement Unit
New York, NY 10024
ELL & Co 1 4%
c/o Northern Trust Co
PO Box 92395
a/c 26-38144
Chicago, IL 60675
ELL & Co 1 4%
c/o Northern Trust Co
PO Box 92395
a/c 26-38146
Chicago, IL 60675
Gerlach & Co. 6 25%
c/o Citibank NA
PO Box 7247-7057
Attn: Judy Rock, Cusip #86357MBH1
Philidelphia, PA 19170-7057
Sigler & Co. 1 4%
C/O Chase Manhattan Bank
4 NEW YORK PLAZA 13 FL.
ATTN JOE PIPERATO
NEW YORK, NY 10004
Hare & Co. 1 4%
c/o The Bank of New York
PO Box 11203
Attn: Bill Cashman
New York, NY 10249
Hare & Co. 2 8%
c/o The Bank of New York
90 Washington St Attn: P & I Dept.
New York, NY 10286
Long Deck & Co. 3 13%
c/o State Street Bank
PO Box 5756
a/c 08183-23AM1A
Boston, MA 02206
MAC & Co. 1 4%
PO Box 3195
Cost Center 1253
Pittsburgh, PA 15230-3195
UMBTRU & Co. 2 8%
c/o Trust Department
United Missouri Bank, NA
PO Box 419260
Kansas City, MO 64141
3
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STATELY & CO 5 22%
C/O CITIBANK, NA
IC & D LOCKBOX
PO BOX 7247-7057
PHILIDELPHIA, PA 19170-7057
Residual Cudd & Co. 3 100%
c/o Chase Manhattan Bank
PO Box 1508 Church Street Station
New York, NY 10008
* Amounts rounded to the nearest percent.
</TABLE>
Item 13. Certain Relationships and Related Transactions.
None.
PART IV
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K
1. All Financial Statements.
Not applicable.
2. Financial statement schedules required by Item 8 of this
Form.
Not applicable.
3. See attached Trustee's Distribution Statements for the
February 1, 1999 and August 1, 1999 cash distributions. (filed
as Exhibit 20).
4
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SIGNATURES
Pursuant to the requirements of Securities Exchange Act of 1934,
this report has been signed below by the following persons on behalf of
the registrant in the capacities and on the dates indicated.
Prudential Securities Structured Assets, Inc.
By: /s/ Lawrence Motz Date: January 29, 2000
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Lawrence Motz
Vice President
Receipts on Corporate Securities Trust, Series BNSF 1998-1
By: Prudential Securities Structured
Assets, Inc. Date: January 29, 2000
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By: /s/ Lawrence Motz Date: January 29, 2000
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Lawrence Motz
Vice President
5
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Trustee's Distribution Statement
THE THE HOLDERS OF:
BANK OF Prudential Securities Structured Assets, Inc.
NEW Receipts on Corporate Securities, Series NSC 1998-1
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
February 1, 1999.
With regard to the February 1, 1999 Distribution Date:
The amount of principal distribution is $806,393.44 and interest
is $1,912,356.56.
The aggregate stated principal amount of the Term Assets
are $75,000,000.00 at 7.25%.
The aggregate Certificate Principal Balance is $58,035,346.97.
Underlying Securities held as of February 1, 1999.
Principal Amount Title of Security
$75,000,000.00 BURLINGTON NORTHERN SANTA FE
CORPORATION ("BNSF")
$75,000,000 Aggregate Principal Amount of
7.25% Debentures Due August 1, 2097
THE BANK OF NEW YORK,
as Trustee
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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 BNSF 1998-1
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
August 1, 1999.
With regard to the August 1, 1999 Distribution Date:
The amount of principal distribution is $832,601.22 and interest is
$1,886,148.78.
The aggregate stated principal amount of the Term Assets are
$75,000,000.00 at 7.25%.
The aggregate Certificate Principal Balance is $57,202,745.75.
Underlying Securities held as of August 1, 1999.
Principal Amount Title of Security
$75,000,000.00 BURLINGTON NORTHERN SANTA FE
CORPORATION ("BNSF")
$75,000,000 Aggregate Principal Amount of
7.25% Debentures Due August 1, 2097
THE BANK OF NEW YORK,
as Trustee
