SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report: October 27 , 1999
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(Date of earliest event reported)
ASSET SECURITIZATION CORPORATION,
COMMERCIAL MORTGAGE ASSET TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1999-C2
(Exact name of registrant as specified in its charter)
Delaware 333-53859 13-3672337
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
Two World Financial Center, Building B, New York, New York 10281
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Address of Principal Executive Office
Registrant's telephone number, including area code: (212) 667-9300
<PAGE>
ITEM 5. OTHER EVENTS.
Attached as Exhibit 99.1 to this Current Report are certain
materials (the "Computational Materials") furnished to the Registrant by
Goldman, Sachs & Co., Nomura Securities International, Inc. and Donaldson,
Lufkin & Jenrette Securities Corporation (the "Underwriters"), the Underwriters
in respect of the Registrant's Commercial Mortgage Asset Trust, Commercial
Mortgage Pass-Through Certificates, Series 1999-C2 (the "Certificates"). The
Certificates are being offered pursuant to a Prospectus and related Prospectus
Supplement (together, the "Prospectus"), which will be filed with the Commission
pursuant to Rule 424(b)(5) under the Securities Act of 1933, as amended (the
"Act"). The Certificates have been registered pursuant to the Act under a
Registration Statement on Form S-3 (No. 333-53859) (the "Registration
Statement"). The Registrant hereby incorporates the Computational Materials by
reference in the Registration Statement.
The Computational Materials were prepared solely by the
Underwriters, and the Registrant did not prepare or participate in the
preparation of the Computational Materials.
Any statement or information contained in the Computational
Materials shall be deemed to be modified or superseded for purposes of the
Prospectus and the Registration Statement by statements or information contained
in the Prospectus.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits
Exhibit No. Description
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99.1 Computational Materials
<PAGE>
Pursuant to the requirements of the Securities Act of 1934,
the Registrant has duly caused this report to be signed on behalf of the
Registrant by the undersigned thereunto duly authorized.
ASSET SECURITIZATION CORPORATION
By: /s/ Brad Altberger
--------------------------------
Name: Brad Altberger
Title: Vice President
Date: October 27, 1999
<PAGE>
EXHIBIT INDEX
Exhibit No. Description Paper (P) or Electronic (E)
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99.1 Computational Materials E
[LOGO-NOMURA]
COMMERCIAL MORTGAGE ASSET TRUST, SERIES 1999-C2, Class CS1---Price/Yield
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
CUSIP Face $42,927,562.00 Settle at Pricing
Coupon 0.791147 Original Balance $42,927,562.00 Accrual begins 10/11/99
Delay 6 Current Balance $42,927,562.00 Factor Date N/A
Stated Maturity N/A Factor 1
Type SEN NTL FLT
</TABLE>
<TABLE>
<CAPTION>
Price 0 1 CDR 2 CDR 3 CDR
Yield
<S> <C> <C> <C> <C>
1-10 18.389 15.564 13.831 12.690
1-10+ 17.550 14.694 12.944 11.792
1-11 16.729 13.843 12.076 10.913
1-11+ 15.926 13.010 11.226 10.053
1-12 15.139 12.194 10.393 9.210
1-12+ 14.369 11.394 9.577 8.383
1-13 13.615 10.611 8.777 7.574
1-13+ 12.876 9.843 7.994 6.780
1-14 12.151 9.090 7.225 6.002
1-14+ 11.441 8.351 6.471 5.238
1-15 10.744 7.627 5.731 4.489
1-15+ 10.061 6.916 5.005 3.753
1-16 9.390 6.219 4.293 3.032
1-16+ 8.732 5.534 3.593 2.323
1-17 8.086 4.862 2.906 1.627
1-17+ 7.452 4.202 2.232 0.943
1-18 6.829 3.553 1.569 0.272
WAL 2.68 2.53 2.45 2.40
Mod Durn 1.48 1.43 1.40 1.38
Mod Convexity 0.041 0.037 0.036 0.034
Principal Window Nov99 to Nov04 Nov99 to Mar04 Nov99 to Nov03 Nov99 to Aug03
Maturity #mos 61 53 49 46
</TABLE>
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[LOGO-NOMURA]
Nomura Securities International, Inc.
ADDITIONAL INFORMATION IS AVAILABLE UPON REQUEST. The information contained
herein is based on sources Nomura Securities International, Inc. ("Nomura")
believes to be reliable. Nomura makes no representations or warranty such
information is accurate or complete. Nothing herein should be considered an
offer to sell or solicitation of an offer to buy any securities. All information
is hypothetical or preliminary and subject to change. No such information should
be viewed as projections, forecast, prediction or opinions. The same may be
based on assumptions which may or may not be accurate, and any such assumption
may differ from actual results. Prospective investors are advised to consult the
final prospectus, prospectus supplement, or private placement memorandum in
connection with their investments. Nomura and its affiliates may have a position
in the securities discussed herein and may purchase or sell the same on a
principal basis, or as agent for another person. In addition, Nomura and certain
of its affiliates may have acted as an underwriter of such securities, and may
currently be providing investment banking or other services to the issuers of
such securities and/or borrowers and their affiliates. Nomura Securities
International, Inc. Form No. 124
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<PAGE>
[LOGO-NOMURA]
COMMERCIAL MORTGAGE ASSET TRUST, SERIES 1999-C2, Class X---Price/Yield
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
CUSIP Face $775,180,294.27 Settle at Pricing
Coupon 0.641156 Original Balance $775,180,294.27 Accrual begins 10/11/99
Delay 6 Current Balance $775,180,294.27 Factor Date N/A
Stated Maturity N/A Factor 1
</TABLE>
Price 0 100 CPR 1 CDR 2CDR 3 CDR
Yield
3.07+ 12.297 12.220 11.274 10.184 8.995
3.08 12.192 12.114 11.168 10.077 8.886
3.08+ 12.088 12.010 11.063 9.970 8.777
3.09 11.984 11.907 10.958 9.864 8.670
3.09+ 11.882 11.804 10.855 9.760 8.563
3.10 11.780 11.702 10.752 9.655 8.457
3.10+ 11.679 11.601 10.650 9.552 8.352
3.11 11.579 11.501 10.549 9.450 8.248
3.11+ 11.480 11.402 10.448 9.348 8.145
3.12 11.381 11.303 10.349 9.247 8.042
3.12+ 11.284 11.205 10.250 9.147 7.941
3.13 11.187 11.108 10.152 9.048 7.840
3.13+ 11.090 11.012 10.055 8.950 7.740
3.14 10.995 10.916 9.958 8.852 7.641
3.14+ 10.900 10.822 9.862 8.755 7.542
3.15 10.806 10.727 9.767 8.659 7.444
3.15+ 10.712 10.634 9.673 8.563 7.347
WAL 10.61 10.52 9.95 9.65
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[LOGO-NOMURA]
Nomura Securities International, Inc.
ADDITIONAL INFORMATION IS AVAILABLE UPON REQUEST. The information contained
herein is based on sources Nomura Securities International, Inc. ("Nomura")
believes to be reliable. Nomura makes no representations or warranty such
information is accurate or complete. Nothing herein should be considered an
offer to sell or solicitation of an offer to buy any securities. All information
is hypothetical or preliminary and subject to change. No such information should
be viewed as projections, forecast, prediction or opinions. The same may be
based on assumptions which may or may not be accurate, and any such assumption
may differ from actual results. Prospective investors are advised to consult the
final prospectus, prospectus supplement, or private placement memorandum in
connection with their investments. Nomura and its affiliates may have a position
in the securities discussed herein and may purchase or sell the same on a
principal basis, or as agent for another person. In addition, Nomura and certain
of its affiliates may have acted as an underwriter of such securities, and may
currently be providing investment banking or other services to the issuers of
such securities and/or borrowers and their affiliates. Nomura Securities
International, Inc. Form No. 124
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