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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): September 12, 1996
LEHMAN ABS CORPORATION, (as depositor under the Pooling
and Servicing Agreement, dated as of August 31, 1996, which forms
Delta Funding Home Equity Loan Trust 1996-2, which will issue the
Delta Funding Home Equity Loan Trust 1996-2, Home Equity Loan Asset-Backed
Certificates, Series 1996-2).
LEHMAN ABS CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 333-3391 13-3447441
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
Three World Financial Center
200 Vesey Street
New York, New York 10022
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (212) 526-7000
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Item 5. Other Events.
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Filing of Derived Materials.*
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Pursuant to Rule 424(b) under the Securities Act of 1933,
concurrently with, or subsequent to, the filing of this Current
Report on Form 8-K ("the Form 8-K"), Lehman ABS Corporation (the
"Company") is filing a prospectus and prospectus supplement with
the Securities and Exchange Commission in relation to its Home
Equity Loan Asset-Backed Certificates, Series 1996-2.
In connection with the offering of the Delta Funding Home
Equity Loan Trust 1996-2, Home Equity Loan Asset-Backed
Certificates, Series 1996-2, Lehman Brothers Inc. ("Lehman
Brothers"), Greenwich Capital Markets, Inc. ("Greenwich Capital")
and Prudential Securities Incorporated ("Pru Securities" and,
together with Lehman Brothers and Greenwich Capital, the
"Underwriters") as Underwriters of the Certificates, have prepared
certain materials (the "Derived Materials") for distribution to its
potential investors. Although the Company provided the
Underwriters with certain information regarding the characteristics
of the Loans in the related portfolio, it did not participate in
the preparation of the Derived Materials.
For purposes of this Form 8-K, Derived Materials shall mean
computer generated tables and/or charts displaying, with respect to
the Certificates, any of the following: yield; average life,
duration; expected maturity; interest rate sensitivity; loss
sensitivity; cash flow characteristics; background information
regarding the Loans; the proposed structure; decrement tables; or
similar information (tabular or otherwise) of a statistical,
mathematical, tabular or computational nature. The Derived
Materials of Lehman Brothers are attached hereto as Exhibit 99.1.
The Derived Materials of Greenwich Capital are attached hereto as
Exhibit 99.2. The Derived Materials of Pru Securities are attached
hereto as Exhibit 99.3.
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* Capitalized terms used and not otherwise defined herein shall have the
meanings assigned to them in the Prospectus and the Prospectus Supplement of
Lehman ABS Corporation, relating to its Delta Funding Home Equity Loan Trust
1996-2, Home Equity Loan Asset-Backed Certificates, Series 1996-2.
Item 7. Financial Statements, Pro Forma Financial
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Information and Exhibits.
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(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
P 99.1. The Derived Materials of Lehman Brothers.
[Filed on Form SE dated September 16, 1996].
P 99.2. The Derived Materials of Greenwich Capital.
[Filed on Form SE dated September 16, 1996].
P 99.3. The Derived Materials of Pru Securities.
[Filed on Form SE dated September 16, 1996].
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
LEHMAN ABS CORPORATION
By: /s/ Martin Harding
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Martin Harding
Managing Director
Dated: September 16, 1996
Exhibit Index
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Exhibit Page
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