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): July 22, 1998
LEHMAN ABS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 333-39649 13-3447441
(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
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code: (212) 526-7000
<PAGE>
Item 5. Other Events.
Incorporation of Certain Documents by Reference.
In connection with the offering of the BankBoston Home Equity Loan
Asset-Backed Certificates, Series 1998-1 (the "Certificates") by Lehman ABS
Corporation (the "Company") and pursuant to Rule 411 of Regulation C under the
Securities Act of 1933 and in reliance on MBIA Insurance Corporation, SEC
No-Action Letter (September 6, 1996), the Company will incorporate by reference
the financial statement of MBIA Insurance Corporation ("MBIA") into the
Company's registration statement (File No. 333-39649). The financial statements
will be referred to in the preliminary prospectus supplement relating to
BankBoston Home Equity Loan Asset-Backed Certificates, Series 1998-1. In
connection with the incorporation of such documents by reference, the Company is
hereby filing the consent of PricewaterhouseCoopers LLP
("PricewaterhouseCoopers") to the use of their name in such preliminary
prospectus supplement. The consent of PricewaterhouseCoopers is attached hereto
as Exhibit 23.
<PAGE>
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
23. Consent of PricewaterhouseCoopers.
<PAGE>
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 P. Harding
-----------------------
Name: Martin P. Harding
Title: Managing Director
Dated: July 21, 1998
<PAGE>
Exhibit Index
Exhibit Page
23. The Consent of PricewaterhouseCoopers 6
<PAGE>
EXHIBIT 23: CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in the Prospectus Supplement of
BankBoston Home Equity Loan Trust 1998-1, of our report dated February 3, 1998,
on our audits of the consolidated financial statements of MBIA Insurance
Corporation and Subsidiaries as of December 31, 1997 and 1996 and for each of
the three years in the period ended December 31, 1997. We also consent to the
reference to our firm under the caption "Experts".
\s\ PricewaterhouseCoopers LLP
------------------------------
PricewaterhouseCoopers LLP
New York, New York
July 21, 1998
