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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
March 1, 2000
Date of report (Date of earliest event reported)
Lehman ABS Corporation is the depositor under the Standard Terms for Trust
Agreements, dated as of February 25, 1998, as supplemented by the Series
Supplement, dated as of March 30, 1998, which together formed the Corporate
Bond-Backed Certificates, Series 1998-CAT-1.
LEHMAN ABS CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Delaware 333-32105 13-3447441
(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number) Identification No.)
Three World Financial Center 10285
200 Vesey Street (Zip Code)
New York, New York
(Address of Principal Executive Offices)
(212) 526-5594
(Registrant's Telephone Number,
Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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Item 5. OTHER EVENTS
On September 1, 1998, March 1, 1999, September 1999 and March 1, 2000
distributions were made to the Holders of the Corporate Bond-Backed
Certificates, Series 1998-CAT-1 (the "Certificate Holders"). Specific
information with respect to the distributions are filed as Exhibits 99.1 through
99.5 hereto.
No other reportable transactions or matters have occurred during the current
reporting period.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) The following exhibits were filed as part of this report:
99.1 Trustee's Distribution Statement to the Certificate Holders for the
six-month period ending September 1, 1998.
99.2 Trustee's Distribution Statement to the Certificate Holders for the
six-month period ending March 1, 1999.
99.3 Trustee's Distribution Statement to the Certificate Holders for the
six-month period ending September 1, 1999.
99.4 Trustee's Distribution Statement to the Certificate Holders for the
six-month period ending March 1, 2000.
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SIGNATURE
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 thereunto duly authorized.
Date: May 26, 2000
THE BANK OF NEW YORK
AS TRUSTEE, FOR
CORPORATE BOND-BACKED
CERTIFICATES, SERIES
1998-CAT-1 TRUST
By: /s/ Enrico D. Reyes
---------------------------
Enrico D. Reyes
Vice President
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EXHIBIT INDEX
Exhibit Number Description
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99.1 Trustee's Distribution Statement to the Certificate
Holders for the six-month period ending September 1, 1998.
99.2 Trustee's Distribution Statement to the Certificate
Holders for the six-month period ending March 1, 1999.
99.3 Trustee's Distribution Statement to the Certificate
Holders for the six-month period ending September 1, 1999.
99.4 Trustee's Distribution Statement to the Certificate
Holders for the six-month period ending March 1, 2000.
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Exhibit 99.1
TRUSTEE'S DISTRIBUTION STATEMENT
TO THE HOLDERS OF: 98-CAT-1
The Bank of New York, as Trustee under the
Lehman Corporate Bond Backed
Class A-1 Certificates
CUSIP NUMBER: 219-87H-AQ8
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in accordance with the Standard Terms and Conditions of Trust, The Bank of New York,
as trustee submits the following cash basis statement for the period ending : September 1, 1998
INTEREST ACCOUNT
Balance as of March 31, 1998 0
Schedule Income received on securities.................................... 1843750
Unscheduled Income received on securities................................. 0
Schedule Interest received from Swap Counterparty......................... 0
Unscheduled Interest received from Swap Counterparty...................... 0
Interest Received on sale of Securties.................................... 0
LESS:
Distribution to Beneficial Holders........................................ 1328606
Distribution to Swap Counterparty......................................... 0
Trustee Fees.............................................................. 2250
Fees allocated for third party expenses............................ 750
Balance as of February 2, 1998 Subtotal 512144
PRINCIPAL ACCOUNT
Balance as of August 1, 1998 0
Scheduled Principal payment received on securities........................ 0
Principal received on sale of securities.................................. 0
LESS:
Distribution to Beneficial Holders........................................ 512144
Distribution to Swap Counterparty......................................... 0
Balance as of February 2, 1998 Subtotal 512144
Balance 0
UNDERLYING SECURITIES HELD AS OF: February 2, 1998
Principal Title of Security
Amount CATERPILLAR INC
5000000 CUSIP# : 149-123-BE0
</TABLE>
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Exhibit 99.2
TRUSTEE'S DISTRIBUTION STATEMENT
TO THE HOLDERS OF: 98-CAT-1
The Bank of New York, as Trustee under the
Lehman Corporate Bond Backed
Class A-1 Certificates
CUSIP NUMBER: 219-87H-AQ8
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<S> <C> <C>
in accordance with the Standard Terms and Conditions of Trust, The Bank of New York,
as trustee submits the following cash basis statement for the period ending : March 1, 1999
INTEREST ACCOUNT
Balance as of September 1, 1998 0
Schedule Income received on securities.................................... 1843750
Unscheduled Income received on securities................................. 0
Schedule Interest received from Swap Counterparty......................... 0
Unscheduled Interest received from Swap Counterparty...................... 0
Interest Received on sale of Securties.................................... 0
LESS:
Distribution to Beneficial Holders........................................ 1311961
Distribution to Swap Counterparty......................................... 0
Trustee Fees.............................................................. 2250
Fees allocated for third party expenses............................ 750
Balance as of March 1, 1999 Subtotal 528789
PRINCIPAL ACCOUNT
Balance as of September 1, 1998 0
Scheduled Principal payment received on securities........................ 0
Principal received on sale of securities.................................. 0
LESS:
Distribution to Beneficial Holders........................................ 528789
Distribution to Swap Counterparty......................................... 0
Balance as of March 1, 1999 Subtotal 528789
Balance 0
UNDERLYING SECURITIES HELD AS OF: March 1, 1999
Principal Title of Security
Amount CATERPILLAR INC
5000000 CUSIP# : 149-123-BE0
</TABLE>
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Exhibit 99.3
TRUSTEE'S DISTRIBUTION STATEMENT
The Bank of New York, as Trustee under
the Lehman Corporate Bond Backed Class
A-1 Certificates
CUSIP NUMBER: 219-87H-AQ8
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<S> <C> <C>
in accordance with the Standard Terms and Conditions of Trust, The Bank of New York,
as trustee submits the following cash basis statement for the period ending : September 1, 1999
INTEREST ACCOUNT
Balance as of March 1, 1999 0
Schedule Income received on securities.................................... 1843750
Unscheduled Income received on securities................................. 0
Schedule Interest received from Swap Counterparty......................... 0
Unscheduled Interest received from Swap Counterparty...................... 0
Interest Received on sale of Securties.................................... 0
LESS:
Distribution to Beneficial Holders........................................ 1294775
Distribution to Swap Counterparty......................................... 0
Trustee Fees.............................................................. 2250
Fees allocated for third party expenses................................... 750
Balance as of September 1, 1999 Subtotal 545975
PRINCIPAL ACCOUNT
Balance as of March 1, 1999 0
Scheduled Principal payment received on securities........................ 0
Principal received on sale of securities.................................. 0
LESS:
Distribution to Beneficial Holders........................................ 545975
Distribution to Swap Counterparty......................................... 0
Balance as of September 1, 1999 Subtotal 545975
Balance 0
UNDERLYING SECURITIES HELD AS OF: September 1, 1999
</TABLE>
Principal Title of Security
Amount CATERPILLAR INC
5000000 CUSIP# : 149-123-BE0
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Exhibit 99.4
TRUSTEE'S DISTRIBUTION STATEMENT
TO THE HOLDERS OF: 98-CAT-1
The Bank of New York, as Trustee under the
Lehman Corporate Bond Backed
Class A-1 Certificates
CUSIP NUMBER: 219-87H-AQ8
<TABLE>
<S> <C> <C>
in accordance with the Standard Terms and Conditions of Trust, The Bank of New York,
as trustee submits the following cash basis statement for the period ending : March 1, 2000
INTEREST ACCOUNT
Balance as of September 1, 1999 0
Schedule Income received on securities.................................... 1843750
Unscheduled Income received on securities................................. 0
Schedule Interest received from Swap Counterparty......................... 0
Unscheduled Interest received from Swap Counterparty...................... 0
Interest Received on sale of Securties.................................... 0
LESS:
Distribution to Beneficial Holders........................................ 1277031
Distribution to Swap Counterparty......................................... 0
Trustee Fees.............................................................. 2250
Fees allocated for third party expenses............................ 750
Balance as of March 1, 2000 Subtotal 563719
PRINCIPAL ACCOUNT
Balance as of September 1, 1999 0
Scheduled Principal payment received on securities........................ 0
Principal received on sale of securities.................................. 0
LESS:
Distribution to Beneficial Holders........................................ 563719
Distribution to Swap Counterparty......................................... 0
Balance as of March 1, 2000 Subtotal 563719
Balance 0
UNDERLYING SECURITIES HELD AS OF: March 1, 2000
Principal Title of Security
Amount CATERPILLAR INC
5000000 CUSIP# : 149-123-BE0
</TABLE>
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