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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
January 17, 2000
Date of Report (Date of Earliest Event Reported)
Lehman ABS Corporation (as depositor under the Standard Terms for Trust
Agreements, dated as of February 28, 1996, as supplemented by a Series
Supplement, dated as of December 16, 1997, which together formed the Corporate
Bond-Backed Certificates Trust, Series 1997-BellSouth-1, which issued Corporate
Bond Backed Certificates, Series 1997-BellSouth-1)
LEHMAN ABS CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Delaware 033-73438-13 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 January 15, 1998, July 15, 1998, January 15, 1999, July 15, 1999 and January
17, 2000, distributions were made to the Holders of the Corporate Bond Backed
Certificates, Series 1997-BellSouth-1 (the "Certificate Holders"). Specific
information with respect to the distributions is 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 January 15, 1998.
99.2 Trustee's Distribution Statement to the Certificate Holders for the
six-month period ending July 15, 1998.
99.3 Trustee's Distribution Statement to the Certificate Holders for the
six-month period ending January 15, 1999.
99.4 Trustee's Distribution Statement to the Certificate Holders for the
six-month period ending July 15, 1999.
99.5 Trustee's Distribution Statement to the Certificate Holders for the
six-month period ending January 17, 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 TRUST,
SERIES-1997-BELLSOUTH-1
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 January 15, 1998.
99.2 Trustee's Distribution Statement to the Certificate Holders
for the six-month period ending July 15, 1998.
99.3 Trustee's Distribution Statement to the Certificate Holders
for the six-month period ending January 15, 1999.
99.4 Trustee's Distribution Statement to the Certificate Holders
for the six-month period ending July 15, 1999.
99.6 Trustee's Distribution Statement to the Certificate Holders
for the six-month period ending January 17, 2000.
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Exhibit 99.1
TRUSTEE'S DISTRIBUTION STATEMENT
TO THE HOLDERS OF: 97-BELLSOUTH-1
The Bank of New York, as Trustee under the
Corporate Bonds Backed Certs. Z
Class A-1 Certificates
CUSIP NUMBER: 219-87H-AL9
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 : January 15, 1998
INTEREST ACCOUNT
Balance as of December 16, 1997 0
Schedule Income received on securities.................. 1285593
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.............. 1282593
Distribution to Swap Counterparty............... 0
Trustee Fees.................................... 2250
Fees allocated for third party expenses...... 750
Balance as of January 15, 1998 Subtotal 494407
PRINCIPAL ACCOUNT
Balance as of December 16, 1997 0
Scheduled Principal payment received on securities...... 494407
Principal received on sale of securities............. 0
LESS:
Distribution to Beneficial Holders.............. 494407
Distribution to Swap Counterparty............... 0
Balance as of January 15, 1998 Subtotal 0
Balance 0
UNDERLYING SECURITIES HELD AS OF: January 15, 1998
Principal Title of Security
Amount LEHMAN CORP BD-BACKED CERTIFICATES
50000000 CUSIP# : 079-857-AF5
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Exhibit 99.2
TRUSTEE'S DISTRIBUTION STATEMENT
TO THE HOLDERS OF: 97-BELLSOUTH-1
The Bank of New York, as Trustee under the
Corporate Bonds Backed Certs.
Class A-1 Certificates
CUSIP NUMBER: 219-87H-AL9
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 : July 15, 1998
INTEREST ACCOUNT
Balance as of January 15, 1998 0
Schedule Income received on securities.................. 1269524
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............. 1266524
Distribution to Swap Counterparty.............. 0
Trustee Fees................................... 2250
Fees allocated for third party expenses..... 750
Balance as of July 15, 1998 Subtotal 510476
PRINCIPAL ACCOUNT
Balance as of January 15, 1998 0
Scheduled Principal payment received on securities...... 510476
Principal received on sale of securities............ 0
LESS:
Distribution to Beneficial Holders............. 510476
Distribution to Swap Counterparty.............. 0
Balance as of July 15, 1998 Subtotal 0
Balance 0
UNDERLYING SECURITIES HELD AS OF: July 15, 1998
Principal Title of Security
Amount LEHMAN CORP BD-BACKED CERTIFICATES
50000000 CUSIP# : 079-857-AF5
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Exhibit 99.3
TRUSTEE'S DISTRIBUTION STATEMENT
TO THE HOLDERS OF: 97-BELLSOUTH-1
The Bank of New York, as Trustee under the
Corporate Bonds Backed Certs.
Class A-1 Certificates
CUSIP NUMBER: 219-87H-AL9
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 : January 15, 1999
INTEREST ACCOUNT
Balance as of July 15, 1998 0
Schedule Income received on securities.................. 1780000
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............. 1249934
Distribution to Swap Counterparty.............. 0
Trustee Fees................................... 2250
Fees allocated for third party expenses...... 750
Balance as of January 15, 1999 Subtotal 527066
PRINCIPAL ACCOUNT
Balance as of July 15, 1998 0
Scheduled Principal payment received on securities....... 0
Principal received on sale of securities.......... 0
LESS:
Distribution to Beneficial Holders................... 527066
Distribution to Swap Counterparty.................... 0
Balance as of January 15, 1999 Subtotal 527066
Balance 0
UNDERLYING SECURITIES HELD AS OF: January 15, 1999
Principal Title of Security
Amount LEHMAN CORP BD-BACKED CERTIFICATES
50000000 CUSIP# : 079-857-AF5
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Exhibit 99.4
TRUSTEE'S DISTRIBUTION STATEMENT
TO THE HOLDERS OF: 97-BELLSOUTH-1
The Bank of New York, as Trustee under the
Corporate Bonds Backed Certs.
Class A-1 Certificates
CUSIP NUMBER: 219-87H-AL9
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 : July 15, 1999
INTEREST ACCOUNT
Balance as of January 15, 1999 0
Schedule Income received on securities.................. 1780000
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............. 1232804
Distribution to Swap Counterparty.............. 0
Trustee Fees................................... 2250
Fees allocated for third party expenses...... 750
Balance as of July 15, 1999 Subtotal 544196
PRINCIPAL ACCOUNT
Balance as of January 15, 1999 0
Scheduled Principal payment received on securities...... 0
Principal received on sale of securities........... 0
LESS:
Distribution to Beneficial Holders.................... 544196
Distribution to Swap Counterparty..................... 0
Balance as of July 15, 1999 Subtotal 544196
Balance 0
UNDERLYING SECURITIES HELD AS OF: July 15, 1999
Principal Title of Security
Amount LEHMAN CORP BD-BACKED CERTIFICATES
50000000 CUSIP# : 079-857-AF5
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Exhibit 99.5
TRUSTEE'S DISTRIBUTION STATEMENT
TO THE HOLDERS OF: 97-BELLSOUTH-1
The Bank of New York, as Trustee under the
Corporate Bonds Backed Certs.
Class A-1 Certificates
CUSIP NUMBER: 219-87H-AL9
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 : January 17, 2000
INTEREST ACCOUNT
Balance as of July 15, 1999 0
Schedule Income received on securities.................. 1780000
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............. 1215118
Distribution to Swap Counterparty.............. 0
Trustee Fees................................... 2250
Fees allocated for third party expenses..... 750
Balance as of January 17, 2000 Subtotal 561882
PRINCIPAL ACCOUNT
Balance as of July 15, 1999 0
Scheduled Principal payment received on securities...... 0
Principal received on sale of securities......... 0
LESS:
Distribution to Beneficial Holders................. 561882
Distribution to Swap Counterparty.................. 0
Balance as of January 17, 2000 Subtotal 561882
Balance 0
UNDERLYING SECURITIES HELD AS OF: January 17, 2000
Principal Title of Security
Amount LEHMAN CORP BD-BACKED CERTIFICATES
50000000 CUSIP# : 079-857-AF5
