------------------------
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 (Date of earliest event reported)
June 14, 2000
Prudential Securities Secured Financing Corporation
---------------------------------------------------
(Exact Name of Registrant as Specified in its Charter)
Delaware 333-75489 13-3526694
------------------------------------------------------------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
One New York Plaza
New York, New York 10292
-------------------------------------------------------------------
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code: (212) 778-1000
No Change
--------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
Item 5. Other Events.(1)
------------
In connection with the offering of ABFS Mortgage Loan Trust 2000-2,
Mortgage-Backed Notes, Series 2000-2 described in a Prospectus Supplement
dated June 14, 2000, certain "Computational Materials" within the meanings of
the May 20, 1994 Kidder, Peabody No-Action Letter and the February 17, 1995
Public Securities Association No-Action Letter were furnished to certain
prospective investors (the "Related Computational Materials").
--------------------
(1) Capitalized terms used but not otherwise defined herein shall have the
same meanings ascribed to them in the Prospectus.
<PAGE>
Item 7. Financial Statements; Pro Forma Financial Information and
Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Related Computational Materials (as defined
in Item 5 above).
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
PRUDENTIAL SECURITIES SECURED
FINANCING CORPORATION
By: /s/ Evan Mitnick
---------------------------
Name: Evan Mitnick
Title: Vice President
Dated: June 23, 2000
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
----------- -----------
99.1 Related Computational Materials (as defined in
Item 5 above).
<PAGE>
Exhibit 99.1 Related Computational Materials --
Mortgage Loan Pool Statistical Data
<PAGE>
ABFS 2000-2
===========
06/12/2000
A1 Coupon Set at Par at 23% HEP Prepayments, To Call, Spread to Off-the-run
Class A1
To Call:
-------
Y-Curve CPR A.L. Interp T Shocked T BEY* PX Modified Dur.
-300 38 1.715 6.430 3.430 5.029 104-21 1.551
-200 34 1.969 6.511 4.511 6.106 103-11+ 1.727
-100 29 2.365 6.485 5.485 7.087 101-31 1.996
0 27 2.561 6.472 6.472 8.070 100-0+ 2.094
+100 22 3.193 6.431 7.431 9.026 97-23 2.454
+200 20 3.519 6.412 8.412 10.013 95-2 2.581
+300 15 4.651 6.339 9.339 10.937 91-10+ 3.072
*BEY is Spread to Shocked Interpolated Treasury
<TABLE>
<CAPTION>
ORIGINAL BALANCE: $255,000,000.00 BOND A1 BE-YIELD TABLE YIELD TABLE DATE: 06/29/00
PREPAYMENT SPEED
15.00% 20.00% 22.00% 27.00% 29.00% 34.00% 38.00% 23.0%
PRICE CPR CPR CPR CPR CPR CPR CPR HEP
<S> <C> <C> <C> <C> <C> <C> <C> <C>
100-00 8.134 8.112 8.102 8.078 8.067 8.039 8.015 8.108
First Payment 0.044 0.044 0.044 0.044 0.044 0.044 0.044 0.044
Average Life 4.651 3.519 3.193 2.561 2.365 1.969 1.715 3.335
Last Payment 12.044 9.211 8.378 6.711 6.211 5.211 4.544 8.294
Mod.Dur. @ 100-00 3.365 2.715 2.511 2.094 1.957 1.670 1.480 2.632
Accrued Interest 0.629 0.629 0.629 0.629 0.629 0.629 0.629 0.629
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
Class A1
To Maturity With Step-ups:
-------------------------
Y-Curve CPR A.L. Interp T Shocked T BEY* PX Modified Dur.
-300 38 1.893 6.487 3.487 5.086 105-1 1.690
-200 34 2.170 6.498 4.498 6.097 103-23 1.868
-100 29 2.609 6.469 5.469 7.067 102-7+ 2.140
0 27 2.825 6.455 6.455 8.053 100-4+ 2.227
+100 22 3.504 6.411 7.411 9.007 97-23+ 2.571
+200 20 3.849 6.388 8.388 9.987 95-0 2.678
+300 15 4.993 6.315 9.315 10.910 91-8 3.134
*BEY is Spread to Shocked Interpolated Treasury
The preliminary pricing information contained herein is neither an offer to
sell nor a solicitation to buy any securities. Moreover, there is no assurance
that such information will not change prior to final pricing. Any formal offer
or solicitation will be made by a prospectus (or offering memorandum) to be
accompanied or followed by a written confirmation.
<PAGE>
<TABLE>
<CAPTION>
ORIGINAL BALANCE: $255,000,000.00 BOND A1 BE-YIELD TABLE YIELD TABLE DATE:
06/29/00
PREPAYMENT SPEED
15.00% 20.00% 22.00% 27.00% 29.00% 34.00% 38.00% 23.0%
PRICE CPR CPR CPR CPR CPR CPR CPR HEP
<S> <C> <C> <C> <C> <C> <C> <C> <C>
100-00 8.153 8.140 8.133 8.115 8.107 8.084 8.064 8.137
First Payment 0.044 0.044 0.044 0.044 0.044 0.044 0.044 0.044
Average Life 4.993 3.849 3.504 2.825 2.609 2.170 1.893 3.635
Last Payment 22.044 18.128 17.378 15.628 14.544 12.211 10.711 17.211
Mod.Dur. @ 100-00 3.473 2.844 2.642 2.223 2.083 1.785 1.588 2.760
Accrued Interest 0.629 0.629 0.629 0.629 0.629 0.629 0.629 0.629
</TABLE>
The preliminary pricing information contained herein is neither an offer to
sell nor a solicitation to buy any securities. Moreover, there is no assurance
that such information will not change prior to final pricing. Any formal offer
or solicitation will be made by a prospectus (or offering memorandum) to be
accompanied or followed by a written confirmation.
<PAGE>
<TABLE>
<CAPTION>
To Maturity
-----------
06/14/00, Pricing
CURRENT BALANCE: $255,000,000.00 DATED DATE: 06/01/00
COUPON: 8.035% abfs002 FIRST PAYMENT: 07/15/00
FACTOR: 1.0000000000 TOTAL CLASSES: 2
ORIGINAL BALANCE: $255,000,000.00 BOND A1 BE-YIELD TABLE YIELD TABLE DATE: 06/29/00
PREPAYMENT SPEED
PRICING SPEED
23.0% 15.00% 20.00% 22.00% 27.00% 29.00% 34.00% 38.00%
PRICE HEP CPR CPR CPR CPR CPR CPR CPR
<S> <C> <C> <C> <C> <C> <C> <C> <C>
100-00 8.08 8.10 8.08 8.08 8.06 8.05 8.03 8.01
First Payment 0.044 0.044 0.044 0.044 0.044 0.044 0.044 0.044
Average Life 3.634 4.993 3.848 3.504 2.824 2.609 2.169 1.893
Last Payment 17.211 22.044 18.128 17.378 15.628 14.544 12.211 10.711
Mod.Dur. @ 100-00 2.764 3.480 2.848 2.646 2.226 2.085 1.787 1.589
Accrued Interest 0.625 0.625 0.625 0.625 0.625 0.625 0.625 0.625
</TABLE>
The preliminary pricing information contained herein is neither an offer to
sell nor a solicitation to buy any securities. Moreover, there is no assurance
that such information will not change prior to final pricing. Any formal offer
or solicitation will be made by a prospectus (or offering memorandum) to be
accompanied or followed by a written confirmation.
<PAGE>
<TABLE>
<CAPTION>
To Maturity
-----------
06/14/00, Pricing
CURRENT BALANCE: $255,000,000.00 DATED DATE: 06/01/00
COUPON: 8.035% abfs002 FIRST PAYMENT: 07/15/00
FACTOR: 1.0000000000 TOTAL CLASSES: 2
ORIGINAL BALANCE: $255,000,000.00 BOND A1 BE-YIELD TABLE YIELD TABLE DATE: 06/29/00
PREPAYMENT SPEED
PRICING SPEED
23.0% 15.00% 20.00% 22.00% 27.00% 29.00% 34.00% 38.00%
PRICE HEP CPR CPR CPR CPR CPR CPR CPR
<S> <C> <C> <C> <C> <C> <C> <C> <C>
99-24 8.17 8.17 8.17 8.17 8.17 8.17 8.17 8.17
99-24+ 8.17 8.16 8.17 8.17 8.16 8.16 8.16 8.16
99-25 8.16 8.16 8.16 8.16 8.16 8.16 8.15 8.15
99-25+ 8.15 8.15 8.15 8.15 8.15 8.15 8.14 8.14
99-26 8.15 8.15 8.15 8.15 8.14 8.14 8.13 8.13
99-26+ 8.14 8.15 8.14 8.14 8.14 8.13 8.12 8.12
99-27 8.14 8.14 8.14 8.14 8.13 8.13 8.12 8.11
99-27+ 8.13 8.14 8.13 8.13 8.12 8.12 8.11 8.10
99-28 8.13 8.13 8.13 8.12 8.12 8.11 8.10 8.09
99-28+ 8.12 8.13 8.12 8.12 8.11 8.10 8.09 8.08
99-29 8.11 8.12 8.12 8.11 8.10 8.10 8.08 8.07
99-29+ 8.11 8.12 8.11 8.11 8.09 8.09 8.07 8.06
99-30 8.10 8.11 8.11 8.10 8.09 8.08 8.06 8.05
99-30+ 8.10 8.11 8.10 8.10 8.08 8.07 8.05 8.04
99-31 8.09 8.11 8.09 8.09 8.07 8.07 8.05 8.03
99-31+ 8.09 8.10 8.09 8.08 8.07 8.06 8.04 8.02
100-00 8.08 8.10 8.08 8.08 8.06 8.05 8.03 8.01
100-00+ 8.08 8.09 8.08 8.07 8.05 8.04 8.02 8.00
100-01 8.07 8.09 8.07 8.07 8.05 8.04 8.01 7.99
100-01+ 8.06 8.08 8.07 8.06 8.04 8.03 8.00 7.98
100-02 8.06 8.08 8.06 8.05 8.03 8.02 7.99 7.97
100-02+ 8.05 8.07 8.06 8.05 8.02 8.01 7.99 7.96
100-03 8.05 8.07 8.05 8.04 8.02 8.01 7.98 7.95
100-03+ 8.04 8.07 8.05 8.04 8.01 8.00 7.97 7.94
100-04 8.04 8.06 8.04 8.03 8.00 7.99 7.96 7.93
100-04+ 8.03 8.06 8.03 8.02 8.00 7.98 7.95 7.92
100-05 8.02 8.05 8.03 8.02 7.99 7.98 7.94 7.91
100-05+ 8.02 8.05 8.02 8.01 7.98 7.97 7.93 7.90
100-06 8.01 8.04 8.02 8.01 7.98 7.96 7.92 7.89
100-06+ 8.01 8.04 8.01 8.00 7.97 7.95 7.92 7.88
100-07 8.00 8.03 8.01 8.00 7.96 7.95 7.91 7.87
100-07+ 8.00 8.03 8.00 7.99 7.96 7.94 7.90 7.86
First Payment 0.044 0.044 0.044 0.044 0.044 0.044 0.044 0.044
Average Life 3.634 4.993 3.848 3.504 2.824 2.609 2.169 1.893
Last Payment 17.211 22.044 18.128 17.378 15.628 14.544 12.211 10.711
Mod.Dur. @ 100-00 2.764 3.480 2.848 2.646 2.226 2.085 1.787 1.589
Accrued Interest 0.625 0.625 0.625 0.625 0.625 0.625 0.625 0.625
</TABLE>
The preliminary pricing information contained herein is neither an offer to
sell nor a solicitation to buy any securities. Moreover, there is no assurance
that such information will not change prior to final pricing. Any formal offer
or solicitation will be made by a prospectus (or offering memorandum) to be
accompanied or followed by a written confirmation.
<PAGE>
<TABLE>
<CAPTION>
To Call
-------
06/14/00, Pricing
CURRENT BALANCE: $255,000,000.00 DATED DATE: 06/01/00
COUPON: 8.035% abfs002 FIRST PAYMENT: 07/15/00
FACTOR: 1.0000000000 TOTAL CLASSES: 2
ORIGINAL BALANCE: $255,000,000.00 BOND A1 BE-YIELD TABLE YIELD TABLE DATE: 06/29/00
PREPAYMENT SPEED
PRICING SPEED
23.0% 15.00% 20.00% 22.00% 27.00% 29.00% 34.00% 38.00%
PRICE HEP CPR CPR CPR CPR CPR CPR CPR
<S> <C> <C> <C> <C> <C> <C> <C> <C>
100-00 8.05 8.08 8.06 8.05 8.02 8.01 7.98 7.96
First Payment 0.044 0.044 0.044 0.044 0.044 0.044 0.044 0.044
Average Life 3.334 4.651 3.518 3.192 2.560 2.365 1.968 1.715
Last Payment 8.294 12.044 9.211 8.378 6.711 6.211 5.211 4.544
Mod.Dur. @ 100-00 2.636 3.371 2.719 2.514 2.096 1.959 1.672 1.481
Accrued Interest 0.625 0.625 0.625 0.625 0.625 0.625 0.625 0.625
</TABLE>
The preliminary pricing information contained herein is neither an offer to
sell nor a solicitation to buy any securities. Moreover, there is no assurance
that such information will not change prior to final pricing. Any formal offer
or solicitation will be made by a prospectus (or offering memorandum) to be
accompanied or followed by a written confirmation.
<PAGE>
<TABLE>
<CAPTION>
To Call
-------
06/14/00, Pricing
CURRENT BALANCE: $255,000,000.00 DATED DATE: 06/01/00
COUPON: 8.035% abfs002 FIRST PAYMENT: 07/15/00
FACTOR: 1.0000000000 TOTAL CLASSES: 2
ORIGINAL BALANCE: $255,000,000.00 BOND A1 BE-YIELD TABLE YIELD TABLE DATE: 06/29/00
PREPAYMENT SPEED
PRICING SPEED
23.0% 15.00% 20.00% 22.00% 27.00% 29.00% 34.00% 38.00%
PRICE HEP CPR CPR CPR CPR CPR CPR CPR
<S> <C> <C> <C> <C> <C> <C> <C> <C>
99-24 8.15 8.15 8.15 8.15 8.14 8.14 8.13 8.13
99-24+ 8.14 8.15 8.14 8.14 8.13 8.13 8.12 8.12
99-25 8.13 8.14 8.14 8.13 8.13 8.12 8.11 8.11
99-25+ 8.13 8.14 8.13 8.13 8.12 8.11 8.11 8.10
99-26 8.12 8.13 8.12 8.12 8.11 8.11 8.10 8.09
99-26+ 8.12 8.13 8.12 8.11 8.10 8.10 8.09 8.08
99-27 8.11 8.12 8.11 8.11 8.10 8.09 8.08 8.06
99-27+ 8.11 8.12 8.11 8.10 8.09 8.08 8.07 8.05
99-28 8.10 8.12 8.10 8.10 8.08 8.07 8.06 8.04
99-28+ 8.09 8.11 8.10 8.09 8.07 8.07 8.05 8.03
99-29 8.09 8.11 8.09 8.08 8.07 8.06 8.04 8.02
99-29+ 8.08 8.10 8.08 8.08 8.06 8.05 8.03 8.01
99-30 8.08 8.10 8.08 8.07 8.05 8.04 8.02 8.00
99-30+ 8.07 8.09 8.07 8.07 8.04 8.04 8.01 7.99
99-31 8.06 8.09 8.07 8.06 8.04 8.03 8.00 7.98
99-31+ 8.06 8.08 8.06 8.05 8.03 8.02 7.99 7.97
100-00 8.05 8.08 8.06 8.05 8.02 8.01 7.98 7.96
100-00+ 8.05 8.07 8.05 8.04 8.01 8.00 7.97 7.95
100-01 8.04 8.07 8.04 8.03 8.01 8.00 7.97 7.94
100-01+ 8.03 8.06 8.04 8.03 8.00 7.99 7.96 7.93
100-02 8.03 8.06 8.03 8.02 7.99 7.98 7.95 7.92
100-02+ 8.02 8.06 8.03 8.02 7.98 7.97 7.94 7.91
100-03 8.02 8.05 8.02 8.01 7.98 7.96 7.93 7.90
100-03+ 8.01 8.05 8.02 8.00 7.97 7.96 7.92 7.89
100-04 8.01 8.04 8.01 8.00 7.96 7.95 7.91 7.88
100-04+ 8.00 8.04 8.00 7.99 7.96 7.94 7.90 7.87
100-05 7.99 8.03 8.00 7.98 7.95 7.93 7.89 7.86
100-05+ 7.99 8.03 7.99 7.98 7.94 7.92 7.88 7.84
100-06 7.98 8.02 7.99 7.97 7.93 7.92 7.87 7.83
100-06+ 7.98 8.02 7.98 7.97 7.93 7.91 7.86 7.82
100-07 7.97 8.01 7.98 7.96 7.92 7.90 7.85 7.81
100-07+ 7.96 8.01 7.97 7.95 7.91 7.89 7.85 7.80
First Payment 0.044 0.044 0.044 0.044 0.044 0.044 0.044 0.044
Average Life 3.334 4.651 3.518 3.192 2.560 2.365 1.968 1.715
Last Payment 8.294 12.044 9.211 8.378 6.711 6.211 5.211 4.544
Mod.Dur. @ 100-00 2.636 3.371 2.719 2.514 2.096 1.959 1.672 1.481
Accrued Interest 0.625 0.625 0.625 0.625 0.625 0.625 0.625 0.625
</TABLE>
The preliminary pricing information contained herein is neither an offer to
sell nor a solicitation to buy any securities. Moreover, there is no assurance
that such information will not change prior to final pricing. Any formal offer
or solicitation will be made by a prospectus (or offering memorandum) to be
accompanied or followed by a written confirmation.
