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: March 22, 1999
(Date of earliest event reported)
Asset Securitization Corporation
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(Exact name of registrant as specified in its charter)
Delaware 333-53859 13-3672337
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
Two World Financial Center, Building B, New York, New York 10281
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Address of Principal Executive Office
Registrant's telephone number, including area code: (212) 667-9300
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ITEM 5. OTHER EVENTS.
Attached as Exhibit 99.1 to this Current Report are certain materials
(the "Structural Term Sheet") furnished to the Registrant by Goldman, Sachs &
Co., Lehman Brothers Inc. and Donaldson, Lufkin & Jenrette Securities
Corporation (the "Underwriters"), certain of the underwriters in respect of the
Registrant's Commercial Mortgage Asset Trust, Commercial Mortgage Pass-Through
Certificates, Series 1999-C1 (the "Certificates"). The Certificates are being
offered pursuant to a Prospectus and related Prospectus Supplement (together,
the "Prospectus"), which will be filed with the Commission pursuant to Rule
424(b)(5) under the Securities Act of 1933, as amended (the "Act"). The
Certificates have been registered pursuant to the Act under a Registration
Statement on Form S-3 (No. 333-53859) (the "Registration Statement"). The
Registrant hereby incorporates the Structural Term Sheet by reference in the
Registration Statement.
The Structural Term Sheet was prepared solely by the Underwriters, and
the Registrant did not prepare or participate in the preparation of the
Structural Term Sheet.
Any statement or information contained in the Structural Term Sheet
shall be deemed to be modified or superseded for purposes of the Prospectus and
the Registration Statement by statements or information contained in the
Prospectus.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits
Exhibit No. Description
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99.1 Structural Term Sheet
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Pursuant to the requirements of the Securities Act of 1934, the
Registrant has duly caused this report to be signed on behalf of the Registrant
by the undersigned thereunto duly authorized.
ASSET SECURITIZATION CORPORATION
By: /s/ Marlyn Marincas
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Name: Marlyn Marincas
Title:
Date: March 22, 1999
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EXHIBIT INDEX
Exhibit No. Description Paper (P) or Electronic (E)
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99.1 Structural Term Sheet E
<TABLE>
<CAPTION>
CMAT-1999-C1 A3
Yield Table(Speeds start after Hard Lock)
Current Balance $800,000,000 Gross WAC 7.2352
Pass-Thru Rate 6.64 Current WAM 333
Accrued Days / Delay Days 14 / 6 Settlement 03/25/99
Prepayments
Price 0.0% CPR 25.0% CPR 50.0% CPR 75.0% CPR 100.0% CPR
Yield ModDur Yield ModDur Yield ModDur Yield ModDur Yield ModDur
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
100.78125 100-25 6.606 7.03 6.606 7.03 6.606 7.03 6.606 7.02 6.605 6.98
100.8125 100-26 6.602 6.602 6.602 6.602 6.601
100.84375 100-27 6.597 6.597 6.597 6.597 6.596
100.875 100-28 6.593 6.593 6.593 6.593 6.592
100.90625 100-29 6.589 6.589 6.589 6.588 6.587
100.9375 100-30 6.584 6.584 6.584 6.584 6.583
100.96875 100-31 6.58 6.58 6.58 6.58 6.579
101 101-00 6.576 6.575 6.575 6.575 6.574
101.03125 101-01 6.571 7.04 6.571 7.04 6.571 7.03 6.571 7.03 6.57 6.98
101.0625 101-02 6.567 6.567 6.567 6.566 6.565
101.09375 101-03 6.562 6.562 6.562 6.562 6.561
101.125 101-04 6.558 6.558 6.558 6.558 6.557
101.15625 101-05 6.554 6.554 6.553 6.553 6.552
101.1875 101-06 6.549 6.549 6.549 6.549 6.548
101.21875 101-07 6.545 6.545 6.545 6.545 6.543
101.25 101-08 6.541 6.54 6.54 6.54 6.539
101.25361 101-08 6.54 7.04 6.54 7.04 6.54 7.04 6.54 7.03 6.538 6.98
101.28125 101-09 6.536 6.536 6.536 6.536 6.535
101.3125 101-10 6.532 6.532 6.532 6.531 6.53
101.34375 101-11 6.527 6.527 6.527 6.527 6.526
101.375 101-12 6.523 6.523 6.523 6.523 6.521
101.40625 101-13 6.519 6.519 6.518 6.518 6.517
101.4375 101-14 6.514 6.514 6.514 6.514 6.512
101.46875 101-15 6.51 6.51 6.51 6.51 6.508
101.5 101-16 6.506 7.05 6.505 7.04 6.505 7.04 6.505 7.03 6.504 6.99
101.53125 101-17 6.501 6.501 6.501 6.501 6.499
101.5625 101-18 6.497 6.497 6.497 6.496 6.495
101.59375 101-19 6.493 6.492 6.492 6.492 6.491
101.625 101-20 6.488 6.488 6.488 6.488 6.486
101.65625 101-21 6.484 6.484 6.484 6.483 6.482
101.6875 101-22 6.479 6.479 6.479 6.479 6.477
101.71875 101-23 6.475 6.475 6.475 6.475 6.473
Avg Life 9.87 9.86 9.86 9.85 9.76
First Pay 7/17/08 7/17/08 7/17/08 6/17/08 4/17/08
Last Pay 9/17/10 9/17/10 9/17/10 9/17/10 9/17/10
Prin. Window 27 27 27 28 30
</TABLE>
