CORPORATE ASSET BACKED CORP
8-K, 1999-12-16
ASSET-BACKED SECURITIES
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<PAGE>   1



                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 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) December 1, 1999





                       Corporate Asset Backed Corporation
- -------------------------------------------------------------------------------
             (EXACT NAME OR REGISTRANT AS SPECIFIED IN ITS CHARTER)


Delaware                              33-73666                  22-3281571
- -------------------------------------------------------------------------------
(STATE OF OTHER JURISDICTION        (COMMISSION              (I.R.S. EMPLOYER
      OF INCORPORATION)             FILE NUMBER)            IDENTIFICATION NO.)


c/o PaineWebber Incorporated
1285 Avenue of the Americas, 11th Floor
New York, NY                                                         10019
- -------------------------------------------------------------------------------
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)                           (ZIP CODE)

Registrant's telephone number, including area code: (212) 713-2841


- -------------------------------------------------------------------------------
           (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPOR
<PAGE>   2


Item 1.   Changes in Control of Registrant.

          NOT APPLICABLE.

Item 2.   Acquisition or Disposition of Assets.

          NOT APPLICABLE.

Item 3.   Bankruptcy or Receivership.

          NOT APPLICABLE.

Item 4.   Changes in Registrant's Certifying Accountant.

          NOT APPLICABLE.

Item 5.   Other Events.

          NOT APPLICABLE.

Item 6.   Resignations of Registrant's Directors.

          NOT APPLICABLE.

Item 7.   Financial Statements, Pro-Forma Financial Information and Exhibits.

          (a) NOT APPLICABLE.

          (b) NOT APPLICABLE.

          (c) EXHIBITS.

          1.   Trustee's letter in respect of the receipt and disbursement of
               interest by the CABCO Trust for Florida Power and Light
               Debentures on December 1, 1999.

               $817,604.17 to the Trust Certificate Holders.
               $63,645.83 to the Depositor.


Item 8.   Change in Fiscal Year.

          NOT APPLICABLE.


<PAGE>   3


                                   SIGNATURES


     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.

                              CORPORATE ASSET
                              BACKED CORPORATION
                                  as depositor



                              By: /s/ Robert Vascellaro
                                  -----------------------------
                                  Name:   Robert Vascellaro
                                  Title:  Vice President and Treasurer



Date:  December 8, 1999


<PAGE>   4


                                  EXHIBIT INDEX



Exhbit
- ------

  1.         Trustee's letter in respect of the receipt and disbursement
             of interest by the CABCO Trust for Florida Power and Light
             Debentures on December 1, 1999.





<PAGE>   1
               United States Trust Company of New York Letterhead



December 8, 1999

Jonathan Gottlieb
Paine Webber Incorporated
1285 Avenue of the Americas
New York NY 10019

Re: Corporate Asset Backed Corporation (Florida Power and Light
    Debentures) Trust

Dear Jonathan:

On December 1, 1999 United States Trust Company of New York, as Trustee of the
above referenced trust, received $881,250.00 representing interest on
$25,000,000 of Florida Power & Light 7.05% Debentures. This interest was
disbursed as follows:

To the Trust Certificate Holders:  $817,604.17

To the Depositor:                  $63,645.83

The payment to the Depositor is defined in the Trust Agreement as the Retained
Amount. If you have any questions, please call me at 212-852-1667.

Sincerely,

/s/ Thomas Musarra
- ------------------
    Thomas Musarra

<PAGE>   2


                                CASH TRANSACTIONS


                              CABCO TR FOR FLORIDA
                                POWER AND LIGHT


December 1, 1999    Receipt of Interest on                         $881,250.00
                    Florida Power and Light 7.05%

December 1, 1999    Funds Disbursed to
                    Holders of CABCO
                    Trust Certificates                             $817,604.17

December 1, 1999    Funds Disbursed to the Depositor               $63,645.83





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