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
Date of report
(Date of earliest event reported): December 15, 1996
J.P. Morgan Structured Finance Corp. (Registrant)/
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Guaranteed Export Trust-PDVSA 1996-A (Issuer)
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(Exact Name of Registrant as Specified in Charter)
Delaware 33-76482 13-3761270
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(State or Other (Commission (IRS Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
c/o Bankers Trust Company, as Trustee
Four Albany Street
New York, New York 10006
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(Address of Principal Executive Offices) (Zip Code)
Trustee's telephone number, including area code:
(212) 250-2500
Item 5. Other Events
On behalf of Guaranteed Export Trust-PDVSA 1996-A (the
"Trust"), Bankers Trust Company, as trustee for the Trust (the "Trustee"), has
caused to be filed with the Commission the Semiannual Report dated December
16, 1996, with respect to the Trust. The Semiannual Report is filed pursuant
to and in accordance with the no action letter filed July 12, 1995 regarding
Guaranteed Export Trusts - PDVSA. The filing of the Semiannual Report will
occur subsequent to each semiannual distribution to holders of the Trust's
6.55% Certificates, due June 15, 2004, Series 1996-A (the "Certificates").
The Certificates are designed to pass through to the holders principal and
interest payments on the Promissory Notes.
The Trust was established on April 29, 1996. There were
seventeen definitive treasury rate notes of Maraven, S.A. (each of the
treasury rate note, a "Promissory Note" and, collectively, the "Promissory
Notes") relating to the Trust with a total principal balance of $233,053,768.
The principal balance of the Promissory Notes is amortized in 16 equal
installments of principal of $13,709,154.85 and one other installment of
$13,707,290.40. Such principal payment is to be made on June 15 and December
15 of every year, beginning on June 15, 1996 and ending on June 15, 2004.
Current payment to which this 8-K is related represents the second payment on
the principal.
Semiannual Report Information:
A. Aggregate distribution information for the period ended
December 15, 1996.
Certificate
Holder Principal Interest
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Cede & Co. 13,709,154.85 $7,183,536.08
B. No delinquency in payment under the Promissory Notes.
C. There was no principal nor interest deficiency during
this payment period.
D. There were no amounts paid or amounts payable under the
PDVSA Guarantee, the Eximbank Guarantee or the Liquidity
Agreement.
E. There were no further developments with respect to the
Eximbank Guarantee.
Item 7. Financial Statements and Exhibits
(c). Exhibits
No.
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4.1 Declaration of Trust, including
the form of Certificates(*)
10.1 Liquidity Agreement(*)
10.2 Second Transfer Agreement(*)
10.3 Guarantee Agreement.(**)
20.1 Semiannual Report for the period ended
December 15, 1996.
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(*) Previously filed with 8-K dated April 29, 1996.
(**) Previously filed with Registration Statement on Form S-3, No. 33-76482.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, Guaranteed Export Trust-PDVSA 1996-A has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
GUARANTEED EXPORT TRUST-PDVSA 1996-A
By: Bankers Trust Company, as Trustee
December 24, 1996 By: /s/ Louis Bodi
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Name: Louis Bodi
Title: Vice President
Exhibit 20.1
Bankers Trust Company
One Bankers Trust Plaza, New York, New York 10006
Mailing Address:
P.O. Box 318, Church Street Station
New York, New York 10008-0318
Guaranteed Export Trust - PDVSA 1996-A
Semiannual Report
For the Payable December 16, 1996
Pursuant to Section 4.1 of the Declaration of Trust dated as of April 29,
1996, between J.P. Morgan Structured Finance Corp., as Depositor and
Bankers Trust Company, as Trustee, Bankers Trust Company is providing this
semiannual report.
1. The amount of Principal paid to Certificateholders: 13,709,154.85
2. The amount of Interest paid to Certificateholders: 7,183,536.08
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3. Total amount paid to Certificateholders(1+2): 20,892,690.93
4. The amount by which the Note Payment exceeds
the total amount paid to Certificateholders(NP-#3): 0.00
5. No delinquency in payment under the Notes, the Eximbank Guarantee,
the PDVSA Guarantee, the Liquidity Agreement or the Eximbank
Payment Certificate has occurred and is continuing.
6. The Trustee has not received any notice of an Event of Default.
To the best of my knowledge and belief, this Semiannual Report has been
completed accurately and complies with the requirements of Section 4.1 of
the Declaration of Trust.
/s/ Steve M. Husbands
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Steve M. Husbands
Assistant Secretary
