- Annual Report (10-K)
01 April 2010 - 7:28AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
(Mark One)
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ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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For the fiscal year ended
December 31, 200
9
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or
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o
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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For the transition period from
to
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Commission File Number: 001-31948
filed on behalf of:
Corporate Backed Trust Certificates, Prudential Financial Note-Backed Series 2003-20
Trust
(Exact Name of Registrant as Specified in Its Charter)
by:
Lehman ABS Corporation
(Exact Name of Depositor as Specified in Its Charter)
Delaware
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13-3447441
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(State or other jurisdiction of incorporation or organization)
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(I.R.S. Employer Identification No.)
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1271 Avenue of the Americas, New York,
New York
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10020
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(Address of principal executive offices)
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(Zip Code)
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Registrants telephone number, including area code:
(
646
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285-9000
Securities
registered pursuant to Section 12(b) of the Act:
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Title of Each Class
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Name of Each Exchange on Which
Registered
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Corporate Backed Trust Certificates, Prudential Financial Note-Backed
Series 2003-20
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New York Stock Exchange (NYSE)
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Securities registered pursuant to Section 12(g) of the
Act:
None
Indicate by check mark if the registrant is a
well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes
o
No
x
Indicate by check mark if the registrant is not
required to file reports pursuant to Section 13 or Section 15(d) of
the Act. Yes
o
No
x
Indicate by check mark
whether the registrant: (1) has filed all reports required to be filed by Section 13
or 15(d) of the Securities Exchange Act of 1934 during the preceding 12
months (or for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements for
the past 90 days. Yes
x
No
o
Indicate by check mark whether the registrant has
submitted electronically and posted on its corporate Web site, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405 of
Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or
for such shorter period that the registrant was required to submit and post
such files). Yes
o
No
o
Indicate
by check mark if disclosure of delinquent filers pursuant to Item 405 of
Regulation S-K (§ 229.405 of this chapter)
is not contained herein, and will not be contained, to the best of
registrants knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K.
x
Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, or a non-accelerated filer.
See definition of accelerated filer and large accelerated filer in Rule 12b-2
of the Exchange Act. (Check one):
Large Accelerated Filer
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Accelerated Filer
o
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Non-Accelerated Filer
x
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Smaller reporting company
o
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Indicate by check mark whether the registrant is a
shell company (as defined in Rule 12b-2 of the Act). Yes
o
No
x
State the aggregate market value of the voting and non-voting common
equity held by nonaffiliates computed by reference to the price at which the common
equity was last sold, or the average bid and asked price of such common equity,
as of the last business day of the registrants most recently completed second
fiscal quarter.
The registrant has no voting stock or class of
common stock that is held by nonaffiliates.
DOCUMENTS
INCORPORATED BY REFERENCE
The distribution reports
to security holders filed on Form 8-K during the fiscal year in lieu of
reports on Form 10-Q which include the reports filed on Form 8-K
listed in Item 15(a) hereto are incorporated by reference into part IV of
this Annual Report.
Introductory Note
Lehman ABS Corporation
(the Depositor) is the Depositor in respect of the Corporate Backed Trust
Certificates, Prudential Financial Note-Backed Series 2003-20 Trust (the
Trust), a common law trust formed pursuant to the Standard Terms for Trust
Agreements, dated as of January 16, 2001,
between
the Depositor and U.S. Bank Trust National Association, as trustee (the
Trustee), as supplemented by a Series Supplement (the Series Supplement)
dated as of December 22, 2003
in respect of
the Trust, as supplemented by a Supplement to the Series Supplement, dated
as of January 15, 2004. The Trusts
assets consist solely of medium-term notes issued by Prudential Financial, Inc. The
Certificates do not represent obligations of or interests in the Depositor or
the Trustee.
The Registrant is a
wholly-owned, indirect subsidiary of Lehman Brothers Holdings Inc. (LBHI),
which filed a voluntary petition (the Petition) for relief under Chapter 11
of the United States Code in the United States Bankruptcy Court for the
Southern District of New York on September 15, 2008 in a jointly
administered proceeding named In re Lehman Brothers Holdings Inc., et. al.
under Case Number 08-13555. LBHI and its wholly-owned broker-dealer, Lehman
Brothers Inc., have sold since September 15, 2008 significant businesses,
including the sale on September 21, 2008 of the investment banking
business to Barclays Capital Inc., which business included the employees who
historically conducted the Registrants business.
Prudential Financial, Inc.,
the underlying
securities issuer, is subject to the information reporting requirements
of the Securities Exchange Act of 1934, as amended (the Exchange Act). For information on the underlying securities issuer, please see its periodic and current
reports filed with the Securities and Exchange Commission (the Commission)
under Prudential Financial, Inc.s
Exchange Act file number, 001-16707. The
Commission maintains a site on the World Wide Web at http://www.sec.gov at
which users can view and download copies of reports, proxy and information statements and other information regarding issuers filed
electronically through the Electronic Data Gathering, Analysis and Retrieval
system, or EDGAR. Periodic and current
reports and other information required to be filed pursuant to the Exchange Act
by the underlying securities issuer may be accessed on this site. Neither the Depositor nor the Trustee
has participated in the preparation of such reporting documents, or made any
due diligence investigation with respect to the information provided
therein. Neither the Depositor nor the
Trustee has verified the accuracy or completeness of such documents or
reports. There can be no assurance that
events affecting the underlying securities
issuer or the underlying securities have not occurred or have not yet
been publicly disclosed which would affect the accuracy or completeness of the
publicly available documents described above.
2
PART I
Item 1. Business.
Not Applicable
Item 1A. Risk
Factors.
Not Applicable
Item 1B.
Unresolved Staff Comments
.
Not Applicable
Item 2.
Properties
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Not Applicable
Item 3. Legal
Proceedings.
None
Item 4.
Submission of Matters to a Vote of Security Holders.
None
PART II
Item 5. Market
for Registrants Common Equity, Related Stockholder Matters and Issuer
Purchases of Equity Securities.
The publicly offered Certificates representing
investors interest in the Trust are represented by one or more physical
Certificates registered in the name of Cede &
Co., the nominee of The Depository
Trust Company. Those publicly offered
Certificates are listed on the NYSE.
Item 6.
Selected Financial Data.
Not Applicable
Item 7. Managements
Discussion and Analysis of Financial Condition and Results of Operation.
Not Applicable
Item 7A.
Quantitative and Qualitative
Disclosures About Market Risk.
Not Applicable
Item 8. Financial Statements and Supplementary Data.
Not Applicable
Item 9. Changes in and Disagreements With Accountants
on Accounting and Financial Disclosure.
None
Item 9A.
Controls and Procedures.
Not Applicable
Item 9A(T).
Controls and Procedures
.
Not Applicable
Item 9B. Other
Information.
None
3
PART III
Item 10.
Directors, Executive Officers and Corporate Governance.
Not Applicable
Item 11.
Executive Compensation.
Not Applicable
Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related
Stockholder Matters.
Not Applicable
Item 13.
Certain Relationships and Related Transactions, and Director
Independence.
None
Item 14.
Principal Accountant Fees and Services.
Not Applicable
PART IV
Item 15.
Exhibits, Financial Statement Schedules.
(a)
The following documents have been filed
as part of this report.
1.
Trustees Distribution Statements
documented on Form 8-K regarding the distributions from the Trust to the
certificateholders for the period from January 1, 200
9
through and including December 31,
200
9
have been filed
with the Securities and Exchange Commission and are hereby incorporated by
reference. Filing dates are listed
below:
Trust Description
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Distribution Date
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Filed on
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Corporate Backed Trust Certificates, Prudential Financial
Note-Backed Series 2003-20 Trust
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01/15/2009
07/15/2009
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07/21/2009
07/21/2009
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2.
None.
3.
Exhibits:
31.1
Certification by
Executive
Vice President of the Registrant pursuant to 15
U.S.C. Section 7241, as adopted pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
31.2 Annual
Compliance Report by Trustee pursuant to 15 U.S.C. Section 7241, as
adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.3 Report of
Aston Bell, CPA.
(b)
See Item 15(a) above.
(c)
Not Applicable.
4
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 thereunto duly authorized.
In preparing this report the Registrant has relied on Distribution
Statements provided to it by the Trustee.
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Lehman ABS Corporation, as Depositor for the
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Trust (the Registrant)
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Dated:
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March
31, 20
10
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By:
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/s/ William
J.
Fox
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Name:
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William
J.
Fox
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Title:
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Chief Financial Officer and
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Executive Vice President
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5
EXHIBIT INDEX
Reference
Number per
Item 601 of
Regulation SK
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Description of Exhibits
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Exhibit Number
in this Form 10-K
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(31.1)
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Certification by
Executive
Vice President of the Registrant
pursuant to 15 U.S.C. Section 7241, as adopted pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002.
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31.1
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(31.2)
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Annual Compliance Report by Trustee pursuant to 15
U.S.C. Section 7241, as adopted pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
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31.2
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(31.3)
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Report of Aston Bell, CPA.
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31.3
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6
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