Attached files
| file | filename |
|---|---|
| 8-K - MS STRUCTURED SATURNS SERIES 2002-15 | sat8k2002-15_0426.htm |
EXHIBIT 99.1
Structured Asset Trust Unit Repackagings (SATURNS)
Series 2002-15 Trust
Receipt of Notice of Intent to Exercise Call Options in Full
CUSIP: 80410V206
Symbol: DKF
FOR IMMEDIATE RELEASE:
April 26, 2011
NEW YORK, NEW YORK – Structured Asset Trust Unit Repackagings (SATURNS), Goodrich Corp. Debenture-Backed Series 2002-15 (the “Trust”) (New York Stock Exchange Ticker Symbol “DKF”), announced today that it has received a notice of intent to exercise 28,700 Call Options representing the right to call $28,700,000 aggregate principal amount of the 7.00% Debentures of Goodrich Corporation (the “Debentures”) held by the Trust, on May 17, 2011 (the “Intended Settlement Date”). The Call Options with respect to which the notice of intended exercise has been received represent 100% of the outstanding Debentures held by the Trust. Under the terms of the Call Options, the party exercising the Call Options may rescind its notice of exercise at any time prior to the Intended Settlement Date by providing notice of rescission to the Trust, in which case settlement of such Call Options would not occur and the Call Options would continue in effect and could be exercised on a subsequent date. If the notice of exercise is not rescinded and settlement of the Call Options actually occurs on the Intended Settlement Date, the Trust Agreement provides that all outstanding Units will be redeemed at par ($25.00) plus accrued interest from the available proceeds of the settlement of the Call Options.
Contact:
Thais Hayum - Assistant Vice-President
Bank of America Merrill Lynch
P: +1-312-904-8944
F: +1-312-453-6195
E: thais.hayum@bankofamerica.com