CABCO SERIES 2004-1 TRUST (GOLDMAN SACHS CAPITAL I) - FORM 8-K - EX-99.1 - May 30, 2013

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Exhibit No. 99.1

TRUSTEE’S DISTRIBUTION REPORT

To the Holders of:

CABCO Series 2004-1 Trust (Goldman Sachs Capital I) (the “Trust”) Class A-1 Callable Certificates, CUSIP: 12679Q206 (the “Class A-1 Certificates”) and Class B-1 Callable Certificates, CUSIP: 12679Q305 (the “Class B-1 Certificates”).

U.S. Bank Trust National Association, as trustee (the “Trustee”) for the Trust hereby gives notice with respect to the distribution occurring on May 28, 2013 (the “Final Distribution Date”) as follows:

 

  1. The aggregate amount of the distribution payable to the certificateholders on the Final Distribution Date allocable to principal and premium, if any, and interest expressed as a dollar amount, is as set forth below:

 

Class    Principal      Interest      Premium      Total Distribution  

A-1

    $ 62,500,000.00       $ 1,072,916.67       $ 0.00       $ 63,572,916.67   

B-1

    $ 0.00       $ 2,122,783.91       $ 0.00       $ 2,122,783.91   

 

  2. The applicable pass-through rate for the calculation of interest distributable on the Class A-1 Certificates: 6.00% per annum. The Class A-1 Certificates were redeemed at a “Call Price” amount equal to the outstanding certificate principal balance on the Final Distribution Date of the Class A-1 Certificates plus accrued and unpaid interest.

 

  3. The applicable pass-through rate for the calculation of interest distributable on the Class B-1 Certificates: 0.345% per annum. The Class B-1 Certificates were redeemed at a “Call Price” amount equal to the sum of the present values of the Remaining Scheduled Interest Distributions on the Class B-1 Certificates distributable after the Final Distribution Date, discounted to that date on a semiannual basis (assuming a 360-day year consisting of twelve 30 day months) at a 8.64506% per annum Pricing Yield. The Class B-1 Certificates are interest-only certificates and did not receive payment of principal.

 

  4. The amount of aggregate interest due and not paid on the Class A-1 Certificates as of the Final Distribution Date is $0.00.

 

  5. The amount of aggregate interest due and not paid on the Class B-1 Certificates as of the Final Distribution Date is $0.00.

 

  6. The aggregate stated principal amount of 6.345% Goldman Sachs Capital I Capital Securities due February 15, 2034 (the “Underlying Securities”) held immediately prior to such Final Distribution Date was $62,500,000.00. $62,500,000 principal amount of Underlying Securities was distributed to the exercising Call Option holders on the Final Distribution Date, leaving $0 principal amount remaining in the Trust.

 

  7. The amounts received by the Trustee in respect of the Underlying Securities during the immediately preceding Underlying Securities interest accrual period were $0. The total amounts of the Call Price received with respect to the Class A-1 Call Options and Class B-1 Call Options from the exercising Call Option holders on the Final Distribution Date was $65,695,700.58.

  8. The aggregate certificate principal balance of the Class A-1 Certificates was $62,500,000.00 and the aggregate certificate notional amount of the Class B-1 Certificates was $62,500,000.00 at the close of business on the business day immediately preceding the Distribution Date. After giving effect to the Final Distribution, the remaining aggregate certificate principal balance of the Class A-1 Certificates was $0.00 and the remaining aggregate certificate notional amount of the Class B-1 Certificates was $0.00

 

  9. The current ratings of the Underlying Securities are not provided in this report. Ratings can be obtained from Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., by calling 212-438-2400 and from Moody’s Investors Service, Inc. by calling 212-553-0377.

 

  10. No fees have been paid to the Trustee from the assets of the Trust.

 

U.S. BANK TRUST NATIONAL ASSOCIATION,

as Trustee of CABCO Series 2004-1 Trust

(Goldman Sachs Capital I)

By:  

/s/ David J. Kolibachuk

  Name: David J. Kolibachuk
  Title:   Vice President