Structured Asset Trust Unit Repackagings


Also found in: Acronyms.

Structured Asset Trust Unit Repackagings

A synthetic security linked or weak-linked to underlying collateral. Ratings usually reflect the credit quality of the underlying securities.

SATURNS

An equity derivative linked to some stated collateral. The credit rating of SATURNS depends on the risk of the underlying collateral.
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NEW YORK -- Structured Asset Trust Unit Repackagings (SATURNS), General Electric Capital Corporation Debenture Backed Series 2002-14 Trust (the "Trust") (New York Stock Exchange Ticker Symbol "DKC"), announced today that it has received a notice of exercise notifying the Trust of the intended exercise of 100% of the outstanding Call Options representing the right to acquire 25,000 principal amount of the debentures (which represents 100% of the debentures held by the Trust), at a price equal to 100% of the principal amount of such debentures plus accrued interest for settlement on April 25, 2011 (the "Intended Settlement Date").
NEW YORK -- Structured Asset Trust Unit Repackagings (SATURNS), DPL Capital Security Backed Series 2002-3 Trust (the "Trust") (New York Stock Exchange Ticker Symbol "MJT"), announced today that it has received a notice of exercise notifying the Trust of the intended exercise of 100% of the outstanding Call Options representing the right to acquire 54,550 principal amount of the Bonds (which represents 100% of the Bonds held by the Trust), at a price equal to 100% of the principal amount of such Bonds plus accrued interest for settlement on February 22, 2011 (the "Intended Settlement Date").
NEW YORK -- Structured Asset Trust Unit Repackagings (SATURNS), DPL Capital Security Backed Series 2002-4 Trust (the "Trust") (New York Stock Exchange Ticker Symbol "MJV"), announced today that it has received a notice of exercise notifying the Trust of the intended exercise of 100% of the outstanding Call Options representing the right to acquire 42,500 principal amount of the Bonds (which represents 100% of the Bonds held by the Trust), at a price equal to 100% of the principal amount of such Bonds plus accrued interest for settlement on February 22, 2011 (the "Intended Settlement Date").
NEW YORK -- Structured Asset Trust Unit Repackagings (SATURNS), DPL Capital Security Backed Series 2002-7 Trust (the "Trust") (New York Stock Exchange Ticker Symbol "MJY"), announced today that it has received a notice of exercise notifying the Trust of the intended exercise of 100% of the outstanding Call Options representing the right to acquire 25,000 principal amount of the Bonds (which represents 100% of the Bonds held by the Trust), at a price equal to 100% of the principal amount of such Bonds plus accrued interest for settlement on February 22, 2011 (the "Intended Settlement Date").

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