Goldman Sachs A-1, A-2 corporate-backed trust certificates called

By Angela McDaniels

Tacoma, Wash., April 10 - Some call warrant holders have exercised their rights to purchase some of Goldman Sachs Capital I Securities-Backed Series 2004-4 Trust's corporate-backed trust certificates, according to a news release from trustee U.S. Bank Trust NA.

Specifically, they exercised their rights to purchase 1.2 million of the 3.8 million total outstanding class A-1 corporate-backed trust certificates and $1,290,300 initial amortizing notional balance of the total outstanding $4,085,875 initial amortizing notional balance class A-2 corporate-backed trust certificates on April 15 and effect an optional exchange for $30 million face amount of the total $95 million face amount of Goldman Sachs Capital I 6.345% capital securities due Feb. 15, 2034 held as the underlying securities by the trust.

If the trustee receives the call price from the warrant holders by 10 a.m. ET on April 15, then the class A-1 certificates and class A-2 certificates described above will be selected for redemption. The redemption price for each class A-1 certificate will be $25.00 principal plus $0.25 of accrued interest. The redemption price for each $1,000 stated initial amortizing notional balance of class A-2 certificates will be $866.48940556 of interest.

The total redemption payment will be $31,418,031.28, consisting of $30 million principal and $300,000 of accrued interest on the class A-1 certificates and $1,118,031.28 of interest on the class A-2 certificates.

If the trustee does not receive the call price, the certificates issued by the trust will continue to accrue interest as if no exercise notice had been given and the call warrant holder may elect to deliver a conditional notice of exercise in the future.

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