8-K: Goldman Sachs Capital I Securities-Backed Trust Distributes $431,333 to Certificate Holders
Current Report (8-K)
Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Series 2004-6 Trust announces a distribution of $431,333.10 to certificate holders for the period ending February 18, 2025.
Summary
- SCS LABS Corporation, on behalf of Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Series 2004-6 Trust, filed a Form 8-K report on February 18, 2025.
- The report details a distribution made to the holders of the trust certificates.
- The distribution amount totaled $431,333.10 from the interest account.
- The trust holds $13,596,000 in Goldman Sachs Capital I, 6.345% Capital Securities due February 15, 2034.
- The trust also has a swap agreement with Lehman Brothers Special Financing Inc. with a notional amount of $13,596,000.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The document reports a routine distribution, but also highlights the reliance on third-party information and potential risks associated with the underlying assets.
Positives
- The trust is making distributions to certificate holders, indicating ongoing income generation from its assets.
Risks
- The report mentions that neither Lehman ABS Corporation nor the Trustee has verified the accuracy or completeness of the information regarding The Goldman Sachs Group, Inc.
- There is no assurance that events affecting the issuer of the underlying securities, the issuer of the junior subordinated debentures or the underlying securities themselves have not occurred or have not yet been publicly disclosed which would affect the accuracy or completeness of the publicly available documents described above.
Future Outlook
The document does not contain specific forward-looking statements beyond the scheduled maturity of the held securities.
Industry Context
This announcement reflects the ongoing management and distribution of assets within a structured finance vehicle. The performance and distributions are tied to the underlying Goldman Sachs Capital I securities and the related swap agreement.
Comparison to Industry Standards
- It's difficult to compare this specific trust to industry standards without knowing the original issuance terms and performance benchmarks.
- Similar corporate-backed trust structures exist, but their performance is highly dependent on the creditworthiness and performance of the underlying assets (in this case, Goldman Sachs Capital I securities).
- Benchmarking would require comparing the distribution yield to similar securities with comparable risk profiles.
Stakeholder Impact
- Certificate holders receive a distribution of $431,333.10.
- The Trustee, U.S. Bank Trust National Association, continues to administer the trust.
Key Dates
| Date | Description |
|---|---|
| January 16, 2001 | Date of the Standard Terms for Trust Agreements between Lehman ABS Corporation and U.S. Bank Trust National Association. |
| March 19, 2004 | Date of the Series Supplement in respect of the Trust and the Swap Agreement between the Trust and Lehman Brothers Special Financing Inc. |
| August 2022 | Lehman ABS Corporation changed its name to SCS LABS Corporation. |
| August 15, 2024 | Date of the previous balance reporting for the interest and principal accounts. |
| February 18, 2025 | Date of the distribution to certificate holders and the filing of the 8-K report. |
| February 15, 2034 | Maturity date of the Goldman Sachs Capital I, 6.345% Capital Securities. |
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