8-K: Goldman Sachs Trust Distributes $431,333.10 to Certificate Holders
Trust Distribution Report
A distribution of $431,333.10 was made to holders of the Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Series 2004-6 Trust on August 15, 2024.
Summary
- On August 15, 2024, a distribution was made to the holders of the Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Series 2004-6 Trust.
- The total distribution amount was $431,333.10, which came from scheduled income received on the underlying securities.
- 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: 7
Explanation: The document reports a routine distribution, which is positive for certificate holders. There are no indications of significant issues, but the reliance on external information and the age of the trust warrant a slightly cautious sentiment.
Positives
- The trust successfully made a scheduled distribution to its certificate holders.
- The trust received scheduled income from its underlying securities.
Risks
- The document notes that neither Lehman ABS Corporation nor the Trustee has verified the accuracy or completeness of the reports from The Goldman Sachs Group, Inc.
- There is no assurance that events affecting the issuer of the underlying securities have not occurred or have not yet been publicly disclosed.
Future Outlook
The document does not contain any specific forward-looking statements or guidance.
Management Comments
- In preparing this report the Registrant has relied on information provided to it by the Trustee.
Industry Context
This announcement is typical for a structured finance trust, detailing a scheduled distribution to certificate holders. The trust's reliance on information from the trustee and the underlying issuer is standard practice.
Comparison to Industry Standards
- The structure of this trust, with a swap agreement and underlying securities, is common in the structured finance industry.
- The distribution process and reporting are consistent with standard practices for similar trusts.
- The reliance on the issuer of the underlying securities for information is also a common practice in the industry.
- Comparable trusts include those backed by other large financial institutions' debt, such as those issued by JP Morgan Chase or Bank of America.
Stakeholder Impact
- Certificate holders received a scheduled distribution of $431,333.10.
- The trust continues to operate as per its established terms.
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. |
| February 15, 2024 | Balance date for the interest and principal accounts, and date of underlying securities held. |
| August 15, 2024 | Date of the distribution to certificate holders and end of the reporting period. |
| August 28, 2024 | Date of the 8-K filing. |
Keywords
Trust Certificates, Distribution, Goldman Sachs, Securities, Lehman Brothers, Swap Agreement, Income, Capital Securities
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