UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 10-K
FOR ANNUAL AND TRANSITION REPORTS
PURSUANT TO SECTIONS 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Mark One)
/X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2003
or
/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURI-
TIES EXCHANGE ACT OF 1934
For the transition period from ________ to ________
Commission File Number: 001-31876
Lehman ABS Corporation,
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on behalf of:
Corporate Backed Trust Certificates, Series 2001-23 Trust
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(Exact name of registrant as specified in its charter)
Delaware 13-3447441
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(State or other jurisdiction (I.R.S. Employer Identification No.)
of incorporation or organization)
745 Seventh Avenue, New York, New York 10019
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 526-7000
Securities registered pursuant to Section 12(b) of the Act:
Title of Class Name of Registered Exchange
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Corporate Backed Trust Certificates, New York Stock Exchange ("NYSE")
Series 2001-23
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the registrant: (1) Has filed all reports
required to be filed by section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
file requirements for the past 90 days.
Yes /X/ No / /
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to
this Form 10-K. /X/
Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12b-2 of the Act).
Yes / / No /X/
State the aggregate market value of the voting and non-voting common equity
held by non-affiliates computed by reference to the price at which the common
equity was last sold, or the average bid and asked price of such common
equity, as of the last business day of the registrant's most recently
completed second fiscal quarter:
The registrant has no voting stock or class of common stock that is held
by non-affiliates.
DOCUMENTS INCORPORATED BY REFERENCE
The distribution reports to security holders filed on Form 8-K during the
fiscal year in lieu of reports on Form 10-Q which includes the reports filed
on Form 8-K listed in Item 15(b) hereto.
Introductory Note
Lehman ABS Corporation (the "Depositor") is the Depositor in respect of the
Corporate Backed Trust Certificates, Series 2001-23 Trust (the "Trust"), a
common law trust formed pursuant to the Standard Terms for Trust Agreements,
dated as of January 16, 2001, between the Depositor and U.S. Bank Trust
National Association, as trustee (the "Trustee"), as supplemented by a Series
Supplement (the "Series Supplement") dated as of June 1, 2001 in respect of
the Trust. The Trust's assets consist solely of debentures issued by Ryder
System, Inc. The Certificates do not represent obligations of or interests in
the Depositor or the Trustee.
Ryder System, Inc., the issuer of the underlying securities, is subject to the
information reporting requirements of the Securities Exchange Act of 1934, as
amended, (the "Exchange Act"). For information on the issuer of the underlying
securities, please see its periodic and current reports filed with the
Securities and Exchange Commission (the "Commission") under Ryder System,
Inc.'s Exchange Act file number, 001-04364. Periodic and current reports and
other information required to be filed pursuant to the Exchange Act by Ryder
System, Inc. may be inspected and copied at the public reference facilities
maintained by the Securities and Exchange Commission at 450 Fifth Street,
N.W., Washington, D.C. 20549. The Commission also maintains a site on the
World Wide Web at "http://www.sec.gov" at which users can view and download
copies of reports, proxy and information statements and other information
filed electronically through the Electronic Data Gathering, Analysis and
Retrieval system, or "EDGAR." Neither the Depositor nor the Trustee has
participated in the preparation of such reporting documents, or made any due
diligence investigation with respect to the information provided therein.
Neither the Depositor nor the Trustee has verified the accuracy or
completeness of such documents or reports. There can be no assurance that
events affecting the issuer of the underlying securities or the underlying
securities have not occurred or have not yet been publicly disclosed which
would affect the accuracy or completeness of the publicly available documents
described above.
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PART I
Item 1. Business.
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Not Applicable
Item 2. Properties.
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Not Applicable
Item 3. Legal Proceedings.
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None
Item 4. Submission of Matters To A Vote of Security Holders.
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None
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters.
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The publicly offered Certificates representing investors' interest in
the Trust are represented by one or more physical Certificates registered in
the name of "Cede & Co.", the nominee of The Depository Trust Company. Those
publicly offered Certificates are listed on the NYSE.
Item 6. Selected Financial Data.
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Not Applicable
Item 7. Management's Discussion and Analysis of Financial Condition and
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Results of Operations.
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Not Applicable
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
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Not Applicable
Item 8. Financial Statements and Supplementary Data.
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Not Applicable
Item 9. Changes In and Disagreements With Accountants on Accounting and
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Financial Disclosure.
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None
Item 9A. Controls and Procedures.
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Not Applicable
PART III
Item 10. Directors and Executive Officers of the Registrant.
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Not Applicable
Item 11. Executive Compensation.
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Not Applicable
Item 12. Security Ownership of Certain Beneficial Owners and Management.
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Not Applicable
Item 13. Certain Relationships and Related Transactions.
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None
Item 14. Principal Accounting Fees and Services.
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Not Applicable
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PART IV
Item 15. Exhibits, Financial Statements, Schedules and Reports on Form 8-K.
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(a) The following documents have been filed as part of this report.
1. Trustee's Distribution Statements documented on Form 8-K
regarding the distributions from the Trust to the
certificateholders for the period from January 1, 2003 through
and including December 31, 2003 have been filed with the
Securities and Exchange Commission and are hereby incorporated
by reference. Filing dates are listed in Item 15(b) below.
2. None
3. Exhibits:
99.1 - Certification by Senior Vice President of the Registrant
pursuant to 15 U.S.C. Section 7241, as adopted pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002.
99.2 - Annual Compliance Report by Trustee pursuant to 15
U.S.C. Section 7241, as adopted pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
(b) The following reports on Form 8-K were filed during the period
covered by this report:
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Trust Description Distribution Date Filed on
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Corporate Backed Trust Certificates, 12/01/2002 01/07/2003
Series 2001-23 Trust 06/01/2003 06/16/2003
12/10/2003 12/01/2003
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(c) See Item 15(a) above.
(d) Not Applicable.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Lehman ABS Corporation, as Depositor for the
Trust (the "Registrant")
Dated: March 29, 2004 By: /s/ PAUL MITROKOSTAS
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Name: Paul Mitrokostas
Title: Senior Vice President
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EXHIBIT INDEX
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Reference Exhibit Number
Number per Description of Exhibits in this Form 10-K
Item 601 of
Regulation SK
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Certification by Senior Vice President of the
(99.1) Registrant pursuant to 15 U.S.C. Section 7241, 99.1
as adopted pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
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Annual Compliance Report by Trustee pursuant to
(99.2) 15 U.S.C. Section 7241, as adopted pursuant to 99.2
Section 302 of the Sarbanes-Oxley Act of 2002.
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