SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 12 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 12, 1999
MERIT Securities Corporation
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(Exact name of registrant as specified in charter)
Virginia 03992 54-1736551
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
10900 Nuckols Road, 3rd Floor, Glen Allen, Virginia 23060
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (804) 217-5800
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Item 1. Changes in Control of Registrant.
Not Applicable.
Item 2. Acquisition or Disposition of Assets.
Not Applicable.
Item 3. Bankruptcy or Receivership.
Not Applicable.
Item 4. Changes in Registrant's Certifying Accountant.
Not Applicable.
Item 5. Other Events.
On November 12, 1999, the Registrant issued $373,549,000 principal
amount of Class 1-A and Class 1-M Bonds (the "Registered Bonds") pursuant to the
Series 14 Supplement dated as of November 1, 1999 (the "Series 14 Supplement"),
to the Indenture dated as of November 1, 1994, as amended by a First
Supplemental Indentured dated as of December 1, 1997 (the "Original Indenture"
and, collectively with the Series 14 Supplement, the "Indenture"), between the
Registrant and Chase Bank of Texas, National Association, as trustee (the
"Trustee"). Capitalized terms used but not defined herein shall have the
meanings assigned to them in the Indenture. The initial principal amounts, Class
Interest Rates and the Stated Maturities of the Registered Bonds are as follows:
Original Class Interest Stated
Designation Principal Amount Rate Maturity
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Class 1-A $363,069,000 Variable January 28, 2027
Class 1-M 10,480,000 Variable November 28, 2031
As security for the Registered Bonds, the Registrant pledged a pool of
home mortgage loans to the Trustee pursuant to the Indenture.
The Registered Bonds have been sold by the Registrant to Lehman
Brothers Inc. (the "Underwriter") pursuant to an Underwriting Agreement dated as
of November 10, 1999, between the Underwriter and the Registrant.
Item 6. Resignations of Registrant's Directors.
Not Applicable.
Item 7. Financial Statements, Pro Forma, Financial Information and Exhibits
(a) Not Applicable.
(b) Not Applicable.
(c) Exhibits
SIGNATURES
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.
November 24, 1999
MERIT Securities Corporation
By: /s/ Lisa R. Cooke
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Lisa R. Cooke, Vice President