-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PP+mTpFJ4kOgHwpQMi64E4rAUl08BKVrzHrtkYr1yCKz0tDEc+MwtloclNXf99dJ iA4co66A/ZZ3E1taFBf6Lg== 0000889812-99-001440.txt : 19990512 0000889812-99-001440.hdr.sgml : 19990512 ACCESSION NUMBER: 0000889812-99-001440 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990511 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: HYPERION 2002 TERM TRUST INC CENTRAL INDEX KEY: 0000890337 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 133680910 STATE OF INCORPORATION: DE FISCAL YEAR END: 0530 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-46183 FILM NUMBER: 99616546 BUSINESS ADDRESS: STREET 1: ONE LIBERTY PLAZA STREET 2: 165 BROADWAY, 36TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10006-1404 BUSINESS PHONE: 212-549-8400 MAIL ADDRESS: STREET 1: ONE LIBERTY PLAZA STREET 2: 165 BROADWAY, 36TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10006-1404 FORMER COMPANY: FORMER CONFORMED NAME: HYPERION TERM TRUST B INC DATE OF NAME CHANGE: 19600201 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: KARPUS MANAGEMENT INC CENTRAL INDEX KEY: 0001048703 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 161290558 STATE OF INCORPORATION: NY FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 14 TOBEY VILLAGE OFFICE PARK CITY: PITTSFORD STATE: NY ZIP: 14534 BUSINESS PHONE: 7165864680 SC 13D/A 1 AMENDMENT NO. 6 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities and Exchange Act of l934 (Amendment #6) HYPERION 2002 TERM TRUST, INC. (HTB) (Name of Issuer) 448915108 (CUSIP Number) George W. Karpus, President Karpus Management, Inc. d/b/a Karpus Investment Management 14 Tobey Village Office Park Pittsford, New York 14534 (716) 586-4680 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) May 6, 1999 (Date of Event which Requires Filing of this Statement) If the person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1 (b) (3) or (4), check the following box. [ ] (Page 1 of 4 pages) There are no exhibits. SCHEDULE 13D CUSIP No. 448915108 Page 2 of 4 Pages 1. Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person Karpus Management, Inc. d/b/a Karpus Investment Management I.D. #16-1290558 2. Check the Appropriate Box if a Member of a Group* (a) / / (b) /x/ 3. SEC Use Only 4. Source of Funds* AF 5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) / / 6. Citizenship or Place of Organization New York 7. Sole Voting Power 2,589,010 Number of Shares 8. Shared Voting Power Beneficially Owned by Each 9. Sole Dispositive Power Reporting Person 2,589,010 With 10. Shared Dispositive Power 11. Aggregate Amount Beneficially Owned by Each Reporting Person 2,589,010 12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* / / 13. Percent of Class Represented by Amount in Row (11) 7.63% 14. Type of Reporting Person* IA *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. ITEM 1 Security and Issuer Common Stock Hyperion 2002 Term Trust, Inc. Hyperion Capital Management, Inc. 1 Liberty Plaza 165 Broadway 36th floor New York, New York 10006 ITEM 2 Identity and Background a) Karpus Management, Inc, d/b/a/ Karpus Investment Management ("KIM") George W. Karpus, President, Director, and Controlling Stockholder JoAnn VanDegriff, Vice President and Director Sophie Karpus, Director b) 14 Tobey Village Office Park Pittsford, New York 14534 c) Principal business and occupation - Investment Management for individuals, pension and profit sharing plans, corporations, endowments trust and others, specializing in conservative asset management (i.e. fixed income). d) None of George W. Karpus, JoAnn VanDeGriff, or Sophie Karpus (the "Principals") or KIM has been convicted in the past five years of any criminal proceeding (excluding traffic violations). e) During the last five years none of the principals or KIM has been a party to a civil proceeding as a result of which any of them is subject to a judgement, decree, or final order enjoining future violations of or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. f) Each of the Principals is a United States citizen. KIM is a New York corporation. ITEM 3 Source and Amount of Funds or Other Condiderations KIM, an independent investment advisor, has accumulated shares of HTB on behalf of accounts that are managed by KIM ("the Accounts") under limited powers of attorney. All funds that have been utilized in making such purchases are from such Accounts. ITEM 4 Purpose of Transaction KIM has purchased Shares for investment purposes. Being primarily a fixed income manager, with a specialty focus in the closed end fund sector, the profile of HTB fit the investment guidelines for various Accounts. Shares have been acquired since September 19, 1993. ITEM 5 Interest in Securities of the Issuer a) As of the date of this Report, KIM owns 2,589,010 shares, which represents 7.63% of the outstanding shares. George W. Karpus (President of KIM) presently owns 4,000 shares (purchases of 6/1/95 600 shs.@ 7.25, 6/9/95 900 shares @ 7.375, 12/22/95 1,500 shares @ 7.125, 7/3/96 1,000 shares @ 6.875). Sophie Karpus (Director) purchased 1,000 shares 11/7/94 @ 6.375. JoAnn VanDeGriff (Vice-President and Director) purchased 12/19/96 200 shares @ 7.125 and 900 shares 12/20/96 @ 7.125. Karpus Investment Management Profit Sharing Plan Fund-B purchased 10/26/93 1,200 shares @ 7.75, 3/24/95 750 shares @6.875 and 3/27/95 250 shares @ 6.875. b) KIM has the sole power to dispose of and to vote all such Shares under limited powers of attorney. c) The first open market purchase occurred on February 8, 1995 as previously reported. There have been no dispositions and no acquisitions, other than by such open market purchases, during such period unless indicated. DATE SHARES PRICE PER DATE SHARES PRICE PER SHARE SHARE 3/2/99 3000 8.3125 4/6/99 -1250 8.4375 3/3/99 200 8.3125 4/8/99 5000 8.5 3/4/99 6900 8.3125 4/9/99 10700 8.4375 3/5/99 5175 8.3125 4/12/99 300 8.4375 3/5/99 -200 8.4125 4/13/99 5600 8.4375 3/8/99 3200 8.3125 4/13/99 -5000 8.4375 3/8/99 -1000 8.375 4/14/99 12000 8.4375 3/8/99 1000 8.375 4/15/99 2100 8.4375 3/9/99 -200 8.4372 4/16/99 5900 8.4375 3/10/99 -500 8.4372 4/16/99 1800 8.5 3/11/99 5000 8.375 4/19/99 9200 8.4375 3/12/99 9000 8.3125 4/20/99 15900 8.4375 3/12/99 275 8.375 4/21/99 6300 8.4375 3/15/99 -700 8.4372 4/22/99 4800 8.4375 3/15/99 400 8.3125 4/23/99 -2000 8.4375 3/16/99 -5000 8.4372 4/23/99 -10000 8.4375 3/16/99 7600 8.375 4/23/99 2000 8.4375 3/17/99 -1100 8.4372 4/29/99 2450 8.4375 3/17/99 10000 8.375 4/30/99 -2750 8.4375 3/18/99 3200 8.375 4/30/99 6300 8.4375 3/19/99 -15400 8.4372 3/19/99 200 8.375 3/19/99 15000 8.4375 3/22/99 10900 8.375 3/23/99 -950 8.375 3/23/99 22900 8.375 3/24/99 4100 8.375 3/24/99 200 8.405 3/25/99 1800 8.375 3/25/99 -2500 8.375 3/25/99 33600 8.375 3/29/99 2500 8.4375 3/30/99 -1500 8.375 3/30/99 3000 8.4375 * THE 10,000 SHARES FROM 04-23-99 WERE TRANSFERRED OUT OF OUR CLIENT'S ACCOUNT. The Accounts have the right to receive all dividends from. any proceeds for the sale of the Shares. KIM reserves the right to further accumulate or sell shares. None of the Accounts has an interest in shares constituting more than 5% of the Share outstanding. ITEM 6 Contracts, Arrangements, Understandings, or Relationships with Respect to Securities of the Issuer. Except as described above, there are no contracts, arrangements, understandings or relationships of any kind among the Principals and KIM and between any of them and any other person with respect to any of HTB securities. ITEM 7 Materials to be filed as Exhibits Not applicable. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in the statement is true, complete, and correct. Karpus Management, Inc. May 6, 1999 By: /s/ George W. Karpus - ----------- ------------------------------- Date Signature George W. Karpus, President ------------------------------- Name / Title -----END PRIVACY-ENHANCED MESSAGE-----