-----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, EuwV+XtX217N2R0ngKyQa1Dd26WHUbiwVyxIhvvOAaK5EeyNw/YKY7SvQv8G09b3 a01EXORyQx9a9MwuSFyPZw== 0000842907-01-500003.txt : 20010330 0000842907-01-500003.hdr.sgml : 20010330 ACCESSION NUMBER: 0000842907-01-500003 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20001231 FILED AS OF DATE: 20010329 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GOVERNMENT BACKED TRUST T 4 CENTRAL INDEX KEY: 0000842907 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 136938175 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: SEC FILE NUMBER: 000-18010 FILM NUMBER: 1584355 BUSINESS ADDRESS: STREET 1: 450 WEST 33RD STREET STREET 2: CORPORATE TRUSTEE ADMINISTRATION DEP CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 2129468068 MAIL ADDRESS: STREET 1: C/O CHEMICAL BANK STREET 2: 450 WEST 33RD ST, 15TH FL CITY: NEW YORK STATE: NY ZIP: 10001 10-K 1 t410k2000.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 10-K Annual report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 For the Fiscal year ended December 31, 2000 GOVERNMENT BACKED TRUST T-4 (Exact name of Registrant as specified in its governing instrument) State or other jurisdiction of incorporation: New York Commission File Number: 0-18010 IRS Employer Identification No.: 13-6938175 c/o J.P. Morgan Chase Corporate Trustee Administration 450 West 33rd Street New York, New York 10001 (212) 946-8608 _________________________ (Address, including zip code, and telephone number of principal executive offices ) Securities Registered Pursuant to Section 12(g) of the Act : Zero Coupon Certificates, Class T-4 ( Title of Class ) 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 such filing requirements for the past 90 days. Yes X No DOCUMENTS INCLUDED AS EXHIBITS Semiannual Report as of May 15, 2000 Exhibit B Semiannual Report as of November 15, 2000 Exhibit C Annual Report as of December 29, 2000 Exhibit D Part I Item 1. Business Not Applicable . Item 2. Properties . See list of assets set forth in Exhibit A. Item 3. Legal Proceedings. None Item 4. Submission of Matters to a Vote of Security Holders. None PART II Item 5. Market for Registrant's Common Equity and Related Stockholder Matters . (a) Market Information . Certificates are not traded on any market or exchange. (b) Holders . The number of registered holders for Zero Coupon Certificates, Class T-4 on December 31, 2000 was 250. (c) Dividends . $17,610,000.00 distributed to holders for Zero Coupon Certificates, Class T-4 on May 15, 2000. $20,673,000.00 distributed to holders for Zero Coupon Certificates, Class T-4 on November 15, 2000. Item 6. Selected Financial Data Not Applicable. Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations . Not Applicable. Item 8. Financial Statements and Supplementary Data. Not Applicable. Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. Not Applicable. PART III Item 10. Directors and Executive Officers of the Registrant. Not Applicable. Item 11. Executive Compensation . Not Applicable. Item 12 . Security Ownership of Certain Beneficial Owners and Management (a) Security ownership of certain beneficial owners. ______________________________________________________________________________ (1) Title of (2) Name and (3) Amount and (4) Percent Class address nature of of class of benefi- Beneficial cial owner ownership ______________________________________________________________________________ Zero Coupon Cede & Co. $379,771,000 98.63% Certificates, P.O. Box 20 Class T-4 Bowling Green Station New York, NY 10004 ______________________________________________________________________________ (b) Security ownership of management Not Applicable. (c) Changes in control. Not Applicable. Item 13. Certain Relationships and Related Transactions. (a) Transactions with management and others. Not Applicable. (b) Certain business relationships. Not Applicable . (c) Indebtedness of management . Not Applicable . (d) Transactions with promoters. Not Applicable . PART IV Item 14. Exhibits, Financial Schedules, Reports on Form 8-K. (a) The following is a list of documents filed as part of this report : Exhibit Document A List of Assets held by Trust on December 31, 2000 B Semiannual Report as of May 15, 2000 C Semiannual Report as of November 15, 2000 D Annual Report as of December 29, 2000 (b) Not applicable (c) Not applicable SIGNATURES Pursuant to the requirements of Section 13 or 15(d) 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. Government Backed Trust T-4 (Registrant) By : ______Dennis Kildea____________________ Assistant Vice President Date : March 29, 2001 Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By : ______Andrew Taylor_____________________ Vice President Date : March 29, 2001 By : ______Dennis Kildea__________________ Assistant Vice President Date : March 29, 2001 Exhibit A THE REPUBLIC OF TURKEY GOVERNMENT TRUST T-4 U. S. Government Securities Maturity Par Amount Coupon May 15, 2001 3,245,000 0.000 November 15, 2001 3,745,000 0.000 May 15, 2002 4,052,000 0.000 November 15, 2002 4,181,000 0.000 May 15, 2003 4,040,000 0.000 November 15, 2003 3,897,000 0.000 May 15, 2004 3,267,000 0.000 November 15, 2004 1,855,000 0.000 May 15, 2005 1,334,000 0.000 November 15, 2005 1,290,000 0.000 May 15, 2006 1,080,000 0.000 November 15, 2006 869,000 0.000 May 15, 2007 842,000 0.000 November 15, 2007 813,000 0.000 May 15, 2008 758,000 0.000 November 15, 2008 637,000 0.000 May 15, 2009 613,000 0.000 November 15, 2009 590,000 0.000 May 15, 2010 372,000 0.000 November 15, 2010 164,000 0.000 May 15, 2011 159,000 0.000 November 15, 2011 153,000 0.000 May 15, 2012 147,000 0.000 November 15, 2012 142,000 0.000 May 15, 2013 137,000 0.000 November 15, 2013 131,000 0.000 Government of Turkey T-4 Note Principal Amount Rate of Outstanding Interest Due Date $293,064,296.76 8.8154% November 15, 2013 Exhibit B THE CHASE MANHATTAN BANK 450 West 33rd Street New York , New York 10001 Trustee's Semiannual Report To the Holders of Government Backed Trust T-4 Zero Coupon Certificates ( Republic of Turkey FMS Refinancing ) and Defense Security Assistance Agency The Pentagon Washington , DC 20301-2800 Attention of the Comptroller, DSAA i. On May 15, 2000, the Certificate Payment Date, the aggregate amount distributed to the Holders was $17,610,000.00. The portions thereof allocable to the principal and interest payments on the Related Note was $15,849,000.00 and to payments from the Securities Trust was $1,761,000.00. ii. The aggregate Initial Amount of the Certificates issued by such Trust and remaining outstanding after such distribution is $405,720,000.00. iii. The unpaid principal amount of the Related Note following such distribution is $300,501,296.76. iv. The sum of the amount referred to in (i) above, plus the amount paid to the Trustee in respect of the Trustee's fees and expenses was not less than the sum of ninety percent (90%) of the amount required to have been paid by the Borrower on the Related Note(s) on the immediately preceding Note Payment Date plus the payment received by the Trustee from the related Securities Trust on the Certificate Payment Date. No Payment Default has occurred and is continuing since our previous report. To the best of my knowledge and belief, this Semiannual Report is complete and accurate. By: __________________ Dennis Kildea Assistant Vice President Report dated as of May 15, 2000 (Tax ID No. 13-6938175) Exhibit C THE CHASE MANHATTAN BANK 450 West 33rd Street New York , New York 10001 Trustee's Semiannual Report To the Holders of: Government Backed Trust T-4 Zero Coupon Certificates ( Republic of Turkey FMS Refinancing ) and Defense Security Assistance Agency The Pentagon Washington , DC 20301-2800 Attention of the Comptroller, DSAA i. On November 15, 2000, the Certificate Payment Date, the aggregate amount distributed to the Holders was $20,673,000.00. The portions thereof allocable to the principal and interest payments on the Related Note was $18,604,000.00 and to payments from the Securities Trust was $2,069,000.00. ii. The aggregate Initial Amount of the Certificates issued by such Trust and remaining outstanding after such distribution is $385,047,000.00. iii. The unpaid principal amount of the Related Note following such distribution is $293,064,296.76. iv. The sum of the amount referred to in (i) above, plus the amount paid to the Trustee in respect of the Trustee's fees and expenses was not less than the sum of ninety percent (90%) of the amount required to have been paid by the Borrower on the Related Note(s) on the immediately preceding Note Payment Date plus the payment received by the Trustee from the related Securities Trust in respect of such Certificate Payment Date. No Payment Default has occurred and is continuing since our previous report. To the best of my knowledge and belief, this Semiannual Report is complete and accurate. All capitalized terms used herein have the meanings assigned to them in the Declaration of Trust dated as of September 15, 1989. By: __________________ Dennis Kildea Assistant Vice President Report dated as of November 15, 2000 (Tax ID No. 13-6938175) Exhibit D THE CHASE MANHATTAN BANK 450 West 33rd Street New York, New York 10001 Trustee's Annual Report To the holders of: - - Government Backed Trust T-4 Zero Coupon Certificates, Class T-4 (Republic of Turkey FMS Refinancing) - - Defense Security Assistance Agency The Pentagon Washington, D.C. 20301-2800 Attention of the Comptroller , DSAA i. During the year ending December 31, 2000, $38,283,000.00 was distributed to the holders of the Zero Coupon Certificates and this amount is allocable as follows: a. 90% from interest and principal payments made on the Republic of Turkey Promissory Note on May 1, 2000 and November 1, 2000. b. 10% from the proceeds of maturities of United States Treasury Strips due May 15, 2000 and November 15, 2000. ii. The aggregate Initial Amount of the Certificates issued by such Trust and remaining outstanding after such distributions is $385,047,000.00. iii. The unpaid principal amount of the Republic of Turkey Promissory Note following the May 15, 2000 and November 15, 2000 distributions is $293,064,296.76. iv. The sum of the amount referred to in (i), above, plus the amount paid to the Trustee in respect of the Trustee's fees and expenses was not less than the sum of ninety percent (90%) of the amount required to have been paid by the Borrower on the Related Note(s) on the immediately preceding Note Payment Dates plus the payment received by the Trustee from the Related Securities Trust in respect of such Certificate Payment Dates. Please be advised that no Payment Default has occurred and is continuing with respect to the May 15, 2000 and November 15, 2000 Certificate Payment Dates. There have been no payments under the Guaranty with respect to the May 1, 2000 and November 1, 2000 Note Payment Dates next preceding the May 15, 2000 and November 15, 2000 Certificate Payment Dates. To the best of my knowledge and belief, this Annual Report is complete and accurate. All capitalized terms used herein have the meanings assigned to them in the Declaration of Trust dated as of September 15, 1989. By ___________________________ Dennis Kildea Assistant Vice President Report dated as of December 29, 2000 Tax I.D. No. 13-6938175 REPORT OF INDEPENDENT AUDITORS The Chase Manhattan Bank, Trustee Government Backed Trust T-4 We have audited the accompanying Distribution Report of Government Backed Trust T-4 as of December 31, 2000 and for the year then ended. This schedule is the responsibility of the Trustee. Our responsibility is to express an opinion on this schedule based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the Distribution Report is free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the Distribution Report. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall schedule presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the Distribution Report referred to above presents fairly, in all material respects, amounts distributed to certificate holders, the aggregate initial amount of certificates outstanding, the unpaid principal amount of the promissory note and funds compared with amounts distributed from Government Backed Trust T-4 at December 31, 2000 and for the year then ended, in conformity with accounting principles generally accepted in the United States. /s/ Ernst & Young LLP March 7, 2001 DISTRIBUTION REPORT GOVERNMENT BACKED TRUST T-4 As of and for the Year Ended December 31, 2000 I. During the year ended December 31, 2000, $38,283,000.00 was distributed to the Holders of the Zero Coupon Certificates and this amount is allocable as follows: 1. 90% from principal and interest payments made on The Republic of Turkey Promissory Note on May 1, 2000 and November 1, 2000. 2. 10% from the proceeds of maturities of United States Treasury Strips due May 15, 2000 and November 15, 2000. II. The aggregate Initial Amount of Certificates issued by the Trust outstanding after the May 15, 2000 and November 15, 2000 distributions is $385,047,000.00. III. The unpaid principal amount of The Republic of Turkey Promissory Note following the May 15, 2000 and November 15, 2000 distributions is $293,064,296.76. IV. The amount in (I) above, together with the Trustee's fees and expenses equals the sum of 90% of the amounts paid by the Republic of Turkey on the Note on May 1, 2000 and November 1, 2000 and the payments received by the Trustee from the Securities Trust on May 15, 2000 and November 15, 2000. See notes to distribution report. NOTES TO DISTRIBUTION REPORT GOVERNMENT BACKED TRUST T-4 December 31, 2000 NOTE A--ORGANIZATION AND OPERATION Government Backed Trust T-4 (the Trust) was formed in September 1989 by The Chase Manhattan Bank (Successor to Chemical Bank), as Trustee, to issue Certificates (see Note B), the proceeds of which were used to loan funds evidenced by a Note (see Note C) from the Republic of Turkey (Borrower) and to purchase a beneficial interest in a government securities trust (Securities Trust), for which The Chase Manhattan Bank also acts as Trustee. The Trust was created for the limited purpose of conducting transactions relating to the Certificates, the Note and the Securities Trust. All capitalized terms used in the Distribution Report are as defined in the Declaration of Trust dated as of September 15, 1989. NOTE B--CURRENT COUPON CERTIFICATES The Trust issued Zero Coupon Certificates (the Certificates) with an aggregate principal amount of $832,215,000. Each Certificate represents an interest in specific payments of principal and/or interest on the assets of the Trust. The Holder of each of the Certificates is entitled to receive a single payment on the date indicated in such Certificate. The Trust is required to distribute to the Certificate holders all funds held by the Trust, which would consist of an amount equal to 90% of the principal and interest required to be paid by the Borrower on the Related Note (see Note C), any payments received with respect to the Guaranty (see Note C), and payments from the related Securities Trust, less amounts paid to the Trustee for periodic fees and expenses. The government securities held for the benefit of the Trust consist of U.S. Treasury Strips and are calculated to provide the Trust on or before each Certificate Payment Date with funds equal to at least 10% of the principal and/or interest payment due on the related Note on the next preceding Note Payment Date. The payments to the Holders of the Certificates in the next five years and thereafter are as follows: Maturity Date Aggregate Maturity of Series Amount of Series May 15, 2001 32,444,000 November 15, 2001 37,446,000 May 15, 2002 40,508,000 November 15, 2002 41,806,000 May 15, 2003 40,389,000 November 15, 2003 38,972,000 May 15, 2004 32,663,000 November 15, 2004 18,551,000 May 15, 2005 13,329,000 November 15, 2005 12,898,000 Thereafter 76,041,000 ____________ Total $385,047,000 NOTES TO DISTRIBUTION REPORT--Continued GOVERNMENT BACKED TRUST T-4 NOTE C--PROMISSORY NOTE The Promissory Note is due November 15, 2013. Interest of 8.8154% is payable by the Borrower semi-annually on each Note Payment Date, which is the tenth business day before a Certificate Payment Date (see Note B). Principal is payable by the Borrower ten business days prior to each Certificate Payment Date set forth below in the following amounts: Payment Date Amount May 2001 19,536,000 November 2001 25,398,000 May 2002 29,578,000 November 2002 32,180,000 May 2003 32,180,000 November 2003 32,180,000 May 2004 27,289,000 November 2004 14,379,000 May 2005 9,790,000 November 2005 9,790,000 Thereafter 60,764,297 ___________ Total $293,064,297 The Borrower is required to remit to the Trust 100% of the amounts of principal and interest due on the Note. However, to the extent that these payments from the Borrower and payments from the related Securities Trust, less the amount paid to the Trustee for periodic fees and expenses, exceed the required Certificate Payment, the excess funds will be returned to the Borrower semi-annually. Should a draw be made on the Guaranty, any excess funds would be remitted to the Defense Security Assistance Agency of the Department of Defense. The United States of America, acting through the Defense Security Assistance Agency of the Department of Defense, has guaranteed the punctual payment of 90% of all principal and interest due on the Note. -----END PRIVACY-ENHANCED MESSAGE-----