Exhibit 99.1
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To the Holders of
Trust Certificates (TRUCs), Series 2002-1
*CUSIP: 00000X000
In accordance with Section 4.03 of the Standard Terms for Trust Agreements
dated as of June 19, 2001 as supplemented by the Series Supplement Trust
Certificates (TRUCs) Series 2002-1 Trust dated as of March 28, 2002 between
Bear Xxxxxxx Depositor Inc., as Depositor, and U.S. Bank Trust National
Association, as Trustee, U.S. Bank Trust National Association, as Trustee of
the Trust Certificates (TRUCs), Series 2002-1 Trust hereby gives notice with
respect to the distribution occurring on November 15, 2006 (the "Distribution
Date") as follows:
(i) the amount received by the Trustee in respect of principal, interest
and premium on the Underlying Securities during the period ending on
the Distribution Date is as follows:
Principal: $ 0.00
Premium: $ 0.00
Interest: $ 1,237,005.00
(ii) the amount of the distribution on the Distribution Date to holders of
TRUCs allocable to principal of and premium, if any, and interest or
dividends was as follows:
Class A-1
Principal: $ 0.00
Premium: $ 0.00
Interest: $ 0.00
Dividends: $ 1,232,000.00
Dividends Per $25 unit: $ 0.9625
(iii) the Trustee received no compensation from the Trust for the period
relating to the Distribution Date, however, $5,005.00 (or $0.003910
per $25 unit) was remitted to the Depositor for the payment of Trust
Expenses in accordance with Section 5 (a) (i) (3) of the Series
Supplement.
(iv) the Underlying Securities are $32,130,000 principal amount of Ford
Motor Company. 7.70% Debentures due May 15, 2097 (*CUSIP: 000000XX0)
and the current rating of such Underlying Securities by Standard &
Poor's Ratings Services is "CCC+" and by Xxxxx'x Investors Service,
Inc. is "Caa1". Ford Motor Company, the issuer of the underlying
securities, is subject to the information reporting requirements of the
Securities Exchange Act of 1934 (the "Exchange Act"). For information
on Ford Motor Company, refer to the current and periodic reports and
other information required to be filed pursuant to the Exchange Act
by Ford Motor Company under its Exchange Act file number, 001-03950.
The Commission maintains a site on the World Wide Web at
xxxx://xxx.xxx.xxx" 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 (XXXXX) system. Neither Bear Xxxxxxx Depositor Inc. nor the
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Trustee has participated in the preparation of such reporting
documents, or made any due diligence investigation with respect to
the information provided therein. Neither Bear Xxxxxxx Depositor Inc.
nor the Trustee has verified the accuracy or completeness of such
documents or reports. There can be no assurance that events affecting
Ford Motor Company 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.
(v) the aggregate Certificate Principal Balance of the TRUCs at the close
of business on the Distribution Date was as set forth below:
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Class A-1
$32,000,000 (1,280,000 $25 units)
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U.S. Bank Trust National Association, as Trustee
November 15, 2006
*The Trustee shall not be held responsible for the selection or use of the
CUSIP numbers nor is any representation made as to its correctness. It is
included solely for the convenience of the Holders.
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