-----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, AEKUUwUoatmmZMSmnF0Q9dInetsfbcDd0oKpvgr/3/KawPilN7ql1HxsoaNdp97y cySCFxoHy410n6GUBLrGeg== 0000882377-98-000350.txt : 19980626 0000882377-98-000350.hdr.sgml : 19980626 ACCESSION NUMBER: 0000882377-98-000350 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980625 ITEM INFORMATION: ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980625 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHERN PACIFIC SECURED ASSETS CORP CENTRAL INDEX KEY: 0000944743 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 330659688 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 033-91756 FILM NUMBER: 98653687 BUSINESS ADDRESS: STREET 1: 4949 MEADOWS ROAD STREET 2: SUITE 600 CITY: LAKE OSWEGO STATE: OR ZIP: 97035 BUSINESS PHONE: 5033035400 MAIL ADDRESS: STREET 1: ONE CENTERPOINTE DRIVE STREET 2: SUITE 500 CITY: LAKE OSWEGO STATE: OR ZIP: 97035 8-K 1 SOUTHERN PACIFIC SECURED ASSETS CORP. ================================================================================ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 25, 1998 SOUTHERN PACIFIC SECURED ASSETS CORP. (as depositor under an Amended and Restated Trust Agreement, dated June 25, 1998, and pursuant to which an Indenture was entered into, providing for, inter alia, the issuance of Collateralized Asset-Backed Notes, Series 1998-H1) SOUTHERN PACIFIC SECURED ASSETS CORP. (Exact name of Registrant as specified in its charter) California 333-52577 33-0659688 - ---------------------------- ----------- ------------------ (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No.) 4949 Meadows Road, Suite 600 Lake Oswego, Oregon 97035 (Address of Principal (Zip Code) Executive Offices) Registrant's telephone number, including area code, is (503) 303-5400 ================================================================================ Item 2. ACQUISITION OR DISPOSITION OF ASSETS. For a description of the Notes and the Mortgage Pool, refer to the Indenture. Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (a) Not applicable (b) Not applicable (c) Exhibits: ITEM 601(A) OF REGULATION S-K EXHIBIT NO. EXHIBIT NO. DESCRIPTION - ----------- ----------- ----------- 1 99 Computational Materials-- Computational Materials (as defined in Item 5) that have been provided by the Underwriter to certain prospective purchasers of Southern Pacific Secured Assets Corp. Collateralized Asset- Backed Notes, Series 1998-H1 (filed in paper pursuant to the automatic SEC exemption pursuant to Release 33- 7427, August 7, 1997) -2- Item 5. OTHER EVENTS. On or about June 25, 1998, the Registrant will cause the issuance and sale of approximately $99,744,000 initial principal amount of Collateralized Asset-Backed Notes, Series 1998-H1, Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6 IO, Class M-1, Class M-2 and Class B-1 (collectively, the "Underwritten Notes") pursuant to an Indenture, to be dated as of June 25, 1998, between Southern Pacific CMN Trust Series 1998-H1, as issuer, and Norwest Bank Minnesota, National Association, as indenture trustee. In connection with the sale of the Underwritten Notes, the Registrant has been advised by Greenwich Capital Markets, Inc. (the "Underwriter"), that the Underwriter has furnished to prospective investors certain yield tables and other computational materials (the "Computational Materials") with respect to the Underwritten Notes following the effective date of Registration Statement No. 333-52577, which Computational Materials are being filed as exhibits to this report. The Computational Materials have been provided by the Underwriter. The information in the Computational Materials is preliminary and may be superseded by the Prospectus Supplement relating to the Notes and by any other information subsequently filed with the Securities and Exchange Commission. The Computational Materials were prepared by the Underwriter at the request of certain prospective investors, based on assumptions provided by, and satisfying the special requirements of, such prospective investors. The Computational Materials may be based on assumptions that differ from the assumptions set forth in the Prospectus Supplement. The Computational Materials may not include, and do not purport to include, information based on assumptions representing a complete set of possible scenarios. Accordingly, the Computational Materials may not be relevant to or appropriate for investors other than those specifically requesting them. In addition, the actual characteristics and performance of the mortgage loans underlying the Underwritten Notes (the "Mortgage Loans") may differ from the assumptions used in the Computational Materials, which are hypothetical in nature and which were provided to certain investors only to give a general sense of how the yield, average life, duration, expected maturity, interest rate sensitivity and cash flow characteristics of a particular class of Underwritten Notes might vary under varying prepayment and other scenarios. Any difference between such assumptions and the actual characteristics and performance of the Mortgage Loans will affect the actual yield, average life, duration, expected maturity, interest rate sensitivity and cash flow characteristics of the Underwritten Notes. -3- 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 hereunto duly authorized. SOUTHERN PACIFIC SECURED ASSETS CORP. By: /s/ James L. Smith ------------------------------------- Name: James L. Smith Title: Director Dated: June 25, 1998 -4- EXHIBIT INDEX Item 601 (a) of Sequentially Exhibit Regulation S-K Numbered Number Exhibit No. Description Page - ------ ----------- ----------- ---- 1 99 Computational Materials 6 -5- -----END PRIVACY-ENHANCED MESSAGE-----