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If you are not the intended recipie
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THE NOTES HAVE NOT BEEN APPROVED OR
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prepared by the Income Notes Issuer
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NOTICE TO CONNECTICUT RESIDENTS THE
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IN ANOTHER RELEVANT MEMBER STATE AN
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SECURITIES LAWS OF HONG KONG, NO PE
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NOTICE TO RESIDENTS OF THE KINGDOM
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generally to subscribe for or other
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TABLE OF CONTENTS SUMMARY OF TERMS.
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SUMMARY OF TERMS The following summ
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to a transfer of Underlying Income
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Date will be required to provide th
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RISK FACTORS An investment in the N
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Expenses") will be payable by the I
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If any the Notes to be redeemed are
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In addition, all or a portion of an
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(c) the Issuer or the Income Notes
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shall send such notice to each Note
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Irish Paying Agents If and for so l
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Limited will act as the administrat
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educe the amount available to make
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(c) certificates evidencing the Not
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The Notes sold in the United States
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European Economic Area In relation
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Payments on a Global Note will be m
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TRANSFER AND OWNERSHIP RESTRICTIONS
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Certificated Notes, the transferee
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Code), subject to Section 4975 of t
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LISTING AND GENERAL INFORMATION 1.
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INDEX OF DEFINED TERMS Following is
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U.S. Dollars.......................
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Income Notes Offering Circular Exhi
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THE NOTES HAVE NOT BEEN APPROVED OR
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the headings "Risk Factors—Confli
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NOTICE TO RESIDENTS OF BAHRAIN NO P
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OTHERWISE TRANSFER, DIRECTLY OR IND
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APPLIES; AND (C) IN COMPLIANCE WITH
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WITHIN THE MEANING OF RELEVANT SECU
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TABLE OF CONTENTS Page EXECUTIVE SU
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It is anticipated that upon consumm
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SUMMARY OF MATERIAL TERMS OF THE NO
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Payment of principal, premium (if a
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Merrill Lynch, Pierce, Fenner & Smi
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(or any other date, subject to the
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C Advance Amounts"), (D) the Senior
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therein) shall have occurred and be
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the payment of such interest for al
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financial statements for the first
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Listing ...........................
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RISK FACTORS An investment in the N
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High Yield Investments. A substanti
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eing negotiated, approved by the cr
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Leveraged Capital Structure The Iss
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Holders of the Senior Indebtedness,
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commencing an involuntary case or p
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Equity Characteristic of Income Not
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for the Issuer at a set price and p
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The Issuer is also authorized to en
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- Page 121 and 122: Section 3(14) of ERISA) or "disqual
- Page 123 and 124: given to the Issuer, any charge con
- Page 125 and 126: DESCRIPTION OF THE NOTES This descr
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- Page 131 and 132: Cancellation All Notes that are red
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- Page 137 and 138: or the Trustee on account of princi
- Page 139 and 140: Indebtedness. The security interest
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- Page 143 and 144: under and as defined in the Credit
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- Page 147 and 148: (if any) on the Rated Notes or to e
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- Page 155 and 156: Eurodollar Rate Loan (as defined in
- Page 157 and 158: DESCRIPTION OF THE PLEDGE AND INTER
- Page 159 and 160: Third: to (i) principal then due an
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- Page 163 and 164: (v) use of advanced hedging techniq
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- Page 173 and 174: General THE ISSUERS The Issuer is a
- Page 175 and 176: offer and sale of the Rated Notes.
- Page 177 and 178: Investment Grade" means unrated deb
- Page 179 and 180: PLAN OF DISTRIBUTION General The Is
- Page 181 and 182: Prior to the sale of any Rated Note
- Page 183 and 184: SETTLEMENT AND CLEARING Global Note
- Page 185 and 186: Certificates for Rated Notes issued
- Page 187 and 188: none of the Issuers, the Initial Pu
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- Page 191 and 192: elow and be represented by one or m
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- Page 197 and 198: dividends and certain other U.S. so
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- Page 203 and 204: donee/successor) or (ii) if the Not
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- Page 207 and 208: MARGIN STOCK Lenders (other than se
- Page 209 and 210: LISTING AND GENERAL INFORMATION 1.
- Page 211 and 212: LEGAL MATTERS Certain U.S. legal ma
- Page 213 and 214: Asset Category G-9 Investments.....
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Telerate Page 3750.................
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Senior Over-Collateralization Test
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Asset Category Moody's Advance Rate
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Asset Category Moody's Advance Rate
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Asset Category Moody's Advance Rate
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Asset Category Moody's Advance Rate
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Asset Category Moody's Advance Rate
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Asset Category Moody's Advance Rate
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Notwithstanding the foregoing, for
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"Asset Category F-2 Investments" me
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SECTION 2. Determination of Fund In
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Structured Product Transactions in
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Firm or an Approved Third-Party App
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designated by the Issuer in writing
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(v) (vi) shares of any money market
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country identified by the Issuer fr
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"Investment Manager" means BlackRoc
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issuer are unqualified and certifie
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"Rated Note" means the Class B Note
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"Swap Transaction" means: (i) any r
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Senior Over-Collateralization Test
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Class C Over-Collateralization Test
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Class E Over-Collateralization Test
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"Asset Category C-2 Investments" me
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(i) (ii) (iii) (iv) with respect to
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(ix) (x) (xi) (xii) (xiii) (xiv) (x
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(xix) (xx) (xxi) [Reserved]; (A) th
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terminated or liquidated early in a
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Credit Agreement (or (x) any succes
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similar designation the payment of
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suffered a ratings downgrade shall
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Securities Act (or any successor pr
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"Reporting Date" means the Thursday
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"Senior Advance Amount" means the S
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Schedule A Structured Finance Oblig
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5. CBO/CLO CASHFLOW SECURITIES -1 -
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PRINCIPAL OFFICES OF ISSUERS BlackR