8-K 1 d172585.txt BEAR STEARNS ASSET BACKED SECURITIES, INC. ================================================================================ UNITED STATES 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) September 26, 2003 BEAR STEARNS ASSET BACKED SECURITIES, INC. ------------------------------------------------------ (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) Delaware 333-91334 13-3836437 ------------------------------ ------------- -------------------- (STATE OR OTHER JURISDICTION (COMMISSION (I.R.S. EMPLOYER OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.) 383 Madison Avenue New York, New York 10179 ------------------------------ ------------ (ADDRESS OF PRINCIPAL (ZIP CODE) EXECUTIVE OFFICES) Registrant's telephone number, including area code, is (212) 272-2000 ================================================================================ -2- Item 5. OTHER EVENTS. On or about September 30, 2003, the Registrant will cause the issuance and sale of approximately $589,218,132 initial principal amount of Bear Stearns Asset Backed Securities Trust 2003-AC5, Asset-Backed Certificates, Series 2003-AC5 (the "Certificates") pursuant to a Pooling and Servicing Agreement to be dated as of September 1, 2003, between the Registrant as depositor, EMC Mortgage Corporation, as seller and company, Wells Fargo Bank Minnesota, National Association, as master servicer and securities administrator and JPMorgan Chase Bank, as trustee. In connection with the sale and the Series 2003-AC5, Class A-1, Class A-2, Class A- 3, Class A-4, Class M-1, Class M-2, and Class B Certificates (the "Underwritten Certificates"), the Registrant has been advised by Bear, Stearns & Co. Inc. (the "Underwriter"), that the Underwriter has furnished to prospective investors certain computational materials (the "Computational Materials") with respect to the Underwritten Certificates following the effective date of Registration Statement No. 333-91334, 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 The information in the Computational Materials is preliminary and may be superseded by the Prospectus Supplement relating to the Certificates and by any other information subsequently filed with the Securities and Exchange Commission.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 Certificates (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 the Underwritten Certificates 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 Certificates. -3- Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (a) FINANCIAL STATEMENTS. Not applicable. (b) PRO FORMA FINANCIAL INFORMATION. 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 Bear Stearns Asset Backed Securities Trust 2003-AC5, Asset-Backed Certificates, Series 2003-AC5 (filed in paper pursuant to the automatic SEC exemption pursuant to Release 33-7427, August 7, 1997) Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the Registrant by the undersigned thereunto duly authorized. BEAR STEARNS ASSET BACKED SECURITIES, INC. By: /s/ Joseph T. Jurkowski ---------------------------- Name: Joseph T. Jurkowski Title: Vice President Dated: September 26, 2003 EXHIBIT INDEX Item 601(a) of Sequentially Regulation S-K Numbered Exhibit Number Exhibit No. Description Page -------------- ----------- ----------- ---- 1 99 Computational Filed Manually Materials

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): September 8, 2003

Delaware (State or other jurisdiction of incorporation) 333-91334 (Commission file number) 13-3836437 (I.R.S. employer identification no.)

383 Madison Avenue New York, New York (Address of principal executive offices) 10179 (ZIP Code)

Registrant's telephone number, including area (212) 272-2000

Not Applicable (Former name or former address, if changed since last report)

ITEM 5. Other Events

Filing of Computational Materials

In connection with the proposed offering of the Bear Stearns Asset Backed Securities, Inc., Bear Stearns Asset Backed Securities Trust 2003-ABF1, Mortgage Pass-Through Certificates, Series 2003-ABF1 (the “Certificates”), Bear, Stearns & Co. Inc., as the underwriter (the “Underwriter”), has prepared certain materials (the “Computational Materials”) for distribution to its potential investors. Although Bear Stearns Asset Backed Securities, Inc. (the “Company”) provided the Underwriter with certain information regarding the characteristics of the mortgage loans (the “Mortgage Loans”) in the related portfolio, the Company did not participate in the preparation of the Computational Materials.

For purposes of this Form 8-K, “Computational Materials” shall mean the Series 2003-ABF1 term sheet, computer generated tables and/or charts displaying, with respect to the Certificates, any of the following: yield; average life; duration, expected maturity; interest rate sensitivity; loss sensitivity; cash flow characteristics; background information regarding the Mortgage Loans; the proposed structure; decrement tables; or similar information (tabular or otherwise) of a statistical, mathematical, tabular or computational nature. The Computational Materials are attached hereto as Exhibit 99.1.

ITEM 7. Financial Statements and Exhibits

(a) Not applicable.

(b) Not applicable.

99.1 Bear Stearns Asset Backed Securities Trust 2003-ABF1 Computational Materials, filed on Form 8-K dated September 17, 2003

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.

Date: September 17, 2003 BEAR STEARNS ASSET BACKED SECURITIES, INC.

By: /s/ Jonathan Lieberman Name: Jonathan Lieberman Title: Senior Managing Director

INDEX TO EXHIBITS

Paper (P) or Exhibit No. (99.1) Description Bear Stearns Asset Backed Securities Trust 2003-ABF1 Computational Materials, filed on Form 8-K dated September 17, 2003 Paper (P) or Electronic (E) P

Filing Compare · BEAR STEARNS ASSET BACKED SECURITIES INC