Goldman Sachs-backed trust (NYSE: JBK) details structure in 10-K

Rhea-AI Filing Summary

Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Series 2004-6 Trust filed its annual report, describing a pass-through trust whose only assets are capital securities issued by Goldman Sachs Capital I, backed by junior subordinated debentures of The Goldman Sachs Group, Inc.

The report notes that the Certificates are publicly offered, represented by physical certificates in the name of Cede & Co. and listed on the NYSE. Many standard 10-K items such as business description, risk factors, financial statements and management discussion are marked not applicable because the trust has no separate operating business.

Investors are directed to The Goldman Sachs Group, Inc.’s own Exchange Act filings for financial and operating information on the underlying securities. Exhibits include officer certification, an annual compliance report by the trustee, and a report by Aston Bell, CPA.

Key Figures

Distribution date: 02/15/2025 Distribution date: 08/15/2025 Trust EIN: 13-3447441

3 metrics

Distribution date 02/15/2025 Distribution report to security holders listed in Item 15(a)

Distribution date 08/15/2025 Distribution report to security holders listed in Item 15(a)

Trust EIN 13-3447441 I.R.S. Employer Identification Number of the trust

Key Terms

Corporate Backed Trust Certificates, Series Supplement, junior subordinated debentures, Standard Terms for Trust Agreements, +1 more

5 terms

Corporate Backed Trust Certificates financial

"Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Series 2004-6 Trust"

Series Supplement financial

"as supplemented by a Series Supplement (the “Series Supplement”) dated as of March 19, 2004"

junior subordinated debentures financial

"the issuer of the junior subordinated debentures, the sole assets held by the Underlying Securities Issuer"

A junior subordinated debenture is a long-term loan a company issues to investors that sits low in the repayment order: holders get paid after most other creditors but usually before shareholders. Because it offers higher interest to compensate for greater risk, it can boost income for investors but also carries bigger chances of loss if the issuer faces financial trouble. Think of it as standing near the back of a line for repayment — you get a bigger reward but a smaller guarantee.

Standard Terms for Trust Agreements financial

"formed pursuant to the Standard Terms for Trust Agreements, dated as of January 16, 2001"

Sarbanes-Oxley Act of 2002 regulatory

"pursuant to 15 U.S.C. Section 7241, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002"

How to Read a 10-K Annual Report →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

(Mark One)

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2025

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from       to      

filed on behalf of:

Commission File Number of issuing entity: 001-32131

Central Index Key Number of issuing entity: 0001284143

Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Series 2004-6 Trust

(Exact Name of Registrant as Specified in Its Charter)

by:

Commission File Number of depositor: 001-11661

Central Index Key Number of depositor: 0000829281

SCS LABS Corporation

(Exact Name of Depositor as Specified in Its Charter)

Delaware		13-3447441
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)
200 Continental Drive, Suite 401, Newark, Delaware		19713
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (646) 285-9000

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Name of Each Exchange on Which Registered
Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Series 2004-6		New York Stock Exchange (“NYSE”)

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒

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 ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Not applicable.

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ☒

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one):

Large Accelerated Filer		☐		Accelerated Filer		☐
Non-Accelerated Filer		☒		Smaller reporting company		☐
				Emerging growth company		☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒

State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter.

The registrant has no voting stock or class of common stock that is held by non-affiliates.

DOCUMENTS INCORPORATED BY REFERENCE

The distribution reports to security holders filed on Form 8-K during the fiscal year in lieu of reports on Form 10-Q which include the reports filed on Form 8-K listed in Item 15(a) hereto are incorporated by reference into part IV of this Annual Report.

Introductory Note

SCS LABS Corporation (the “Depositor”) is the Depositor in respect of the Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Series 2004-6 Trust (the “Trust”), a common law trust formed pursuant to the Standard Terms for Trust Agreements, dated as of January 16, 2001, between the Depositor and U.S. Bank Trust National Association, as trustee (the “Trustee”), as supplemented by a Series Supplement (the “Series Supplement”) dated as of March 19, 2004 in respect of the Trust. The Trust’s assets consist solely of capital Securities issued by Goldman Sachs Capital I (the “Underlying Securities Issuer”). The Certificates do not represent obligations of, or interests in, the Depositor or the Trustee.

The Goldman Sachs Group, Inc., the issuer of the junior subordinated debentures, the sole assets held by the Underlying Securities Issuer, is subject to the information reporting requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). For information on The Goldman Sachs Group, Inc., please see its periodic and current reports filed with the Securities and Exchange Commission (the “Commission”) under The Goldman Sachs Group, Inc.’s Exchange Act file number, 001-14965. The Commission maintains a site on the World Wide Web at “http://www.sec.gov” at which users can view and download copies of reports, proxy and information statements and other information regarding issuers filed electronically through the Electronic Data Gathering, Analysis and Retrieval system, or “EDGAR.” Periodic and current reports and other information required to be filed pursuant to the Exchange Act by the issuer of the underlying securities may be accessed on this site. Neither the Depositor nor the Trustee has participated in the preparation of such reporting documents, or made any due diligence investigation with respect to the information provided therein. Neither the Depositor nor the Trustee has verified the accuracy or completeness of such documents or reports. There can be no assurance that events affecting the issuer of the underlying securities 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.

PART I

Item 1. Business.

Not Applicable

Item 1A. Risk Factors.

Not Applicable

Item 1B. Unresolved Staff Comments.

Not Applicable

Item 2. Properties.

Not Applicable

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, Related Stockholder Matters and Issuer Purchases of Equity Securities.

The publicly offered Certificates representing investors’ interest in the Trust are represented by one or more physical Certificates registered in the name of “Cede & Co.”, the nominee of The Depository Trust Company. Those publicly offered Certificates are listed on the NYSE.

Item 6. Selected Financial Data.

Not Applicable

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operation.

Not Applicable

Item 7A. Quantitative and Qualitative Disclosures About Market Risk.

Not Applicable

Item 8. Financial Statements and Supplementary Data.

Not Applicable

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.

None

Item 9A. Controls and Procedures.

Not Applicable

Item 9A(T). Controls and Procedures.

Not Applicable

Item 9B. Other Information.

Not Applicable

PART III

Item 10. Directors, Executive Officers and Corporate Governance.

Not Applicable

Item 11. Executive Compensation.

Not Applicable

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

Not Applicable

Item 13. Certain Relationships and Related Transactions, and Director Independence.

None

Item 14. Principal Accountant Fees and Services.

Not Applicable

PART IV

Item 15. Exhibits, Financial Statement Schedules.

(a) The following documents have been filed as part of this report.

1. Trustee’s Distribution Statements documented on Form 8-K regarding the distributions from the Trust to the certificateholders for the period from January 1, 2025 through and including December 31, 2025 have been filed with the Securities and Exchange Commission and are hereby incorporated by reference. Filing dates are listed below:

Trust Description		Distribution Date				Filed on
Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Series 2004-6 Trust			02/15/2025 08/15/2025				02/28/2025 08/28/2025

2. None.

3. Exhibits:

31.1 – Certification by Vice President and Assistant Treasurer of the Registrant pursuant to 15 U.S.C. Section 7241, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 31.2 – Annual Compliance Report by Trustee pursuant to 15 U.S.C. Section 7241, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31. 3 – Report of Aston Bell, CPA.

(b) See Item 15(a) above.

(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.

				Lehman ABS Corporation, as Depositor for theTrust (the “Registrant”)
Dated: March 31, 2026				By:		/s/ Paul Edwards
						Name: Paul Edwards
						Title: Vice President

EXHIBIT INDEX

Reference Number per Item 601 of Regulation SK		Description of Exhibits		Exhibit Number in this Form 10-K
(31.1)		Certification by Vice President of the Registrant pursuant to 15 U.S.C. Section 7241, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.		31.1
(31.2)		Annual Compliance Report by Trustee pursuant to 15 U.S.C. Section 7241, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.		31.2
(31.3)		Report of Aston Bell, CPA.		31.3

FAQ

What is the JBK Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Series 2004-6 Trust?

The JBK trust is a common law trust that holds capital securities issued by Goldman Sachs Capital I. Those securities are backed by junior subordinated debentures of The Goldman Sachs Group, Inc., and investors hold trust certificates listed on the NYSE.

What assets back the JBK trust certificates described in this 10-K?

The JBK trust’s assets consist solely of capital securities issued by Goldman Sachs Capital I. The sole assets of that issuer are junior subordinated debentures of The Goldman Sachs Group, Inc., so investors rely on Goldman Sachs Group’s credit and public disclosures.

Does the JBK 10-K include its own financial statements and MD&A?

The JBK annual report states that many typical 10-K items, including financial statements and management discussion and analysis, are not applicable. The trust has no independent operating business and primarily passes through cash flows from the underlying Goldman Sachs-related securities.

Where can JBK investors find financial information on the underlying Goldman Sachs securities?

The filing directs investors to The Goldman Sachs Group, Inc.’s Exchange Act reports filed with the SEC under file number 001-14965. These periodic and current reports are available through the SEC’s EDGAR system at sec.gov for detailed financial and business information.

On which exchange are the JBK trust certificates listed and how are they held?

The JBK trust certificates are listed on the New York Stock Exchange. Publicly offered certificates are represented by one or more physical certificates registered in the name of Cede & Co., the nominee of The Depository Trust Company, which facilitates ownership and trading in street name.

What key exhibits accompany the JBK annual report?

The annual report includes a certification by the registrant’s Vice President under Section 302 of the Sarbanes-Oxley Act, an annual compliance report by the trustee, and a report of Aston Bell, CPA. These exhibits address controls, trustee compliance, and an independent accountant’s review.