<PAGE>



                       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


                                 AUGUST 1, 2005
                Date of Report (Date of Earliest Event Reported)


                      Lehman ABS Corporation, on behalf of:
           Corporate Bond-Backed Certificates, Series 1997-CHR-1 Trust




         Delaware                  001-31979                  13-3447441
(State or Other Jurisdiction    (Commission File           (I.R.S. Employer
     of Incorporation)              Number)               Identification No.)



                                                                   10019
                                                                 (Zip Code)
745 7th Avenue
New York, New York
(Address of Principal Executive Offices)

                                 (212) 526-7000
                         (Registrant's Telephone Number,
                              Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
following provisions (see General Instruction A.2. below):

[ ]      Written communications pursuant to Rule 425 under the Securities act
         (17 CRF 230.425)

[ ]      Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act
         (17 CFR 240.14a-12(b))

[ ]      Pre-commencement communications pursuant to Rule 14d-2(b) under the
         Exchange Act (17 CFR 240.14d-12(b))

[ ]      Pre-commencement communications pursuant to Rule 13e-4(c) under the
         Exchange Act (17 CFR 240.13e-4))

                                      -1-
<PAGE>



The Corporate Bond-Backed Certificates, Series 1997-CHR-1 Trust, which we refer
to herein as the "Trust" was formed pursuant to the Standard Terms for Trust
Agreements, dated as of February 28, 1996, as supplemented by the Series
Supplement in respect of the Trust dated as of July 10, 1997.

Item 8.01.        OTHER EVENTS

On AUGUST 1, 2005, distributions were made to the holders of the certificates
issued by the Trust. Specific information with respect to the distributions is
filed as Exhibit 99.1 hereto.

No other reportable transactions or matters have occurred during the current
reporting period.

DaimlerChrysler AG, the guarantor of the underlying securities, is subject to
the information reporting requirements of the Securities Exchange Act of 1934,
as amended (the "Exchange Act"). For information on the guarantor of the
underlying securities please see its periodic and current reports filed with the
Securities and Exchange Commission (the "Commission") under the guarantor's
Exchange Act file number, 001-14561. 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 filed
electronically through the Electronic Data Gathering, Analysis and Retrieval
system, or "EDGAR." Neither Lehman ABS Corporation 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 Lehman ABS Corporation 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, the guarantor of the
underlying securities, or the underlying securities themselves, have not
occurred or have not yet been publicly disclosed which would affect the accuracy
or completeness of the publicly available documents described above.


Item 9.01.        FINANCIAL STATEMENTS AND EXHIBITS

(c) The following exhibit was filed as part of this report:

         99.1     Trustee's Distribution Statement to the Corporate Bond-Backed
                  Certificates, Series 1997-CHR-1 Trust for the period ending
                  AUGUST 1, 2005.


                                      -2-
<PAGE>







                                    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 thereunto duly authorized.

Date: AUGUST 1, 2005


                                             Lehman ABS Corporation

                                             By: /s/ Charles M. Weaver
                                                 ---------------------
                                             Name: Charles M. Weaver
                                             Title: Vice President


                                      -3-
<PAGE>








                                  EXHIBIT INDEX


Exhibit Number                     Description
--------------                     -----------

   99.1              Trustee's Distribution Statement to the Corporate
                     Bond-Backed Certificates, Series 1997-CHR-1 Trust for
                     the period ending AUGUST 1, 2005.









                                      -4-
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{"company-data": {"conformed-name": "CORPORATE BOND BACKED CERTIFICATES TRUST SERIES 1997-CHR-1", "cik": "0001059425", "assigned-sic": "6189", "irs-number": "000000000", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-31979", "film-number": "051016951"}, "business-address": {"street1": "THE BANK OF NEW YORK CORP TRUST ADM", "street2": "101 BARLCAY ST 12TH FLOOR EAST", "city": "NEW YORK", "state": "NY", "zip": "10286", "phone": "2125265594"}, "mail-address": {"street1": "THE BANK OF NEW YORK CORPORATE TRUST ADM", "street2": "101 BARCLAY STREET 12TH FLOOR EAST", "city": "NEW YORK", "state": "NY", "zip": "10286"}}
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

                                 AUGUST 1, 2005
                Date of Report (Date of Earliest Event Reported)

                      Lehman ABS Corporation, on behalf of:
           Corporate Bond-Backed Certificates, Series 1997-CHR-1 Trust

         Delaware                  001-31979                  13-3447441
(State or Other Jurisdiction    (Commission File           (I.R.S. Employer
     of Incorporation)              Number)               Identification No.)

                                                                   10019
                                                                 (Zip Code)
745 7th Avenue
New York, New York
(Address of Principal Executive Offices)

                                 (212) 526-7000
                         (Registrant's Telephone Number,
                              Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
following provisions (see General Instruction A.2. below):

[ ]      Written communications pursuant to Rule 425 under the Securities act
         (17 CRF 230.425)

[ ]      Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act
         (17 CFR 240.14a-12(b))

[ ]      Pre-commencement communications pursuant to Rule 14d-2(b) under the
         Exchange Act (17 CFR 240.14d-12(b))

[ ]      Pre-commencement communications pursuant to Rule 13e-4(c) under the
         Exchange Act (17 CFR 240.13e-4))

                                      -1-
The Corporate Bond-Backed Certificates, Series 1997-CHR-1 Trust, which we refer
to herein as the "Trust" was formed pursuant to the Standard Terms for Trust
Agreements, dated as of February 28, 1996, as supplemented by the Series
Supplement in respect of the Trust dated as of July 10, 1997.

Item 8.01.        OTHER EVENTS

On AUGUST 1, 2005, distributions were made to the holders of the certificates
issued by the Trust. Specific information with respect to the distributions is
filed as Exhibit 99.1 hereto.

No other reportable transactions or matters have occurred during the current
reporting period.

DaimlerChrysler AG, the guarantor of the underlying securities, is subject to
the information reporting requirements of the Securities Exchange Act of 1934,
as amended (the "Exchange Act"). For information on the guarantor of the
underlying securities please see its periodic and current reports filed with the
Securities and Exchange Commission (the "Commission") under the guarantor's
Exchange Act file number, 001-14561. 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 filed
electronically through the Electronic Data Gathering, Analysis and Retrieval
system, or "EDGAR." Neither Lehman ABS Corporation 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 Lehman ABS Corporation 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, the guarantor of the
underlying securities, or the underlying securities themselves, have not
occurred or have not yet been publicly disclosed which would affect the accuracy
or completeness of the publicly available documents described above.

Item 9.01.        FINANCIAL STATEMENTS AND EXHIBITS

(c) The following exhibit was filed as part of this report:

         99.1     Trustee's Distribution Statement to the Corporate Bond-Backed
                  Certificates, Series 1997-CHR-1 Trust for the period ending
                  AUGUST 1, 2005.

                                      -2-
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 thereunto duly authorized.

Date: AUGUST 1, 2005

                                             Lehman ABS Corporation

                                             By: /s/ Charles M. Weaver
                                                 ---------------------
                                             Name: Charles M. Weaver
                                             Title: Vice President

                                      -3-
EXHIBIT INDEX

Exhibit Number                     Description
--------------                     -----------

   99.1              Trustee's Distribution Statement to the Corporate
                     Bond-Backed Certificates, Series 1997-CHR-1 Trust for
                     the period ending AUGUST 1, 2005.

                                      -4-