RxJS – Observable to a Model Object

I have started learning Observables in Angular and what I want should be fairly simple (I think) but I am obviously missing a vital step.

Here I subscribe to an observable which receives an array of type ‘TheModel[]’ back from an HTTP Get request (The service handles the HTTP calls)

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The subscription should be assigning the object "TheModel[]" that comes back from the request to my local private object stated below.

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But the console log value is stating "undefined".

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The model is a simple ID, Name property class.

What is my misunderstanding?

Thanks

Source: Angular Questions