<PAGE> 1
---------------------------------------------------------------------------
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) November 8, 1996
First Sierra Equipment Lease Trust 1996-2
----------------------------------------------------
(Exact name of registrant as specified in its charter)
New York 33-98822 Application Pending
---------------------------- ------------ --------------------
(State or Other Jurisdiction (Commission (I.R.S Employer
of Incorporation) File Number) Identification No.)
c/o Bankers Trust Company
Four Albany Street, 10006
10th Floor ----------------
New York, New York (Zip Code)
--------------------------
(Address of Principal
Executive Offices)
Registrant's telephone number, including area code (212) 250-2500
--------------
-------------------------------------------------------------------
(Former name or former address, if changed since last report)
--------------------------------------------------------------------------
<PAGE> 2
Item 5. Other Events
In connection with the offering by First Sierra Equipment Lease
Trust 1996-2 of 6.29% Equipment Lease-Backed Certificates, Class A, Series
1996-2, described in a Prospectus Supplement dated as of November 8, 1996
and the Prospectus dated as of April 18, 1996, certain "Computational
Materials" within the meanings of the May 20, 1994 Kidder, Peabody No-Action
Letter and the February 17, 1995 Public Securities Association No-Action Letter
were furnished to certain prospective investors (the "Related Computational
Materials").
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibit 99.1. Related Computational Materials
(as defined in Item 5 above).
<PAGE> 3
SIGNATURES
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.
First Sierra Equipment Lease Trust
1996-2
By: First Sierra Receivables II,
Inc., as Depositor
By: /s/ Thomas Depping
-------------------------
Name: Thomas Depping
Title: President
Dated: November 8, 1996
<PAGE> 4
EXHIBIT INDEX
Exhibit No. Description Page No.
- ----------- ----------- --------
99.1 Related Computational 5
Materials (as defined
in Item 5 above.)
<PAGE> 1
EXHIBIT 99.1
FIRST SIERRA EQUIPMENT LEASE TRUST 1996-2
Size 15,000,000
Accrued 13,042
Speed 0.00%CPR
CLASS A NOTES
===================================================
<TABLE>
<CAPTION>
Expected Principal
Distribution Date Class A Balance Repayment Amount Interest
- ----------------- --------------- ------------------ --------
<S> <C> <C> <C>
Closing Date 15,000,000
12/10/96 15,000,000 0 78,250
01/10/97 15,000,000 0 78,250
02/10/97 15,000,000 0 78,250
03/10/97 15,000,000 0 78,250
04/10/97 15,000,000 0 78,250
05/10/97 15,000,000 0 78,250
06/10/97 15,000,000 0 78,250
07/10/97 15,000,000 0 78,250
08/10/97 15,000,000 0 78,250
09/10/97 15,000,000 0 78,250
10/10/97 15,000,000 0 78,250
11/10/97 14,580,837 419,163 78,250
12/10/97 14,183,943 396,894 76,063
01/10/98 13,776,078 407,864 73,993
02/10/98 13,384,527 391,552 71,865
03/10/98 12,985,719 398,807 69,823
04/10/98 12,581,455 404,265 67,742
05/10/98 12,191,393 390,062 65,633
06/10/98 11,807,551 383,842 63,598
07/10/98 11,428,029 379,523 61,596
08/10/98 11,051,583 376,445 59,616
09/10/98 10,684,515 367,068 57,652
10/10/98 10,308,444 376,071 55,738
11/10/98 9,951,441 357,003 53,776
12/10/98 9,587,114 364,327 51,913
01/10/99 9,232,134 354,981 50,013
02/10/99 8,877,898 354,236 48,161
03/10/99 8,532,530 345,367 46,313
04/10/99 8,195,255 337,275 44,511
05/10/99 7,862,741 332,514 42,752
06/10/99 7,553,309 309,432 41,017
07/10/99 7,262,213 291,096 39,403
08/10/99 6,982,490 279,723 37,885
09/10/99 6,692,089 290,402 36,425
10/10/99 6,405,346 286,742 34,910
11/10/99 6,128,217 277,129 33,415
</TABLE>
FIRST UNION CAPITAL MARKETS ASSET SECURITIZATION
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<PAGE> 2
FIRST SIERRA EQUIPMENT LEASE TRUST 1996-2
Size 15,000,000
Accrued 13,042
Speed 0.00%CPR
CLASS A NOTES
===================================================
<TABLE>
<CAPTION>
Expected Principal
Distribution Date Class A Balance Repayment Amount Interest
- ----------------- --------------- ------------------ --------
<S> <C> <C> <C>
12/10/99 5,846,844 281,372 31,969
01/10/2000 5,572,119 274,726 30,501
02/10/2000 5,315,492 256,627 29,068
03/10/2000 5,046,175 269,317 27,729
04/10/2000 4,782,488 263,687 26,324
05/10/2000 4,519,859 262,628 24,949
06/10/2000 4,270,693 249,166 23,579
07/10/2000 4,025,222 245,471 22,279
08/10/2000 3,806,100 219,123 20,998
09/10/2000 3,571,912 234,188 19,855
10/10/2000 3,338,894 233,018 18,633
11/10/2000 3,106,150 232,744 17,418
12/10/2000 2,875,428 230,722 16,204
01/10/2001 2,643,707 231,721 15,000
02/10/2001 2,430,864 212,844 13,791
03/10/2001 2,197,484 233,380 12,681
04/10/2001 1,963,811 233,673 11,464
05/10/2001 1,744,832 218,979 10,245
06/10/2001 1,532,145 212,687 9,102
07/10/2001 1,351,589 180,556 7,993
08/10/2001 1,152,541 199,048 7,051
09/10/2001 965,444 187,097 6,012
10/10/2001 806,109 159,335 5,036
11/10/2001 659,021 147,088 4,205
12/10/2001 524,842 134,179 3,438
01/10/2002 395,595 129,247 2,738
02/10/2002 284,639 110,956 2,064
03/10/2002 188,154 96,485 1,485
</TABLE>
FIRST UNION CAPITAL MARKETS ASSET SECURITIZATION
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disclaimer, please contact your First Union Sales Representative immediately.
<PAGE> 3
FIRST SIERRA EQUIPMENT LEASE TRUST 1996-2
Size 15,000,000
Accrued 13,042
Speed 0.00%CPR
CLASS A NOTES
===================================================
<TABLE>
<CAPTION>
Expected Principal
Distribution Date Class A Balance Repayment Amount Interest
- ----------------- --------------- ------------------ --------
<C> <C> <C> <C>
Closing Date 15,000,000
12/10/96 15,000,000 0 78,250
01/10/97 15,000,000 0 78,250
02/10/97 15,000,000 0 78,250
03/10/97 15,000,000 0 78,250
04/10/97 15,000,000 0 78,250
05/10/97 15,000,000 0 78,250
06/10/97 15,000,000 0 78,250
07/10/97 15,000,000 0 78,250
08/10/97 15,000,000 0 78,250
09/10/97 15,000,000 0 78,250
10/10/97 15,000,000 0 78,250
11/10/97 14,527,277 472,723 78,250
12/10/97 14,079,316 447,961 75,784
01/10/98 13,624,516 454,800 73,447
02/10/98 13,188,577 435,939 71,075
03/10/98 12,749,269 439,308 68,800
04/10/98 12,308,332 440,938 66,509
05/10/98 11,884,011 424,320 64,208
06/10/98 11,468,758 415,253 61,995
07/10/98 11,060,733 408,025 59,829
08/10/98 10,658,730 402,004 57,700
09/10/98 10,268,426 390,304 55,603
10/10/98 9,873,035 395,391 53,567
11/10/98 9,497,975 375,060 51,504
12/10/98 9,119,288 378,686 49,548
01/10/99 8,751,959 367,329 47,572
02/10/99 8,388,197 363,762 45,656
03/10/99 8,035,182 353,015 43,758
04/10/99 7,692,111 343,071 41,917
05/10/99 7,355,944 336,167 40,127
06/10/99 7,042,657 313,287 38,374
07/10/99 6,724,158 318,499 36,739
08/10/99 6,418,710 305,448 35,078
09/10/99 6,125,952 292,758 33,484
10/10/99 5,838,620 287,332 31,957
11/10/99 5,582,726 255,894 30,458
</TABLE>
FIRST UNION CAPITAL MARKETS ASSET SECURITIZATION
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disclaimer, please contact your First Union Sales Representative immediately.
<PAGE> 4
FIRST SIERRA EQUIPMENT LEASE TRUST 1996-2
Size 15,000,000
Accrued 13,042
Speed 5.00%CPR
CLASS A NOTES
===================================================
<TABLE>
<CAPTION>
Expected Principal
Distribution Date Class A Balance Repayment Amount Interest
- ----------------- --------------- ------------------ --------
<C> <C> <C> <C>
12/10/99 5,304,512 278,214 29,123
01/10/2000 5,034,116 270,396 27,672
02/10/2000 4,763,378 270,737 26,261
03/10/2000 4,501,652 261,727 24,849
04/10/2000 4,246,691 254,961 23,484
05/10/2000 4,013,841 232,849 22,154
06/10/2000 3,775,026 238,815 20,939
07/10/2000 3,541,131 233,894 19,693
08/10/2000 3,315,728 225,403 18,473
09/10/2000 3,094,624 221,105 17,297
10/10/2000 2,893,153 201,470 16,144
11/10/2000 2,676,742 216,412 15,093
12/10/2000 2,463,658 213,083 13,964
01/10/2001 2,251,432 212,226 12,852
02/10/2001 2,041,786 209,646 11,745
03/10/2001 1,831,459 210,327 10,651
04/10/2001 1,638,809 192,650 9,554
05/10/2001 1,443,294 195,515 8,549
06/10/2001 1,254,285 189,009 7,529
07/10/2001 1,079,929 174,355 6,543
08/10/2001 904,438 175,491 5,634
09/10/2001 752,968 151,470 4,718
10/10/2001 611,102 141,866 3,928
11/10/2001 479,802 131,300 3,188
12/10/2001 350,125 129,678 2,503
01/10/2002 245,522 104,603 1,826
02/10/2002 146,862 98,660 1,281
03/10/2002 53,851 93,011 766
</TABLE>
FIRST UNION CAPITAL MARKETS ASSET SECURITIZATION
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disclaimer, please contact your First Union Sales Representative immediately.
<PAGE> 5
FIRST SIERRA EQUIPMENT LEASE TRUST 1996-2
Size 15,000,000
Accrued 13,042
Speed 10.00%CPR
CLASS A NOTES
===================================================
<TABLE>
<CAPTION>
Expected Principal
Distribution Date Class A Balance Repayment Amount Interest
- ----------------- --------------- ------------------ --------
<C> <C> <C> <C>
Closing Date 15,000,000
12/10/96 15,000,000 0 78,250
01/10/97 15,000,000 0 78,250
02/10/97 15,000,000 0 78,250
03/10/97 15,000,000 0 78,250
04/10/97 15,000,000 0 78,250
05/10/97 15,000,000 0 78,250
06/10/97 15,000,000 0 78,250
07/10/97 15,000,000 0 78,250
08/10/97 15,000,000 0 78,250
09/10/97 15,000,000 0 78,250
10/10/97 15,000,000 0 78,250
11/10/97 14,470,619 529,381 78,250
12/10/97 13,969,090 501,530 75,488
01/10/98 13,465,398 503,692 72,872
02/10/98 12,983,621 481,777 70,244
03/10/98 12,502,809 480,812 67,731
04/10/98 12,024,588 478,221 65,223
05/10/98 11,565,776 458,812 62,728
06/10/98 11,119,209 446,567 60,335
07/10/98 10,683,067 436,142 58,005
08/10/98 10,256,138 426,929 55,730
09/10/98 9,843,465 412,673 53,503
10/10/98 9,429,746 413,719 51,350
11/10/98 9,037,833 391,913 49,192
12/10/98 8,646,050 391,783 47,147
01/10/99 8,267,744 378,305 45,104
02/10/99 7,895,860 371,884 43,130
03/10/99 7,536,662 359,198 41,190
04/10/99 7,189,295 347,367 39,316
05/10/99 6,824,196 365,099 37,504
06/10/99 6,483,520 340,676 35,600
07/10/99 6,186,739 296,781 33,822
08/10/99 5,880,216 306,523 32,274
09/10/99 5,587,211 293,005 30,675
10/10/99 5,301,354 285,856 29,147
11/10/99 5,026,861 274,493 27,655
</TABLE>
FIRST UNION CAPITAL MARKETS ASSET SECURITIZATION
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disclaimer, please contact your First Union Sales Representative immediately.
<PAGE> 6
FIRST SIERRA EQUIPMENT LEASE TRUST 1996-2
Size 15,000,000
Accrued 13,042
Speed 10.00%CPR
CLASS A NOTES
===============================================
<TABLE>
<CAPTION>
Expected Principal
Distribution Date Class A Balance Repayment Amount Interest
- ----------------- --------------- ------------------ --------
<S> <C> <C> <C>
12/10/99 4,753,480 273,381 26,223
01/10/2000 4,509,120 244,359 24,797
02/10/2000 4,246,781 262,339 23,523
03/10/2000 3,994,231 252,550 22,154
04/10/2000 3,749,488 244,743 20,837
05/10/2000 3,509,238 240,251 19,560
06/10/2000 3,299,482 209,756 18,307
07/10/2000 3,078,261 221,221 17,212
08/10/2000 2,865,892 212,369 16,058
09/10/2000 2,658,859 207,033 14,950
10/10/2000 2,455,791 203,068 13,870
11/10/2000 2,256,039 199,752 12,811
12/10/2000 2,076,104 179,935 11,769
01/10/2001 1,883,233 192,871 10,830
02/10/2001 1,694,100 189,134 9,824
03/10/2001 1,506,083 188,017 8,838
04/10/2001 1,320,831 185,252 7,857
05/10/2001 1,161,544 159,288 6,890
06/10/2001 995,029 166,514 6,059
07/10/2001 841,367 153,662 5,191
08/10/2001 688,180 153,187 4,389
09/10/2001 556,507 131,673 3,590
10/10/2001 431,763 124,744 2,903
11/10/2001 316,184 115,579 2,252
12/10/2001 202,859 113,325 1,649
01/10/2002 111,827 91,032 1,058
02/10/2002 25,495 86,332 583
03/10/2002 0 25,495 133
</TABLE>
FIRST UNION CAPITAL MARKETS ASSET SECURITIZATION
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disclaimer, please contact your First Union Sales Representative immediately.
<PAGE> 7
FIRST SIERRA EQUIPMENT LEASE TRUST 1996-2
Size 15,000,000
Accrued 13,042
Speed 20.00%CPR
CLASS A NOTES
====================================================
<TABLE>
<CAPTION>
Expected Principal
Distribution Date Class A Balance Repayment Amount Interest
- ----------------- --------------- ------------------ --------
<S> <C> <C> <C>
Closing Date 15,000,000
12/10/96 15,000,000 0 78,250
01/10/97 15,000,000 0 78,250
02/10/97 15,000,000 0 78,250
03/10/97 15,000,000 0 78,250
04/10/97 15,000,000 0 78,250
05/10/97 15,000,000 0 78,250
06/10/97 15,000,000 0 78,250
07/10/97 15,000,000 0 78,250
08/10/97 15,000,000 0 78,250
09/10/97 15,000,000 0 78,250
10/10/97 15,000,000 0 78,250
11/10/97 14,346,595 653,405 78,250
12/10/97 13,729,417 617,178 74,841
01/10/98 13,121,413 608,004 71,622
02/10/98 12,543,256 578,157 68,450
03/10/98 11,976,324 566,932 65,434
04/10/98 11,421,813 554,511 62,476
05/10/98 10,893,602 528,210 59,584
06/10/98 10,385,120 508,482 56,828
07/10/98 9,894,429 490,691 54,176
08/10/98 9,420,156 474,274 51,616
09/10/98 8,966,010 454,146 49,142
10/10/98 8,519,314 446,695 46,773
11/10/98 8,098,026 421,288 44,442
12/10/98 7,684,558 413,468 42,245
01/10/99 7,289,131 395,426 40,088
02/10/99 6,875,978 413,154 38,025
03/10/99 6,509,472 366,506 35,870
04/10/99 6,131,138 378,334 33,958
05/10/99 5,766,967 364,171 31,984
06/10/99 5,427,524 339,444 30,084
07/10/99 5,108,965 318,559 28,314
08/10/99 4,806,405 302,559 26,652
09/10/99 4,540,680 265,725 25,073
10/10/99 4,263,891 276,789 23,687
11/10/99 4,000,214 263,677 22,243
</TABLE>
FIRST UNION CAPITAL MARKETS ASSET SECURITIZATION
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disclaimer, please contact your First Union Sales Representative immediately.
<PAGE> 8
FIRST SIERRA EQUIPMENT LEASE TRUST 1996-2
Size 15,000,000
Accrued 13,042
Speed 20.00%CPR
CLASS A NOTES
====================================================
<TABLE>
<CAPTION>
Expected Principal
Distribution Date Class A Balance Repayment Amount Interest
- ----------------- --------------- ------------------ --------
<S> <C> <C> <C>
12/10/99 3,742,206 258,008 20,868
01/10/2000 3,495,161 247,045 19,522
02/10/2000 3,254,084 241,077 18,233
03/10/2000 3,041,851 212,232 16,975
04/10/2000 2,821,526 220,325 15,868
05/10/2000 2,608,319 213,207 14,719
06/10/2000 2,407,610 200,709 13,607
07/10/2000 2,214,592 193,019 12,560
08/10/2000 2,045,551 169,040 11,553
09/10/2000 1,868,843 176,708 10,671
10/10/2000 1,697,999 170,844 9,749
11/10/2000 1,532,488 165,511 8,858
12/10/2000 1,372,874 159,615 7,994
01/10/2001 1,230,506 142,367 7,162
02/10/2001 1,080,743 149,763 6,419
03/10/2001 934,548 146,196 5,638
04/10/2001 792,832 141,715 4,875
05/10/2001 672,140 120,692 4,136
06/10/2001 546,768 125,372 3,506
07/10/2001 431,272 115,495 2,852
08/10/2001 318,323 112,950 2,250
09/10/2001 222,439 95,884 1,661
10/10/2001 129,817 92,621 1,160
11/10/2001 52,231 77,586 677
12/10/2001 0 52,231 272
01/10/2002 0 0 0
02/10/2002 0 0 0
03/10/2002 0 0 0
</TABLE>
FIRST UNION CAPITAL MARKETS ASSET SECURITIZATION
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disclaimer, please contact your First Union Sales Representative immediately.
<PAGE> 9
FIRST SIERRA EQUIPMENT LEASE TRUST 1996-2
Priced to Settle on Nov 15, 1996 with accrued interest from Nov 10
Class A Certificates
<TABLE>
<CAPTION>
Prepayment Speed (CPR)
0.00% 1.00% 2.00% 3.00%
---------------------------------
<S> <C> <C> <C> <C> <C>
99.90000 6.383% 6.383% 6.383% 6.384%
99.90500 6.381% 6.381% 6.381% 6.382%
99.91000 6.379% 6.379% 6.379% 6.380%
99.91500 6.377% 6.377% 6.377% 6.377%
Security Price 99.92000 6.375% 6.375% 6.375% 6.375%
99.92500 6.373% 6.373% 6.373% 6.373%
99.93000 6.371% 6.371% 6.371% 6.371%
99.93500 6.369% 6.369% 6.369% 6.369%
99.94000 6.367% 6.367% 6.367% 6.367%
99.94500 6.364% 6.365% 6.365% 6.365%
99.95000 6.362% 6.363% 6.363% 6.363%
99.95500 6.360% 6.361% 6.361% 6.361%
99.96000 6.358% 6.359% 6.359% 6.359%
99.96500 6.356% 6.356% 6.357% 6.357%
99.97000 6.354% 6.354% 6.355% 6.355%
99.97500 6.352% 6.352% 6.352% 6.353%
99.98000 6.350% 6.350% 6.350% 6.350%
99.98500 6.348% 6.348% 6.348% 6.348%
99.99000 6.346% 6.346% 6.346% 6.346%
99.99500 6.344% 6.344% 6.344% 6.344%
100.00000 6.342% 6.342% 6.342% 6.342%
100.00500 6.340% 6.340% 6.340% 6.340%
100.01000 6.338% 6.338% 6.338% 6.338%
100.01500 6.336% 6.336% 6.336% 6.336%
100.02000 6.334% 6.334% 6.334% 6.334%
100.02500 6.332% 6.332% 6.332% 6.332%
100.03000 6.330% 6.330% 6.330% 6.330%
100.03500 6.328% 6.328% 6.328% 6.328%
100.04000 6.326% 6.326% 6.326% 6.326%
100.04500 6.324% 6.324% 6.324% 6.323%
100.05000 6.322% 6.322% 6.322% 6.321%
100.05500 6.320% 6.320% 6.319% 6.319%
100.06000 6.318% 6.318% 6.317% 6.317%
100.06500 6.316% 6.316% 6.315% 6.315%
100.07000 6.314% 6.313% 6.313% 6.313%
100.07500 6.312% 6.311% 6.311% 6.311%
100.08000 6.310% 6.309% 6.309% 6.309%
100.08500 6.308% 6.307% 6.307% 6.307%
100.09000 6.306% 6.305% 6.305% 6.305%
100.09500 6.304% 6.303% 6.303% 6.303%
100.10000 6.302% 6.301% 6.301% 6.301%
Average Life 2.80 2.78 2.76 2.74
FIRST UNION CAPITAL MARKETS ASSET SECURITIZATION
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</TABLE>
<PAGE> 10
FIRST SIERRA EQUIPMENT LEASE TRUST 1996-2
Priced to Settle on Nov 15, 1996 with accrued interest from Nov 10.
Class A Certificates
<TABLE>
<CAPTION>
Prepayment Speed (CPR)
0.00% 5.00% 10.00% 20.00%
---------------------------------
<S> <C> <C> <C> <C> <C>
99.90000 6.414% 6.415% 6.417% 6.420%
99.90500 6.412% 6.413% 6.415% 6.418%
99.91000 6.410% 6.411% 6.412% 6.415%
99.91500 6.408% 6.409% 6.410% 6.413%
Security Price 99.92000 6.405% 6.407% 6.408% 6.411%
99.92500 6.403% 6.405% 6.406% 6.408%
99.93000 6.401% 6.402% 6.404% 6.406%
99.93500 6.399% 6.400% 6.401% 6.404%
99.94000 6.397% 6.398% 6.399% 6.401%
99.94500 6.395% 6.396% 6.397% 6.399%
99.95000 6.393% 6.394% 6.395% 6.397%
99.95500 6.391% 6.392% 6.393% 6.394%
99.96000 6.389% 6.390% 6.390% 6.392%
99.96500 6.387% 6.388% 6.388% 6.389%
99.97000 6.385% 6.386% 6.386% 6.387%
99.97500 6.383% 6.383% 6.384% 6.385%
99.98000 6.381% 6.381% 6.382% 6.382%
99.98500 6.379% 6.379% 6.379% 6.380%
99.99000 6.377% 6.377% 6.377% 6.378%
99.99500 6.375% 6.375% 6.375% 6.375%
100.00000 6.373% 6.373% 6.373% 6.373%
100.00500 6.371% 6.371% 6.371% 6.371%
100.01000 6.369% 6.369% 6.369% 6.368%
100.01500 6.367% 6.367% 6.366% 6.366%
100.02000 6.365% 6.364% 6.364% 6.363%
100.02500 6.363% 6.362% 6.362% 6.361%
100.03000 6.361% 6.360% 6.360% 6.359%
100.03500 6.359% 6.358% 6.358% 6.356%
100.04000 6.357% 6.356% 6.355% 6.354%
100.04500 6.355% 6.354% 6.353% 6.352%
100.05000 6.353% 6.352% 6.351% 6.349%
100.05500 6.351% 6.350% 6.349% 6.347%
100.06000 6.349% 6.348% 6.347% 6.345%
100.06500 6.347% 6.346% 6.344% 6.342%
100.07000 6.344% 6.343% 6.342% 6.340%
100.07500 6.342% 6.341% 6.340% 6.337%
100.08000 6.340% 6.339% 6.338% 6.335%
100.08500 6.338% 6.337% 6.336% 6.333%
100.09000 6.336% 6.335% 6.334% 6.330%
100.09500 6.334% 6.333% 6.331% 6.328%
100.10000 6.332% 6.331% 6.329% 6.326%
Average Life 2.80 2.69 2.58 2.38
</TABLE>
FIRST UNION CAPITAL MARKETS ASSET SECURITIZATION
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