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<PAGE>
Exhibit 99.4
Computational Materials
$632,686,000
(Approximate)
IKON RECEIVABLES, LLC
Lease-Backed Notes, 2000-2
This series term sheet contains structural and collateral information about
the Notes; however, this series term sheet does not contain complete information
about the Notes. The information in this series term sheet is preliminary and
will be superseded by the information contained in the final prospectus
supplement and the prospectus. You should read both the preliminary prospectus
supplement and the prospectus. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security. The attached
information also contains certain tables and other statistical analyses (the
"Computational Materials"). Numerous assumptions were used in preparing the
Computational Materials which may or may not be reflected therein. As such, no
assurance can be given as to the Computational Materials' accuracy,
appropriateness or completeness in any particular context; nor as to whether the
Computational Materials and/or the assumptions upon which they are based reflect
present market conditions or future market performance. These Computational
Materials should not be construed as either projections or predictions or as
legal, tax, financial or accounting advice. Any weighted average lives, yields
and principal payment periods shown in the Computational Materials are based on
prepayment assumptions, and changes in such prepayment assumptions may
dramatically affect such weighted average lives, yields and principal payment
periods. In addition, it is possible that prepayments on the underlying assets
will occur at rates slower or faster than the rates shown in the attached
Computational Materials. The specific characteristics of the securities may
differ from those shown in the Computational Materials due to differences
between the actual underlying assets and the hypothetical underlying assets used
in preparing the Computational Materials. The principal amount and designation
of any security described in the Computational Materials are subject to change
prior to issuance. Neither Deutsche Bank Securities Inc. nor any of its
affiliates makes any representation or warranty as to the actual rate or timing
of payments on any of the underlying assets or the payments or yield on the
securities. Additional information is available upon request. These materials do
not constitute an offer to buy or sell or a solicitation of an offer to buy or
sell any security or instrument or to participate in any particular trading
strategy. ANY SUCH OFFER TO BUY OR SELL ANY SECURITY WOULD BE MADE PURSUANT TO A
DEFINITIVE PROSPECTUS AND PROSPECTUS SUPPLEMENT PREPARED BY THE ISSUER WHICH
WOULD CONTAIN MATERIAL INFORMATION NOT CONTAINED IN THESE MATERIALS. SUCH
PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL CONTAIN ALL MATERIAL INFORMATION IN
RESPECT OF ANY SUCH SECURITY OFFERED THEREBY AND ANY DECISION TO INVEST IN SUCH
SECURITIES SHOULD BE MADE SOLELY IN RELIANCE UPON SUCH PROSPECTUS AND PROSPECTUS
SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT NOT DEFINED HEREIN ARE TO BE READ IN
CONJUNCTION WITH SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. In the event of any
such offering, these materials, including any description of the Notes contained
herein, shall be deemed superseded, amended and supplemented in their entirety
by such Prospectus and Prospectus Supplement.
<PAGE>
IKON Receivables, LLC
Lease-Backed Notes, 2000-2
IOS Capital, Inc.
$632,686,000 (Approximate)
ORIGINATOR/SERVICER: IOS Capital, Inc. ("IOS Capital").
TRUSTEE: The Chase Manhattan Bank.
INSURER: Ambac Assurance Corporation.
UNDERWRITERS: Chase Securities Inc. is Lead Manager, Co-Managers are
Banc of America Securities LLC, Deutsche Banc Alex.
Brown, Lehman Brothers, and PNC Capital Markets, Inc.
The following table uses the Modeling Assumptions:
<TABLE>
<CAPTION>
=========================================================================================================================
Principal
Expected WAL Window
Approx. Ratings (Maturity/10% Call) (Maturity/10% Final Maturity ERISA
Securities Size (S&P/Moody's) @ 0.0% CPR(1) Call) (Expected/Legal) Eligible
-------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Class A-1(2) $ 193,w000,000 A-1+/P-1 0.41 yrs./0.41 yrs 1-11/1-11 Oct 2001/Dec 2001 Yes
-------------------------------------------------------------------------------------------------------------------------
Class A-2 $ 70,000,000 AAA/Aaa 1.05 yrs./1.05 yrs 11-16/11-16 Mar 2002/Sep 2002 Yes
-------------------------------------------------------------------------------------------------------------------------
Class A-3 $ 290,000,000 AAA/Aaa 2.18 yrs./2.18 yrs 16-41/16-41 Apr 2004/Oct 2004 Yes
-------------------------------------------------------------------------------------------------------------------------
Class A-4 $ 79,686,000 AAA/Aaa 3.87 yrs./3.58 yrs 41-54/41-44 May 2005/Jul 2007 Yes
=========================================================================================================================
</TABLE>
_________________________________
(1) The Securities will be priced to Maturity at 0.0% CPR.
(2) The Class A-1 Notes will be 2a-7 Money Market Eligible.
The information set forth herein is based upon the timely receipt of scheduled
Lease Payments, assumes the Closing Date is December 7, 2000, the first Payment
Date is December 15, 2000, distributions on the Notes are made on the fifteenth
day of each month (regardless of the day on which the Payment Date actually
occurs), no delinquencies or defaults in the payment of principal and interest
on the Leases are experienced, no Lease is repurchased for breach of
representation or warranty or otherwise, payments on the Leases are received on
the last day of each Collection Period, the Servicing Fee is 0.75%, the "Initial
Statistical Principal Amount" of the Class A-1 Notes, Class A-2 Notes, Class A-3
Notes, and Class A-4 Notes is $193,000,000, $70,000,000, $290,000,000 and
$79,686,000, respectively, the "Statistical Class Percentage" for the Class A
Notes is equal to 86.21552%, the Asset Pool consists of a single Lease with an
aggregate discounted present value of $702,984,744.02 on which interest is
accrued at a discount rate equal to 7.85% and the Issuer does not exercise its
option to redeem the Notes.
FOR INFORMATION CONCERNING CERTAIN RISK FACTORS THAT SHOULD BE CONSIDERED BY
PROSPECTIVE INVESTORS, SEE "RISK FACTORS" IN THE PROSPECTUS SUPPLEMENT AND
PROSPECTUS. CAPITALIZED TERMS USED HEREIN AND NOT OTHERWISE DEFINED HAVE THE
MEANINGS SET FORTH IN THE PROSPECTUS AND PROSPECTUS SUPPLEMENT.
2
<PAGE>
CUT-OFF DATE: The opening of business on November 1, 2000.
STATED MATURITY DATE: Class A-1: Payment Date occurring in December 2001.
Class A-2: Payment Date occurring in September 2002.
Class A-3: Payment Date occurring in October 2004.
Class A-4: Payment Date occurring in July 2007.
EXP. PRICING: Week of November 27, 2000.
EXP. SETTLEMENT: On or about December 7, 2000. Settles flat.
PAYMENT DATE: The 15th day of each month (or if such date is not a
business day, the immediately succeeding business day),
commencing December 15, 2000.
ERISA: Subject to the conditions set forth in the Prospectus
Supplement, the Notes are ERISA eligible.
TAX TREATMENT: For federal income tax purposes, the Notes will be
characterized as debt and the issuer will not be
treated as an association (or a publicly traded
partnership) taxable as a corporation.
OPTIONAL REDEMPTION: The Issuer may redeem the Notes when the Discounted
Present Value of the Leases is less than or equal to
10% of the Discounted Present Value of the Leases as of
November 1, 2000.
CREDIT ENHANCEMENT: Initially 11.0% in aggregate consisting of (i)
subordination of the Overcollateralization Balance
(approximately 10.0%) and (ii) the Reserve Account
(1.0%). The Issuer will obtain a noncancellable
insurance policy from Ambac Assurance Corporation with
respect to the Notes, which will unconditionally and
irrevocably guarantee timely payment of interest and
ultimate payment of principal, but subject to specific
terms and conditions set forth in the Prospectus
Supplement.
RESERVE ACCOUNT: The Trustee will establish and maintain the Reserve
Account as an Eligible Account. On the Issuance Date,
the Issuer will make an initial deposit to the Reserve
Account in an amount equal to 1.0% of the Discounted
Present Value of the Leases as of the Cut-Off Date. The
Reserve Account Required Amount will be the lesser of
1.0% of the Discounted Present Value of the Lease as of
the Cut-Off Date and the outstanding Principal Amount
of the Notes.
THE ASSET POOL: The Statistical Discounted Present Value of the Leases
as of the Cut-off Date is $702,984,744.02 using the
Statistical Discount Rate of 7.85% per annum.
SUBSTITUTIONS: The aggregate Discounted Present Value of the Non-
Performing Leases for which IOS Capital may substitute
Substitute Leases is limited to an amount not in excess
of 10% of the aggregate Discounted Present Value of the
Leases as of the Cut-Off Date. The aggregate Discounted
Present Value of Adjusted Leases and Warranty Leases
for which IOS Capital may substitute Substitute Leases
is limited to an amount not in excess of 10% of the
aggregate Discounted Present Value of the Leases as of
the Cut-Off Date.
PAYMENT PRIORITY: Available Funds will be used to make payments in the
following priority: (i) Insurance Policy Premium, (ii)
amounts due to Swap Counterparty pursuant to the Swap
Agreement, (iii) Servicing Fee, (iv) unreimbursed
Servicer Advances, (v) Class A Interest, (vi)
reimbursements to the Insurer, (vii) the Class A
3
<PAGE>
Principal Payment to (1) the Class A-1 Noteholders
only, until the Outstanding Principal Amount on the
Class A-1 Notes is reduced to zero, then (2) to the
Class A-2 Noteholders only, until the Outstanding
Principal Amount on the Class A-2 Notes is reduced to
zero, then (3) to the Class A-3 Noteholders, until the
Outstanding Principal Amount on the Class A-3 Notes is
reduced to zero, and finally (4) to the Class A-4
Noteholders, until the Outstanding Principal Amount on
the Class A-4 Notes is reduced to zero, (viii)
Additional Principal, if any, (ix) Reserve Account, if
necessary, and (x) excess to the Issuer.
ACCELERATION EVENT: An "Acceleration Event" will occur if (i) a Servicer
Event of Default has occurred and is continuing, (ii)
with respect to any Payment Date, the
Overcollateralization Balance is less than or equal to
the Overcollateralization Floor, (iii) for any three
consecutive Due Periods, the average of the Annualized
Default Rates for those Due Periods is greater than
6.25%; or (iv) for any three consecutive Due Periods,
the average of the Delinquency Rates for those Due
Periods is greater than 8.00%.
If an Acceleration Event has occurred, Additional
Principal will be distributed as an additional
principal payment, to (1) the Class A-1 Noteholders
only, until the Outstanding Principal Amount on the
Class A-1 Notes is reduced to zero, then (2) to the
Class A-2 Noteholders only, until the Outstanding
Principal Amount on the Class A-2 Notes is reduced to
zero, then (3) to the Class A-3 Noteholders only, until
the Outstanding Principal Amount on the Class A-3 Notes
is reduced to zero, and finally (4) to the Class A-4
Noteholders, until the Outstanding Principal Amount on
the Class A-4 Notes is reduced to zero.
OVERCOLLATERALIZATION
FLOOR: The "Overcollateralization Floor" for each Payment Date
means (a) 2.5% of the Discounted Present Value of the
Leases as of the Cut-Off Date, plus (b) the Cumulative
Loss Amount with respect to that Payment Date, minus
(c) the amount on deposit in the Reserve Account after
giving effect to withdrawals to be made on account of
that Payment Date.
CUMULATIVE LOSS
AMOUNT: The "Cumulative Loss Amount" with respect to each
Payment Date is an amount equal to the excess, if any,
of (a) the total of (i) the Outstanding Principal
Amount of the Notes as of the immediately preceding
Payment Date after giving effect to all principal
payments made on that day, plus (ii) the
Overcollateralization Balance as of the immediately
preceding Payment Date, minus (iii) the lesser of (A)
the Discounted Present Value of the Performing Leases
as of the Determination Date relating to the
immediately preceding Payment Date minus the Discounted
Present Value of the Performing Leases as of the
related Determination Date and (B) Available Funds
remaining after the payment of the Policy premium,
amounts owing the Servicer and in respect of interest
on the Notes on that Payment Date, over (b) the
Discounted Present Value of the Performing Leases as of
the related Determination Date.
INTEREST ON THE
CLASS A-1, A-3 and
A-4 NOTES: The Class A-1 Notes will bear interest at a fixed rate
and the Class A-3 Notes and Class A-4 Notes will be
variable rate notes. Interest on the Class A-1 Notes,
Class A-3 Notes and Class A-4 Notes will be calculated
on the basis of a year of 360 days and the actual
number of days in the interest accrual period. The
Class A-1, Class A-3 and Class A-4 Monthly Interest,
with respect to each Payment Date, will accrue from and
including the prior Payment Date to but excluding
4
<PAGE>
such Payment Date, and with respect to the initial
Payment Date, will accrue from and including the
Settlement Date to but excluding such Payment Date.
INTEREST ON THE CLASS
A-2 NOTES: The Class A-2 Notes will accrue interest at a fixed
rate per annum, calculated on a twelve month year of
thirty days in each month, except for the first Payment
Date, for which interest will accrue from the
Settlement Date to but excluding such Payment Date.
5
<PAGE>
CHARACTERISTICS OF THE LEASES
-----------------------------
The following tables summarize certain information with respect to the Leases
and the Lessees as of the opening of business on November 1, 2000 (the "Cut-Off
Date"). The Issuer is not aware of any trends or changes relating to the data in
the following tables that would be expected to impact the future performance of
the pool of leases. As used in such tables, the "Statistical Discounted Present
Value of the Leases" means an amount equal to the future remaining scheduled
Lease Payments from the Leases as of the Cut-Off Date, using the Statistical
Discount Rate equal to 7.85%. The aggregate Statistical Discounted Present Value
of the Leases as of the Cut-Off Date is $702,984,744.02. Certain leases may be
removed from the Asset Pool prior to the Issuance Date in an amount no more than
5% of the Asset Pool. This removal would result in a decrease in the Initial
Principal Amount of the Notes issued on the Issuance Date. However, this removal
would not materially affect the distribution of the Leases detailed below. Also,
figures may not sum to the stated totals due to rounding.
Summary of the Leases
Aggregate Statistical Discounted Present Value: $702,984,744.02
Number of Leases: 47,687
Average Statistical Discounted Present Value: $14,741.64
Approximate Number of Lessees: 30,533
Weighted Average Original Term: 51.9 months
Weighted Average Seasoning: 10.2 months
Weighted Average Remaining Term: 41.6 months
Top Equipment Types
-------------------
%*
----------
Digital/Multi-purpose Copier 58.50%
Analog Copier 21.19
Color Copier 14.52
Fax Machine 2.67
Printer 1.83
Other 1.30
----------
100.00%
Lessee State concentrations over 5% of the pool:
------------------------------------------------
%*
----------
Texas 16.16%
Pennsylvania 9.15
California 8.53
Georgia 5.99
Other 60.17
----------
100.00%
__________________________________________
* Percentages above are based on the Statistical Discounted Present Value of the
Leases as of the Cut-Off Date.
6
<PAGE>
Distribution of Leases by State/(1)/
<TABLE>
<CAPTION>
Percentage of
Percentage Statistical Statistical
of Discounted Discounted
Number of Number of Present Present Value
State Leases Leases Value of Leases of Leases
----------------------------- ----------------- ------------- ------------------- -----------------
<S> <C> <C> <C> <C>
Alabama 571 1.20% $ 7,835,250.11 1.11%
Alaska 64 0.13 1,515,451.93 0.22
Arizona 822 1.72 14,715,244.85 2.09
Arkansas 158 0.33 3,786,564.01 0.54
California 3,029 6.35 59,998,047.48 8.53
Colorado 608 1.27 10,391,580.79 1.48
Connecticut 1,109 2.33 19,061,519.82 2.71
Delaware 24 0.05 266,211.40 0.04
District of Columbia 176 0.37 4,168,504.30 0.59
Florida 2,384 5.00 31,235,776.94 4.44
Georgia 2,705 5.67 42,078,265.33 5.99
Hawaii 50 0.10 954,574.46 0.14
Idaho 231 0.48 3,018,164.03 0.43
Illinois 1,043 2.19 17,258,786.46 2.46
Indiana 860 1.80 16,517,541.08 2.35
Iowa 424 0.89 5,015,513.72 0.71
Kansas 339 0.71 4,724,725.76 0.67
Kentucky 445 0.93 6,932,636.79 0.99
Louisiana 29 0.06 215,754.06 0.03
Maine 219 0.46 4,742,426.31 0.67
Maryland 518 1.09 9,473,734.15 1.35
Massachusetts 1,742 3.65 32,104,072.24 4.57
Michigan 1,454 3.05 17,736,920.67 2.52
Minnesota 1,298 2.72 17,029,983.68 2.42
Mississippi 322 0.68 3,328,519.33 0.47
Missouri 1,441 3.02 22,738,438.27 3.23
Montana 42 0.09 397,511.78 0.06
Nebraska 217 0.46 3,218,155.00 0.46
Nevada 622 1.30 8,086,250.36 1.15
New Hampshire 249 0.52 4,749,160.83 0.68
New Jersey 438 0.92 8,969,040.20 1.28
New Mexico 218 0.46 3,932,478.98 0.56
New York 1,323 2.77 21,621,478.45 3.08
North Carolina 1,367 2.87 19,773,288.03 2.81
North Dakota 2 0.00 10,598.98 0.00
Ohio 893 1.87 17,705,021.28 2.52
Oklahoma 239 0.50 5,272,599.08 0.75
Oregon 764 1.60 7,792,905.32 1.11
Pennsylvania 4,058 8.51 64,303,852.76 9.15
Rhode Island 335 0.70 5,388,241.94 0.77
South Carolina 662 1.39 13,801,591.07 1.96
South Dakota 59 0.12 541,675.63 0.08
Tennessee 291 0.61 4,739,847.54 0.67
Texas 10,842 22.74 113,625,232.96 16.16
Utah 281 0.59 4,666,548.54 0.66
Vermont 123 0.26 1,538,382.26 0.22
Virginia 876 1.84 13,973,827.06 1.99
Washington 1,276 2.68 15,713,876.11 2.24
West Virginia 48 0.10 522,487.74 0.07
Wisconsin 297 0.62 4,704,662.88 0.67
Wyoming 100 0.21 1,091,821.25 0.16
==================================================================================================================
Total: 47,687 100.00% $702,984,744.02 100.00%
==================================================================================================================
</TABLE>
(1) Based on the location of the lessees.
7
<PAGE>
Distribution of Leases by Lease Balance
<TABLE>
<CAPTION>
Percentage of
Statistical Statistical
Percentage of Discounted Discounted
Statistical Discounted Number of Number of Present Value of Present Value
Present Value of the Leases Leases Leases Leases of Leases
-------------------------------- -------------- --------------- ------------------- -----------------
<S> <C> <C> <C> <C>
0.01 to 5,000.00 17,931 37.60% $ 44,798,756.22 6.37%
5,000.01 to 10,000.00 11,816 24.78 85,881,200.16 12.22
10,000.01 to 15,000.00 5,976 12.53 73,080,265.61 10.40
15,000.01 to 20,000.00 3,370 7.07 58,299,359.57 8.29
20,000.01 to 25,000.00 2,113 4.43 47,281,344.13 6.73
25,000.01 to 30,000.00 1,412 2.96 38,554,286.81 5.48
30,000.01 to 40,000.00 1,641 3.44 56,840,894.30 8.09
40,000.01 to 50,000.00 1,032 2.16 45,973,848.85 6.54
50,000.01 to 60,000.00 609 1.28 33,357,753.84 4.75
60,000.01 to 70,000.00 397 0.83 25,617,143.01 3.64
70,000.01 to 80,000.00 297 0.62 22,208,655.36 3.16
80,000.01 to 90,000.00 226 0.47 19,140,704.80 2.72
90,000.01 to 100,000.00 162 0.34 15,326,115.84 2.18
100,000.01 to 150,000.00 370 0.78 44,662,155.08 6.35
150,000.01 to 200,000.00 144 0.30 24,551,103.76 3.49
200,000.01 to 300,000.00 102 0.21 24,852,597.22 3.54
300,000.01 to 400,000.00 43 0.09 14,893,715.30 2.12
400,000.01 to 500,000.00 23 0.05 10,112,852.25 1.44
500,000.01 to 600,000.00 9 0.02 4,887,353.59 0.70
600,000.01 to 700,000.00 4 0.01 2,509,157.46 0.36
700,000.01 to 800,000.00 2 0.00 1,494,467.37 0.21
800,000.01 to 900,000.00 3 0.01 2,470,253.32 0.35
900,000.01 to 1,000,000.00 1 0.00 961,809.87 0.14
1,000,000.01 to 1,500,000.00 3 0.01 3,674,429.86 0.52
1,500,000.01 to 2,000,000.00 1 0.00 1,554,520.44 0.22
================================================================================================================
Total: 47,687 100.00% $702,984,744.02 100.00%
================================================================================================================
</TABLE>
Distribution of Leases by Remaining Term to Maturity
<TABLE>
<CAPTION>
Percentage of
Statistical
Percentage of Statistical Discounted
Number of Number of Discounted Present Present Value
Remaining Term (months) Leases Leases Value Leases of Leases
-------------------------- ------------ --------------- ------------------- -----------------
<S> <C> <C> <C> <C>
1 to 12 4,428 9.29% $ 15,262,253.95 2.17%
13 to 24 8,684 18.21 62,845,137.26 8.94
25 to 36 15,569 32.65 190,353,354.83 27.08
37 to 48 8,043 16.87 143,776,441.62 20.45
49 to 60 10,945 22.95 287,104,284.67 40.84
61 to 72 18 0.04 3,643,271.69 0.52
=========================================================================================================
Total: 47,687 100.00% $702,984,744.02 100.00%
=========================================================================================================
</TABLE>
8
<PAGE>
Distribution of Leases by Original Term to Maturity
<TABLE>
<CAPTION>
Percentage
of
Statistical
Percentage Statistical Discounted
Number of Number of Discounted Present Present Value
Original Term (months) Leases Leases Leases of Leases
------------------------- ------------ ----------- -------------------- -----------------
<S> <C> <C> <C> <C>
1 to 12 530 1.11% $ 1,663,053.84 0.24%
13 to 24 1,589 3.33 9,334,664.06 1.33
25 to 36 15,595 32.70 141,820,058.64 20.17
37 to 48 10,974 23.01 134,666,638.60 19.16
49 to 60 18,410 38.61 395,750,924.72 56.30
61 to 72 533 1.12 18,706,135.32 2.66
73 to 84 37 0.08 757,438.35 0.11
85 to 96 15 0.03 251,475.48 0.04
97 to 108 3 0.01 32,945.03 0.00
109 to 120 1 0.00 1,409.98 0.00
===================================================================================================
Total: 47,687 100.00% $702,984,744.02 100.00%
===================================================================================================
</TABLE>
Distribution of Leases by Purchase Option
<TABLE>
<CAPTION>
Percentage
of
Statistical
Percentage Statistical Discounted
Number of Number of Discounted Present Present Value
Purchase Option Leases Leases Leases of Leases
--------------------------- ------------ ----------- -------------------- -----------------
<S> <C> <C> <C> <C>
Fair Market Value 45,062 94.50% $678,593,563.00 96.53%
Nominal Buyout 2,625 5.50 24,391,181.02 3.47
===================================================================================================
Total: 47,687 100.00% $702,984,744.02 100.00%
===================================================================================================
</TABLE>
Distribution of Leases by Delinquencies
<TABLE>
<CAPTION>
Percentage
of
Statistical
Percentage Statistical Discounted
Number of Number of Discounted Present Present Value
Days Delinquent Leases Leases Leases of Leases
--------------------------- ------------ ----------- -------------------- -----------------
<S> <C> <C> <C> <C>
0 to 30 44,081 92.44% $643,576,615.39 91.55%
31 to 60 3,606 7.56 59,408,128.63 8.45
===================================================================================================
Total: 47,687 100.00% $702,984,744.02 100.00%
===================================================================================================
</TABLE>
Distribution of Leases by Equipment Type
<TABLE>
<CAPTION>
Percentage
of
Statistical
Percentage Statistical Discounted
Number of Number of Discounted Present Present Value
Equipment Type Leases Leases Leases of Leases
--------------------------- ------------ ----------- -------------------- -----------------
<S> <C> <C> <C> <C>
Digital/Multi-purpose 21,593 45.28% $411,237,689.23 58.50%
Copier
Analog Copier 15,689 32.90 148,943,221.98 21.19
Color Copier 3,004 6.30 102,043,944.93 14.52
Fax Machine 5,380 11.28 18,779,397.66 2.67
Printer 479 1.00 12,858,617.13 1.83
Miscellaneous 1,542 3.23 9,121,873.08 1.30
===================================================================================================
Total: 47,687 100.00% $702,984,744.02 100.00%
===================================================================================================
</TABLE>
9
<PAGE>
The charts on the following pages set forth the percentage of the
Initial Principal Amount of the Class A-1 Notes, Class A-2 Notes, Class A-3
Notes and Class A-4 Notes which would be outstanding on the Payment Dates set
forth below assuming a Conditional Prepayment Rate ("CPR") of 0%, 7%, 10% and
12%, respectively, which in each case was calculated using a discount rate of
7.85%. The Initial Statistical Principal Amounts of the Class A-1 Notes,
Class A-2 Notes, Class A-3 Notes and Class A-4 Notes are approximately
$193,000,000, $70,000,000, $290,000,000 and $79,686,000, respectively. The
"Statistical Class A Percentage" for the Class A Notes is equal to 86.21552%.
This information is hypothetical and is set forth for illustrative purposes
only. The CPR assumes that a fraction of the outstanding Leases in the Asset
Pool is prepaid on each Distribution Date, which implies that each Lease in the
Asset Pool is equally likely to prepay. This fraction, expressed as a
percentage, is annualized to arrive at the Conditional Payment Rate for the
Leases in the Asset Pool. The CPR measures prepayments based on the outstanding
discounted present value of the Leases discounted at 7.85%, after the payment of
all scheduled payments on the Leases during the related Due Period. The CPR
further assumes that all Leases are the same size and amortize at the same rate
and that each Lease will be either paid as scheduled or prepaid in full. The
amounts set forth below are based upon the timely receipt of scheduled monthly
Lease Payments as of the Cut-Off Date, assume that the Issuer does not exercise
its option to redeem the Notes (except as indicated), assume that no
Acceleration Event has occurred, assume that the amount on deposit in the
Reserve Account on each Payment Date is equal to the Required Reserve Amount,
assume that payments on the Notes are made on each Payment Date (and each such
date is assumed to be the fifteenth day of each applicable month) and assume the
Issuance Date is December 7, 2000 and the first Payment Date is December 15,
2000 (collectively the "Modeling Assumptions").
10
<PAGE>
PREPAYMENT SENSITIVITIES*
<TABLE>
<CAPTION>
To Maturity (WAL/Principal Window)
-------------------------------------------------------------------------------------------------------------------------
Class 0% CPR** 7% CPR 10% CPR 12% CPR
-------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Class A-1 Notes 0.41 yrs./1-11 mos. 0.34 Yrs./1-9 mos. 0.32 yrs./1-9 mos. 0.30rs./1-8 mos.
-------------------------------------------------------------------------------------------------------------------------
Class A-2 Notes 1.05 yrs./11-16 mos. 0.90 yrs./9-14 mos. 0.84 yrs./9-13 mos. 0.81 yrs./8-12 mos.
-------------------------------------------------------------------------------------------------------------------------
Class A-3 Notes 2.18yrs./16-41 mos. 1.96 yrs./14-38 mos. 1.88yrs./13-37 mos. 1.82 yrs./12-36 mos.
-------------------------------------------------------------------------------------------------------------------------
Class A-4 Notes 3.87 yrs./41-54 mos. 3.69 yrs./38-53 mos. 3.61 yrs./37-53 mos. 3.55 yrs./36-52 mos.
-------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
To 10% Call (WAL/Principal Window)
-------------------------------------------------------------------------------------------------------------------------
Class 0% CPR** 7% CPR 10% CPR 12% CPR
-------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Class A-1 Notes 0.41 yrs./1-11 mos. 0.34 Yrs./1-9 mos. 0.32 yrs./1-9 mos. 0.30rs./1-8 mos.
-------------------------------------------------------------------------------------------------------------------------
Class A-2 Notes 1.05 yrs./11-16 mos. 0.90 yrs./9-14 mos. 0.84 yrs./9-13 mos. 0.81 yrs./8-12 mos.
-------------------------------------------------------------------------------------------------------------------------
Class A-3 Notes 2.18yrs./16-41 mos. 1.96 yrs./14-38 mos. 1.88yrs./13-37 mos. 1.82 yrs./12-36 mos.
-------------------------------------------------------------------------------------------------------------------------
Class A-4 Notes 3.58 yrs./41-44 mos. 3.33 yrs./38-41 mos. 3.25 yrs./37-40 mos. 3.23 yrs./36-40 mos.
-------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Prepayment sensitivities derived using the Modeling Assumptions.
** Pricing Speed is 0% CPR.
11
<PAGE>
PRICE YIELD TABLE*
------------------
IKON Receivables, LLC Lease-Backed Notes, Series 2000-2
Class A-1 Notes
Assumed Coupon = 6.7300%
<TABLE>
<CAPTION>
% CPR
0.00% 7.00% 10.00% 12.00%
---------------------------------------------------------------------------------------------
PRICE Monthly Yield (%) Monthly Yield (%) Monthly Yield (%) Monthly Yield (%)
----------------- ----------------- ----------------- -----------------
<S> <C> <C> <C> <C>
98.000 11.699 12.719 13.173 13.520
98.125 11.384 12.338 12.764 13.089
98.250 11.069 11.959 12.356 12.658
98.375 10.755 11.580 11.949 12.229
98.500 10.442 11.203 11.542 11.801
98.625 10.129 10.826 11.136 11.373
98.750 9.817 10.449 10.732 10.947
98.875 9.505 10.074 10.328 10.521
99.000 9.195 9.699 9.925 10.096
99.125 8.884 9.326 9.522 9.672
99.250 8.575 8.952 9.121 9.249
99.375 8.266 8.580 8.720 8.827
99.500 7.957 8.209 8.321 8.406
99.625 7.650 7.838 7.922 7.986
99.750 7.342 7.468 7.524 7.566
99.875 7.036 7.099 7.126 7.148
100.000 6.730 6.730 6.730 6.730
100.125 6.425 6.362 6.334 6.313
100.250 6.120 5.995 5.940 5.897
100.375 5.816 5.629 5.546 5.482
100.500 5.512 5.263 5.153 5.068
100.625 5.209 4.899 4.760 4.655
100.750 4.907 4.535 4.369 4.242
100.875 4.605 4.171 3.978 3.831
101.000 4.304 3.809 3.588 3.420
101.125 4.004 3.447 3.199 3.010
101.250 3.704 3.086 2.811 2.601
101.375 3.405 2.726 2.423 2.193
101.500 3.106 2.366 2.037 1.785
101.625 2.808 2.007 1.651 1.379
101.750 2.510 1.649 1.266 0.973
101.875 2.213 1.291 0.881 0.568
102.000 1.916 0.935 0.498 0.164
102.125 1.621 0.579 0.115 -0.239
Weighted Average Life
(years) 0.41 0.34 0.32 0.30
Modified Duration
(years) at 100.000 0.40 0.33 0.31 0.29
</TABLE>
* Price Yield Table derived using the Modeling Assumptions.
12
<PAGE>
PRICE YIELD TABLE*
------------------
IKON Receivables, LLC Lease-Backed Notes, Series 2000-2
Class A-2 Notes
Assumed Coupon = 6.7100%
<TABLE>
<CAPTION>
% CPR
0.00% 7.00% 10.00% 12.00%
---------------------------------------------------------------------------------------------
PRICE CBE Yield (%) CBE Yield (%) CBE Yield (%) CBE Yield (%)
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
98.000 8.871 9.209 9.371 9.478
98.125 8.740 9.056 9.208 9.308
98.250 8.609 8.904 9.045 9.139
98.375 8.478 8.752 8.883 8.970
98.500 8.348 8.601 8.721 8.801
98.625 8.218 8.449 8.560 8.633
98.750 8.089 8.298 8.399 8.465
98.875 7.959 8.148 8.238 8.297
99.000 7.830 7.997 8.077 8.130
99.125 7.701 7.847 7.917 7.963
99.250 7.572 7.697 7.757 7.797
99.375 7.444 7.548 7.598 7.631
99.500 7.315 7.399 7.438 7.465
99.625 7.187 7.250 7.280 7.299
99.750 7.060 7.101 7.121 7.134
99.875 6.932 6.953 6.963 6.969
100.000 6.805 6.805 6.805 6.805
100.125 6.678 6.657 6.647 6.641
100.250 6.551 6.510 6.490 6.477
100.375 6.424 6.363 6.333 6.314
100.500 6.298 6.216 6.177 6.151
100.625 6.172 6.069 6.020 5.988
100.750 6.046 5.923 5.864 5.825
100.875 5.921 5.777 5.709 5.663
101.000 5.795 5.632 5.553 5.502
101.125 5.670 5.486 5.398 5.340
101.250 5.545 5.341 5.244 5.179
101.375 5.421 5.196 5.089 5.018
101.500 5.296 5.052 4.935 4.858
101.625 5.172 4.908 4.781 4.698
101.750 5.048 4.764 4.628 4.538
101.875 4.924 4.620 4.475 4.379
102.000 4.801 4.477 4.322 4.220
102.125 4.678 4.334 4.169 4.061
Weighted Average Life
(years) 1.05 0.90 0.84 0.81
Modified Duration
(years) at 99.999 0.98 0.85 0.79 0.76
</TABLE>
* Price Yield Table derived using the Modeling Assumptions.
13
<PAGE>
PRICE YIELD TABLE*
------------------
IKON Receivables, LLC Lease-Backed Notes, Series 2000-2
Class A-3 Notes
Assumed Coupon = 6.8175%
<TABLE>
<CAPTION>
% CPR
0.00% 7.00% 10.00% 12.00%
------------------------------------------------------------------------------------------------------------
PRICE Discounted Margin (%) Discounted Margin (%) Discounted Margin (%) Discounted Margin (%)
--------------------- --------------------- --------------------- ---------------------
<S> <C> <C> <C> <C>
98.000 1.196 1.297 1.345 1.378
98.125 1.133 1.228 1.272 1.303
98.250 1.070 1.158 1.200 1.229
98.375 1.008 1.089 1.128 1.155
98.500 0.945 1.020 1.056 1.081
98.625 0.882 0.951 0.984 1.007
98.750 0.820 0.882 0.912 0.933
98.875 0.757 0.814 0.840 0.859
99.000 0.695 0.745 0.769 0.785
99.125 0.633 0.677 0.697 0.712
99.250 0.571 0.608 0.626 0.638
99.375 0.509 0.540 0.555 0.565
99.500 0.447 0.472 0.484 0.492
99.625 0.385 0.404 0.413 0.419
99.750 0.323 0.336 0.342 0.346
99.875 0.262 0.268 0.271 0.273
100.000 0.200 0.200 0.200 0.200
100.125 0.139 0.132 0.129 0.127
100.250 0.077 0.065 0.059 0.055
100.375 0.016 -0.003 -0.012 -0.018
100.500 -0.045 -0.070 -0.082 -0.090
100.625 -0.107 -0.138 -0.152 -0.162
100.750 -0.168 -0.205 -0.222 -0.235
100.875 -0.229 -0.272 -0.292 -0.307
101.000 -0.289 -0.339 -0.362 -0.379
101.125 -0.350 -0.406 -0.432 -0.450
101.250 -0.411 -0.473 -0.502 -0.522
101.375 -0.471 -0.539 -0.571 -0.594
101.500 -0.532 -0.606 -0.641 -0.665
101.625 -0.592 -0.672 -0.710 -0.737
101.750 -0.653 -0.739 -0.780 -0.808
101.875 -0.713 -0.805 -0.849 -0.879
102.000 -0.773 -0.871 -0.918 -0.950
102.125 -0.833 -0.938 -0.987 -1.021
Weighted Average
Life (years) 2.18 1.96 1.88 1.82
Modified Duration
(years) at 100.000 1.97 1.79 1.72 1.67
</TABLE>
* Price Yield Table derived using the Modeling Assumptions.
14
<PAGE>
PRICE YIELD TABLE*
------------------
IKON Receivables, LLC Lease-Backed Notes, Series 2000-2
Class A-4 Notes
Assumed Coupon = 6.8675%
<TABLE>
<CAPTION>
% CPR
0.00% 7.00% 10.00% 12.00%
------------------------------------------------------------------------------------------------------------
PRICE Discounted Margin (%) Discounted Margin (%) Discounted Margin (%) Discounted Margin (%)
--------------------- --------------------- --------------------- ---------------------
<S> <C> <C> <C> <C>
98.000 0.840 0.864 0.877 0.886
98.125 0.803 0.826 0.837 0.846
98.250 0.765 0.787 0.798 0.805
98.375 0.728 0.748 0.758 0.765
98.500 0.691 0.709 0.719 0.725
98.625 0.654 0.671 0.679 0.685
98.750 0.617 0.632 0.640 0.646
98.875 0.580 0.594 0.601 0.606
99.000 0.543 0.555 0.562 0.566
99.125 0.506 0.517 0.522 0.526
99.250 0.470 0.479 0.483 0.487
99.375 0.433 0.441 0.444 0.447
99.500 0.396 0.402 0.405 0.408
99.625 0.360 0.364 0.366 0.368
99.750 0.323 0.326 0.328 0.329
99.875 0.286 0.288 0.289 0.289
100.000 0.250 0.250 0.250 0.250
100.125 0.214 0.212 0.211 0.211
100.250 0.177 0.174 0.173 0.172
100.375 0.141 0.136 0.134 0.132
100.500 0.105 0.099 0.095 0.093
100.625 0.068 0.061 0.057 0.054
100.750 0.032 0.023 0.019 0.015
100.875 -0.004 -0.014 -0.020 -0.024
101.000 -0.040 -0.052 -0.058 -0.063
101.125 -0.076 -0.090 -0.096 -0.101
101.250 -0.112 -0.127 -0.135 -0.140
101.375 -0.148 -0.164 -0.173 -0.179
101.500 -0.184 -0.202 -0.211 -0.217
101.625 -0.220 -0.239 -0.249 -0.256
101.750 -0.256 -0.276 -0.287 -0.295
101.875 -0.291 -0.314 -0.325 -0.333
102.000 -0.327 -0.351 -0.363 -0.372
102.125 -0.363 -0.388 -0.401 -0.410
Weighted Average
Life (years) 3.87 3.69 3.61 3.55
Modified Duration
(years) at 100.000 3.33 3.20 3.14 3.09
</TABLE>
* Price Yield Table derived using the Modeling Assumptions.
15
<PAGE>
<TABLE>
<CAPTION>
Percentage of the Initial Principal Amounts at the Respective CPR Set Forth Below
==================================================================================================================
0% CPR
----------------------------------------------------------------------------
Payment Date Class A-1 Class A-2 Class A-3 Class A-4
-------------------------------- --------------- --------------- ---------------- ------------------
<S> <C> <C> <C> <C>
Issuance Date 100 100 100 100
15-Dec-00 89 100 100 100
15-Jan-01 80 100 100 100
15-Feb-01 71 100 100 100
15-Mar-01 61 100 100 100
15-Apr-01 52 100 100 100
15-May-01 42 100 100 100
15-Jun-01 33 100 100 100
15-Jul-01 23 100 100 100
15-Aug-01 14 100 100 100
15-Sep-01 5 100 100 100
15-Oct-01 0 90 100 100
15-Nov-01 0 68 100 100
15-Dec-01 0 47 100 100
15-Jan-02 0 25 100 100
15-Feb-02 0 4 100 100
15-Mar-02 0 0 96 100
15-Apr-02 0 0 91 100
15-May-02 0 0 86 100
15-Jun-02 0 0 81 100
15-Jul-02 0 0 76 100
15-Aug-02 0 0 71 100
15-Sep-02 0 0 67 100
15-Oct-02 0 0 62 100
15-Nov-02 0 0 58 100
15-Dec-02 0 0 53 100
15-Jan-03 0 0 49 100
15-Feb-03 0 0 44 100
15-Mar-03 0 0 40 100
15-Apr-03 0 0 36 100
15-May-03 0 0 32 100
15-Jun-03 0 0 28 100
15-Jul-03 0 0 25 100
15-Aug-03 0 0 21 100
15-Sep-03 0 0 18 100
15-Oct-03 0 0 15 100
15-Nov-03 0 0 13 100
15-Dec-03 0 0 10 100
15-Jan-04 0 0 7 100
15-Feb-04 0 0 4 100
15-Mar-04 0 0 2 100
15-Apr-04 0 0 0 97
15-May-04 0 0 0 89
15-Jun-04 0 0 0 80
15-Jul-04 0 0 0 71
15-Aug-04 0 0 0 62
15-Sep-04 0 0 0 53
15-Oct-04 0 0 0 46
15-Nov-04 0 0 0 38
15-Dec-04 0 0 0 30
15-Jan-05 0 0 0 23
15-Feb-05 0 0 0 16
15-Mar-05 0 0 0 9
15-Apr-05 0 0 0 3
15-May-05 0 0 0 0
Weighted Average Life (years) 0.41 1.05 2.18 3.87
First Principal Date Dec-00 Oct-01 Mar-02 Apr-04
Expected Final Maturity Oct-01 Mar-02 Apr-04 May-05
Weighted Avg. Life to Call (years) 3.58
Optional Clean-Up Call Date N/A N/A N/A ____Jul-04
</TABLE>
(1) The weighted average life of a Class A-1 Note, Class A-2 Note, Class A-3
Note and Class A-4 Note is determined by (a) multiplying the amount of cash
distributions in reduction of the Outstanding Principal Amount of the
respective Note by the number of years from the Issuance Date to the
relevant Payment Date, (b) adding the results, and (c) dividing the sum by
the Initial Principal Amount of the applicable class.
16
<PAGE>
<TABLE>
<CAPTION>
Percentage of the Initial Principal Amounts at the Respective CPR Set Forth Below
==================================================================================================================
7% CPR
-------------------------------------------------------------------------------
Payment Date Class A-1 Class A-2 Class A-3 Class A-4
-------------------------------- ------------------ ----------------- --------------- ------------------
<S> <C> <C> <C> <C>
Issuance Date 100 100 100 100
15-Dec-00 87 100 100 100
15-Jan-01 76 100 100 100
15-Feb-01 64 100 100 100
15-Mar-01 53 100 100 100
15-Apr-01 42 100 100 100
15-May-01 31 100 100 100
15-Jun-01 20 100 100 100
15-Jul-01 10 100 100 100
15-Aug-01 0 98 100 100
15-Sep-01 0 74 100 100
15-Oct-01 0 50 100 100
15-Nov-01 0 26 100 100
15-Dec-01 0 3 100 100
15-Jan-02 0 0 95 100
15-Feb-02 0 0 90 100
15-Mar-02 0 0 85 100
15-Apr-02 0 0 79 100
15-May-02 0 0 74 100
15-Jun-02 0 0 69 100
15-Jul-02 0 0 64 100
15-Aug-02 0 0 60 100
15-Sep-02 0 0 55 100
15-Oct-02 0 0 50 100
15-Nov-02 0 0 46 100
15-Dec-02 0 0 42 100
15-Jan-03 0 0 38 100
15-Feb-03 0 0 33 100
15-Mar-03 0 0 29 100
15-Apr-03 0 0 26 100
15-May-03 0 0 22 100
15-Jun-03 0 0 19 100
15-Jul-03 0 0 15 100
15-Aug-03 0 0 13 100
15-Sep-03 0 0 10 100
15-Oct-03 0 0 7 100
15-Nov-03 0 0 5 100
15-Dec-03 0 0 2 100
15-Jan-04 0 0 0 100
15-Feb-04 0 0 0 92
15-Mar-04 0 0 0 84
15-Apr-04 0 0 0 75
15-May-04 0 0 0 66
15-Jun-04 0 0 0 58
15-Jul-04 0 0 0 51
15-Aug-04 0 0 0 44
15-Sep-04 0 0 0 37
15-Oct-04 0 0 0 31
15-Nov-04 0 0 0 25
15-Dec-04 0 0 0 19
15-Jan-05 0 0 0 14
15-Feb-05 0 0 0 8
15-Mar-05 0 0 0 3
15-Apr-05 0 0 0 0
15-May-05 0 0 0 0
Weighted Average Life (years) 0.34 0.90 1.96 3.69
First Principal Date Dec-00 Aug-01 Jan-02 Jan-04
Expected Final Maturity Aug-01 Jan-02 Jan-04 Apr-05
Weighted Avg. Life to Call (years) 3.33
Optional Clean-Up Call Date N/A N/A N/A Apr-04
</TABLE>
(1) The weighted average life of a Class A-1 Note, Class A-2 Note, Class A-3
Note and Class A-4 Note is determined by (a) multiplying the amount of cash
distributions in reduction of the Outstanding Principal Amount of the
respective Note by the number of years from the Issuance Date to the
relevant Payment Date, (b) adding the results, and (c) dividing the sum by
the Initial Principal Amount of the applicable class.
17
<PAGE>
<TABLE>
<CAPTION>
Percentage of the Initial Principal Amounts at the Respective CPR Set Forth Below
==================================================================================================================
10% CPR
--------------------------------------------------------------------------------
Payment Date Class A-1 Class A-2 Class A-3 Class A-4
------------------------------ -------------------- ----------------- ------------------ -------------------
<S> <C> <C> <C> <C>
Issuance Date 100 100 100 100
15-Dec-00 86 100 100 100
15-Jan-01 74 100 100 100
15-Feb-01 62 100 100 100
15-Mar-01 50 100 100 100
15-Apr-01 38 100 100 100
15-May-01 26 100 100 100
15-Jun-01 15 100 100 100
15-Jul-01 4 100 100 100
15-Aug-01 0 83 100 100
15-Sep-01 0 58 100 100
15-Oct-01 0 33 100 100
15-Nov-01 0 8 100 100
15-Dec-01 0 0 96 100
15-Jan-02 0 0 91 100
15-Feb-02 0 0 85 100
15-Mar-02 0 0 80 100
15-Apr-02 0 0 74 100
15-May-02 0 0 69 100
15-Jun-02 0 0 64 100
15-Jul-02 0 0 60 100
15-Aug-02 0 0 55 100
15-Sep-02 0 0 50 100
15-Oct-02 0 0 46 100
15-Nov-02 0 0 41 100
15-Dec-02 0 0 37 100
15-Jan-03 0 0 33 100
15-Feb-03 0 0 29 100
15-Mar-03 0 0 25 100
15-Apr-03 0 0 22 100
15-May-03 0 0 18 100
15-Jun-03 0 0 15 100
15-Jul-03 0 0 12 100
15-Aug-03 0 0 9 100
15-Sep-03 0 0 6 100
15-Oct-03 0 0 4 100
15-Nov-03 0 0 2 100
15-Dec-03 0 0 0 98
15-Jan-04 0 0 0 90
15-Feb-04 0 0 0 82
15-Mar-04 0 0 0 74
15-Apr-04 0 0 0 65
15-May-04 0 0 0 58
15-Jun-04 0 0 0 50
15-Jul-04 0 0 0 44
15-Aug-04 0 0 0 37
15-Sep-04 0 0 0 31
15-Oct-04 0 0 0 26
15-Nov-04 0 0 0 20
15-Dec-04 0 0 0 15
15-Jan-05 0 0 0 10
15-Feb-05 0 0 0 5
15-Mar-05 0 0 0 1
15-Apr-05 0 0 0 0
15-May-05 0 0 0 0
Weighted Average Life (years) 0.32 0.84 1.88 3.61
First Principal Date Dec-00 Aug-01 Dec-01 Dec-03
Expected Final Maturity Aug-01 Dec-01 Dec-03 Apr-05
Weighted Avg. Life to Call (years) 3.25
Optional Clean-Up Call Date N/A N/A N/A Mar-04
</TABLE>
(1) The weighted average life of a Class A-1 Note, Class A-2 Note, Class A-3
Note and Class A-4 Note is determined by (a) multiplying the amount of cash
distributions in reduction of the Outstanding Principal Amount of the
respective Note by the number of years from the Issuance Date to the
relevant Payment Date, (b) adding the results, and (c) dividing the sum by
the Initial Principal Amount of the applicable class.
18
<PAGE>
<TABLE>
<CAPTION>
Percentage of the Initial Principal Amounts at the Respective CPR Set Forth Below
==================================================================================================================
12% CPR
---------------------------------------------------------------------------------
Payment Date Class A-1 Class A-2 Class A-3 Class A-4
----------------------------- ---------------------- ------------------- -------------- -------------------
<S> <C> <C> <C> <C>
Issuance Date 100 100 100 100
15-Dec-00 85 100 100 100
15-Jan-01 73 100 100 100
15-Feb-01 60 100 100 100
15-Mar-01 48 100 100 100
15-Apr-01 35 100 100 100
15-May-01 23 100 100 100
15-Jun-01 11 100 100 100
15-Jul-01 0 100 100 100
15-Aug-01 0 73 100 100
15-Sep-01 0 47 100 100
15-Oct-01 0 21 100 100
15-Nov-01 0 0 99 100
15-Dec-01 0 0 93 100
15-Jan-02 0 0 88 100
15-Feb-02 0 0 82 100
15-Mar-02 0 0 77 100
15-Apr-02 0 0 71 100
15-May-02 0 0 66 100
15-Jun-02 0 0 61 100
15-Jul-02 0 0 56 100
15-Aug-02 0 0 52 100
15-Sep-02 0 0 47 100
15-Oct-02 0 0 43 100
15-Nov-02 0 0 38 100
15-Dec-02 0 0 34 100
15-Jan-03 0 0 30 100
15-Feb-03 0 0 26 100
15-Mar-03 0 0 23 100
15-Apr-03 0 0 19 100
15-May-03 0 0 16 100
15-Jun-03 0 0 12 100
15-Jul-03 0 0 10 100
15-Aug-03 0 0 7 100
15-Sep-03 0 0 4 100
15-Oct-03 0 0 2 100
15-Nov-03 0 0 0 99
15-Dec-03 0 0 0 91
15-Jan-04 0 0 0 84
15-Feb-04 0 0 0 76
15-Mar-04 0 0 0 67
15-Apr-04 0 0 0 60
15-May-04 0 0 0 52
15-Jun-04 0 0 0 46
15-Jul-04 0 0 0 39
15-Aug-04 0 0 0 33
15-Sep-04 0 0 0 28
15-Oct-04 0 0 0 22
15-Nov-04 0 0 0 17
15-Dec-04 0 0 0 13
15-Jan-05 0 0 0 8
15-Feb-05 0 0 0 4
15-Mar-05 0 0 0 0
15-Apr-05 0 0 0 0
15-May-05 0 0 0 0
Weighted Average Life (years) 0.30 0.81 1.82 3.55
First Principal Date Dec-00 Jul-01 Nov-01 Nov-03
Expected Final Maturity Jul-01 Nov-01 Nov-03 Mar-05
Weighted Avg. Life to Call (years) 3.23
Optional Clean-Up Call Date N/A N/A N/A Mar-04
</TABLE>
(1) The weighted average life of a Class A-1 Note, Class A-2 Note, Class A-3
Note and Class A-4 Note is determined by (a) multiplying the amount of cash
distributions in reduction of the Outstanding Principal Amount of the
respective Note by the number of years from the Issuance Date to the
relevant Payment Date, (b) adding the results, and (c) dividing the sum by
the Initial Principal Amount of the applicable class.
19
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