<PAGE>
UNITED STATES
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 January 18, 2000
Commission File Number 333-70003
FIRST SECURITY AUTO OWNER TRUST 1999-1
(Exact name of registrant as specified in its charter)
State of incorporation Utah
I.R.S. Employer Identification No. 87-6242432
Address of principal executive offices 79 South Main, P.O. Box 30006
Salt Lake City, Utah
Zip Code 84130-0006
Registrant's telephone number, including area code (801) 246-5891
Item 7. Financial Statements and Exhibits
Pursuant to its agreement with certificate holders, this report is filed to
report data relating to this trust as contained in the monthly servicing report
sent to certificate holders by the trustee. Attached as Exhibit A is a copy of
the monthly servicing report for the period Nov. 26, 1999 through Dec. 25, 1999.
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, thereunto duly authorized.
FIRST SECURITY AUTO OWNER TRUST 1999-1
(Registrant)
By: FIRST SECURITY BANK, N.A.
(Seller and Servicer)
/s/ Brad D. Hardy January 18, 2000
__________________________________________________________ __________________
Brad D. Hardy (Date)
Authorized Officer
<PAGE>
<TABLE>
EXHIBIT A
<CAPTION>
First Security Auto Owner Trust 1999-1
Monthly Statement to Noteholders
Servicer: First Security Bank, N.A.
November 26, 1999 Thru December 25, 1999
Distribution Date: 01-18-00
Statement for Class A and Class B Noteholders Pursuant Per $1,000 of Original
to Section 4.7 of the Sale and Servicing Agreement Class A/Class B
Note Amount
<S> <C> <C>
(i) Principal Distribution
Class A-1 Amount 0.00 0.0000
Class A-2 Amount 23,254,990.62 77.3105
Class A-3 Amount 0.00 0.0000
Class A-4 Amount 0.00 0.0000
Class B Amount 1,330,050.74 29.3303
(ii) Interest Distribution
Class A-1 Amount 0.00 0.0000
Class A-2 Amount 755,308.40 2.5110
Class A-3 Amount 1,116,000.00 4.6500
Class A-4 Amount 1,205,400.00 4.7833
Class B Amount 183,778.86 4.0527
(iii) Basic Servicing Fee 566,114.39 0.5615
(iv) Outstanding Advances (end of preceding collection period) 110,704.66
(v) Aggregate Receivables (end of preceding collection period) 679,337,263.61
(vi) Class A-1 Note Balance (end of Collection Period) 0.00
Class A-1 Pool Factor (end of Collection Period) 0.0000000
Class A-2 Note Balance (end of Collection Period) 127,326,501.10
Class A-2 Pool Factor (end of Collection Period) 0.4232929
Class A-3 Note Balance (end of Collection Period) 240,000,000.00
Class A-3 Pool Factor (end of Collection Period) 1.0000000
Class A-3 Note Balance (end of Collection Period) 252,000,000.00
Class A-3 Pool Factor (end of Collection Period) 1.0000000
Class B Note Balance (end of Collection Period) 35,425,721.15
Class B Pool Factor (end of Collection Period) 0.7812073
Total Pool Balance (end of Collection Period) 654,752,222.25
(vii) Realized Losses 961,665.38
(viii) Noteholders Interest Carryover Shortfall 0.00
Noteholders Principal Carryover Shortfall 0.00
(ix) Aggregate Purchase Amount of Receivables Repurchased by the Sellers
or purchased by Servicers 0.00
(x) Reserve Account Balance 29,463,850.00
Average Delinquency Ratio 0.6573%
Average Net Loss Ratio 0.8734%
Specified Reserve Account Balance 29,463,850.00
(xi) Gross Loss Ratio 0.73%
</TABLE>
