UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
July 15, 1994
Sears Credit Account Trust 1989 E
(Exact name of registrant as specified in charter)
Illinois 33-31877-01 Not Applicable
(State of (Commission (IRS Employer
Organization) File Number) Identification No.)
c/o Sears Receivables Financing Group, Inc.
3711 Kennett Pike
Greenville, Delaware 19807
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code:
(302) 888-3176
Former name, former address and former fiscal year, if
changed since last report: Not Applicable
<PAGE>
Item 5. Other Events
On July 15, 1994, Registrant made available the
Monthly Investor Certificateholders' Statement set forth as
Exhibit 21.
Item 7. Financial Statements and Exhibits
21. Monthly Investor Certificateholders' Statement
related to the distribution of July 15, 1994 and
reflecting the performance of the Trust during the
Due Period ended in June, 1994, which accompanied
the distribution on July 15, 1994.
<PAGE>
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.
Sears Credit Account Trust 1989 E
(Registrant)
By: Sears Receivables Financing Group, Inc.
(Originator of the Trust)
Date: July 15, 1994 By: /S/PERRY N. WEINE
Perry N. Weine
Vice President, Administration
<PAGE>
EXHIBIT INDEX
Page number
in sequential
Exhibit No. number system
21. Monthly Investor Certificateholders' 5
Statement - (July 15, 1994).
<PAGE>
Exhibit 21
MONTHLY INVESTOR CERTIFICATEHOLDERS' STATEMENT
SEARS CREDIT ACCOUNT TRUST 1989 E
_____________________________________________________
8.65% CREDIT ACCOUNT
PASS-THROUGH CERTIFICATES
_____________________________________________________
Under the Pooling and Servicing Agreement dated as of
November 13, 1989, by and among Sears, Roebuck and Co.
("Sears"), Sears Receivables Financing Group, Inc. and
Continental Bank, National Association, as Trustee, the
Trustee is required to prepare certain information each
month regarding current distributions to Investor
Certificateholders and the performance of the Trust during
the previous month. The information which is required to
be prepared with respect to the distribution of July 15,
1994 (the "current Distribution Date") and with respect to
the performance of the Trust during the Due Period ended in
June, 1994 (the "related Due Period") is set forth below.
Certain of the information is presented on the basis of an
original principal amount of $1,000 per Investor
Certificate. Certain other information is presented
based on the aggregate amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution
(Stated on the Basis of $1,000 Original Principal
Amount).
__________________________________________________________
1. The total amount of the distribution to
Investor Certificateholders on the current
Distribution Date per $1,000 interest...........$0.000000000
2. The amount of the distribution set forth in paragraph 1
above in respect of interest on the Investor Certificates,
per $1,000 interest.............................$0.000000000
3. The amount of the distribution set forth in paragraph 1
above in respect of principal on the Investor Certificates,
per $1,000 interest...................................$0.00
B. Information Regarding the Performance of the Trust.
_________________________________________________
1. Collections of Receivables.
__________________________
(a) The aggregate amount of Collections of
Finance Charge Receivables processed
during the related Due Period..................$9,252,681.24
(b) The aggregate amount of Collections of
Principal Receivables processed during
the related Due Period........................$36,123,882.26
(c) The aggregate amount of Collections of Finance Charge
Receivables processed during the related Due Period which
were allocated in respect of the Investor
Certificates...................................$1,972,057.07
(d) The aggregate amount of Collections of Principal
Receivables processed during the related Due Period which
were allocated in respect of the Investor
Certificates.................................$26,673,986.76
(e) The aggregate amount of Collections of Finance Charge
Receivables processed during the related Due Period which
were allocated in respect of the Seller
Certificate..................................$7,280,624.17
(f) The aggregate amount of Collections of Principal
Receivables processed during the related Due Period which
were allocated in respect of the Seller
Certificate..................................$9,449,895.50
2. Principal Receivables in the Trust; Principal
Funding Account.
______________________________________________
(a) The aggregate amount of Principal Receivables in the
Trust as of the end of the related Due Period (which
reflects the Principal Receivables represented by both the
Seller Certificate and the Investor
Certificates)...............................$581,542,599.68
(b) The amount of Principal Receivables in the Trust
represented by the Investor Certificates (the "Investor
Interest") as of the end of the related
Due Period ................................$100,000,000.00
(c) The Investor Interest set forth in paragraph 2(b)
above as a percentage of the aggregate amount of Principal
Receivables set forth in paragraph 2(a) above........17.20%
(d) The Invested Amount as of the end of the current
Distribution Date..........................$500,000,000.00
(e) The total amount to be deposited in the Principal
Funding Account in respect of Collections of Principal
Receivables on such Distribution Date.......$25,000,000.00
(f) The total amount on deposit in the Principal Funding
Account in respect of Collections of Principal Receivables
on such Distribution Date (after giving effect to the
deposit referred to in paragraph 2(e))....$400,000,000.00
(g) The total Fixed Amount payable by Sears under the
Interest Rate Swap Agreement................$2,703,125.00
(h) The Deficit Accumulation Amount (after giving effect to
the deposit referred to in paragraph 2(e))..........$0.00
3. Interest Funding Account.
___________________________
(a) The total amount to be deposited in the Interest
Funding Account in respect of Certificate Interest on such
Distribution Date ..........................$3,604,166.67
(b) The total amount on deposit in the Interest
Funding Account in respect of Certificate Interest on such
Distribution Date (after giving effect to the deposit
referred to in paragraph 3(a))..............$7,208,333.34
4. Investor Charged-Off Amount.
___________________________
(a) The aggregate amount of Receivables charged-off as
uncollectible during the related Due Period allocable to the
Investor Certificates (the "Investor Charged-Off
Amount")......................................$421,294.52
(b) The Aggregate Investor Charged-Off
Amount..............................................$0.00
5. Investor Losses; Reimbursement of Charge-Offs.
_____________________________________________
(a) The excess of the Investor Charged-Off Amount set
forth in paragraph 3(a) above over the sum of (i) payments
in respect of the Available Subordinated Amount and (ii)
Excess Servicing, if any (an "Investor Loss").......$0.00
(b) The amount of the Investor Loss set forth in paragraph
4(a) above, per $1,000 interest (which will have the
effect of reducing, pro rata, the amount of each Investor
Certificateholder's investment).....................$0.00
(c) The total amount reimbursed to the Trust in the current
month from the sum of the Available Subordinated Amount
and Excess Servicing, if any, in respect of Investor Losses
in prior months.................................,,,,$0.00
(d) The amount set forth in paragraph 4(c) above, per
$1,000 interest (which will have the effect of increasing,
pro rata, the amount of each Investor Certificateholder's
investment).........................................$0.00
(e) The aggregate amount of Investor Losses in the Trust as
of the end of the current Distribution Date.........$0.00
(f) The amount set forth in paragraph 4(e) above, per
$1,000 interest (which will have the effect of reducing,
pro rata, the amount of each Investor Certificateholder's
investment).........................................$0.00
6. Investor Servicing Fee.
______________________
The aggregate amount of the Investor
Monthly Servicing Fee payable by the Trust
to the Servicer for the related Due Period....$208,333.33
7. Available Subordinated Amount.
____________________________________________
(a) The amount available to be applied pursuant to Section
4.03 as of the end of the current Distribution
Date.......................................$42,500,000.00
(b) The amount set forth in paragraph 6(a) above as a
percentage of the Invested Amount....................8.50%
8. Investor Excess Spread Analysis
_______________________________
$ % (1)
_________________ _________________
Allocated Yield (2) $1,972,057.07 18.93%
Less:
Certificate Interest (3) $901,041.67 8.65%
Servicing Fees (4) 208,333.33 2.00%
Allocated Charge-Offs (5) 421,294.52 4.04%
_________________ _________________
Subtotal $1,530,669.52 14.69%
Excess Spread $441,387.55 4.24%
(1) Annualized percentage of the Investor Interest at the
start of the related Due Period (Section B2(b) plus Section
B2(e))
(2) See Section B1(c) above
(3) Section B3(a) minus Section B2(g) above
(4) See Section B6 above
(5) See Section B4(a) above
Note: Payment rate (aggregate collections/beg. receivables
balance) for the related Due Period: 7.62%
C. The Pool Factor.
_______________
The Pool Factor (which represents the ratio
of the amount of the Invested Amount as of
the end of the day on the current
Distribution Date to the amount of the
Investor Interest as of the Closing Date).
The amount of an Investor Certificate-
holder's pro rata share of the Invested
Amount can be determined by multiplying the
original denomination of the Holder's
Investor Certificate by the Pool Factor..........1.0000000
CONTINENTAL BANK, NATIONAL ASSOCIATION
as Trustee
By: /S/ C. K. Duncan
________________________________
Title: Vice President
