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Previous: NISSAN AUTO RECEIVABLES CORP /DE, 8-K, 2000-04-25 |
Next: GOODYS FAMILY CLOTHING INC /TN, 10-K, 2000-04-25 |
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 (date of earliest event reported):
April 17, 2000
Nissan Auto Receivables Corporation
on behalf of Nissan Auto Receivables 2000-A Owner Trust
(Exact name of registrant as specified in its charter)
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Delaware |
333-82763 |
51-6514987 |
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(State or other Jurisdiction of incorporation) |
(Commission Registration Number) |
(I.R.S. Employer Identification Number) |
990 WEST 190TH STREET
TORRANCE, CALIFORNIA 90502
(Address of principal executive office)
Registrant's telephone number, including area code:
(310) 719-8013
Exhibit Index is on Page 4
Item 5. Other Events.
On April 17, 2000, the principal and interest collected during the preceding calendar month, net of certain adjustments as provided for in the Sale and Servicing Agreement, dated as of January 27, 2000 (the "Agreement"), among Nissan Auto Receivables 2000-A Owner Trust, as Issuer, Nissan Auto Receivables Corporation, as Seller, and Nissan Motor Acceptance Corporation, as Servicer, were distributed to the holders of notes ("Noteholders") issued by Nissan Auto Receivables 2000-A Owner Trust. In accordance with the Agreement, the Servicer's Certificate, as defined in the Agreement, was furnished to the Indenture Trustee (as defined in the Agreement) for the benefit of the Noteholders. A copy of the Servicer's Certificate is being filed as Exhibit 99.1 to this Current Report on Form 8-K.
Item 7(c). Exhibits.
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The exhibit number corresponds with Item 601(a) of Regulation S-K. |
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Exhibit No. |
Description |
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99.1 |
Servicer's Certificate for the month of March 2000 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the undersigned thereunto duly authorized.
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NISSAN AUTO RECEIVABLES CORPORATION |
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By: |
/s/______________________ |
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Name: |
Benjamin V. Harwood |
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Title: |
Treasurer |
April 24, 2000
EXHIBIT INDEX
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Exhibit No. |
Description |
Sequentially |
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99.1 |
Servicer's Certificate for the month of March 2000 |
5 |
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Exhibit 99.1
Nissan Auto Receivables 2000-A Owner Trust
Servicer's Certificate
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Collection Period |
March-00 |
30/360 Days |
30 |
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Distribution Date |
17-Apr-00 |
Actual/360 Days |
33 |
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Coupon Rate |
Initial Balance |
Beginning Balance |
Ending Balance |
Pool Factor |
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Total Portfolio |
837,721,182.12 |
796,305,181.13 |
772,195,682.47 |
0.922 |
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Total Securities |
837,721,182.12 |
796,305,181.13 |
772,195,682.47 |
0.922 |
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Class A-1 Notes |
6.125% |
184,000,000.00 |
142,583,999.01 |
118,474,500.35 |
0.644 |
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Class A-2 Notes |
6.730% |
229,000,000.00 |
229,000,000.00 |
229,000,000.00 |
1.000 |
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Class A-3 Notes |
7.010% |
250,000,000.00 |
250,000,000.00 |
250,000,000.00 |
1.000 |
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Class A-4 Notes |
7.170% |
95,130,000.00 |
95,130,000.00 |
95,130,000.00 |
1.000 |
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Certificates |
0.000% |
79,591,182.12 |
79,591,182.12 |
79,591,182.12 |
1.000 |
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Principal Payment |
Interest Payment |
Principal per $1000 |
Interest per $1000 |
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Class A-1 Notes |
24,109,498.66 |
800,549.74 |
131.0298840 |
4.35 |
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Class A-2 Notes |
0.00 |
1,284,308.33 |
- |
5.61 |
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Class A-3 Notes |
0.00 |
1,460,416.67 |
- |
5.84 |
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Class A-4 Notes |
0.00 |
568,401.75 |
- |
5.98 |
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Certificates |
0.00 |
0.00 |
- |
0.00 |
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Total Securities |
24,109,498.66 |
4,113,676.49 |
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I. COLLECTIONS |
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Interest: |
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Interest Collections |
4,876,171.44 |
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Repurchased Loan Proceeds Related to Interest |
0.00 |
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Total Interest Collections |
4,876,171.44 |
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Principal: |
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Principal Collections |
23,725,550.06 |
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Repurchased Loan Proceeds Related to Principal |
0.00 |
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Total Principal Collections |
23,725,550.06 |
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Recoveries of Defaulted Receivables |
56,824.16 |
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Investment Earnings on Yield Supplement Account |
121,847.45 |
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Release from the Yield Supplement Account |
1,258,921.62 |
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Servicer Advances |
86,186.88 |
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Total Collections |
30,125,501.61 |
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II. COLLATERAL POOL BALANCE DATA |
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Number |
Amount |
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Pool Balance - Beginning of Period |
56,620 |
796,305,181.13 |
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Total Principal Collections |
23,725,550.06 |
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Principal Amount of Gross Losses |
383,948.60 |
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Pool Balance - End of Period |
55,947 |
772,195,682.47 |
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III. DISTRIBUTIONS |
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Total Collections |
30,125,501.61 |
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Reserve Account Draw |
0.00 |
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Total Available for Distribution |
30,125,501.61 |
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1. Reimbursement of Advance |
192,942.69 |
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2. Servicing Fee: |
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Servicing Fee Due |
663,587.65 |
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Servicing Fee Paid |
663,587.65 |
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Servicing Fee Shortfall |
0.00 |
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3. Interest: |
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Class A-1 Notes Monthly Interest |
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Class A-1 Notes Interest Carryover Shortfall |
0.00 |
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Class A-1 Notes Interest on Interest Carryover Shortfall |
0.00 |
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Class A-1 Notes Monthly Interest Distributable Amount |
800,549.74 |
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Class A-1 Notes Monthly Interest Paid |
800,549.74 |
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Change in Class A-1 Notes Interest Carryover Shortfall |
0.00 |
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Class A-2 Notes Monthly Interest |
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Class A-2 Notes Interest Carryover Shortfall |
0.00 |
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Class A-2 Notes Interest on Interest Carryover Shortfall |
0.00 |
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Class A-2 Notes Monthly Interest Distributable Amount |
1,284,308.33 |
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Class A-2 Notes Monthly Interest Paid |
1,284,308.33 |
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Change in Class A-2 Notes Interest Carryover Shortfall |
0.00 |
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Class A-3 Notes Monthly Interest |
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Class A-3 Notes Interest Carryover Shortfall |
0.00 |
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Class A-3 Notes Interest on Interest Carryover Shortfall |
0.00 |
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Class A-3 Notes Monthly Interest Distributable Amount |
1,460,416.67 |
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Class A-3 Notes Monthly Interest Paid |
1,460,416.67 |
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Change in Class A-3 Notes Interest Carryover Shortfall |
0.00 |
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Class A-4 Notes Monthly Interest |
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Class A-4 Notes Interest Carryover Shortfall |
0.00 |
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Class A-4 Notes Interest on Interest Carryover Shortfall |
0.00 |
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Class A-4 Notes Monthly Interest Distributable Amount |
568,401.75 |
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Class A-4 Notes Monthly Interest Paid |
568,401.75 |
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Change in Class A-4 Notes Interest Carryover Shortfall |
0.00 |
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Total Note Monthly Interest |
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Total Note Monthly Interest Due |
4,113,676.49 |
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Total Note Monthly Interest Paid |
4,113,676.49 |
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Total Note Interest Carryover Shortfall |
0.00 |
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Change in Total Note Interest Carryover Shortfall |
0.00 |
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Total Available for Principal Distribution |
25,155,294.78 |
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4. Total Monthly Principal Paid on the Notes |
24,109,498.66 |
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Total Noteholders' Principal Carryover Shortfall |
0.00 |
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Total Noteholders' Principal Distributable Amount |
24,109,498.66 |
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Change in Total Noteholders' Principal Carryover Shortfall |
0.00 |
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5. Total Monthly Principal Paid on the Certificates |
0.00 |
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Total Certificateholders' Principal Carryover Shortfall |
0.00 |
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Total Certificateholders' Principal Distributable Amount |
0.00 |
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Change in Total Certificateholders' Principal Carryover Shortfall |
0.00 |
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Remaining Available Collections |
1,045,796.12 |
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Deposit from Remaining Available Collections to fund Reserve Account |
0.00 |
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Remaining Available Collections Released to Seller |
1,045,796.12 |
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IV. YIELD SUPPLEMENT ACCOUNT |
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Beginning Yield Supplement Account Balance |
25,941,438.03 |
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Release to Collection Account |
1,258,921.62 |
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Ending Yield Supplement Account Balance |
24,682,516.41 |
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V. RESERVE ACCOUNT |
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Initial Reserve Account Amount |
6,282,908.87 |
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Required Reserve Account Amount |
6,282,908.87 |
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Beginning Reserve Account Balance |
6,282,908.87 |
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Ending Reserve Account Balance |
6,282,908.87 |
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Reserve Account Triggers |
Test Ratio |
Actual Ratio |
Result |
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Average Three Period Delinquency Percentage |
2.00% |
0.04% |
Pass |
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Average Three Period Charge Off Rate |
3.25% |
0.26% |
Pass |
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Required Reserve Account Amount for Next Period |
6,282,908.87 |
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VI. POOL STATISTICS |
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Weighted Average Coupon |
7.20% |
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Weighted Average Remaining Maturity |
50.09 |
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Principal Recoveries of Defaulted Receivables |
56,824.16 |
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Principal on Defaulted Receivables |
383,948.60 |
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Pool Balance at Beginning of Collection Period |
796,305,181.13 |
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Net Loss Ratio |
0.49% |
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Net Loss Ratio for Second Preceding Collection Period |
0.00% |
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Net Loss Ratio for Preceding Collection Period |
0.30% |
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Net Loss Ratio for Current Collection Period |
0.49% |
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Average Net Loss Ratio |
0.26% |
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Cumulative Net Losses for all Periods |
534,499.04 |
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Delinquent Receivables: |
Amount |
Number |
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31-60 Days Delinquent |
3,060,709.31 |
220 |
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61-90 Days Delinquent |
202,233.81 |
13 |
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91-120 Days Delinquent |
64,290.88 |
4 |
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Total Delinquent Receivables: |
3,327,234.00 |
237 |
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60+ Days Delinquencies as Percentage of Receivables |
0.03% |
0.00 |
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Delinquency Ratio for Second Preceding Collection Period |
0.00% |
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Delinquency Ratio for Preceding Collection Period |
0.04% |
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Delinquency Ratio for Current Collection Period |
0.03% |
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Average Delinquency Ratio |
0.04% |
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